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BTC $47451.17 (-1.2%)
ETH $3452.74 (-4.8%)
USDT $1.00 (0.00%)
BCH $620.12 (-3.5%)
BSV $160.09 (1.61%)
LTC $181.04 (-5.5%)
BNB $410.24 (-4.6%)
ADA $2.38 (-3.4%)
DOGE $0.24 (-0.8%)

Harmony Announces $300 Million Ecosystem Fund, Rallies by 100%

Harmony Announces $300 Million
  • Harmony recently announced a $300 million fund to expand its ecosystem
  • Upon the announcement, ONE price rallied by more than 100%
  • The fund aims to empower 10,000 crypto founders, builders, and creatives

Ecosystem building seems to be becoming a trend in the market as many projects are launching multi-million funds with the goal of encouraging developers and investors to take their projects into the layer-2 ecosystem.

One of the most recent projects to jump on board the trend is Harmony (ONE). The project is a blockchain protocol with a 2-second finality. Aside from this, the project offers cross-chain bridges to layer 1 protocols like BTC, DOT, and BSC.

The project recently announced a $300 million fund aimed at expanding its ecosystem. Through the fund, the platform aims to enable 10 thousand crypto founders, builders, and creatives. After the announcement, the platform’s native token ONE rallied by more than 100%.

Data from coin information websites like CoinMarketCap and CoinGecko show that since the low price of 0.095 USD back on August 31, 2021, the price of ONE spiked up by 120 percent. It reached a daily high of 0.21 USD on September 9, 2021. Trading volume also went up to more than 700 million USD.

Aside from the fund announcement, Harmony also nabbed strategic partnerships and cross-chain integrations. This all happened in the past few months, the most recent being September 8 when Harmony announced a partnership with Anyswap.

Joseph Joestar is a CoinQuora contributor. He works in various blockchain marketing content projects, specializing in written content such as technical whitepapers, press releases, and articles.