An altcoin associated with a crypto wallet focused on security is outperforming the wider digital asset market, experiencing a surge of over 40% this week.
Safe, a smart contract wallet that operates on multiple blockchains, recently introduced native swaps. According to Safe, batch auctions are utilized to consolidate multiple transactions, reducing gas costs and the need for multiple signatures. This results in a smoother and more efficient trading process. The wallet also includes built-in MEV (maximal extractable value) protection provided by specialized third-party solvers. These solvers compete with each other to fill orders by accessing a wide network of decentralized liquidity sources, ultimately aiming for more competitive pricing.
The native asset of the project, SAFE, saw a significant increase of up to 43% this week, surging from a seven-day low of $1.78 to a high of $2.55. However, it has since retraced and is currently trading at $2.21.
Despite these recent gains, SAFE remains more than 37% below its all-time high of $3.56, which was achieved on April 23rd of this year, as reported by CoinGecko.
SAFE first entered the market in April and was listed on Coinbase, albeit with an “experimental label” due to certain risks associated with the token, such as price volatility and order cancellations resulting from lower trading volume and availability. Other exchanges, including Bitrue and MEXC, also listed Safe for trading starting on April 25th.
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