On various prominent centralized platforms like ByBit, KuCoin, MEXC, and Gate.io, the native token of Lava Network has been successfully listed. This move is expected to enhance its accessibility and draw in a wider pool of potential investors.
Furthermore, representatives from the company have announced that additional LAVA listings on various exchanges may be forthcoming soon. Simultaneously, Lava Network has unveiled a clear “token burn” dashboard. This useful tool helps maintain transparency in managing the fixed supply of LAVA tokens, thereby fostering the long-term stability of the token market.
About Lava Network
Lava Network focuses on improving the way blockchains manage Remote Procedure Calls (RPC), an essential feature for blockchain transactions. Unlike traditional methods where each entity handles RPC individually, Lava Network uses a decentralized, user-controlled network to coordinate these calls.
The goal of this protocol is to make it effortless for both AI entities and people to utilize blockchain applications around the clock, thereby improving their availability and versatility across various blockchain networks.
According to the recent announcement, Lava has successfully handled over 100 billion transactions so far. On a daily basis, it caters to more than one million users across multiple platforms, which exceed 40 in number. Additionally, this network is compatible with well-known frameworks such as web3.js, ethers.js, and cosm.js. This integration allows AI agents to interact seamlessly and efficiently with various blockchain applications.
In 2024, the network managed to secure a total of $26 million in funding. This was broken down into two parts; firstly, it raised $15 million through an initial round, and later on, it secured an additional $11 million. Additionally, this network has already launched its mainnet and devised a system that encourages participants by providing them native tokens from the networks they assist.
In the Arbitrum network, LAVA functions as a platform for connecting contributors within the Lava Network, based on the ERC-20 standard. As per LAVA’s token distribution model, approximately 70.4% of its total token supply of 985,080,000 units is currently locked. This leaves a circulating supply of 277,080,000 tokens, with an additional 14,680,000 LAVA tokens having been irreversibly destroyed.
LAVA Token Surges
Following the release of their listing announcements, LAVA has experienced a significant surge in value, even amidst the current decline in the broader cryptocurrency market. At the moment, the token is being traded at $0.1688, marking a 7% increase over the past day. Earlier today, it peaked at $0.2046 before leveling off.
According to CoinMarketCap, the token issued by Lava Network currently holds a market value of approximately $39.88 million and has seen a significant increase in its daily trading volume, reaching $8.02 million – an impressive 490% spike compared to the previous day’s figures.
Notably, LAVA has seen an impressive 121% growth since its launch in late August.
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2025-01-09 21:12