Layer3 (L3) Soars 26% Following Wallet Launch

The Layer3 ecosystem is experiencing a significant upswing. The native token, L3, soared by 26% after the highly anticipated launch of the Layer3 Wallet.

This wallet redefines how users interact with decentralized finance (DeFi) in open beta. It promises to simplify the often complex world of cryptocurrency and enhance earning potential.

Furthermore, as a precursor to the forthcoming Layer3 v3, the wallet will redefine on-chain spending, saving, and swapping through its chain-agnostic and gas-efficient design powered by the L3 token.

What is Layer 3 (L3)?

Layer 3 is a new platform that helps people learn about cryptocurrency through fun, hands-on activities. It uses a game-like system where users do tasks called “Quests” to learn about crypto. When they finish a “Quest,” they get a “CUBE,” like a digital badge, showing they have learned something.

Interestingly, they want users to help decide how the platform grows. This teamwork shows Layer 3’s dedication to improving blockchain technology and attracting more users worldwide.

Layer 3 tackles some big problems in the blockchain world. It helps projects find more users, involve their community, and attract new people. It also has tools to help projects easily give away tokens, offer rewards, and run special promotions in the Web3 space.

Brandon Kumar and Dariya Khojasteh started the platform together. Mr. Kumar knows much about blockchain and crypto, while Ms. Khojasteh is an expert in user experience and marketing. Their combined skills have made Layer 3 a lively and easy-to-use platform for learning about and engaging with cryptocurrency.

Why is Layer 3 Surging Today?

The newly launched Layer3 Wallet is triggering a price surge in its native token, L3. Its simple way of managing many chains makes using different blockchains easy. The firm noted that the launch will enable users to easily trade tokens and create NFTs on different networks without switching chains or using many wallets.

Notably, the Layer3 Wallet smartly deals with gas fees, a common problem in crypto. Users don’t need to keep native tokens on different networks just for transaction fees.

Moreover, the platform noted that users can use L3 tokens or other tokens for which they already have to pay for gas. The platform also rewards users for using the ecosystem by giving them free gas, which lowers transaction fees over time.

The L3 Smart Balance is a new idea that lets L3 tokens be used on any chain in the Layer3 system. This means users don’t have to bridge or switch networks manually. They have one balance that can be used on different blockchains, making using cross-chain features easier and more efficient.

Layer3 (L3) Price Action Today

Layer3 (L3) has had big price swings today, surging 26%, reaching a high of $0.154 and a low of $0.03563 recently. Right now, the price is about 13% lower than its highest price but still about 277% higher than its lowest price.

In the 24 hours, trading increased significantly, with $35.1 million worth of L3 traded. According to CoinGecko data, this is a 153% increase from the previous day, showing that people are interested in L3 again.

Notably, L3’s market capitalization is $76.2 million, and its total value of the fully diluted valuation (FDV) is estimated at $442.6 million. Layer3 has improved in the last week, increasing its price by 55%. This is better than the overall crypto market, which dropped slightly. Also, Layer 3 has done better than other coins in the Polygon group, which hasn’t changed much.