In recent news, the price of QUICK, the native token of Quickswap exchange, has surged significantly following speculations about an upcoming major update. Quickswap, the largest decentralized exchange on the Polygon network, boasts a total value locked (TVL) of 178.98 million USD, according to DefiLlama.
The cryptocurrency community has been abuzz with rumors about Quickswap’s planned update, which is said to introduce a feature for trading derivatives similar to GMX. Additionally, the exchange reportedly plans to distribute fees from exchanges to token holders. A tweet from the account @Dudesignals, which has 15,000 followers, fueled the rumors, stating that “QUICK Super bullish update incoming! Big things are coming for this one. They will be releasing a PERP exchange similar to GMX. Also will distribute fees from exchanges to token holders.”
$QUICK Super bullish update incoming!
Big things are coming for this one. They will be releasing a PERP exchange similar to $GMX. Also will distribute fees from exchanges to token holders.
These obviously are not confirmed infos but token just jumped 30% but mcap still super low!— The Dude (@Dudesignals) February 19, 2023
Despite the lack of an official announcement, QUICK’s price has already surged to 150 USD, representing a 110% increase in the past 24 hours. TradingView reports the token is currently trading at 107 USD. The rumors about Quickswap’s upcoming update have generated excitement and attention within the cryptocurrency community.
Polygon’s recent announcement that it plans to deploy a Zero-knowledge Ethereum Virtual Machine (zkEVM) network by the end of March has further piqued interest in its technology, particularly in zkRollup. DefiLlama reports that the total value of assets locked on Polygon (TVL) has already surpassed 1.16 billion USD, reflecting a more than 10% increase since the start of 2023.
Although the rumored update has not been confirmed, it has created a buzz within the cryptocurrency industry, and traders are closely monitoring Quickswap’s developments. As @Dudesignals noted, if the update comes to fruition and the market remains bullish, QUICK could experience a ten-fold increase, thanks to the new fundamentals.
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