A decentralized exchange (DEX) that offers cross-chain swaps is soaring after its native token received the green light from a pair of cryptocurrency marketplaces.
TitanSwap (TITAN) first dropped a hint via Twitter on March 31st that an exchange listing was right around the corner when TITAN was trading for about $1.25.
The altcoin then steadily reached a price tag of around $2.00 until yesterday, when two major announcements suddenly sent the DEX surging to heights it hasn’t seen since September 2021.
First, Seychelles-based crypto exchange KuCoin announced that it was making TITAN available in Tether (USDT) trading pair.
Next, South Korean digital asset marketplace Bithumb also announced it would be adding TITAN to its roster of crypto assets, opening up trading with Bitcoin and Korean Won pairs.
A week-long rally saw TitanSwap increase by a staggering 425.6%, going from a low of $1.21 all the way to a high of $6.36 when news of the listings surfaced.
According to the project’s website, TitanSwap offers an automated market maker (AMM), automated liquidity mining and decentralized autonomous organization (DAO). The DEX was built on the Ethereum (ETH) network and TITAN offers voting rights for holders as well as rewards for liquidity providers.
The TitanSwap whitepaper highlights several of the crypto project’s unique features, including its adaptive bonding curve.
“TITAN’s Adaptive Bonding Curve combines greater liquidity and better price discovery for different asset classes.
Layer-2 support leverages the layer-2 protocol to dramatically increase the efficiency of on-chain clearing and settlement and effectively reduce gas consumption ahead of ETH 2.0.”
TITAN has since corrected but still remains up 95.43% on the day, trading for $4.50 at time of writing.
Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inboxFeatured Image: Shutterstock/Mykola Holyutyak/Sensvector