Here are the latest updates on Caldera (ERA) — a token of the Rollup-as-a-Service platform known as the 'internet of rollups' — along with a summary of its price and functions:
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📊 Market data
Price: approx. $0.93 per token
24h volume: ≈ $33 million
Market capitalization: ≈ $138 million, with a circulating supply of ~148.5 million out of a maximum of 1 billion
Market ranking: approx. #290–400 (CoinMarketCap/Coingecko)
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🛠 ERA token functions
Gas within the platform – used as a transaction fee in the Caldera ecosystem, the so-called 'Metalayer'
Staking & security – used to secure the rollup networks and validate communication between them
Governance – allows participation in votes on development, fees, and ecosystem allocations
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🚀 Events and development
Listing on Binance
On July 16, announced as the 27th airdrop for HODLers (20 million tokens, or 2% of supply)
Trading starts on July 17 at 15:30 UTC (pairs: USDT, USDC, BNB, FDUSD, TRY)
Status 'Seed Tag' – token recognized as highly risky with limited liquidity
**Listing on Upbit and Bithumb (Korea)**
Launch on July 18 at 00:30 KST, trading available in KRW, BTC, and USDT
Listing on other exchanges
On ONUS – available from 15:30 UTC on July 17
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🏗 Technology and adoption
Rollup ecosystem:
Supports over 60 rollups (e.g., Manta Pacific, Injective inEVM, ApeChain Protocol)
TVL (Total Value Locked): $400–600 million across over 1.8 million wallets and 27 million transactions
Metalayer: enables interoperability (communication & liquidity) between rollups and the Ethereum/BSC network
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🔍 What does this mean for the investor?
Positives:
Broad functionality (gas, staking, governance) in the integration of rollups and high TVL
Strong start due to listings on Binance, Upbit, support from prominent VCs (Sequoia, DragonFly)
Risks:
'Seed Tag' – limited liquidity and higher volatility risk
Large future emissions may exert price pressure (vesting)
Strong competition in the L2 rollup sector (Arbitrum, Optimism, zkSync, etc.)
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🧭 What to watch next?
1. Volume and price in the days after debut – especially with listings on Upbit and Bithumb.
2. Token unlocks (vesting) – the distribution schedule may affect supply and price.
3. Ecosystem development – new rollups, integrations, partnerships.
4. Staking and governance mechanisms – how users will utilize these functions.
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📌 Summary
Caldera (ERA) is an extensive infrastructure project – a token with three main functions, supporting a growing ecosystem of liquid and interoperable rollups. Listings on major exchanges increase its visibility, but the 'Seed Tag' status and emission risk mean that the investment remains highly volatile.
