Picasso is a DeFi infrastructure-focused Layer 1 protocol designed to address the challenges of cross-chain interoperability and security. It achieves this by extending the Inter-Blockchain Communication (IBC) protocol to connect multiple ecosystems, including Solana, Ethereum, Cosmos, and Polkadot. Picasso functions as a cross-ecosystem IBC hub, enabling secure asset transfers and facilitating the cross-pollination of assets, builders, and communities between these networks. The project also introduces a Generalized Restaking Layer, allowing users to enhance the security of various blockchain networks by restaking assets across multiple Proof-of-Stake (PoS) systems.
Picasso Price Analysis
As of September 7 2024 Picasso has a marketcap of $3.1M.
This is {{percentagefromath}} from its all time high of $0.02857193.
In terms of its tokenomics, there's a total supply of 10B with 81% currently outstanding.
Keep in mind Picasso has a fully diluted value of $3.8M which many investors might interpret as overvalued.
Of course, don’t trust price predictions alone, always check the Coinrotator token screener to follow the trending market.
Summarized in part by ChatGPT 4 and Claude
