Ternoa Inks Strategic Partnership Deal With Avail- Report

Ethereum, the second most traded token, is surging fast and was trading at $2,754 as of writing.

Not only in terms of price, the Ethereum ecosystem is also evolving at an impressive pace. Ternoa, a firm with expertise in developing infrastructure that helps boost Web3 development, announced a strategic partnership with Avail, a modular blockchain at Ethereum Scalability developers Polygon Labs in 2020.

As per the documents, Ternoa is launching its by-product, ‘Ternoa’s zkEVM Layer-2’, and Avail DA will help safeguard the security and reliability of the platform. Avail DA is a data availability solution developed by Avail.

Avail DA utilizes advanced mathematics techniques to assess blockchain data availed by node operators to determine the authenticity of data without relying on all operators to testify the data.

Regarding the number of projects, the Ethereum blockchain is among the biggest and most popular blockchains. A data source states that over 9,000 projects are functioning on the ETH blockchain.

Ethereum is the most popular token after Bitcoin, which dominates 54.01% of the market as of writing. The hype of yet-to-be-approved Ether spot ETF is directing the companies to expand partnerships, which will ultimately help in the broader adoption of ETH. 

Crypto Market Updates 

The question troubling the crypto enthusiasts is, ‘Will the Market Capitalization of the cryptocurrency market be Able to achieve the milestone of $2 Trillion? 

In the past few days, the crypto market cap has reflected significant improvements as it grew more than 5% and was $1.92 Trillion at publication. From the overall market cap of the market, $1.01 Trillion is contributed by Bitcoin alone.  

On the other hand, Bitcoin, the market leader, grew over 20% in the past seven days and was trading at $51,791. The cryptocurrency broke $50k a few days ago, but on February 13, it fell below $49k; at the beginning of February 14, a gear shift was seen, pushing the price above $50k. 

Dozens of market observers claim that Bitcoin will continue its growth and is expected to retest the resistance of $55k in the coming days. However, some other markets have a different opinion over the unprecedented growth and are terming it the surge fueled by the due 4th Bitcoin halving, likely to occur in April 2024. 

Gainers and Loser Update 

The gainers listed are majorly ruled by the tokens/coins having a trading price below $5, Stacks (STX) prices reflected a growth of 15.49% intraday, Sei (SEI) 13.30%, Pyth Network 12.20%, Blur (BLUR) 11.41%, VeChain (VET) 10.56% and Mina (MINA) 8.63% including few others. 

No significant declining movement is observed in the market, but Astar (ASTR) lost 3.18%, followed by Litecoin(LTC), Toncoin(TON), Injective (INJ), Render (RNDR), OKB (OKB) and Maker (MKR) including a few others.   

Disclaimer

The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. 

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.