CRYPTO

Centric Swap quickly advanced to ‘October’ after a 1,000% gain. Here’s why it could be higher


Over the past few weeks, Centric Swap (CNS), a dual-token model that gives stackers yields at a fixed hour that has “stabilized over time because it automates token supply to meet ongoing changes in demand,” has rallied more than 850% and still About 200% away from its previous all-time high.

Data from Cointelegraph Markets Pro and TradingView show that since hitting a low of 000 0.000104 on September 9, the CNS price has risen 1,130% on October 15 to reach a daily high of 00 0.0017659 as its 24-hour trading volume has increased from 130% to $ 6.4. Million

CNS / USDT 4 hour chart. Source: Tradingview

The three reasons for the rapid rise in CNS prices include the expansion of the project’s ecosystem through partnerships, the ইন 1 billion injection into the Defiance ecosystem into the Banyan Smart Chain (BSC), and the project developers’ commitment to multiple upcoming developments and announcements. .

Centric’s ecosystem expands

The real-world resort is probably the best validation signal for a project because the increased token utility price increases and it also brings new focus to the project.

Over the past few months, Centric Swap Protocol has signed some partnerships with organizations such as Tourist Travel Services and Absolute World, which will allow CNS to be used as a payment option for travel expenses.

Other large partnerships include collaborations with Goldgeny, which specializes in partnerships with high-quality luxury goods such as gold-plated cellphones and decentralized cross-chain bridge crossovers.

Binance invests in smart chain CNS

On July 15, Benson was transferred to the Smart Chain from the Centric Swap Tron Network. This has given the project access to the active trading community at BSc which has helped to increase its exposure and increase its trading volume.

This has proved to be a timely move as Binance recently announced that it will invest 1 1 billion in BSC to develop the DeFi ecosystem, which is now part of Centric Swap.

Protocol investment and developer incentive plans have gained popularity after multiple projects, including Avalanche, Phantom and Terra, in recent months, using strategies to grow their community and attract liquidity to their DFI ecosystem. In each instance, the strategy leads to a strong increase in the token value of each project.

Related: Etherium alternatives and layer-one solutions are seeing stable gains in September

Teasing the upcoming announcement

The project’s Twitter feed shows that prior to the recent announcement of such an absolute global partnership, Centric’s team had given numerous hints about impending development so that community members could get excited and shop.

A conventional marketing strategy in the cryptocurrency sector is the announcement of an announcement method, but it remains to be seen whether it will deliver a sustainable pump at a price or buy rumors, sell news scenes.

When a Twitter user suggested that the project would be nothing more than a “rumor-buying, news-selling” event, Thomas Butcher, Centric’s chief operating officer, rejected the idea, saying there was more to Centric next month.

Butcher Said:

“It doesn’t matter, we have more news behind that news, and there’s more news behind that news, and there’s more news behind that news … look at the pattern we’re entering.”

The opinions and opinions expressed here do not necessarily reflect the views of the author and Cointelegraph.com. With every investment and trading move involving risk, you should conduct your own research when making decisions.