Caldera’s native token ERA has recently experienced a significant surge in value after securing listings on major cryptocurrency exchanges such as Binance and Coinbase. The token saw a remarkable 121% increase, reaching an intraday high of $1.88 on July 18th, boosting its market capitalization to around $278 million.
Investor confidence in Caldera (ERA) was bolstered by its listings on Binance, Coinbase, and Upbit. Binance, known as the world’s largest cryptocurrency exchange by trading volume, Coinbase, a leading platform in the United States, and Upbit, a prominent exchange in South Korea, all adding support for the token. Additionally, exchanges like Bybit, KuCoin, Gate, MEXC, Bitget, and Bithumb also listed ERA, further contributing to its rally.
The recent token generation event on July 17th established a total supply of 1 billion ERA tokens, with a circulating supply of 148.5 million ERA, representing 14.85% of the total. Notably, Binance users received 20 million ERA tokens through an airdrop program. Furthermore, a community airdrop managed by the Caldera Foundation allocated 7% of the total token supply to early supporters and ecosystem contributors.
Following a pattern often seen in the cryptocurrency market, the price of ERA surged post-listing on exchanges. However, such rallies can be short-lived as early investors may sell their airdropped tokens to realize profits, leading to price corrections. For example, Newton Protocol’s NEWT token experienced a similar trend after listing on Binance and Coinbase last month.
Caldera is a blockchain infrastructure provider known for its “Rollup-as-a-Service” solution, enabling teams to create their own Layer-2 or Layer-3 blockchains with ease. The platform has supported projects like Manta Network’s Manta Pacific, ApeChain, Plume Network, and various custom rollups. The ERA token will serve as the backbone of the Caldera ecosystem, facilitating gas payments, validator staking, and community-led governance.
It is important to note that this article does not constitute investment advice and is intended for educational purposes only. As with any investment, thorough research and caution are recommended before making financial decisions in the cryptocurrency market.