DYM Surges 96% Since Mainnet Launch

Binance quickly listed DYM, indicating potential for increased volatility, and users must pass exams to trade due to associated risks.

Over the past three days, the value of a brand-new altcoin has increased by over 96% since its mainnet went live earlier this week.

Dymension (DYM) is a layer-1 blockchain designed to function as a network for “RollApps,” which are decentralized finance (DeFi) protocols, non-fungible tokens (NFTs), and rapid modular chains that operate for gaming purposes, as defined by the project.

“Dymension was conceived of as a monumental vision to add dimension (Y axis) to the Interchain by constructing a modular Internet of rollups two years ago,” the initiative states. As the first block is created and Dymension is born, a new era in blockchain technology commences… Restoring cryptocurrency to its inception, Dymension’s vision of the Internet of RollApps exponentially accelerates the Interchain for all, from garage-based developers to established teams. “Enabling anyone to construct and link their blockchain to the cryptocurrency economy.”

Tuesday morning marked the launch of the first block and native token for the initiative.

The layer-1 blockchain which debuted at $3.95 and is currently trading at $7.75, has already ascended to the 65th position among cryptocurrencies by market capitalization.

Binance Listing Boosts DYM’s Momentum

On Tuesday, Binance promptly implemented trading support for the layer-1 blockchain. The leading global cryptocurrency exchange assigned the asset a seed tag.

This label is frequently given to projects with reduced liquidity, which may result in greater volatility than other tokens listed on the exchange.

Before trading the tokens, Binance requires users who own assets with seed tags to pass exams every 90 days to ensure they are aware of the associated risks.