Cryptocurrency experts name the digital asset whose capitalization grew by $ 1 billion per day

on February 6, the Dymension (DYM) modular blockchain team launched the main network and distributed tokens to early users. Just a day after the launch, DYM’s capitalization reached $ 829 million. At that moment, the price of the asset exceeded $ 6. As of February 8, the crypto asset was trading at $ 6.59.

According to CoinGecko, DYM debuted at $ 3.54. The maximum value over the past 24 hours was recorded at $ 6.08. The coin is currently up 31.5%.

DYM is now listed on Binance, Bybit, KuCoin, MEXC, Kraken, and Bitget. The total trading volume is now over $ 506 million, and the capitalization has exceeded $ 820 million.

It should be added that the Dymension team launched the main network and native token on February 6. All this was accompanied by a large-scale airdrop. Early users received 700 million DYM worth $ 390 million, which is 7% of the DYM issue.

The Dymension token distribution is currently the second largest airdrop in 2024. The first place is taken by the Solana-based Jupiter (JUP) aggregator SOL $181.35 Solana 0.17% Market capitalization $86.95 billion VOL. 24 hours $0.72 billion , which last week distributed 1 billion JUP for $ 527 million. The distribution of tokens allowed the platform to become one of the largest decentralized exchanges (DEX).

Dymension is a modular blockchain designed to quickly launch second-tier solutions (L2) or rollups. The project is based on the Cosmos network and the Inter-Blockchain Communication (IBC) protocol, which provides communication between different networks.

DYM is a native network token used for security, gas payments, and pools. In addition, the asset is also needed to make decisions on Dymension updates. The project cooperates with Near Protocol, Avail, and Celestia, which act as data availability (DA) providers. Dymension has entered into a partnership with Wormhole Protocol to transfer assets.