INK decouples with 14% rally as Kraken integrates Ink L2 for on-chain utility
Main Idea
Kraken's integration of the INK token and Ink Layer 2 has led to a 14% price surge for INK, marking a step toward unifying decentralized and centralized finance.
Key Points
1. Kraken announced plans to add INK token and Ink Layer 2 to its product catalog, including an INK airdrop via Kraken Drops.
2. INK price surged over 14% following the announcement, despite a generally bearish market.
3. The integration aims to bridge decentralized finance (DeFi) and centralized finance (CeFi), aligning with Cardano founder's vision.
4. Ink Foundation highlighted that Kraken's move introduces INK and its protocols to millions of users, fostering unified capital markets.
5. Kraken co-CEO emphasized Ink Layer 2's high-throughput, low-finality EVM infrastructure for broader adoption by institutions and DeFi users.
Description
Digital tokens painted the financial landscape red on Friday as Bitcoin plunged to $115,430. Ethereum hovers at $3,580 as XRP threatens the key support zone at $3. While most tokens exhibited substantial bearishness, INK remained elevated with a more than 14% uptick over the past 24 hours. INK saw a sharp uptick from $0.00007265 to $0.00008307 following a crucial announcement from the Kraken exchange. The trading platform unveiled plans to add INK coin and Ink Layer2 to its current product suite...
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