Binance KAVA, LUNA, SXP and BAND projects have performed well
Four major crypto projects linked to Binance through Mergers and Acquisitions (M&A) or Launchpad are on the rise in the cryptocurrency market. The four projects, interestingly, are among the main winners in the last 24 hours, according to the CoinMarketCap.
Projects include Swipe (SXP), which was acquired by Binance for an undisclosed amount earlier this month. Just two weeks after the acquisition, the digital token Swipe is now on the rise with a 41% increase in prices in the last 24 hours.
The Swipe platform allows users to purchase digital assets using debit cards. The authorization amount in the application is automatically converted into crypto assets with the help of the Visa payment network. Swipe is being used in 31 countries at the moment and the nations are mostly in the European Union.
In addition to the Swipe token, three digital assets from Binance LaunchPad are also on the market. Projects like KAVA, BAND and LUNA have their tokens with excellent performance in the market. The BAND token, for example, has seen a 46% price increase in the past 24 hours. The digital token remains among the main winners, according to CoinMarketCap.
The same can be said of KAVA and LUNA, which have an increase of 31% and 21% in prices, respectively.
The reasons behind the sudden price increase cannot be determined at the time of publication of this text. However, the general cryptocurrency market is still gaining strong traction on the positive side, as it continues to alternate between bulls and bears. Bitcoin and some other popular tokens are currently in the green.
Binance founder and CEO Changpeng Zhao, popularly called CZ, believes that the cryptocurrency market is gradually leaving the winter period and may begin to see a tumultuous price spike soon.
Bitcoin currently maintains a stable balance, just over $ 9,000, just after witnessing a price drop of over $ 10,000 at its biggest recent high.