NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: FTX Recovery Trust Set To Disburse $1.6 Billion By Month-End, FTT Price Skyrockets

New DeFi Token SWRV Jumps 33% in a Day; Dump Incoming?

Yashu Gola
Yashu Gola
5 years ago
2 mins read
swrv, cryptocurrency, Defi, bitcoin

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

SWRV, the native token of the newly-launched decentralized finance platform, Swerve Finance, surged 33 percent in the last 24 hours.

The SWRV/USD exchange rate changed hands for $7.53 per token as of 1100 GMT Thursday. It was now trading above $6.026, its previous record high established on its first day of trading on September 5. As of this Monday, SWRV had even fallen to as low as $3.221, according to data fetched by Messari.

swrv, cryptocurrency, Defi, bitcoin

New DeFi token SWRV in a pumping phase. Source: Messari

The enormously volatile price moves illustrated a higher-risk-higher-reward sentiment in the SWRV market. Traders, who have earlier missed/experienced similar explosive price moves in the tokens of newly-launched DeFi projects, jumped into SWRV to earn volcanic profits.

Meanwhile, the jumps today also came as Huobi Global added an SWRV deposit option to its trading platform.

🚀LAUNCH TIME!

🔥#Huobi adds $BOT, $SWRV and $CVP!

Deposit open -Trading starts soon!

Details 👇 #InnoHub

— HTX (@HTX_Global) September 10, 2020

Other than that, nothing else would explain the incredible price rise of the Swerve Finance token.

The Project

Swerve Finance is a clone project, a liquidity pool on Ethereum for efficient stablecoin trading with full token distribution among liquidity providers. That is the exact thing Curve Finance–another DeFi project–does.

The twinning continues with ySWRV, a token the Swerve Finance awards its liquidity providers, further stake-able in its homegrown DAO to earn SWRV. In the first two weeks, Swerve will distribute a total of 9 million SWRV tokens out of its 33 million total supply.

This whole economics is similar to that offered by Curve. But the Swerve Finance backers argue:

“We have written an independent Solidity code that interacts with Curve’s contracts essentially as an on-chain API via delegation. Any reused software in Swerve is MIT licensed.”

The Swerve Finance has already attracted about $35 million worth of stablecoin into its pool. The money has surfaced despite an independent audit of the smart contracts, which points to higher speculation among stakers and traders alike.

“As always, there are risks in using these contracts,” said DeFi expert Nick C. “From what I’ve seen thus far, it’s almost a perfect fork of Curve, but Swerve’s contracts remain unaudited. It will be worth watching audits moving forward.”

SWRV Dump Ahead?

Despite positive responses initially, nothing stops whales from artificially pumping SWRV to an all-time high, and later dump it on traders who joined the bullish bandwagon at a later stage.

Following the pump-and-dump of Sushi, Kimchi, and the recently failed Hotdog, it would be safer to say that these DeFi-clone projects could pose severe investment risks.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

top criptomonede cu potential

Ce proiecte noi din presale pot urca în 2025 printre top criptomonede?

În ultimele 24 de ore, piața crypto a scăzut cu aproape 2%. Mulți investitori și-au luat profiturile după creșterile recente,...

antonio 2 hours ago
биткоин

«Большая политическая новость» для Биткоина

В криптосфере политические решения формируют долгосрочные тренды, влияя не только на цену активов, но и на то, как люди осваивают...

daria 4 hours ago
Bitcoin Hyper išankstinis pardavimas perkopė 17 mln. USD ribą

Bitcoin Hyper išankstinis pardavimas perkopė 17 mln. USD ribą

Vos per penkias dienas Bitcoin Hyper (HYPER) pritraukė daugiau nei 1 mln. USD naujo finansavimo, o bendra išankstinio pardavimo suma...

Tomas Jankūnas 5 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Solana

Solana Faces Deadly Selling Pressure After 312,233 SOL Deposit Into Coinbase – Here’s The Value

Scott Matherson 22 minutes ago
Eerste Chinese stablecoin debuteert - wereldwijde crypto race verhit

Eerste Chinese stablecoin debuteert – wereldwijde crypto race verhit

Lars Diederiksen 32 minutes ago
ethereum eth ethusd crypto

Altcoins Hit Hard as Week Starts With $1.7 Billion in Crypto Liquidations

James Halver 1 hour ago

Premium Sponsors

Press Releases

  • 5 criptomonede care pot atinge o capitalizare de 10 miliarde de dolari în bula cripto din 2025

    5 criptomonede care pot atinge o capitalizare de 10...

    1 minute ago
  • Najbolji meme coini za kupnju sada, dok se tržišna...

    34 minutes ago
  • ドージコイン 今後の価格予測:再び大きな上昇はあるのか

    ドージコイン...

    56 minutes ago
  • リップル 今後の価格予測:今は買い時か?

    リップル 今後の価格予測:今は買い時か?

    1 hour ago
  • 米国ビットコイン準備法案で強気の供給不足が予想される中で注目すべき仮想通貨プレセール

    ...

    2 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.