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Highlights
- Silva token (SILVA) is a decentralized financial (DeFi) payment system, which allows the users to do seamless transactions in fiat currencies or cryptocurrencies to multiple online and offline stores.
- On Tuesday, it was seeing a massive price as well as volume surge following its listing on Indoex exchange.
- The listing saw its prices zoom by a significant 5,365.25% and the volume rise of astronomical figure of 25166.46%
Silva token (SILVA) is a decentralized financial (DeFi) payment system, which allows the users to do seamless transactions in fiat currencies or cryptocurrencies to multiple online and offline stores. The Silva token allows each user to store the money in the wallet, which can be used to buy and sell currency on the exchange.
Operating on the Binance Smart Chain protocol, the Silva token offers 4% to liquidity pool, which will be locked for a period of 3 years, 2% to the holders, 1% as the burn fees and 1% is allocated to the developers as their fees. Silva token was launched earlier this year and has generated massive interest amongst the investors due to its ability to generate massive returns in a short while.
On Tuesday though, it was seeing a massive price as well as volume surge following its listing on Indoex exchange. The listing saw its prices zoom by a significant 5,365.25% and the volume rise of astronomical figure of 25,166.46%
Also read: Will SuperFarm (SUPER) token go beyond $10 by 2022?
What is Silva Token?
The interest in the token can be judged from the fact that it has managed to have 9,755 holders in a short time. Silva token like other tokens can be burnt, and the developers have already created up the hype by burning 328,824,997,289,246.945288056 Silva tokens. This has helped the Silva token to generate interest amongst the investors who are looking to invested in tokens with limited supply.
Twitter chatter indicated that one of the USPs of the Silva token is its burn facility, which would be divided across eight wallets and each wallet will be burned every three months.
Also read: What does Binance’s MoU with Dubai World Trade Centre Authority point at?
How is SILVA faring?
Silva token is ranked 3438 on CoinMarketCap, and it is currently trading at the US $0.00000002522 with a trading volume of US $521,750 over a day. At the time of drafting, SILVA was up by 274% and had a fully diluted market cap of US $50,449,413 with a total supply of 2,000,000,000,000,000 SILVA coins.
The token has been largely docile as far as the market activity is concerned. It has either seen a significant rise, which lasted for a day or so. But in contrast, the token has managed to maintain its flow, and has rarely seen a bearish phrase.
Experts believe that the token has seen a spell of spike and volume gains after a prolonged period of inactivity. They suggest that the investors should adopt a wait-and-watch approach before investing in it. The token is still in the establishment phase, and it will be clear only in the near future how the token will perform.
