The Anyswap (ANY) crypto is drawing investors’ attention on Thursday, evident by its price surge. The ANY token surged over 14%, while its volume skyrocketed more than 155% in the last 24 hours.
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What is Anyswap (ANY) crypto?
Anyswap, launched in July 2020, is a fully distributed protocol that enables token swapping from various platforms. It is one of the major networks to enter the decentralized finance (DeFi) space for cross-token swaps and trading. The platform is supported by its ECDSA algorithm.
Cryptos like XRP (XRP), Litecoin (LTC), Tether (USDT), etc., have incorporated the Anyswap platform. Anyswap, powered by the Fusion system, a decentralized Control Rights Management (DRCM) technology, smoothly manages the movement of tokens between blockchains.
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Anyswap’s smart contracts are open source that allows individual audits, enhancing the platform’s security. Anyswap’s open-source nature makes it easier to verify if a platform is decentralized.
ANY is the native token of the platform, which enables holders to have a say on which coins to be listed on its decentralized exchange, Anyswap DEX.
The ANY token is available on crypto exchanges like Binance, Bitget, BingX, etc.
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Why is it rising?
The token’s rally could be due to the Binance’s announcement that it will support the ANY token migration and its renaming as Multichain (MULTI).
Binance will suspend the isolated margin borrowing of ANY spot trading pairs and delist them. Additionally, it will close all ANY margin positions, deposits, and withdrawals at 4:30 UTC on March 30.
All ANY token deposits post March 30 will reflect on the Binance only after completing the migration process. These tokens will not be eligible for token swapping.
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Meanwhile, Binance added that it would recover all ANY balance and start the distribution of MULTI to all eligible users at a 1:1 ratio (1 ANY equals 1 MULTI).
According to Binance, after the migration process is completed, the ticker for the old ANY tokens will remain the same, but the new tokens will go with the ticker MULTI. These developments may have triggered the ANY token’s price rally on Thursday.
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Source: *Data provided by CoinMarketCap.com
Bottom line:
The ANY token was priced at US$10.99 at 8:02 am ET on March 24, up 14.33%, while its one-day volume jumped 155.22% to US$48.76 million. It has a market cap of US$204.81 million, and its fully-diluted market cap is US$1.09 billion.
The token’s maximum and total supply are 100 million, and its current circulating supply is 18.63 million. It returned 23.87% gains over the last seven days.
Meanwhile, the MULTI token was priced at US$10.72, up 11.43%, while its volume skyrocketed 1738.23% to US$1.89 million.
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