cryptonews.net
The native token of the interoperability protocol LayerZero ($ZRO) surged on Thursday amid news that the crypto arm of venture capital firm Andreessen Horowitz (a16z) has increased its investment in the project. The company purchased an additional $55 million in $ZRO tokens, committing to a three-year lock-up period.
A16z was an early backer of protocol development company LayerZero Labs, participating in a $135 million Series A fundraising round in 2022 and a subsequent $120 million Series B round in 2023. LayerZero is a key piece of infrastructure that enables communication between isolated blockchains via cross-chain messages. The protocol currently supports over 125 blockchains, powers 70% of stablecoin interoperability, and has processed over 140 million messages.
This development highlights growing investor confidence in infrastructure projects that provide cross-chain functionality. As blockchain adoption increases, LayerZero aims to become the default messaging protocol for connecting fragmented ecosystems in crypto.
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