According to market data, swell saw a high of 0.0675 at around 18:00, a low of 0.0534 at around 02:00, with a 24-hour increase of 16.53% and a trading volume of $6.88m.



the price fluctuation can be attributed to the following factors:



1. influenced by the crypto market: the price fluctuations of other cryptocurrencies in the market also have an impact on the price of swell.


2. market demand and supply: the significant increase in trading volume may indicate that more investors are actively trading swell, leading to higher price volatility.


3. external events: any major news, such as the announcement on nov 9 regarding the expected release of the new version of swell, including upgrades to the core infrastructure, automatic liquid restaking, and governance functions, can also attract traders' and investors' attention, causing price fluctuations.


4. other factors: regulatory news, macroeconomic policies, and major event risks can also have an impact on the price of cryptocurrencies like swell.


a single event can cause significant price fluctuations, and it requires existing swell users to actively participate, hold their tokens, and govern around governance initiatives that occur on the swell dao platform.