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Vandana Malik
Jun 9, 2020
by Vandana Malik

Storm Price Increases by Three Times After Token Swap Announcement

Storm
StormX has recently announced the token swap and planned to start the swap from June 08, 2020. After this announcement, it has been seen that there was a triple increase in the price of the Storm token. The storm is the native token of the mobile app by StormX and it allows the users to stake its tokens in return for various rewards. The first increase in price took place when the platform announced a reward of $50 for all those holders which are holding more than 310,000 Storm tokens. After this, another surge took place after token swap announcements due to which there has been a triple increase in the price.

Storm token swap begins today

The token swap that the firm announced back in the previous month will start from today i.e. June 08. With this token swap, the ticker will be changed from STORM to STMX. All the users of the firm will be able to easily exchange their tokens to STMX with the help of smart contracts by StormX. Other than this, they can also do it with the help of other partner exchanges like Binance, Kyber and many others.

Back in September 2019, it was revealed by the U.S. Department of Justice was extorted for a huge amount of Ethereum. Due to this, there was a huge decline in the price of the STORM token. After this recent increase in price, the price of token has reversed back to the price which it had in September 2019.

Token swap to introduce out-of-app staking

Simon Yu, CEO of StormX has revealed that with this token swap there will be a completely new out-of-app staking for token holders. It will offer various new rewards for Storm holders and along with this, there will be more new ways to earn. The power to create or destroy the tokens in an emergency situation will not be there in the new contract. Due to the huge growth of users on this platform, it is quite clear that the firm is now gaining momentum.

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    Storm Price Increases by Three Times After Token Swap Announcement
    Vandana Malik
    Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.

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