Anonify’s utility token, ONI, has suffered a significant drop of over 90% in the past few weeks, which is in contrast to the recent notable increase in cryptocurrency prices, with Bitcoin reaching new highs. The token experienced a surge in demand following its launch on Feb. 20 and achieved an all-time high of $1.18 on Feb. 28, only to fall to $0.01974 by March 13, raising concerns about a potential rug pull. Anonify is a privacy-centric Telegram bot that claims to facilitate secure cross-chain swaps across various blockchains, emphasizing complete anonymity and confidentiality for users’ identities. The project’s Blast Bridge aims to enhance the user experience by enabling smoother interactions between Ethereum and the Blast Layer 2 network. However, some users prematurely accessed the Blast L2 mainnet using an Ethereum contract address, bypassing the official bridge, which led to the team delaying the activation of their bridge to mitigate potential risks. Despite shutting down the Blast -> ETH bridge due to a lack of significant demand, Anonify revealed plans to repurpose the UI for a forthcoming web app designed to offer a more seamless swapping experience.

Investors in ONI have expressed their concern about the recent developments within the Anonify project. However, some investors believe that the project’s anonymous creator, “Snup,” has a plan, and that the current market cap could be a potential investment opportunity. Crypto.news has witnessed further complaints from some users about the project’s management and the absence of marketing efforts for a project with an operational product. At the time of writing, the token was priced just $0.02474, down 97.9% from its all-time high price.

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