• PAWSWAP (PAW) price has dropped 10.90% after 200 trillion PAW tokens were staked on the PAW Staking Mainnet.
• PawSwap team launched its PAW Staking Mainnet with CertiK confirming that it meets their standards.
• The launch of the PawChain blockchain and cross-chain decentralized exchange (PawSwap) is expected to increase PAW token demand which could, in turn, result in a price surge for the PAW token.
PAWSWAP Price Plunge
At press time, the PAW token had dropped 10.90%. Contrary to the expectations of many, the PAWSWAP (PAW) price has plunged after about 200 trillion PAW tokens are staked on the PAW Staking Mainnet which was launched on April 30, 2023.
PAWSWARP Staking Mainnet
So far about 200 trillion PAW tokens have been staked on the mainnet. It has taken less than 24 hours for so many PAW tokens to be staked which accounts for 0.2% of the total supply. CertiK has already confirmed that the newly launched mainnet “meets their standards” and will chair a report on audit status of mainnet with its community.
PawChain Blockchain & Cross-Chain DEX
The launch of mainnet for staking is first major product to be launched for PawSwap ecosystem and there is a robust roadmap including PawChain blockchain and cross-chain decentralized exchange (PawSwap). This focuses on security, speed and user friendly experience for trading crypto assets.
Expected Increase in Demand & Price Surge
Normally such great reduction in token supply would result in significant price surge but that has not been case yet as even after launch no bullish movement can be seen yet but expectedly when PawChain blockchain launches along with cross chain DEX it will increase demand leading to price surge of this token hopefully soon enough.
As PawSwap team starts delivering major products related to their project we can only wait and see how much effect does it have over price movements and market trend as investors also keep an eye out hoping something good comes out from these projects eventually either way we wish team best luck with their endeavors!