Bithumb, a Korean crypto exchange has confirmed its support for an Ethereum altcoin, Across Protocol (ACX), a cross-chain bridge designed to improve interoperability between blockchains. Following the news, Across Protocol (ACX) experienced a significant surge, rising from $0.275 on March 22nd to $0.462, marking an impressive 68% increase.
Its intent-based system sets Across Protocol (ACX) apart from traditional cross-chain bridges. This system allows users to define transaction outcomes instead of the execution method. It also introduces relayers, third-party entities that handle transactions efficiently by competing on cost and speed.
One major driving force for altcoin price spikes is exchange listings. When an emerging altcoin secures a spot on a top-tier exchange, it gains higher trading volumes and increased liquidity. It also attracts new investors looking for the next big opportunity.
However, while the recent Across Protocol (ACX) price action is impressive, the real question is whether this rally is sustainable.