Mytosis: TVL surges in a month… impact of major exchange listings

Layer-1 blockchain Mytosis (MITO)'s total value locked (TVL) surged sharply in a month.

According to blockchain data platform Dune Analytics, on the 29th of last month Mytosis' TVL was $440 million (about 615 billion won). This is about a 5.2-fold increase compared to the previous month.

During the same period, Mytosis' number of users also surged. As of the 29th, Mytosis recorded 316,000 users, about a 46% increase in a month.

News of listings on major global exchanges is analyzed as the main reason for Mytosis' strong performance.

Mytosis was listed on the futures and spot exchanges of Binance, the world's largest crypto exchange, at the end of last month, and global major exchanges such as Bybit and Bitget also began supporting Mytosis futures trading.

Events held alongside the token listings also influenced investor inflows. Mytosis ran a token generation event (TGE) and Booster Campaign Season 1 on Binance last month. A total of 89,000 wallets participated in Season 1.

It is currently running Booster Campaign Season 2, and Season 2's prize pool includes Mytosis tokens worth $1.4 million (about 2 billion won).

Mytosis is a programmable liquidity layer-1 network and launched its mainnet last month. It aims to provide a liquidity provisioning environment to decentralized finance (DeFi) projects and liquidity providers. Mytosis is currently integrated with nine chains including Ethereum (ETH), Arbitrum (ARB), and Optimism (OP).

In May last year, Mytosis raised $7 million (about 9.7 billion won) in a seed round led by Amber Group and Foresight Ventures.