- The price of Saga’s token seems to have increased dramatically since the protocol’s mainnet went online, based on Binance’s listing page.
- As of early Tuesday, the mainnet became live and the coin began trading on Binance.
Protocol Layer 1 According to Binance, the platform where Saga’s token initially began trading on Tuesday, the mainnet went live and the token looks to be creating a significant amount of trading activity.
The SAGA coin is listed on Binance, and as of 2:03 p.m. ET, trade data indicates that it has increased by over 150% since early Tuesday and is currently trading at over $6.
The data from the exchange also revealed that SAGA had opened at a low of $0.40 and had once reached a high of $7.89. The exchange issued a notice on the listing page that the SAGA cryptocurrency is now experiencing “high volatility.”
As per a research article published on Binance, Saga’s protocol “enables developers to automatically spin up VM-agnostic, parallelized and interoperable dedicated chains, or ‘chainlets,’ that provide applications with infinite horizontal scalability.”
According to the paper, the protocol is “a fully decentralized proof-of-stake chain,” with a focus on gaming and entertainment.
Saga declared its mainnet launch early on Tuesday in a post on X. “Utilizing an innovative blend of shared security, precise validator orchestration tools, and a seamless automated deployment pipeline, Saga ensures that each application operates on its own dedicated block space with built-in interoperability,” the business stated.
Saga co-founder and CEO Rebecca Liao said in a statement, “With the launch of the Saga mainnet, we deliver on our promise to redefine web3 development by enabling creators to deploy their blockchains with zero cost to end users.”
In the study, Binance added, “Saga grew from 0 to 350 projects building on its protocol, 80% of which are gaming.” “Saga has also inked partnerships with Polygon, Avalanche, MarbleX, Com2uS, and Celestia to automatically scale their infrastructure using chainlets.”
Saga established a branch devoted to game publishing last month.
In a release, the business also revealed that Saga has secured $15 million in total from a large number of investors, including Samsung and Polygon.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
