A new Ethereum-based altcoin, Caldera (ERA), has seen a massive price surge after being listed on major cryptocurrency exchanges Coinbase and Binance.
A Meteoric Rise
Launched on Thursday, the ERA token jumped over 80% within hours, reaching an all-time high of $2. While it has since pulled back slightly, trading around $1.56, the initial gains were impressive. Coinbase listed ERA with an “experimental” label, a designation used for tokens with higher risk due to factors like lower trading volume. Binance, the world’s largest crypto exchange, had already announced support for ERA through its HODLer Airdrops program, rewarding BNB holders with the new token.
What is Caldera?
Caldera describes itself as “the internet of rollups.” It’s a platform that helps developers create interoperable rollups—layer-2 solutions designed to speed up Ethereum transactions by processing them off-chain before confirming them on the main Ethereum blockchain.
Market Cap Soars
Caldera’s market capitalization quickly surpassed $263 million on its first day of trading, highlighting the significant investor interest.
Disclaimer: This information is for general knowledge only and is not financial advice. Investing in cryptocurrencies is risky, and you could lose money. Always do your own research before investing.
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