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    Multichain Backend Upgrade Delay

    The Multichain Token experienced a significant price plunge of 30% due to a backend upgrade delay. In order to gain valuable insights and understand the repercussions of this news, we are seeking skilled data analysts to conduct a comprehensive analysis of relevant data points. The goal is to provide a thorough understanding of the Multichain Token's current state and its potential impact on the market, with a specific focus on the repercussions of the backend upgrade delay.

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    What Is Multichain (MULTI)?

    • As a cross-chain router protocol (CRP), Multichain is an infrastructure for on-chain asset interoperability, envisioned to be the ultimate router for Web3.

    • Multichain was born as Anyswap on the 20th July 2020 to service the clear needs of different and diverse blockchains to communicate with each other. Each blockchain has its own unique services that it provides, its own community and its own development ecosystem. For our industry to reach the next level for consumers, we need a fast, secure, inexpensive and reliable way to exchange value, data and exercise control between the chains [Link].

    Methodology

    • This dashboard will investigate the Multichain platform and the effect of the update delay on this platform and on this platform's token, $MULTI.
    • Also, I try to look at token price, token swap stats, token transfer stats, multichain performance, and compare the networks this platform is available on them together.

    Summary

    • It seems that this delay in the update has a negative effect on the price of the $MULTI token as the price of this token crashed and fell from $7.6 to $3.4.
    • In addition, the number of transfer transactions, users and volume of the $MULTI token increased after the delay instead of before, and the number of Swap transactions and Swappers of this token also increased after this delay, whereas before This delay the volume of Swap of this token was higher than after it.
    • On the other hand, it seems that this delay also has a negative effect on the Multichain platform as the number of Transactions, Users and Volume of this platform decreased after the delay.
    • Likewise, this delay has a negative effect on the Number of daily Transactions, Users and volume, since after the delay the trend of these factors is downward.
    • Also, Arbitrum has the most transactions while BNB has the fewest transactions, and Ethereum has the highest volume while Avalanche has the lowest volume among these networks.
    • Totally, this delay has a negative effect on this platform and the main question is whether this platform can handle these issues or not.