This less popular altcoin has gained over 1,000% since early October
The price movement of most of the coins in the market in October was quite remarkable. As large-cap altcoins continue to hit higher highs, the less popular juniors follow suit.
One of the cryptocurrencies that really stay true to the “Uptober” spirit is Centric Swap (CNS). This altcoin was valued at just $ 0.00018 on October 1, but is trading at $ 0.00142 at the time of writing.
In fact, the price of CNS has increased more than 1,000% since the beginning of this month.
CNS is a token based on Binance Smart Chain that serves as the ramp on and off the Centric network. For its part, Centric is a dual crypto payments network and aims to remove one of the major obstacles to mass adoption of cryptocurrencies – price volatility.
What caused the increase?
There are a few factors that have fueled CNS’s exponential growth, from an increase in development and adoption activities to new partnerships and transactions.
In terms of adoption, the protocol has tied in with a number of companies in the past few weeks, including Absolute World and Tourvest Travel Services. Customers can now use CNS as a payment option. Two of the other notable transactions involved CroxSwap’s decentralized cross-bridge and London-based gift company Goldgenie.
In addition, Centric Swap switched from the Tron network to Binance Smart Chain in mid-July. This move helped the network expand its reach.
Additionally, it should be noted that Binance recently announced it would invest over $ 1 billion to grow the broader DeFi ecosystem in its native chain. Since CNS is currently working on the BSC, it can benefit from it.
What is the future
Centric has big plans for the fourth quarter. Although not much was revealed, the record was made guaranteed to the community that something big is coming.
In fact, the 1000% + pump doesn’t seem to be a “buy the rumor, sell the truth” style as it comes with significant trading volume as well. The cumulative 24-hour trading volume of the cryptocurrency has been hovering between $ 13 million and $ 15 million recently.
Even so, old is still 200% off the previous ATH, which shows that there is still plenty of room for growth.
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According to Ambcrypto