While crypto markets have been trading sideways over the week, several metaverse coins have seen significant price gain, with CryptoSword (SWD) gaining over 400% today as others see only a double-digit percentage price increase.
At the time of writing, it was $0.1421; up 453% in the last 24 hours according to CoinMarketCap. It has hit a high of $0.3158 and a low of $0.02447 in the last 24 hours.
But why is the SWD coin rallying? Here is a deep dive into the behind-the-scenes of the current CryptoSword bullish trend.
What Is CryptoSword?
Before we look into the current CryptoSword bullish trend, it is important that we first explain what CryptoSword is for the sake of those who do not know what it is.
In a nutshell, CryptoSword is a Metaverse-based Game-Fi project on Binance Smart Chain that allows gamers to play games and also earn as they play. Its native cryptocurrency is SWD.
The CryptoSword players must have more than one sword in their wallet to start playing the sword battle. A sword costs $50+ 0.04 BNB, which is a reasonable price to start with.
There are different swords with different styles and levels. The swords include Legendary, Mythical, Common, Unique, Epic, and Rare.
The game also has Rounds that reset once a day, however, the number of times a sword can enter the fight and last time corresponds to the Rounds.
Players challenge mysterious enemies depending on the sword level after minting their swords. The players then receive rewards depending on the fight level difficulty. Players receive a base reward of 5USDT worth of SWD tokens.
The game is looking forward to developing a complete Metaverse experience where players can go to battle mode and fight unknown bosses after practicing and training their skills, the skill level of the player will be related directly to the number of rewards to earn. However, some features are not yet available since the game is still under development
Why Is Crypto Sword (SWD) price rallying?
CryptoSword (SWD) coin has been bearish since it was listed on CoinMarketCap on 10th January 2022; something that changed today after the coin surged by more than 400%.
Today on their Twitter handle, CryptoSword announced that their V2 metaverse Battle Mode is fully complete ready to open for the public.
🪐V2 Metaverse Battle Mode is now fully complete and opened!🪐
⚔️Come and experience the exciting battle! ⚔️
— CryptoSword | Play to Earn NFT Game (@CryptoSwordsP2E) January 26, 2022
The announcement about the new features has excited crypto traders resulting in a significant trading amount volume of $ 4.3 million and a fully diluted market cap of $762,771.