Crypto Token Centric Swap Gains 1,000% in October
After rallying by over 850% in recent weeks, Centric Swap (CNS) has still fallen about 200% short of its past all-time peak. CNS is a dual-token solution that offers stakers with a fixed hourly rate of return that “stabilizes with the passage of time as it self-regulates the supply of token to satisfy ongoing changes in the market.”
Since its low of $0.000104 on September 9, the value of CNS has risen 1,130 percent to a daily peak of $0.0017659 on Oct. 15, as its 24-hour trading volume increased by 130 percent to $6.4 million, as per Coingecko.com. In addition to the venture’s environment growth via partnerships, Binance’s $1 billion investment into DeFi on the Binance Smart Chain (BSC) and the guarantee of many future advancements and announcements by the venture’s creators are three reasons for the fast increase in CNS price.
One of the greatest ways to validate a project is to witnessing its adoption in the real world. This helps to drive up the price of the token and raises awareness about it. Companies like Tourvest Travel Services and Absolute World have inked Centric Swap protocol agreements in the last few months, allowing CNS to be used as a payment method for travel costs.
Other notable collaborations include one with Goldgenie, a manufacturer of high-end luxury goods like as gold-plated mobile phones, and another with CroxSwap, a decentralized cross-chain exchange. From Tron to Binance Smart Chain, Centric Swap moved on July 15th. Because of this, the initiative gained access to BSC’s busy trading community, increasing its visibility and trading volume.
Due to Binance recently announcing a $1 billion investment in building the DeFi ecosystem on the BSC, Centric Swap is now a part of, this move has come at the perfect moment. Since many projects like as Avalance, Fantom, and Terra utilized this approach to build their communities and provide liquidity to their DeFi ecosystems, protocol investments and developer incentive schemes have risen in favor.
Each time, this strategy resulted in a significant rise in the token price. The initiative’s Twitter account indicates that previous to recent revelations like the Absolute World collaboration, the Centric team had dropped many clues about future advancements that may have thrilled community members and sparked a purchasing frenzy.
The technique of announcing an announcement is a widely utilized marketing strategy in the cryptocurrency industry, but it needs to be seen whether this will result in a long-term price boost or in a buy the rumor, sell the news situation. Despite a Twitter user’s suggestion that the initiative would be nothing more than a “buy the rumor, sell the news” scheme, Centric CEO Thomas Butcher rejected the notion, saying that Centric had additional plans in the works for the foreseeable future.
According to Butcher, “It doesn’t matter because we’ve got a whole bunch of other news behind that, and even more stuff behind that…Take a look at the pattern we’re about to enter.”
Attention #CentricWarriors! Who is excited for this week’s (Thursday’s) partnership announcement? The first 100 people will receive an incredible promotional offer! Don’t miss it! 🤩$CNR $CNS #BSCGem #BSC #BinanceSmartChain pic.twitter.com/nZR6hVHW3k
— Centric Official (@CentricRise) October 6, 2021