There is a lot of excitement surrounding the Swipe cryptocurrency project as of late. This ecosystem is about much more than just a native token, and some of the recent developments are sparking more interest in what SXP can bring to the table.
It’s not Just an Altcoin
If there is one thing that the cryptocurrency industry needs less of, it is new currencies without any actual products or ecosystems. Clearly, Swipe is about much more than just its native SXP token, although that plays a crucial part in everything the project has to offer.
Swipe is designed to be a platform facilitating the buying, selling, and spending of cryptocurrencies. On paper, that doesn’t necessarily sound like something new, but there’s more under the hood. The Swipe Wallet supports nearly three dozen crypto assets, stablecoins, and fiat currencies. Conversions between supported assets are done instantly.
Last but not least, there is also the native payment card. This Visa-branded debit card can be used in conjunction with all of the supported assets. Crypto debit cards have always appealed to the masses, as they make these currencies easier to spend in the real world. All things considered, Swipe has a very powerful ecosystem.
Mystery Announcement Next Week
Keeping the community engaged can be done in many different ways. Creating announcements about upcoming announcements has proven to be a viable tactic, although not everyone agrees with it.
🚨 New Swipe Platform Launch Announcement 8/1
💳 Don’t forget to subscribe to our https://t.co/W2iMgRwHST to find out live!
💵 This will include $SXP staking and earn!
*Hint: starts with D* pic.twitter.com/Eh98TZZCm1
— Swipe (@SwipeWallet) July 21, 2020
As can be seen above, there will be a new platform launch announcement. No one knows much about it, other than how it will include staking of the SXP tokens. Some users are convinced that the platform will introduce DeFi support, but nothing has been officially confirmed at this point.
Binance & Binance Futures
Getting a token listed on the world’s biggest cryptocurrency exchange is still a big deal for a lot of smaller projects. In Swipe’s case, the listing of SXP has been a moral victory first and foremost. Having the support of such a major company often tends to get people excited about just the token itself, however.
Following @binance's listing of #SXP on its Exchange,today #Binance Futures announce to support @SwipeWallet $SXP / $USDT Perpetual Contract. Users can select between 1-50 leverage#BNB #SCN1 #SmartLiquidity
DETAILS: https://t.co/oXjhxq3gAc@coinkit_ mon 25 100 BTC #SXP
— ⚡️Smart Crypto News ⚡️ (@SmartCryptoNew1) July 21, 2020
What is somewhat surprising is how SXP will also be listed on the futures platform. Traders can trade the SXP/USDT perpetual contract with up to 50x leverage. Margin trading remains a risky endeavor, thus treading with caution is advised.
Social Buzz is Strong
Many onlookers may attribute the current social buzz surrounding Swipe to the SXP price change. Most of these people will overlook that SXP is still down by nearly 5% compared to where it was 6 months ago. It seems that the price is changing due to the upcoming announcement, rather than the other way around.
Looking at the past six months, there is a 6,456% increase in social volume, a 5,024% rise in social engagement, and a 6,456% gain in social dominance. All statistics are impressive, especially given the price crash SXP went through in the same period. Not everything in this industry is about prices, but everything happening behind the scenes can certainly influence the future value of SXP.