Crypto exchange Sideshift’s SLP token, SAI, has scored remarkable gains in value this week. Its price jumped well over 30% on Thursday, from $0.0310 per coin early on Nov. 28 to over $0.0450 a few hours later, and to a record high of 0.0473 on Friday, Nov. 29.
SAI Maintains New Higher Price Range
SAI is the native token of Sideshift AI, an automated coin swapping platform that allows users to quickly exchange around two dozen cryptocurrencies, including bitcoin cash (BCH), bitcoin core (BTC) and several stablecoins. Of course, it supports SAI as well, which exists as a Simple Ledger Protocol (SLP) token, an ERC-20 token and on the Liquid inter-exchange settlement network. It has a limited supply and only 210 million SAI will ever be minted.
The token is currently used to pay out rewards that can be earned by becoming a Sideshift affiliate. The exchange plans to increase its implementation in interactions with its services and other vendors. That includes rewards for takers of exchange orders, rebates when using SAI to pay fees, discounts for SAI merchant payments, paying employees, contractors, service providers, and partners in SAI. In the future, the crypto may be used to “buy-and-burn” Sideshift AI profits, offer trade incentives, and create merchant discounts, the platform’s website details.
For the better part of the past 10 days, SAI’s price stayed in the range between a low of $0.0272 and a high of $0.0346, data provided by markets.Bitcoin.com shows. A significant upward movement began on Thursday, Nov. 28, when the price jumped from around $0.0308 to a record high of 0.0473 the following day, an increase of