Calamari Network surges 53% following Manta announcements
![Calamari Network surges 53% following Manta announcements](https://crypto.news/app/uploads/2023/12/crypto-news-trading-chart-option02.webp)
Calamari Network, a protocol closely linked to Manta Network, reported double-digit growth following several partner announcements.
Calamari Network (KMA) holds a market capitalization of $26 million, a value derived by multiplying the token price with the circulating supply of KMA tokens, which currently stands at four billion tradable tokens.
![Calamari Network surges 53% following Manta announcements - 1](https://crypto.news/app/uploads/2024/01/Screen-Shot-2024-01-17-at-8.04.21-AM-1024x519.png)
With a 53.3% surge in the last 24 hours and a 78.8% increase in the last 7 days, KMA demonstrates superior performance compared to the global cryptocurrency market, which is experiencing a decline of 4.7%. Simultaneously, KMA is outperforming similar Zero Knowledge (ZK) cryptocurrencies, which show an increase of 6.9%.
Calamari Network is recognized as a plug-and-play privacy-preservation protocol for the entire defi stack on Kusama and, as a result, has a close link to Manta Network on Polkadot. As retweets made by the official X account indicated, two significant announcements on the Manta Network were likely to have a trickle-down effect on the Calamari Network.
Namely, the introduction of the new Binance Launchpool for MANTA and the unveiling of Manta Network as the modular Layer 2 solution for Zero-Knowledge (ZK) applications.