Biconomy launches SWELL token listing and introduces Swell staking accessibility to users

Biconomy, a global cryptocurrency exchange, today announced support for Swell network (SWELL), a growing liquid staking platform that allows users to earn passive income by staking or re-staking ETH. The exchange revealed through its social media accounts that SWELL is currently listed on its spot trading platform. This listing provides Biconomy customers with access to SWELL tokens designed for Ethereum staking and re-staking.

Swell token listing and staking program on Biconomy

As a rapidly emerging liquidity staking platform, Swell Network innovatively enables people to earn passive income through staking and re-staking ETH. Through its non-custodial liquid staking and re-staking protocol, Swell Network eliminates traditional barriers to DeFi entry by allowing people to stake or re-stake any amount of ETH without having to invest the traditional minimum of 32 ETH.

According to the announcement, this listing means spot trading of SWELL will now be available on the Biconomy exchange, allowing users to trade assets through cross-chain interoperability capabilities. The introduction of the staking program will also allow Biconomy customers to use their assets within the exchange, unlock them on the Swell staking platform, and earn money on their tokens without losing liquidity.

This integration highlights Biconomy’s broader strategy to expand the effectiveness of its digital asset trading platform through integration with innovative DeFi projects, enabling customers to enjoy greater rewards and benefits.

Liquid Staking TVL and Increased User Adoption

According to the latest CoinMarketCap indicators, Swell Network’s TVL has experienced an impressive rise and currently stands at $180 million. A bullish indicator of recent increased market activity. Even though SWELL currently faces market difficulties with relatively low prices, the increase in TVL suggests increased usage on staking platforms. The increase in SWELL token bridges is driven by the proliferation of power companies in liquid staking solutions, indicating that circulating supply dynamics are tightening.

According to the latest DeFiLlama metrics, Liquid staking protocols currently hold a total of $64.622 billion worth of TVL, demonstrating growing user trust in staking networks and renewed appetite for yield-producing crypto products.

Lido maintains its market-leading position as the top Liquid staking protocol with a TVL of $29.79 billion. Binance Staked ETH is in second place with 12.06 billion TVL. Jito Liquid Saking and Rocket Pool occupied third and fourth place with TVL of $2.34 billion and $2.15 billion, respectively.