PawChain is a decentralized finance (DeFi) protocol that recently launched its own Layer 2 wallet, the PAWallet. The wallet, which was announced via Twitter, allows users to securely store and manage their crypto assets while also interacting with holders of PawChain's native token, PAW. The team is hard at work to develop a variety of unique features for the wallet. This news comes after the team's announcement that they would construct a customized cold storage wallet for their ecosystem.

Apart from the Layer 2 wallet, Pawchain recently created an aggregator which facilitates trades across multiple liquidity pools with PAW tokens being burned off going through each transaction. Currently, PAW's price is down around 9% after a briefhigh, yet the growth of the platform and its ecosystem remains steady.

At the moment, Paw/USDT has dropped significantly and is trading at levels lower than the 20-day EMA. In order for it to break to positive price action, the pair needs to rise above the 20-day EMA. In the short-term, the pair needs to break above the 50-day SMA at $0.00000002744 to signal a reversal of the current bearish pattern. Should the pair manage to close above this level, it could rise towards $0.000000020.

In conclusion, PawChain and its ecosystem continues to grow as they launch PAWallet as a Layer 2 solution. Providing greater security in storing and managing assets, this wallet could be beneficial to the PAW token and its holders in the long-term. Meanwhile, the pair needs to break the 50-day SMA in order for it to rise out of the bearishness it is currently facing.



Other News from Today