LayerZero has been making significant strides in the crypto and blockchain space. Ubisoft has partnered with LayerZero to launch a cross-chain gaming network, enabling asset migration between networks. Highly-reputed venture capital firm, Andreessen Horowitz, has shown considerable faith in LayerZero, with a staggering $55 million investment. Ondo Finance has launched an Ethereum-Solana bridge in conjunction with LayerZero.
The cryptocurrency has seen bullish price performance, skyrocketing 75% after breaking from a prolonged downtrend. It also registered another significant increase, rallying more than 100% from its March lows.
LayerZero has kept its momentum by unveiling vApps, or Internet-scale verifiable apps. LayerZero also enabled the transfer of PayPal’s USD stablecoin between Ethereum and Solana networks, marking a new milestone in blockchain interoperability.
In July, Wyoming is planning to launch a state-backed stablecoin, WYST, using LayerZero’s technology.
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