Popular Altcoin Listed on Binance Announced the Launch of Staking Service! There was a sudden increase in price!

According to The Block, AltLayer is launching its token staking service.

Accordingly, AltLayer enables staking of its native token ALT, allowing its owners to contribute to the economic security of its ecosystem.

Sharing from the X account, the AltLayer team wrote:

“ALT staking is now live. We are starting the phased launch of MACH Alpha.

With staking, ALT holders can participate in the ecosystem and contribute to providing economic security.

ALT staking kicks off phased launch of MACH Alpha. MACH Alpha was developed as an actively verified service on EigenLayer and to prioritize economic security.

This service will support Optimism mainnet and Arbitrum One. Additionally, this service will be used to secure and help scale Layer 2 solutions. “

After the news, the ALT price started to rise.

💥 ALT staking is now LIVE, kicking off a phased launch of MACH Alpha: our fast-finality layer 💥

With staking, ALT holders can participate & provide economic security 👉 https://t.co/EKc1YpZlSIhttps://t.co/oy5acht8OW

Our vision for MACH Alpha 🧵👇https://t.co/eA5HQNRK9m pic.twitter.com/Hn0CgDczy1

— AltLayer (@alt_layer) March 27, 2024

*This is not investment advice.