Daily Top Performer — AltLayer (ALT)
The SPX index is up 0.53%, buoyed by higher-than-expected U.S. economic growth in Q4, suggesting the economy might avoid a deep recession. The broader cryptocurrency market is up, with Bitcoin and Ether rising by 0.39% and 0.16%, respectively in the past 24 hours.
Today’s outperformer is ALT, which jumped 12.9% after launching ALT token with $2.9 billion valuation.
Altlayer (ALT), founded in 2021, is a platform for application developers to create efficient, extensible layers, supporting multi-threading and multi-VM environments. It is compatible with EVM and WASM across various blockchain networks, offering a flexible scaling solution. AltLayer’s native token ALT launched and began trading on centralized exchanges, reaching a $2.9 billion valuation. The token saw $300 million in trading volume within hours and is involved in an airdrop of 300 million tokens to selected users. AltLayer, a decentralized protocol for rollup creation, allows ALT holders to participate in governance and requires the token for protocol fees. The project previously raised $22.8 million in private token sales.
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