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Biconomy Raises $11.5 Mln Via Sale Of Its CoinList Tokens.

Blockchain companies are positioning themselves to be at the forefront of Web 3.0’s progress. The BICO auction attracted more than 12,500 individuals.

Biconomy, a multichain transaction network, recently revealed that it had successfully sold the public token of its BICO cryptocurrency, gaining over 12,500 new token holders in the process.

The public sale was conducted through the CoinList token list platform, which raised a total of $ 11.5 million. The sale attracted over 850,000 people, making it the longest waiting list on CoinList to date. On October 14, two options for 40 million and 10 million BICO tokens were available for purchase.

BICO will be utilized to strengthen the Biconomy ecosystem as it seeks to recruit more developers. Multichain relayer is a network designed to aid developers in creating Web 3.0 apps. Web 3.0 is a broad concept that represents the next stage of Internet development.

After the advent of Gasless, a device that allows DeFi applications to pay for gas bills on behalf of other users, Decentralized Finance, or DeFi, became a key component of Biconomy usage. The overall market capitalization of DeFi projects has surpassed $ 140 billion, and the total number of locks has surpassed that amount.

Three months after the company completed a $ 9 million funding round led by DACM companies and Mechanism Capital, the Biconomy token was sold.

As retail and institutional investors want to penetrate the lower tiers of developing projects, capital continues to pour into the cryptocurrency market. The 5G blockchain Helium network and developer studio Solana Labs, which raised $ 111 million and $ 314 million, respectively, are two of the most well-known coins of the year.

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