Swipe is one of the best performing cryptocurrencies during the daily timeframe with a surge of nearly 30% and a 20% increase during the past week. The cryptocurrency peaked during May and fell to market corrections and the bullish momentum of the subsequent months was not as strong as expected. The token had been under strong bearish pull to the downside as December begun and spent most of the month on a bearish note. However, as the month of December approached its end, the cryptocurrency begun trending upwards and has now broken its downtrend. At the time of writing, the cryptocurrency stands at a price level of $2.05. 

What problem is Swipe trying to solve? 

While advocates of cryptocurrencies argue about the advantages of crypto over fiat currencies, with the current division of the global financial ecosystem the optimal solution is that cryptocurrency and fiat currencies should operate in tandem. As cryptocurrencies are still far from achieving the status that fiat currencies have – if that is even possible – the integration and interoperability between these two asset classes in integral for a smooth financial ecosystem. This is exactly the niche that Swipe is working in. The platform is aiming to be the bridge between fiat and cryptocurrencies through its blockchain-powered global payment cards. 

Acquisition by Binance 

The month of December saw major developments for the network. One of the major updates that occurred during the month is that Binance fully acquired Swipe. Earlier, the platform had been working alongside Binance with Binance being the major shareholder. Now, it will be acting as Binance’s card program manager and technology platform. Given the success and solid footing of Binance as one of the major crypto exchanges in the world, good things can be expected from the platform as it achieves new heights of success. 

Now that the management of the network has changed, one of the initial major changes that took place was the rebranding of the network. Swipe is on its way to rebrand to Solar. The main objective behind the rebranding is to transform the current architecture of the platform into one that is in line with a greener world. Solar will be a completely decentralized and energy-efficient platform and will continue to use the SXP as its native token. The exchange support will be rolled out soon and the rebranding of Swipe to Solar will occur during the first quarter of 2022. Suffice it to say, the coming year has a lot in store for the network.