A little-known altcoin by the crypto community has found itself in the middle of a parabolic rally of up to 225 percent after receiving surprise support from Binance, the world’s largest crypto exchange.
Biswap (BSW)is a decentralized exchange (DEX) powered by the Binance Smart Chain (BSC) network that uses an automated market maker (AMM) system to fulfill sell or buy orders.
Biswap, a platform that offers low transaction fees, has the GameFi app. A portion of Biswap’s revenue is used to repurchase and burn the local government token, BSW.
The project, backed by Binance Labs, Binance’s venture capital arm, which announced a strategic partnership with Biswap in October last year, allows users to trade new, innovative tokens that are likely to have higher volatility and pose higher risk than other tokens. with a special trading zone where In the Innovation Zone listed.
According to Nicole Zhang, director of Binance Labs, Biswap is one of the most innovative and popular projects in BSC, and the investment in the project was in line with Binance’s goal of promoting decentralized finance (DeFi) and blockchain infrastructure.
Biswap aims to provide users with a three-tier referral program, low fees, the ability to exchange BEP-20 tokens, liquidity, as well as the ability to stake in yield-farming and launchpools tokens.
After the news that Binance had officially listed Biswap in the Innovation Zone, the price of BSW skyrocketed from $0.35 to $1.14 in a matter of hours, with the altcoin gaining over 225 percent in less than half a day.
Losing some of the gains, the cryptocurrency is trading at $0.94, up 170 percent in the last 24 hours, up 264 percent from an all-time low of $0.27.
You can check the price movements here.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.