{"id":79485,"date":"2023-05-29T12:42:56","date_gmt":"2023-05-29T09:42:56","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=79485"},"modified":"2025-09-11T11:20:00","modified_gmt":"2025-09-11T08:20:00","slug":"multichain-token-price-jumps-36-amid-ongoing-uncertainty","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/multichain-token-price-jumps-36-amid-ongoing-uncertainty\/","title":{"rendered":"Multichain token price jumps 36% amid ongoing uncertainty"},"content":{"rendered":"

The MULTI token price for the Multichain cross-chain protocol jumped 36%, despite the persistent uncertainty surrounding the project.<\/p>\n

\"image-332\"
4-hour MULTI\/USDT chart on Binance. Data: TradingView<\/a>.<\/figcaption><\/figure>\n

A few days ago, users began reporting transactions stuck in the blockchain and an inability to withdraw their funds.<\/p>\n

The developers attributed the problems to a technical upgrade. On May 24, they said that all nodes except one were functioning normally. However the protocol’s token plunged amid the unfolding events<\/a>.<\/p>\n

Around the same time, rumours of the Multichain team’s arrest in China circulated in the community.<\/p>\n

\"2-Multichain-Previously-Anyswap-Admin-dont-DM-6\"
Data: Telegram<\/a>.<\/figcaption><\/figure>\n

Mor, the company\u2019s vice president of strategic partnerships, has been engaging with the community in recent days. It remains unclear where co-founder Zhaojun is located, The Block noted. Users are also wondering why the Multichain CEO has not been in contact.<\/p>\n

According to CoinGecko<\/a>, in the last 24 hours the price of MULTI rose 36% \u2014 from below $3.50 to $4.68. At one point the price approached $5.30.<\/p>\n

\"Multichain-Price-MULTI-Live-Price-Chart-News-CoinGecko-Google-Chrome\"
Data: CoinGecko.<\/figcaption><\/figure>\n

On the project’s social-media channels, users continue to ask what the term “force majeure” means, which the team used to explain that the protocol remains in a partially autonomous state.<\/p>\n

In the Chinese-language Multichain Telegram channel, an administrator said that they must await the “return of Zhaojun”. It is unclear what he meant by this.<\/p>\n

Over the past week, some crypto companies and entrepreneurs have taken steps to mitigate the impact of Multichain’s problems on their operations. They include Fantom Foundation, Binance<\/a>, Hashkey Group, Tron founder Justin Sun and Conflux.<\/p>\n

According to DeFi Llama<\/a>, the total value of assets locked in the protocol remains at around $1.52 billion.<\/p>\n

\"image-332\"
Data: DeFi Llama.<\/figcaption><\/figure>\n

The developers of Multichain previously promised compensation to users affected by the stalled transactions.<\/p>\n","protected":false},"excerpt":{"rendered":"

The MULTI token price for the Multichain cross-chain protocol jumped 36%, despite the persistent uncertainty surrounding the project.<\/p>\n","protected":false},"author":1,"featured_media":79486,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1210,1093,2277],"class_list":["post-79485","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cross-chain-protocols","tag-defi","tag-multichain"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79485","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=79485"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79485\/revisions"}],"predecessor-version":[{"id":79487,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79485\/revisions\/79487"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/79486"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=79485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=79485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=79485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}