Rollup is a layer 2 solution for aggregating transaction data and migrating it off the main chain.
Yesterday at 18:00, Altlayer was launched on Binance. Its goal is to provide a simple Rollup solution without having to delve into the code. Overall, our goal is to simplify the creation process of Layer2.
The most striking thing is that it has attracted much attention. First of all, in terms of backers, it is worth noting that Polychain Capital led the investment.
Polychain Capital is a powerful fund and is a major investor in high-profile projects such as Solana, Avax, Mina, ICP, Celo, and most recently Tia and Manta. These projects have all been remarkably successful, so Altlayer's next bet may be successful as well. The question is, the success of this bet will double the price of the token, but at what price?
I took a closer look and found that although Altlayer is different from other projects, its listing status seems to be similar to Manta. When Manta was listed, about 25% of the tokens, the market value remained around $500 million for a few days, and then rose rapidly. The current market value has reached $820 million, an increase of more than 50%.
Altlayer is listed with 11% of the token supply. So, considering the price range between $0.2 and $0.3, the market cap is between $220 million and $330 million, which is quite reasonable for a project with a good L2 infrastructure.
With this market cap, it is easy to push it up by double, especially for funds like Polychain and Jump. Recently, tokens led by Polychain, such as Tia and Manta, have almost no sideways movement after listing on Binance, but directly took off.
Therefore, it is very likely that the Altlayer will do the same.