Bybit Buzz Propels Solana’s Tapswap TAPS Token: Price Surges Over 5%

• Solana-based trading platform Tapswap has gained attention with the launch of its native TAPS token, after the recent ICO.
• Tapswap offers a comprehensive ecosystem for trading, mining, staking, and governance, emphasizing decentralized finance (DeFi) applications and innovative token mining.

Solana-based trading platform Tapswap has been recently in the news, especially after the launch of its native cryptocurrency TAPS token. The mining-focused project has witnessed a surge in the popularity of its TAPS token following its recent Initial Coin Offering (ICO).

Tapswap operates on the Solana blockchain, offering a multifaceted ecosystem encompassing trading, mining, staking, and governance functionalities via its token. Tapswap Coin is tailored for decentralized finance (DeFi), emphasizing inventive token mining and decentralized exchange (DEX) features within its ecosystem.

Tapswap aims to democratize token mining by integrating a user-friendly clicker game, fostering greater engagement and inclusivity in the DeFi landscape.

Understanding the TapSwap (TAPS) Tokenomics

apswap has revealed the tokenomics for its TAPS token, which will have a total supply of 1 billion tokens. The allocation breakdown is as follows:

• Active Community Members: 500 million TAPS (50%)
• Platform Development and Marketing: 300 million TAPS (30%) reserved for development, innovative projects, and marketing.
• Development Team and Founders: 100 million TAPS (10%) will be allocated, with these tokens locked and released over four years to ensure alignment with community interests.
• Advisory, Marketing, and Liquidity: The remaining 10% will support advisory roles, marketing efforts, and liquidity enhancement.

The token launch is part of phase two of Tapswap’s project roadmap.

TAPS Price Rally to Continue After Launch

Analysis of the Tapswap price trend reveals that TAPS was trading at approximately $0.0085 at its launch on May 8. Since then, it has seen a notable increase, currently trading at around $0.0106, reflecting a rise of over 5%.

The price trend shows substantial daily increases, with the highest daily surge recorded on May 15 at 9.52%. Despite these gains, TAPS has yet to be listed on any major exchanges. However, a poll on its X page suggests that Bybit might be the first to list TAPS. Additionally, Tapswap recently announced that its platform now boasts 17 million players.

The Solana ecosystem has witnessed key developments on its way to challenge Ethereum over the long term. Decentralized Finance (DeFi) has been one of the strongholds for Solana due to the very low gas fee that the platform provides. Thus, Solana has been the best alternative to Ethereum for DeFi platform over the years. As reported by Crypto News Flash, the total value locked (TVL) on the Solana blockchain has surged by nearly 10 in six months.

However, it has recently ventured into other the world of meme coins and has delivered top projects such as Dogwifhat (WIF) and BONK.

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