An Altcoin under the radar experienced a slight increase in price Thursday after the venture capital giant Andreessen Horowitz (A16Z) announced that it was investing $ 55 million in the token.
Ali Yahya, a general partner of A16Z Crypto, announced the investment in Zro, the native token of the Omnichain Layerzero interoperability protocol.
LowerZero aims to move data through blockchains and support “messages resistant to censorship and development without authorization thanks to immutable intelligent contracts”. Yahya notes that the A16z investment has a three -year lock.
ZRO was negotiating about $ 2.33 before the announcement and reached a summit of $ 2.54 approximately 90 minutes later. The classified cryptographic asset of the 208th by market capitalization has since partially traced at $ 2.46 at the time of the editorial staff, although more than 2.5% remains in the last 24 hours.
The overall market capitalization of cryptography, compared, is down more than 1% during the last day.
Earlier this week, the GMX of perpetual chain exchange announced that Layerzero would serve as a “favorite messaging infrastructure supplier” for its multi -hole expansion. The XDC network, a layer-1 blockchain, also recently announced an Omnichain Layerzero integration.
Explain XDC,
“This integration connects the XDC network to more than 125 blockchains supported by Layerzero, allowing developers and companies to create Omnichaine applications interacting between networks with improved confidence, speed and efficiency.”
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