A security-focused crypto wallet’s altcoin experienced a remarkable surge of over 43% in just one day, surpassing the overall crypto market performance.
Safe (SAFE) is a smart contract wallet that operates on various blockchains.
Currently, the project’s native token, SAFE, is trading at $1.36, a significant increase from $0.95 on the previous day. This 124th-ranked crypto asset by market cap has seen a surge of almost 55% in the past week and over 74% in the last month.
In comparison, the overall crypto market cap has only risen by 1% in the same period, as per CoinGecko.
Danilo Pereira, a product marketer at Safe, highlighted that the project’s total value locked (TVL) is five times greater than that of Robinhood’s centralized exchange, emphasizing the strength of the crypto ecosystem.
Following the surge in SAFE’s price, the project recently introduced gasless deployment with a unified address across more than 15 networks, offering enhanced flexibility in asset management.
Despite this week’s gains, SAFE is still down 61% from its peak of $3.56 achieved shortly after its launch in April.
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Image Source: Midjourney