SWTCH (Switchboard Protocol) rose 15.08% in 24 hours.

Gate News Bot news, on September 16, according to CoinMarketCap data, SWTCH (Switchboard Protocol) is currently priced at 0.13 USD, with a rise of 15.08% in the last 24 hours, reaching a high of 0.20 USD and a low of 0.08 USD. The current market capitalization is approximately 217,000 USD, an increase of 28,500 USD from yesterday.

Important news about SWTCH recently:

1️⃣ Gate's initial launch drives liquidity improvement SWTCH was launched on September 9 for spot trading on Gate, while also starting the Launchpool activity. Users can participate in mining by staking GUSD and SWTCH, with a total of 537,190 SWTCH tokens distributed to participants over 4 days. This initiative significantly increased the liquidity and market attention of SWTCH.

2️⃣ Multiple trading functions will be gradually opened Gate will successively launch perpetual contract trading for SWTCH on September 9 from 20:10 to 22:10, supporting 1-20 times leverage. At the same time, it will open up functions such as unified account lending, isolated margin trading, Yubibao wealth management, and collateralized lending. The introduction of these features provides more trading scenarios for SWTCH and helps attract more investors to participate.

3️⃣ Airdrop events stimulate market demand The SWTCH airdrop has recently opened for inquiries and claims, lasting for 30 days. At the same time, the Backpack platform has also launched the SWTCH airdrop activity, providing different reward amounts based on the badge level held by users, with a maximum of 2000 SWTCH available. These airdrop activities effectively stimulate the market demand for SWTCH.

From a technical perspective, SWTCH, as a high-speed and customizable permissionless oracle network, processes data 300 times faster than other oracles, providing market data services for over 51 protocols. This technological advantage may be a long-term factor supporting its price rise.

This message is not intended as investment advice; investors should be aware of market volatility risks.