CHESS (Tranchess) up 36.78% in 24 hours

According to Gate News Bot on December 3, citing CoinMarketCap data, as of press time, CHESS (Tranchess) is trading at $0.04, up 36.78% in the past 24 hours, reaching a high of $0.05 and a low of $0.03. The current market capitalization is approximately $8.03 million, an increase of $2.16 million from yesterday.

Tranchess is a decentralized finance platform offering services such as liquid staking, leveraged trading, and stable yield. Its main features include:

1. Liquid Staking: Users can stake assets like ETH and BNB to earn sustainable yields while maintaining asset liquidity.

2. Turbo and Stable Products: Investment options offering high leverage and stable returns.

3. Tranche Structure: BISHOP tokens are pegged to the US dollar and fully backed by ETH, BNB, and BTCB; ROOK tokens provide leveraged long exposure to ETH, BNB, or BTC.

4. Governance Token CHESS: Holders can participate in platform governance and receive revenue-sharing benefits.

Tranchess aims to provide users with diversified DeFi investment strategies and yield enhancement tools.

Recent important news about CHESS:

1️⃣ Web3 Chess Platform AniChess Integrates CHECK Token AniChess has integrated the CHECK token as a skill-based rewards mechanism. This move aims to enhance the player experience through blockchain technology, offering new incentives for chess enthusiasts. The introduction of the CHECK token may attract more users to the Web3 chess ecosystem, indirectly increasing attention and demand for CHESS.

2️⃣ Animoca Brands Launches Web3 Chess Game AniChess Leading blockchain gaming company Animoca Brands has launched the Web3 chess game AniChess, with support from world chess champion Magnus Carlsen. This high-profile game release may bring more attention to chess-based cryptocurrency projects, and as a chess-related token, CHESS could benefit from this trend.

3️⃣ Overall Recovery in the DeFi Market As the overall sentiment in the cryptocurrency market improves, decentralized finance (DeFi) projects are once again attracting investor attention. As a DeFi platform offering liquid staking and leveraged trading, Tranchess may be gaining momentum from this trend, driving the price of the CHESS token higher.

From a technical perspective, the CHESS token price has broken through previous resistance levels, with significantly increased trading volume, indicating strong upward momentum. However, investors should remain cautious of possible pullbacks after rapid price increases.

This information does not constitute investment advice. Please be aware of market volatility risks when investing.