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Moonbeam Integrates Cross-Chain Messaging Protocol LayerZero

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Today’s Cryptocurrency Headline

Polkadot parachain Moonbeam announced the integration of cross-chain messaging protocol LayerZero to facilitate Web3 interoperability. Derek Yoo, CEO of Purestake, Moonbeam’s parent company, said that the move aims to offer a broader messaging service across various chains such as Ethereum, BNB Chain, Polygon and others. Yoo said this will encourage developers to deploy their applications on Moonbeam. It was reported in May that LayerZero Labs was seeking a new financing round at a $3 billion valuation.

BingX’s Bitcoin Chart

Source: TradingView & BingX

According to CoinShare, digital asset investment products saw minor outflows last week totalling US$27m, marking the three consecutive weeks of outflows totalling US$46m. Bitcoin is up 3.28% over the last 24 hours and rose to an intraday high of $20,426.47. The largest cryptocurrency closed below the psychological level of $20,000 on Aug 28, but the buyers managed to push the price back above $20,000 today, which indicates strong demand at the $20,000 price level. For now, the buyers must hold the price above the psychological level of $20,000 in order to avoid further decline.

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