A brand-new Ethereum (ETH) ecosystem altcoin is skyrocketing after immediately securing listings on Binance and Coinbase.

Caldera (ERA) is an application that allows the development of ETH-based layer-2 scaling solutions.

The new ERA token launched on Thursday surged over 80% in just hours before continuing its rally to an all-time high of $2. ERA has given up some of its gains and is trading at $1.56 at time of writing.

Coinbase listed the asset with an experimental label on Thursday. The top US crypto exchange uses the experimental label for tokens that pose certain risks, such as price swings and canceled orders, because of lower trading volume and availability.

Binance, the largest crypto exchange platform in the world, had already announced the day before that it would support the asset via its HODLer Airdrops program.

The HODLer Airdrops program, launched in 2024, rewards investors holding BNB with crypto assets based on previous snapshots of their balances.

Caldera, which refers to itself as “the internet of rollups,” says on its official website that its metalayer enables developers to launch interoperable rollups – layer-2 blockchains designed to scale Ethereum by batching and compressing transactions off-chain before finalizing them on Ethereum.

Caldera’s market cap has already surged past $263 million on its first day of trading.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Binance, the largest crypto exchange by trading volume in the world, has rolled out trading support for a brand-new multichain oracle altcoin.

Traders on the top global crypto exchange can now buy and sell RED, the native asset of the modular blockchain oracle RedStone.

RedStone bills itself as “the fastest-growing blockchain oracle” with users on more than 80 chains.

“In 2024 alone RedStone user base grew by over 500%, and Total Value Secured grew by over 6,000%. Powered by novel, sustainable tokenomics, RED will accrue REAL YIELD from RedStone data users. Staked RED will receive a portion of data consumer fees as RedStone scales to secure thousands of blockchains and trillions of dollars in on-chain finance.”

Binance’s listing was postponed by three hours on Thursday “due to unexpected and last minute changes by RedStone (RED) to the allocation of their community airdrop distribution.”

RED is trading at $0.68 at time of writing. The 278th-ranked crypto asset by market cap is down more than 27% on its first day of trading.

Binance attached a seed tag to RED, a designation the exchange attaches to lower-liquidity projects that could exhibit higher volatility compared to other listed tokens. Binance requires users who want to trade assets with seed tags to pass quizzes every 90 days to ensure they’re aware of the risks.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney