The decentralized exchange token Biswap (BSW), which was trading just above USD 0.91 on Monday afternoon 21, posted a gain of around 160%. This followed Binance's announcement of the cryptocurrency's inclusion on its platform.
According to CoinMarketCap charts, BSW was trading sideways near USD 0.35 during the early morning when Binance posted about the cryptoasset's listing.
Built on the BNB Smart Chain (formerly BSC) network, BSW presents itself as a low-cost alternative, as well as having a Dapp GameFi. Part of Biswap's proceeds will be used to buy back and burn its governance token, BSW, DeX promises.
BSW is also the primary token for the play-to-earn (P2E) game Squid NFT World, which promises to adapt "to the needs of users looking for an enjoyable gaming experience."
This is what the Biswap (BSW) chart looks like on tradingview, we might expect a further correction to the explosive price that the token has had.
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There are so many of these Defi projects with their own tokens out there... I sometimes have to wonder how many of them will actually make it. And how many can the market actually support? "Defi" is a hot trending word these days... but unless you have some kind of "differentiation" from everyone else, how are you going to stand out?
=^..^=
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You are absolutely right, there are many defi platforms and they should find some way to distinguish themselves from the others.
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The question, as you raised it, is will this have ongoing support? So many cryptocurrency projects have been abandoned. We shall see, and at least we have a fanbase.
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