New Native Token for Web3 Infrastructure Project Soars by 38% Amidst Crypto Market Slump
The native token for a recently launched Web3 infrastructure project has experienced a remarkable surge of 38% this week, defying the overall downtrend in the cryptocurrency market.
AVAIL, the utility token for the Avail ecosystem, is currently trading at $0.151, marking a significant increase from its value of $0.109 just seven days ago. Impressively, it has also recorded a growth of over 3% in the past 24 hours.
Avail is a modular blockchain that positions itself as the “unification layer” for Web3. Initially developed as part of the scaling solution Polygon (MATIC), the project eventually became an independent entity in the previous year.
The co-founders of Polygon, Anurag Arjun and Prabal Banerjee, established Avail. Arjun played a key role in the inception of Avail, while Banerjee served as the former research lead for the scaling solution.
The AVAIL token was officially launched in late July and has been steadily gaining traction ever since. This week, the Avail ecosystem announced an exciting partnership with Ola, an open-source hybrid zk-rollup.
Ola elaborates on the partnership, stating that they will be collaborating with Avail to explore proof verification on DA clients and further enhance their zkVM technology within Avail’s ecosystem.
Despite the general decline in the crypto market, AVAIL’s remarkable surge highlights the potential and value of the Avail ecosystem and its native token, establishing its prominence in the Web3 infrastructure space.
Image: Midjourney