Waltonchain has been really struggling in terms of prices and has struck its new all-time low of $0.32. However, Waltonchain has finally completed its mainnet Waltonchain token swap worth $4 million. After completing its swap on Binance, WTC price shot up by more than 50% ending on a 24-hour high of $0.45. However, this token swap has brought in some mixed reactions from people.
Waltonchain Token Swap- Was it needed?
As mentioned above, WTC was really struggling throughout most of the 2018 and complete 2019. It reached an all-time high of $45.96 a couple of years back. When Waltonchain’s CEO Do Sang Hyuk revealed their 2020 plans, one of them was to successfully complete Waltonchain Token Swap. It is expected that they will also be able to finish their dApp ecosystem by the end of the second quarter this year.
When the news of a successful token swap came out on Twitter from the official Waltonchain’s account, it was viewed as a positive sign by a lot of people and thus the price shot up immediately. A user replied,
Thank you! I honestly thought WTC would die off before a token swap. This ensures the reality of your project.
Waltonchain token swap met with chaos
A lot of people are expecting that 2020 will be the year of WTC again. While these were some positive signs, some of the users were completely lost with the Waltonchain token swap and the chaos associated with it.
The $4 million Binance exchange is a part of a larger process. Waltonchain is now migrating to their indigenous mainnet which is, of course, a huge step ahead by the company. A token swap is a process in which the tokens are exchanged for coins. This usually happens when the users are migrating from one platform to the other. EOS and TRON were a part of a similar exchange when they migrated to their mainnet.
Featured image from Twitter.