Why Is PlayDapp (PDA) Price Up? Major Exchange Support for Token Swap Draws Investors’ Attention
The price of PlayDapp’s PDA token has jumped over 100% in the last 24 hours. This spike comes after a successful token swap from PLA to PDA, which also received support from major exchange Binance.
As cryptocurrency analyst Crypto Engineer (@Engineercryptoo) noted in a tweet, Binance officially rebranded from PLA to PDA, enabling users to swap and find the new PDA tokens in their wallets. Crypto Engineer had previously advised buying PLA around $0.18 before the swap. With the rebranding complete, those who followed this advice are now seeing major gains.
Beyond Crypto Engineer’s call, a likely driver of investor interest is the legitimacy conferred by Binance supporting the token swap process. Just days ago, PlayDapp (@playdapp_io) tweeted that they were in discussions with exchanges regarding handling the swap. Then on February 28th, they were able to officially announce “Binance Will Support the PlayDapp (PLA) Token Swap to PlayDapp (PDA).”
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Show more +With a top-tier exchange like Binance facilitating the swap, investors can feel more confident that the process will be smooth and their PDA holdings secured. This validation and ease-of-access is driving attention and higher prices for the freshly rebranded token.
Token Swap Completes Successfully
Beyond Binance’s involvement, the successful completion of the token swap itself is also likely boosting sentiment. After initially announcing the migration on February 28th, PlayDapp tweeted confirmations that deposits are now open for the new PDA token.
With the swap finished without issues, investors can access the rebranded token and are bidding up prices in response. PDA adoption should also accelerate as exchanges fully integrate the new branding.
Overall, exchange support from Binance and the smooth swap process is leading to surging interest and prices for PlayDapp’s revamped PDA token. With the fundamentals looking healthy after the migration, investor attention and token velocity is poised to increase in the sessions ahead.
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