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Advanced Blockchain AG
Capital/Financing Update • Dec 5, 2023
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Capital/Financing Update
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Corporate | 5 December 2023 15:02
Value of the Krest tokens held by Advanced Blockchain well over $1 million – Ecosystem Update November 23
EQS-News: Advanced Blockchain AG / Key word(s): Cryptocurrency / Blockchain/Miscellaneous
Value of the Krest tokens held by Advanced Blockchain well over $1 million – Ecosystem Update November 23
05.12.2023 / 15:02 CET/CEST
The issuer is solely responsible for the content of this announcement.
Value of the Krest tokens held by Advanced Blockchain well over $1 million – Ecosystem Update November 23
- Panoptic successfully raised $7 million
- Peaq launched initial Wicrypt hotspots
December 5, 2023 – Advanced Blockchain AG (Scale Frankfurt, primary market Düsseldorf, XETRA: ISIN DE000A0M93V6), has published its November 2023 Ecosystem Update: The Bitcoin price has surpassed the $42,000 mark for the first time since April 2022, a milestone not achieved since the Terra crash, while Ethereum exceeded $2,200. This surge propelled Bitcoin’s market cap to over $812 billion. Hence, Bitcoin has ascended to the 10th position among the largest assets by market capitalization, trailing behind Meta Platforms (previously known as Facebook) and Nvidia, which have market values of $834 billion and $1.2 trillion, respectively. This rally is largely attributed to perceived dovish remarks from U.S. central bankers and the anticipation of a potential approval for a spot bitcoin exchange-traded fund (ETF) in the U.S.
Update on the Advanced Blockchain Portfolio
Panoptic
Panoptic has successfully raised $7 million in a seed funding round led by Greenfield Capital. This round also saw significant contributions from gumi Cryptos Capital (gCC), L1D as well as other influential pioneers in the blockchain industry.
The recent funding will be instrumental in further developing its perpetual options platform during this beta testing phase, ahead of an Ethereum mainnet launch and the introduction of a V2 product. With the recent infusion of new capital, the company significantly increased its valuation, raising a total of $11.5 million to date.
peaq
peaq team has reached a remarkable achievement with the launch of the initial Wicrypt hotspots , each bearing distinct peaq IDs, on the Krest network. These hotspots are now equipped to engage with the network and record transactions on peaq’s chain.
Moreover, Krest token price has been steadily rising since its launch in August this year, underscoring the project’s traction. This increase in price to currently over 0.30 USD per token has boosted the value of the Krest tokens held by Advanced Blockchain to well over $1 million.
Composable
Composable team announced the imminent launch of connecting the Solana network to the Inter-Blockchain Communication (IBC) Protocol. Solana IBC will be powered by Picasso and will join Polkadot, Kusama, Cosmos, and soon Ethereum in the cross-ecosystem IBC hub.
A more detailed update on Advanced Blockchain and its portfolio is available at https://www.advancedblockchain.com/blogs/ecosystem-update-november-23 .
Contact:
About Advanced Blockchain AG:
Advanced Blockchain AG (Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) is a venture builder and investor in the blockchain industry with an extensive network of analysts, developers, programmers, economists, and mathematicians. Advanced Blockchain AG is dedicated to developing the future of Web 3.0 and innovating in different ecosystems and markets of the industry.
For more information about Advanced Blockchain AG, its various projects, and investments, please visit https://www.advancedblockchain.com/ .
05.12.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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| Language: | English |
| Company: | Advanced Blockchain AG |
| Scharnhorststraße 24 | |
| 10115 Berlin | |
| Germany | |
| Phone: | +4930403669510 |
| Fax: | 030403669511 |
| E-mail: | [email protected] |
| Internet: | www.advancedblockchain.com |
| ISIN: | DE000A0M93V6 |
| WKN: | A0M93V |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf (Primärmarkt), Frankfurt (Scale), Munich, Stuttgart, Tradegate Exchange |
| EQS News ID: | 1789783 |
| End of News | EQS News Service |