New Ethereum (ETH)-Competitor Leaps Over 40% Following Official Binance Listing
A new competitor to Ethereum has seen a big price jump after getting listed on the world’s largest crypto exchange, Binance.
Binance recently announced that it added Initia (INIT), a new layer-1 blockchain project, to its platform on April 24. Following this news, INIT’s price shot up from $0.605 to a high of $0.921 within a few hours. Even after a small drop, INIT was still trading at around $0.88, showing a gain of nearly 41% in just one day.
According to Initia’s official website, the project aims to make it easier for developers to build appchains by offering ready-made rollup solutions and tools. Normally, developers have to spend a lot of time researching and setting up various parts when building rollups. Rollups are a way of handling lots of transactions off the main blockchain to make things faster and cheaper.
Initia wants to save developers time and effort. Their system allows developers to focus more on improving and launching their apps rather than worrying about technical setups.
Earlier in April, INIT was also added to Binance Launchpool, a program where users
can earn new tokens by staking BNB and other coins.
