The DEX continues to see high volume despite the dips in price.
WaultSwap Benefits from Increased Volatility
A massive market correction is ongoing, with some tokens/coins losing nearly -90% from their All-Time High (ATH) thanks to the stretched bull run that has fuelled an incredible hype-driven market. The presently-bear market seems to be restoring some level of normalcy and sanity once again.
Despite the large correction, Wault Finance product WaultSwap has witnessed a boom in its trade volume, benefiting from the increased market volatility. The project hasn’t taken a break from its BUIDL growth as it continues to process orders.
The AMM has continued to shine in 24HR trading volume as the market takes a further plunge from its > $2 trillion market cap to its current cap of $1.6 trillion.
According to its Tweet, the platform has reportedly received $185 000 of trading fees, which means the 24HR volume is above $850 million. However, the WaultSwap API seems not to be updating this figure correctly, a situation the team has stated they are currently fixing.
This update is no small feat as it shows where the market sentiment is tilting towards – a renewed favorable market signaling a potential next phase of the market run.
Wault Market Response
$WEX, the native token of the WaultSwap platform, has continued to take a beating, correcting 86% from its ATH of $0.38 per token. This dip is despite the platform achievements and what seems to be a hint of a potential buy-back program, plus its ongoing token burn.
The price currently sits at $0.53 and has lost another 22% in the last 24H, although the Wault community has continued to trust the project, hence the increased volume. Judging from the community response, WaultSwap is still hyped to be the next AMM DEX that could cross the $1 target in the future.
About WaultSwap
Wault Finance is a decentralized protocol connecting all DeFi features into a Wault ecosystem. Its AMM/DEX platform WaultSwap, the recent launch of the Wault Finance ecosystem, has continued to grow in trade volume, market cap, and Total Value Locked (TVL) recently surpassing $1 Billion.
Closing Thoughts
WaultSwap has continued to set outstanding records to its list of achievements as a young DEX protocol, barely six months into its operation. While the crypto market has seen a steep decline over the last few days, protocols like WaultSwap lend credence to the potential rise that will follow the dip. This is a period of uncertainty in the crypto market, but there are signs that growth is just around the corner.
Source : bsc.news
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