The token, listed on several exchanges including Bybit, Crypto.com, Kucoin and Gate.io, added more than 150% to as high as $5.94. Trading volume hit $79 million across all venues since its release, according to CoinMarketCap.
With ChainFlip and other cross-chain swapping platforms there is no need to bridge or wrap assets. Instead, the market makers automatically purchase an asset on a traditional centralized crypto exchange once a trade is made. ChainFlip validators then send the purchased assets to the wallet address the trader provides at the start of the process.
ChainFlip raised $6 million in a round led by Framework Ventures in 2021.
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