Cryptocurrency Market Roundup: Mergers, Listings, Upgrades, and Funding Rounds – (FET), Render (RNDR) and Other Tokens in Focus

Layergg, a top crypto enthusiast and influencer with over 80,000 followers on X, shared a snapshot of the latest happenings in the cryptocurrency space over the past 12 hours. The updates significantly cover token listings, mergers, platform upgrades, and funding rounds, offering a comprehensive view of the dynamic crypto ecosystem’s developments.

Token Merger Proposal

Three well-known projects, ($FET), SingularityNET ($AGIX), and Ocean Protocol ($OCEAN), have proposed a merger of their tokens to form the Artificial Superintelligence Alliance (ASI). This move could significantly impact the crypto-AI landscape.

Moreover, if approved, the merger will combine the projects’ respective tokens into ASI, a new token set to launch with a fully diluted market cap of $7.5 billion. The proposed merger aims to create an open, decentralized AI infrastructure, and governance voting is scheduled to commence on April 2.

New Token Listings Fuel Price Surges

Besides, Upbit, a leading South Korean cryptocurrency exchange, has listed two new tokens, $MNT and $POKT. This caused their prices to surge in the aftermath of the listing announcement. This development highlights the significant impact that new listings can have on token valuations and market dynamics.

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Platform Upgrades and Enhancements

Furthermore, Polymesh, a blockchain platform, has announced a mainnet upgrade scheduled for April 3. This upgrade will introduce several new features and events that extend the existing chain API, offering enhanced functionality and capabilities. 

Notably, the upgrade will enable asset issuers and settlement instruction legs to add required mediators, boosting compliance and automation efforts.

Funding Rounds and Tokenization Initiatives

Parallel ($PRIME), a crypto project, has successfully raised $35 million in a funding round lately, with VanEck among the list of investors. Meanwhile, Ondo Finance has unveiled plans to move $95 million worth of assets to BlackRock’s tokenized fund, backing its $OUSG token. These developments underscore the growing interest and investment in the tokenization and decentralized finance sectors.

Render Network’s Governance Proposal

The Render Network has announced its governance proposal RNP-011, titled “Creating Millions of 3D Training Assets.” The proposal outlines plans to leverage the network’s multi-actor composition, allowing nodes, users, and community members to participate in the creation and benefits of a dataset for 3D asset training. Additionally, the proposal includes provisions for staking $RENDER tokens, further incentivizing participation and engagement.

VeChain’s Tokenization Platform and Token Migrations

VeChain has unveiled plans to launch a no-code digital asset tokenization platform called Marketplace-as-a-Service (MaaS), slated for a full launch in Q2 2024. Furthermore, Crypto Unicorns has announced a token migration to XAI chains, with $RBW being converted to $CU at a 10:1 ratio, underscoring the nature of the crypto ecosystem.

Cosmos Celebrates IBC Protocol Anniversary

Cosmos, a blockchain network, is gearing up to mark the third anniversary of its Inter-Blockchain Communication (IBC) protocol and the expansion of its Interchain on April 2. This milestone highlights the growing adoption and significance of interoperability solutions within the blockchain ecosystem.

Hence, the crypto sector is rapidly changing, with ongoing developments, partnerships, and technological progress influencing the future of decentralized finance and blockchain. These advancements will be pivotal in driving innovation, adoption, and broader acceptance of crypto and their associated technologies.

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Samuel Munene
Samuel Munene

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