The SWITCH Token has been busy lately with first being launched on the decentralized exchange, Uniswap, on February 23rd and then being listed on CoinMarketCap on April 7th.
SWITCH debuted on Uniswap in February at a price of $0.0035 but has recently seen highs of $0.015 and at time of writing is sitting at close to a penny with average trading volume of over $200,000 per day.
Uniswap is a leading decentralized cryptocurrency exchange that runs on the Ethereum blockchain. Uniswap is a peer-to-peer exchange that uses smart contracts to facilitate trades. CoinMarketCap is the world’s most-referenced price-tracking website for cryptoassets and provides prices, charts and data on listed currencies.
The community surrounding the Switch Blockchain continues to grow in numbers on platforms such as Twitter, Discord and Reddit. At time of this writing the SWITCH ERC-20 token was held in over 1300 individual wallets, which is verified by the Etherscan block explorer.
Whereas some tokens are created from ICOs, or Initial Coin Offerings, the SWITCH Token is minted on and by the Switch Blockchain as a digital reward for node owners who own and host node licenses that power the blockchain. The Switch Blockchain is managed by a Charter that was voted in and approved by node owners. The SWITCH Token is an ERC-20 Token that has been bridged over to the Ethereum Network from the Native Switch Blockchain. According to its Litepaper, SWITCH will have a Max Supply of 50 Billion Tokens.
For more information about Switch Reward Card (the company), Switch Nodes and the rest of their blockchain-based financial ecosystem including the Switch Trading Platform and the Switch Card product, please visit www.switchrewardcard.com.
DISCLAIMER: This article is not intended as financial advice. Educational purposes only.
