The newly launched native token for the Web3 infrastructure project has surged 38% this week despite the broader cryptocurrency market downturn.
AVAIL, the utility token of the Avail ecosystem, is trading at $0.151, up from $0.109 7 days ago.
The cryptocurrency, ranked 190th by market cap, also gained more than 3% over the past 24 hours.
Avail is a modular blockchain that bills itself as the “integration layer” of Web3. The project began development under the umbrella of scaling solution Polygon (MATIC), but was spun off as an independent entity last year.
Avail was co-founded by Anurag Arjun, one of Polygon’s co-founders, and Prabal Banerjee, former Head of Research at Scalable Solutions.
The AVAIL token was first launched in late July.
This week, the Avail ecosystem launched a new partnership with Ola, an open source hybrid zk-rollup.
Ola explains:
“Ola and Avail will explore further collaboration on proof validation for DA clients and zkVM. This partnership aims to expand use cases for Ola’s zkVM technology within Avail’s ecosystem.”
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