The native token of the interoperability protocol of Layerzero (ZRO) increased on Thursday in the news that the risk capital firm Andreessen Horowitz (A16Z) Crypto Arm increased its investment in the project.
The company acquired additional tokens of $ 55 million committing to a blocking period of 3 years, said General Ali Yahya partner in an X Post. A16Z has been one of the first sponsors of the development firm of the Lapzero Labs protocol, participating in the fundraising round of Funds A of $ 135 million of the team in 2022 and the following round of series B of $ 120 million in 2023.
Zro advanced 10% to $ 2.56 after the ad before throwing some of the profits. The Token recently increased around 5% during the day, exceeding Coindesk 20 and Bitcoin index (BTC).
Layerzero is a key infrastructure piece that allows communication between isolated blockchains with cross -chain messages. The protocol supports 125 blockchains, has facilitated more than 145 million cross chain messages and $ 75 billion in value transfers. His technician supports projects such as Paypal Stablecoin, Defi Protocols Ethena and Pendle, and was selected as a broadcast partner for the Wyoming Stablingin project.
The investment will help the protocol to expand beyond interoperability to the issuance of tokens, data management, governance and improve databases, according to an email.
