A cryptocurrency linked to a security-focused wallet, called Safe (SAFE), has seen a huge jump in price, gaining over 43% in a single day. This outpaced the overall crypto market, which only saw a 1% increase.
What is Safe?
Safe is a smart contract wallet that works on multiple blockchains. This means you can use it to manage your crypto assets across different networks. The SAFE token powers this wallet and has been on a roll recently.
SAFE’s Recent Gains
The price of SAFE is currently trading at $1.36, up from $0.95 just a day earlier. It’s also seen a 55% increase in the past week and a whopping 74% gain in the past month.
This surge in price comes after Safe announced the launch of a new feature called “gasless deployment.” This allows users to manage their assets across 15 different networks without paying any transaction fees.
Safe’s TVL
Safe’s total value locked (TVL) is five times larger than Robinhood’s centralized exchange. TVL is a measure of how much money is deposited into a protocol’s smart contracts. A higher TVL generally indicates a healthier crypto ecosystem.
SAFE’s Future
Despite the recent gains, SAFE is still down 61% from its all-time high of $3.56. It remains to be seen if this recent surge is a sign of things to come or just a temporary bump in the road.
Disclaimer:
This information is for educational purposes only and should not be considered investment advice. Always do your own research before making any investment decisions. /p>
