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Multichain’s Services Stopped Amidst Technical Challenges

Twitter icon  •  Published 1 year ago on July 7, 2023  •  Hassan Maishera

The Multichain team announced via Twitter on Friday that its services are currently down as it is facing technical challenges. T

Multichain’s Services Stopped Amidst Technical Challenges

The Multichain team announced via Twitter on Friday that its services are currently down as it is facing technical challenges. This implies that all bridge transactions will be stuck on the source chains.

Furthermore, the team said there is no confirmed resume time at the moment. Multichain has advised users only to use its services once the network is restored. 

Multichain, previously known as Anyswap, is a decentralized cross-chain swap protocol and bridge infrastructure. The Multichain platform supports multiple blockchains, which enables users to swap and bridge tokens across numerous chains on one platform. MULTI, the native token of the Multichain ecosystem, is down by 16% in the last 24 hours and currently trades at $2.61. 

 

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Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.