The investment arm of the giant cryptocurrency exchange OKX, OKX Ventures, announced an investment in Zeus Network (ZEUS), a platform touted as the first and only unsupervised communication layer on both the Solana (SOL) and Bitcoin (BTC) Blockchains. While the amount of the investment was not disclosed, the altcoin’s price rose following the announcement.
Praise from OKX Ventures’ Founder for Zeus Network’s Groundbreaking Technology
The altcoin project Zeus Network, in which OKX Ventures invested, offers a decentralized ecosystem that facilitates dynamic and secure interoperability, ensuring smooth user participation and liquidity interaction. The Fully Diluted Valuation (FDV) of Zeus Network is currently over 1 billion US dollars, reflecting its significant impact and potential in the Blockchain space.
OKX Ventures’ founder Dora Yue expressed her excitement about investing in the altcoin project and highlighted Zeus Network’s pioneering role in integrating smart contracts and consensus mechanisms. She emphasized that Zeus Network not only steers the advancement of inter-Blockchain communication but also sheds light on the future of Blockchain technology.
The mainnet launch of Zeus Network is expected in the coming months, marking a significant milestone in reshaping the world of decentralized communication and cryptocurrency interactions.
Yue also claimed that the investment presents unique opportunities, especially with the introduction of Apollo, a Native Bitcoin Collateralized Stablecoin on Solana, through Zeus Network. This development will enable seamless interaction between the Bitcoin and Solana communities, allowing users to engage with various assets including NFTs and BRC-20 tokens through the innovative zBTC protocol. Such interoperability builds bridges between previously isolated ecosystems, promoting greater accessibility and liquidity across Blockchain networks.
Investment Announcement Boosts Altcoin’s Price
It is important to note that the investment announcement by OKX Ventures came right after the mainnet asset of Zeus Network, ZEUS, was listed on OKX on April 4, 2024.
Following the investment announcement, the price of ZEUS experienced a rise, and according to CoinMarketCap’s data, the altcoin’s price surged over 5% to $1.0864. Along with the price increase, the trading volume also saw a double-digit increase of 44%, reaching close to 95 million dollars.
