The Venom token, the native cryptocurrency of the Venom Foundation‘s decentralized network, has experienced a 30% surge in its price over the past 24 hours.
As of the latest reports, the token is trading at $0.7311, with a trading volume of $60.3 million.
VENOM 24-hour price chart | Source: CoinMarketCap
The recent uplift in VENOM’s market value is linked directly to the launch of its mainnet on March 28, alongside a VENOM token airdrop event.
Venom operates as a Layer-1 blockchain originating from the Abu Dhabi Global Market (ADGM), distinguished by its Layer-0 asynchronous blockchain technology.
This includes a unique mesh network architecture designed for scalability and efficiency, aiming to facilitate blockchain adoption across various sectors. They include government initiatives for stablecoins, Central Bank Digital Currencies (CBDCs), real-world assets (like carbon credits), and applications in payments and trade finance.
The Venom ecosystem is currently bustling with activity, hosting approximately 150 projects under development and 25 decentralized applications (dApps) on its Testnet.
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The blockchain’s adoption is supported by its mesh network technology, which promotes secure interchain communication. It facilitates the seamless integration and deployment of blockchains by sovereign nations and institutions, aiming to achieve mass adoption through secure and decentralized networks.
Additionally, the price surge coincides with the recent listing of the VENOM token on the Seychelles-based KuCoin exchange’s spot trading platform.
To celebrate the listing, the Venom Foundation has announced an airdrop of 800 VENOM tokens to 500 selected addresses from KuCoin wallets.
$VENOM WILL BE LISTED KUCOIN🔔
Venom Blockchain will be available on #KuCoin!
➡️Register & KYC: https://t.co/OpL7uA1JL7…
500 address from #Kucoin Wallet 800 #Venom coin each!
Follow @VenomPress, Like, RT & drop your Venom wallet address👇#VenomAirdrop $VENOM #VenomLaunch pic.twitter.com/2egWvIlV9U— Venom Gems (@Venom_Gems) March 28, 2024
The development follows a previous announcement from the global cryptocurrency exchange OKX, which listed VENOM on its futures trading platform on March 26, emphasizing the expanding market presence of the token.
Read more: OKX’s API experiences technical glitches, display errors
