Friday, 12 April 2024
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Pangolin (PNG) soars, 24-hour volume up staggering 5500%

Pangolin (PNG) soars, 24-hour volume up staggering 5500%

  • Pangolin, a multi-chain DEX platform, has surged to multi-month highs.
  • PNG price reached highs of $0.31 as new team outlined comeback roadmap for the DEX

Pangolin (PNG), an Avalanche decentralized exchange (DEX) platform, is experiencing a price uptick as major altcoins struggle amid Bitcoin’s battle to keep the $50,000 level.

PNG is the native governance token of the Pangolin DEX. It is 100% distributed to the community with no team, advisors or investor allocations. The multi-chain DEX platform launched on Avalanche in 2021.

Pangolin (PNG) price soars

PNG rose more than 200% on Friday to trade at highs of $0.31 as 24-hour trading volume jumped to over $4.7 million. The surge in daily trading volume over the past day represents a staggering 5,500% increase, according to data from CoinMarketCap.

The Pangolin market cap has jumped to over $54 million, doubling over the past 24 hours.

Why is Pangolin price skyrocketing?

Gains for PNG price almost entirely constitute this past week’s upside, with the token having struggled to break above $0.12 since December.  

As well as the price, there’s been a rise in activity for the community-driven project. DeFiLlama shows a slight pick in TVL to $31.34 million. Pangolin’s sudden price surge comes as the DEX platform’s new team announced a roadmap aimed at returning it to its “former glory.”

Part of this roadmap includes the unveiling of a new UI/UX, introduction of new pools, token listings and a PangoVerse – a social media platform earmarked for rollout within a year.

Pangolin also announced support for BridgeSwap, bringing asset swaps across Ethereum, Avalanche and Binance Smart Chain to the platform.

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