Dymension (DYM), a newly launched altcoin, has seen a remarkable surge in value, rising by more than 96% in just three days since its mainnet went live.
What is Dymension?
Dymension is a layer-1 blockchain designed to serve as a network for “RollApps.” These are fast modular chains that can be used for games, decentralized finance (DeFi) protocols, and non-fungible tokens (NFTs).
The project’s goal is to create a modular Internet of rollups, allowing developers to build and connect their own chains to the crypto economy.
DYM Token Performance
The DYM token has experienced a meteoric rise, becoming the 65th-ranked crypto asset by market cap in a short period. At the time of writing, it is trading at $7.75, up from its launch price of $3.95.
Binance, the world’s largest cryptocurrency exchange, quickly listed DYM for trading and labeled it with a seed tag, indicating its lower liquidity and potential for higher volatility. Users who hold DYM on Binance must pass quizzes every 90 days to demonstrate their understanding of the risks involved in trading the token.
Dymension’s impressive launch and the rapid appreciation of its native token have generated excitement in the cryptocurrency community. The project’s vision of a modular Internet of RollApps and its potential to empower developers to build their own chains has captured the attention of investors and enthusiasts alike.