Tech

U2U Network will be launched on Kraken

2 hours ago
Bitcoin Ethereum News

The news is official: on Friday, October 17, Kraken will launch trading for U2U Network.

The announcement doesn’t say anything more, but to provide some additional information, the co-founder and CEO of U2U, Chloe Phung.

U2U is a blockchain project born in Vietnam. 

U2U: the listing on Kraken

Phung says she is very pleased that a high-level crypto exchange, like Kraken, has decided to list U2U.

It indeed claims that this would be proof that a blockchain project born in Vietnam can also rise to the most important stages, meet the strictest standards, and surpass them.

It reports that U2U has provided proof of deserving this listing, ranking among the top 3 DePIN level 1 globally on Messari, forming strategic partnerships with SSID and AWS, recording 2.7 million total transactions, with 1 million new transactions in the second quarter alone (+113% compared to the previous quarter), moreover with a 99% success rate and a 55% reduction in gas fees. 

In other words, it would have achieved lower costs but with greater usage, thanks to its proven real-world efficiency. 

It has implemented 429 smart contracts (+83%), with a 214% growth in verified contracts, and has already gathered more than 1.4 million users, with 900,000 MAU, active in Japan, Germany, the United States, Turkey, Korea, and more. 

Thanks to all this, the project has passed Kraken’s extremely rigorous due diligence process, which evaluates technology, security, scalability, tokenomics, ecosystem sustainability, the team, legal compliance, and even the maturity of the community.

And so the presence of U2U on Kraken opens the doors to institutional capital from the USA and EU, positioning Vietnam on the global map of Layer-1 with credibility. 

Additionally, it increases the token’s liquidity and paves the way for future listings of other Layer-1s. 

U2U Network

U2U Network is a Layer-1 blockchain platform designed to support decentralized Web3 applications (dApp), with a focus on scalability, interoperability, and high-speed transactions.

It uses a hybrid technology based on Directed Acyclic Graph (DAG) combined with SubX Chain, which allows up to 10,000 TPS (transactions per second) with confirmation times of less than 1 second and extremely low costs.

Additionally, each dApp can have its own dedicated subnet, isolated for privacy and security, similar to the Avalanche model, and is equipped with native modular artificial intelligence integration for AI-driven applications.

It supports cross-chain bridge with Ethereum, BNB Chain, Solana and other blockchains and has its own native crypto, U2U, used for gas fees, staking, and governance.

The project was founded in 2022 by Chloe Phung and her team, coming from Huawei and Alibaba, and aims to make Web3 accessible to the masses, with an emphasis on gaming, DeFi, and SocialFi. 

The mainnet has been live since Q1 2024, with over 300 partner projects and an expanding ecosystem. It has raised funds from investors such as Binance Labs and OKX Ventures.

The U2U Crypto

U2U landed on the crypto markets less than a year ago, in December 2024.

The initial launch price was likely excessive, as it debuted in the midst of a mini-bubble due to the Trump-trade, in fact, it immediately dropped from 18 to less than 8 thousandths of a dollar. 

During 2025, it then fell below 4 thousandths, but starting from May, it marked an interesting rebound. 

In June, it had already risen above 5 thousandths, and by the end of the month, it managed to climb above 9 as well. 

Since then, however, a slightly downward trend began, which might have ended today with the release of this news. In fact, it suddenly jumped from less than 6 to almost 7 thousandths of a dollar. 

In the ever-evolving world of cryptocurrencies, the market sentiment often swings between bull and bear phases. Investors and traders closely monitor these trends to make informed decisions. The U2UUSDT pair on the BITGET exchange is one such asset that attracts attention due to its volatility and potential for profit. Understanding the technical indicators and market conditions is crucial for navigating this dynamic environment. As the market continues to mature, tools like TradingView provide valuable insights and data to help market participants stay ahead of the curve.

The crypto exchange Kraken

Phung has defined Kraken as the number one crypto exchange for Forbes, for security and user experience.

The exchange, founded back in 2011 by Jesse Powell in the USA, operates in 190 countries, supports more than 200 cryptocurrencies, with approximately 1.4 billion dollars in daily liquidity and over 10 million users worldwide.

Additionally, it has raised 500 million dollars and is preparing for an IPO on the stock exchange with a valuation of 15 billion dollars.

It is indeed one of the most established and secure crypto platforms in the world for trading digital assets, and it is absolutely one of the first to have operated with regulated and high security standards. 

It is particularly appreciated by intermediate or advanced users, thanks to its high liquidity and focus on privacy and compliance.

The name “Kraken” comes from that of a well-known giant sea monster from Norwegian legends (a huge cephalopod that sinks ships) which became popular mainly thanks to films like Pirates of the Caribbean.

Source: https://en.cryptonomist.ch/2025/10/13/u2u-network-will-be-launched-on-kraken/