ZIGChain price jumps 22% as BTCS allocates $30m to ZIG treasury strategy
ZIGChain price jumped double digits to hit highs of $0.11 amid a major digital asset treasury announcement by Europe-based firm BTCS.
- ZIGChain price rose by more than 22% as price broke to highs of $0.11.
- The token’s value jumped as BTCS announced a $100 million raise and $30 million allocation to its ZIG digital asset treasury strategy.
ZIGChain, the layer 1 blockchain aimed at the democratization of wealth generation through real-world asset tokenization, saw its native token’s price soar by more than 22% to hit highs near $0.11.
The surge to the intraday high, the highest price level for the altcoin in over a month, came amid an announcement by publicly-traded firm BTCS. In an update, BTCS, the largest European digital asset treasury company, said it had raised $100 million in a new funding round.
BTCS plans to use proceeds of this Series G raise for its crypto treasury strategy, with $30 million going into a ZIGChain (ZIG) treasury strategy.
BTCS eyes ZIG yield
An expansion to the company’s diversified treasury strategy will also see 60% of the funds deployed towards exposure to Bitcoin (BTC) and 10% to Core (CORE). Deployment into BTCS’s active treasury strategy, unlike the passive “buy and hold” playbook popularized by Strategy.
BTCS’ approach aims to deliver operational revenue and yield – even during episodes of flat markets.
He added:
ZIGChain price last traded above current levels in late August, while its year-to-date highs of $0.13 came on January 18. The ZIG token traded at the all-time peak of $0.22 in April 2021. Notable ecosystem platforms for the layer 1 chain includes Zignaly, a regulated social investment platform and Zamanat, a Shariah-compliant RWA tokenization platform.
You May Also Like
The Channel Factories We’ve Been Waiting For
Stephen Gregory named binance us ceo as exchange targets expansion in US crypto market
