Binance Supported Altcoin Staking and New Service Announcement!

The world’s largest cryptocurrency exchange Binance announced a new staking for its launchpool-supported altcoin. According to The Block, AltLayer (ALT), a decentralized platform that allows developers to easily create rollups with software such as OP Stack, Arbitrum Stack, ZKStack, and Polygon CDK, announced the multi-stage launch of ALT token staking with MACH Alpha. The staking service is said to be used to secure and support Ethereum layer-2 scaling solutions. MACH Alpha, on the other hand, is a service based on the re-staking method of EigenLayer to provide security. AltLayer encourages EigenLayer operators and liquid restaking providers to join the fast finality service called MACH Alpha. However, the announcement did not have a significant impact on the price of ALT, which is currently trading at $0.62, according to CoinGecko.