Safe (SAFE), an altcoin linked to a security-focused crypto wallet, experienced a remarkable surge of over 43% in just one day, surpassing the broader crypto market. The project revolves around a smart contract wallet called Safe, which operates across multiple blockchains.
As of the latest data, the native token of the project, SAFE, is priced at $1.36, a significant increase from its value of around $0.95 the day before. This impressive performance places SAFE as the 124th-ranked cryptocurrency by market capitalization, with a remarkable surge of nearly 55% in the past week and over 74% in the past month. In comparison, the overall crypto market cap has only risen by 1% over the same period, according to CoinGecko.
Danilo Pereira, a product marketer at Safe, highlighted the project’s significant achievement in terms of total value locked (TVL), which is reported to be five times larger than the TVL of Robinhood’s centralized exchange. TVL is a crucial metric that indicates the amount of capital deposited within a protocol’s smart contracts and is often used to assess the strength of a crypto ecosystem.
Following the substantial price gains of SAFE, the project recently unveiled the launch of gasless deployment with a uniform address spanning over 15 networks. This new feature is lauded for providing unparalleled flexibility in asset management. Despite the recent surge, SAFE still lags behind its all-time high of $3.56, which was reached shortly after its launch in April.
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In conclusion, the remarkable performance of SAFE in the market reflects the growing interest in security-focused crypto wallets and smart contract platforms. With its innovative features and strong community support, SAFE continues to demonstrate its potential for future growth and adoption in the crypto space.