Image Source: © Alexandersikov | Megapixl.com
- The Swerve project was founded by a pseudonymous developer called "John Deere".
- The token is listed on crypto exchanges like Huobi Global, Binance, etc.
- It returned over 520% gains in the last seven days.
The Swerve (SWRV) crypto gained over 158%, while its volume skyrocketed more than 2440% in the last 24 hours to Monday morning.
Forked from the Curve (CRV) protocol, Swerve is a decentralized liquidity exchange pool. It mainly focuses on stablecoin pools like Curve.
It was launched by a pseudonymous developer called "John Deere" on September 4, with a combined pool of DAI, USDC, USDT, and TUSD.
As a decentralized autonomous organization (DAO), Swerve uses the Ethereum-based ERC-20 token to provide governance to the protocol besides rewards.
The Swerve founder claims that Curve’s governance wasn’t fair hence it was built as a community-driven alternative to the Curve protocol. John Deere further claims that Swerve provides better swap price and annual percentage yields (APY) on stablecoins than other platforms.
For instance, Swerve deploys a gaming mechanism called "Boost" for rewards. It allows liquidity providers to receive higher APYs by locking the native token SWRV.
The token is listed on crypto exchanges like OKEx, Huobi Global, Binance, etc.
The SWRV token was priced at US$0.3536 at 10:52 am ET on June 27, up 158.79%, while its volume for the last 24 hours skyrocketed 2440.56% to US$115.44 million. It has a market cap of US$6.06 million, and its fully-diluted market cap is more than US$11.66 million.
The token has a maximum supply of 33 million, a total supply of 19.38 million, and its current circulating supply is over 17.16 million. Its total value locked (TVL) is US$728,832.
The SWRV crypto returned gains of 520.5% in the last seven days while increasing 522.32% in the last 30 days. It touched a peak price of US$2.28 and the lowest price of US$0.04 in the last 30 days.
The global crypto market cap declined 3.10% to US$933.17 billion at the same time, and its volume for the trailing 24 hours jumped 8.60% to US$55.37 billion.
The gain in the SWRV crypto amid a slump in the broader market has attracted various crypto market enthusiasts towards the token. However, the investors should closely evaluate the cryptos before spending on them as the digital currencies are highly volatile and several risks are associated with the crypto market.
Risk Disclosure: Trading in cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory, or political events. The laws that apply to crypto products (and how a particular crypto product is regulated) may change. Before deciding to trade in financial instruments or cryptocurrencies you should be fully informed of the risks and costs associated with trading in the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed. Kalkine Media cannot and does not represent or guarantee that any of the information/data available here is accurate, reliable, current, complete, or appropriate for your needs. Kalkine Media will not accept liability for any loss or damage as a result of your trading or your reliance on the information shared on this website.
The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media LLC (Kalkine Media, we or us) and is available for personal and non-commercial use on