After a quick 1,000% gain, Centric Swap leads “Uptober” Here are some reasons it could go higher

CNS price rose by approximately 1,000% over the past five weeks as new partnerships, chain migration, and the promise “announcements upon announcements” attracted new investors.
The price of Centric Swap (CNS), which is a dual-token model that offers stakers a fixed hourly yield and “stabilizes over the time as it self regulates token supply to meet ongoing changes of demand,” has risen 1,130% to $0.0017659 on October 15 and its 24-hour trading volume jumped 130% to $6.4million. CNS/USDT 4-hour chart. Source: TradingView. There are three reasons why CNS prices have risen rapidly. One is the expansion of the project’s ecosystem through partnerships. Two is Binance’s $1 billion investment in the DeFi ecosystem on Binance Smart Chain (BSC). Three is the promise of many upcoming developments and announcements from the project’s developers. The Centric ecosystem grows. Real-world adoption is a good validation signal for a project. A $1 billion injection by Binance into the DeFi ecosystem on the Binance Smart Chain (BSC) has led to the rapid rise in CNS price. There are also multiple upcoming developments and announcements by the project’s developers. Another partnership is with Goldgenie, a company that specializes in high-end items such as gold-plated phones, and a partnership to the decentralized cross-chain bridge CroxSwap. Binance Smart Chain invests CNSOn July 15. Centric Swap migrated to the Binance Smart Chain from the Tron network. This allowed the project to trade on BSC, which has helped increase its visibility and increased its trading volume. This was a good move as Binance announced recently that it would invest $1 billion in the development of the DeFi ecosystem on BSC, which Centric Swap now belongs to. In recent months, protocol investments and developer incentive plans have become more popular after several projects such as Terra, Fantom, and Avalance used this tactic to grow their communities, and to attract liquidity to their DeFi ecosystems. Each case saw a strong rise in the token prices of each project. Who is most excited about this week’s (Thursday) partnership announcement? A special promotional offer will be given to the first 100 people who sign up! Don’t miss it! $CNR $CNS #BSCGem #BSC #BinanceSmartChain pic.twitter.com/nZR6hVHW3k– Centric Official (@CentricRise) October 6, 2021

An announcement approach is a popular marketing tactic in the cryptocurrency sector. However, it remains to be seen whether this will result in a sustained price increase or a buy-the-rumor, sell-the news scenario. One Twitter user suggested that the project would be nothing more than a “buy rumor, sale the news” event. However, Centric chief operating officers Thomas Butcher rejected the idea and stated that Centric has more news in the pipeline in the next months. Butcher stated that it didn’t matter that there was more news behind the news and more news to follow that news. You can see the pattern we are entering. You should do your own research before making any investment or trading decision.

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