Amidst the slumpy market conditions, StakeLayer has surged by over 250% alongside Thala, Dream Machine Token, which surged by double digits.

The crypto market cap has dropped by over 1.5% in the last 24 hours. As per CoinMarketCap data, it currently stands at $2.17 trillion.

Bitcoin (BTC) is bleeding alongside Ethereum (ETH) in single digits. However, the Stakelayer token is up by over 250% during the same period.

Stakelayer market cap eyes $50 million with the pump

Data from CoinGecko reveals interesting price movement for the cross-chain staking and restaking platform’s token. The token has pumped from a 24 hour low of $0.00344 to a high of $0.001489.

The rally has however cooled down as the token is trading at $0.01299 at press time. StakeLayer also touched an all time high today and is down by over 27% from that high.

The token has also earned its spot as the largest gainer on CoinGecko in the last 24 hours. A look at their X account reveals that the team had announced a buyback and burn initiative, which could be one reason for its price surge.

Thala and Dream Machine Token surge double digits

Interestingly, during the same timeframe, Thala (THL) and Dream Machine Token (DMT) surged by double digits. As per CoinGecko data, THL price is up by over 18.5%, while DMT has pumped by 20%.

Even though the exact reason for the surge in DMT’s price is unclear, THL’s price surge can be attributed to the price pump of Aptos (APT). Thala Labs is an ecosystem protocol that aids in borrowing, lending, trading, staking and validating APT.

The recent surge in APT’s price, which saw it touch as high as $10.27 from a weekly low of $7.87, is likely the primary catalyst for the surge in its price. THL is up by over 71% in the last 30 days.

The token has also shown a decent surge in the last week, with its price touching as high as $0.6354 from a low of $0.4228.

Le Poisson Rouge (LPR), an iconic music venue in New York City, has sealed an exclusive partnership with live event ticketing platform KYD Labs to bring its ticketing system on-chain.

On Tuesday, Aptos Labs announced that KYD Labs and LPR had entered an exclusive four-year deal that will see the Aptos blockchain power all of the historic NYC venue’s shows and tickets.

LPR is first major U.S. venue to go all on-chain

The collaboration is the first instance where a major U.S. venue has gone fully on-chain, the Aptos team posted on X. It’s a major milestone for Web3, Aptos added, with this partnership set to offer Le Poisson Rouge’s event goers and music fans a new experience.

“A major US venue with hundreds of thousands of tickets per year transitioning to on-chain ticketing is a big step forward for blockchain utility. Eventually, ticketing will all be on-chain. Better interoperability, directly connecting event organizers to buyers, easy promotions, and verified secondary sales are some big advantages,” Avery Ching, the CTO and co-founder of Aptos Labs, said.

KYD Labs will help LPR tap into the benefits of blockchain technology to improve the ticketing experience for fans. Leveraging Aptos’s technology will also be crucial to artists, who can further engage with fans via on-chain initiatives.

Going on-chain removes challenges and barriers associated with legacy ticketing systems.

Overall, LPR will leverage Aptos to not only monitor secondary ticket sales but also offer a transparent mechanism for its loyalty programs, pricing, and booking rates.

Le Poisson Rouge opened in 2008 and has grown into a historic music venue in New York. Aptos is a Layer-1 blockchain that launched in October 2022 and offers a scalable, low-transaction costs network.