Mainnet launch and exchange listing cause Venom token to skyrocket by 30%
The price of the Venom token, the native cryptocurrency of the decentralized network operated by the Venom Foundation, has seen a significant increase of 30% in the past 24 hours. At present, the token is being traded at $0.7311, with a trading volume of $60.3 million.
This surge in VENOM’s market value can be directly attributed to the recent launch of its mainnet on March 28, which was accompanied by a VENOM token airdrop event. Venom is a Layer-1 blockchain that originates from the Abu Dhabi Global Market (ADGM) and is distinguished by its Layer-0 asynchronous blockchain technology.
One of the notable features of Venom’s blockchain is its unique mesh network architecture, which has been specifically designed to enhance scalability and efficiency. The aim is to promote the adoption of blockchain technology across various sectors, including government initiatives for stablecoins, Central Bank Digital Currencies (CBDCs), real-world assets such as carbon credits, and applications in payments and trade finance.
The Venom ecosystem is currently thriving with approximately 150 projects under development and 25 decentralized applications (dApps) on its Testnet. This progress is supported by the blockchain’s mesh network technology, which enables secure interchain communication and seamless integration and deployment of blockchains by sovereign nations and institutions. The ultimate goal is to achieve mass adoption through secure and decentralized networks.
In addition to the mainnet launch, the recent surge in price coincides with the listing of the VENOM token on the spot trading platform of KuCoin, a Seychelles-based exchange. To commemorate the listing, the Venom Foundation has announced an airdrop of 800 VENOM tokens to 500 selected addresses from KuCoin wallets.
This listing follows a previous announcement from OKX, a global cryptocurrency exchange, which listed VENOM on its futures trading platform on March 26. These developments highlight the expanding market presence of the VENOM token.
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