Frax, IoTeX (IOTX), Wormhole (W), and These 5 Cryptos Have Made Headlines in the Last 12 Hours – Here’s Why

April 3, 2024

IoTeX Surges by 50% Out of Nowhere; Analyst Suggests a Breakout Could Push IOTX to This Level

There have been many development in the crypto industry in the last 12 hours, with several major projects announcing significant updates and milestones. From funding rounds to new products and token migrations, here’s a recap of the biggest headlines based on a post by @layerggofficial:

IoTeX Secures $50M in Funding
IoTeX (IOTX), a decentralized network for the Internet of Things, has raised a whopping $50 million in a new funding round. The investment was led by Amber Group, Foresight Ventures, and Borderless Capital, among others. This capital injection will likely fuel IoTeX’s further expansion and development of its blockchain ecosystem.

Frax Finance Shares Revenue
Airdrops Incoming Frax Finance, the protocol behind the partially algorithmic stablecoin Frax Share (FXS), has announced that revenue sharing for veFXS token holders will commence as early as this Wednesday. Additionally, a snapshot for the FXS airdrop FXTL points distribution is scheduled for April 17th. This move aims to incentivize long-term participation and decentralization within the Frax ecosystem.

Wormhole Listed on Binance
Unveils Roadmap Wormhole (W), a cross-chain bridge protocol, will be listed on leading crypto exchange Binance on April 3rd at 12:00 UTC. Coinciding with this listing, Wormhole has released its roadmap, outlining the project’s future development plans. Cross-chain interoperability solutions like Wormhole are becoming increasingly important as the blockchain ecosystem grows more interconnected.

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Origin Protocol Proposes OGN-OGV Merge
Origin Protocol, a platform for peer-to-peer transactions, has proposed a governance initiative to merge its two tokens, OGN and OGV. If approved, this move could streamline the protocol’s tokenomics and improve efficiency. The voting deadline for this proposal is April 10th.

Adventure Gold Launches “Adventure Forge”
Adventure Gold (AGLD) has announced the launch of “The Adventure Forge,” an initiative powered by the AFG token. While details are scarce, this development suggests exciting new gaming or metaverse experiences on the horizon for the Adventure Gold ecosystem.

Clearpool Expands to Avalanche with Credit Vaults
Clearpool (CPOOL), a decentralized marketplace for lending pools, is expanding to the Avalanche blockchain with the launch of its new Credit Vaults product. These vaults will enable real-world asset-backed lending and borrowing, further bridging the worlds of traditional and decentralized finance.

Ethernity Teases Rebrand
Ethernity (ERN), a platform for creating and trading non-fungible tokens (NFTs), has hinted at an upcoming rebrand. While specifics are unknown, refreshed branding could signal a strategic shift or new product offerings in the NFT space.

OKX Supports Zebec Migration and Token Split
Crypto exchange OKX has announced support for the migration and token split of Zebec (ZBC). This will likely enable a smoother transition process as the Zebec protocol implements these tokenomic changes.

With innovation and growth occurring rapidly across the crypto landscape, it’s an exciting time for the industry and its participants. Stay tuned for further updates on these developing stories and emerging trends.

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