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iExec RLC, Native Crypto of Decentralized Cloud Network iExec, Jumps 400% on Coinbase Listing

UTC by Bhushan Akolkar · 3 min read
iExec RLC, Native Crypto of Decentralized Cloud Network iExec, Jumps 400% on Coinbase Listing
Photo: IEXEC / Facebook

The iExec network announced $1 million in rewards and grants for developers to unlock new opportunities using the iExec protocol. Recently, iExec also announced its participation as a technology provider in the EU-backed Data Cloud project.

The magic of Coinbase listing has always helped cryptocurrency shoot new highs: now, the blockchain-based decentralized cloud computing network iExec RLC is bearing the fruits of it.

The iExec protocol is an innovative market network allowing anyone to monetize their servers, applications, and data sets. It also supports compute-intensive applications in areas like Big data, AI, rendering, healthcare, and FinTech.

Results of iExec RLC Listing on Coinbase

RLC, the native cryptocurrency of the iExec RLC platform has been rallying recently after listing on several CEX exchanges. On Monday, May 10, the iExec RLC price surged to its all-time high above $15. In a week’s time, the RLC price moved from $3.5 to $15, registering nearly 400% returns.

Upon seeing the weekly chart, it is clear that the major momentum comes after the iExec RLC listing on Coinbase. The RLC price momentum picked up on May 7, after popular crypto exchange Coinbase announced listing. Since Coinbase is the topmost US exchange by volume, the liquidity to RLC shall be higher.

Last week on May 5th, crypto exchanges Huobi and Bithumb also announced RLC listing. This certainly adds up additional trading volumes for the RLC token. Last week on May 6, iExec announced the launch of the iExec Developer Rewards Program.

This program brings $1 million in rewards and grants. This will also help developers to unlock new opportunities in innovation using the iExec protocol. the Monday’s price rally for iExec RLC came after iExec announced its participation as a technology provider in the EU-backed Data Cloud project.

iExec Joins the ‘Trusted Compute Working’ Group

Trusted off-chain computing has been one of the major strengths of the iExec protocol. The iExec network leveraged PoCo – Proof of Contribution – for off-chain computing. As per the iExec announcement, its representatives are also heading the ‘Trusted Compute Working’ group within the Ethereum Enterprise Alliance.

Besides, the great thing is that iExec has also been working with big-tech giants like Google and Intel. Along with Google, iExec is participating in a Confidential Computing Program. iExec has also joined hands with Intel to release ‘trusted compute’ solution for blockchain. As a service provider for Intel, iExec offers a decentralized marketplace for AI models. The platform announced:

“iExec is working with various organizations and consortiums with the goal of providing scalable & secure access to the services, datasets, and computing resources”.

At press time, iExec RLC is trading at a price of $10.61 with a market cap of $850 million.

Altcoin News, Blockchain News, Cloud Computing, Cryptocurrency news, News
Bhushan Akolkar

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

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