Altcoin Linked to Security-Focused Crypto Wallet Surges By 43% This Week
An altcoin linked to a security-focused crypto wallet is outperforming the broader digital asset market, surging by more than 40% this week. Safe is a smart contract wallet that runs on multiple blockchains. The project introduced native swaps this week. Explains Safe, “Batch auctions consolidate multiple transactions, reducing gas costs and the need for multiple signatures. A smoother, more efficient trading process is here. Built-in MEV (maximal extractable value) protection by specialized third-party solvers ensures fair and interference-free transactions. Specialized solvers compete to fill orders by accessing a broad network of decentralized liquidity sources, aiming for more competitive pricing.”
Safe Asset Performance
- Safe, the project’s native asset, managed to soar by as much as 43% this week
- Rallied from a seven-day low of $1.78 to a high of $2.55
- Currently trading at $2.21
Altcoin Progress
Despite its recent gains, the altcoin remains more than 37% down from its all-time high of $3.56, which it set on April 23rd of this year, according to CoinGecko. Safe began trading in April. Coinbase listed the asset with an “experimental label” that month, which attaches to tokens that pose certain risks such as price swings and canceled orders.
Exchange Listings
- The Singapore-based cryptocurrency trading platform Bitrue
- The Seychelles-based exchange MEXC both listed Safe for trading starting April 25th
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Hot Take: Altcoin’s Impressive Surge Shows Promise
Overall, the performance of the altcoin linked to a security-focused crypto wallet is showing significant promise. With a surge of 43% this week and the introduction of new features, the asset is gaining attention within the crypto market. Despite certain risks associated with the asset, including price swings and lower liquidity, the growth and listing on major exchanges indicate a positive outlook for the altcoin’s future.
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