The stock market debut of AltLayer (ALT), powered by Binance Launchpool, was successful. AltLayer could even establish itself among the 50 most important cryptocurrencies in the medium term.
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Just over a week ago, Binance Launchpool began introducing AltLayer (ALT)
This also gave rise to the opportunity to receive free ALT by staking at Binance Launchpool before AltLayer’s stock market debut. Due to the huge reach of the world’s largest crypto exchange alone, such actions by Binance Launchpool attract a lot of attention to new cryptocurrencies and accordingly many people were looking forward to the first day of trading with AltLayer yesterday, Thursday. Time for an initial analysis:
CoinGecko data shows that AltLayer settled around $0.32 in the first 24 hours of trading. ALT was valued between $0.008 and $0.018 in private financing rounds of the project. AltLayer is now making a giant leap forward on the free markets. With a trading volume of around $700 million, ALT was even number ten among the most traded cryptocurrencies on its first day of trading.
With a current market capitalization of around $350 million, AltLayer is still around 30 places away from the TOP 100 of the most important cryptocurrencies. However, only 11 percent of all ALT are activated for trading. If you do the math game to determine the theoretical market capitalization of AltLayer with 100 percent unlocked ALT, at current price levels you would get more than $3 billion and thus a place among the 50 most important global cryptocurrencies.
AltLayer is a project that connects to other ecosystems for Web3, including Arbitrum (ARB) and Polygon (MATIC). AltLayer wants to score points in blockchain gaming as well as in the decentralized finance (DeFi) sector, where profitable re-staking is to be made possible. This not only sounds technologically complicated, but it is.
Conclusion: AltLayer a new star in the crypto sky?
AltLayer is not yet fully developed, many functions are only expected to go live this year. Anyone who missed the Binance Launchpool for ALT can probably be annoyed. An airdrop for AltLayer is still running for 30 days, the conditions of which can be viewed here. We have chosen ALT’s stock market debut as an example to show you what opportunities usually arise at Binance Launchpool. For AltLayer it will now be a matter of taking the tailwind from the successful start and making a name for itself in practice.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in BLOCK-BUILDERS.DE. A third-party contributor translated and adapted the articles from the originals. In case of discrepancy, the originals will prevail.
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