EQS-News: Advanced Blockchain AG: Portfolio company Neon Labs achieves $11 million daily trading volume with its NEON token while the price hit a new all-time high

Advanced Blockchain AG: Portfolio company Neon Labs achieves $11 million daily trading volume with its NEON token while the price hit a new all-time high

December 21, 2023 – Advanced Blockchain AG (Scale Frankfurt, primary market Düsseldorf, XETRA: ISIN DE000A0M93V6), is pleased to announce that its portfolio company Neon Labs, a leading player in the Solana ecosystem, recorded significant trading volume and token price increase in the fourth quarter of 2023, reflecting remarkable technological advances.

Simon Telian, CEO of Advanced Blockchain AG: "As an early investor in Neon Labs, Advanced Blockchain has always believed in the vision of the Neon Labs team. Their focus on enabling developers to deploy decentralized applications on the Ethereum network, while leveraging Solana’s network benefits like low fees and high transaction speeds, is a testament to Neon Labs commitment to innovation and progress in the blockchain space. This commitment is underscored by the impressive recent market performance, reflecting the growing recognition and support for Neon Labs groundbreaking approach.”

Neon token surpasses $11 million daily trading volume

NEON token has achieved a remarkable milestone, surpassing $11 million in daily trading volume for the first time since its launch. Additionally, the token recorded a notable price increase of over 400% in the past thirty days. As a result of the price increase, Advanced Blockchain, through its subsidiary Incredulous Labs, holds rights to receive NEON tokens currently worth over $1 million.

Neon Labs recently introduced the transformative approach of parallel transactions, fostering scalability, and efficiency for dApps developers through the launch of their RPC endpoints on Chainlist.

PICA token reaches new heights with close to $5 million in daily trading volume

Similarly, Picasso’s - Composable canary network - PICA token reached an unprecedented trading volume peak, hitting close to $5 million. This marked a substantial 277% price increase in a mere 7 days. Demonstrating their dedication to fostering cross-chain interoperability, Composable team recently announced the launch of Solana IBC, paving the way for the implementation of the Ethereum restaking concept on the Solana network. Additionally, the Composable team is expecting the Ethereum/IBC mainnet to go live within the next few weeks. To date Incredulous Labs holds PICA token worth over $0.5 million. 

Through an investment in Advanced Blockchain AG investors gain unique exposure in these early-stage companies while simultaneously diversifying their portfolio with high-performing crypto assets.

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About Advanced Blockchain AG:

Advanced Blockchain AG (Scale Frankfurt, Primary Market Düsseldorf, XETRA: ISIN DE000A0M93V6) is a venture builder and investor in the blockchain industry with an extensive network of analysts, developers, programmers, economists, and mathematicians. Advanced Blockchain AG is dedicated to developing the future of Web 3.0 and innovating in different ecosystems and markets of the industry.

For more information about Advanced Blockchain AG, its various projects, and investments, please visit https://www.advancedblockchain.com/.