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Home»ALTCOIN NEWS»Altcoin associated with security-focused cryptocurrency wallets surges 43% this week following launch of new swap feature
ALTCOIN NEWS

Altcoin associated with security-focused cryptocurrency wallets surges 43% this week following launch of new swap feature

By Crypto FlexsMay 19, 20242 Mins Read
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Altcoin associated with security-focused cryptocurrency wallets surges 43% this week following launch of new swap feature
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Altcoins linked to security-focused cryptocurrency wallets are outperforming the broader digital asset market, surging more than 40% this week.

Safe is a smart contract wallet that runs on multiple blockchains.

The project introduced native swap this week.

Explain that it is safe,

“Batch auctions consolidate multiple transactions, reducing gas costs and the need for multiple signatures. A smoother, more efficient transaction process is here.

Built-in MEV (Maximum Extractable Value) protection via a professional third-party solver ensures fair and interference-free trading. Professional solvers compete to fill orders by accessing a broad network of decentralized liquidity sources, aiming for more competitive prices.”

The project’s underlying asset, SAFE, has surged 43% this week after rebounding from a seven-day low of $1.78 to a high of $2.55. SAFE has since bounced back and is trading at $2.21 at the time of this writing.

Despite the recent rally, altcoins remain more than 37% below their all-time high of $3.56 set on April 23 this year, according to CoinGecko.

SAFE began trading in April. That month, Coinbase listed the asset under an “experimental label,” which is a label that exchanges attach to tokens that pose certain risks, such as price fluctuations and order cancellations due to reduced trading volume and availability.

Singapore-based cryptocurrency trading platform Bitrue and Seychelles-based exchange MEXC have also listed Safe for Trading since April 25.

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Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should do their due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that your transfers and transactions are entirely at your own risk and you will be responsible for any losses you may suffer. The Daily Hodl does not recommend the purchase or sale of any cryptocurrency or digital asset, and The Daily Hodl is not investment advice. The Daily Hodl engages in affiliate marketing.

Image created by: Midjourney

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