$300M incentive program supports 100% rally in Harmony. (ONE) price

After announcing plans for a $300 million ecosystem fund, ONE price gained more that 100%.
After a number projects have launched multimillion-dollar funds to encourage builders and investors to migrate to layer-2, protocol and community development initiatives have become a new trend in cryptocurrency markets. Cointelegraph Markets Pro and TradingView data show that ONE price has rallied 120% since hitting a low at $0.095 on August 31, and reached a daily high of $0.21 on September 9, as its 24-hour trading volume jumped to $717 million. 4-hour chart of ONE/USDT Source: TradingView. The surge in the ONE price was caused by the announcement of a $300 million ecosystem fund that would help 10,000 developers and project founders build on the protocol. Today, we are announcing our $300 million ecosystem fund to accelerate 10,000 builders.The @harmonyprotocol ecosystem has been growing exponentially and we aim to fund 10,000 more crypto founders, builders and creatives.Let’s build the future together: https://t.co/6Yb9DoAa65– Harmony (@harmonyprotocol) September 9, 2021

The Harmony price also received benefits from cross-chain integrations and new partnerships established over the last few months. The most recent development was the September 8 announcement of a partnership between Anyswap and Harmony that will bring a Bitcoin bridge. Related: A new fund will put hundreds of millions towards Algorand DeFi Growth. Funding incentives incite price rallies. Avalanche announced its $180 million “Avalanche Rush DeFi incentive program” which was followed up by a 200% increase in AVAX’s price. Fantom is another example. Its price has risen by 300% since the announcement of its 370 FTM reward program. Terra’s “Project Dawn” launch allocated $150 million to improve Terra’s ecosystem. Algorand launched a $300 million Viridis DeFi Fund to maximize the growth of the DeFi ecosystem in Algorand. These views and opinions are solely the author’s and do not necessarily reflect those of Cointelegraph.com. You should do your own research before making any investment or trading decision.

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