ANVL Rises 83% as Market Capitalization Reaches $109.4 Million

Anvil’s governance token ANVL rose more than 83% over 24 hours, reaching a $109.4 million market capitalization as it traded at $0.001242.

The token’s fully diluted valuation was $124 million, while 24-hour trading volume was $415,000.

Anvil is based on Ethereum and uses digital assets as collateral for financial commitments such as payments and credit. The protocol uses on-chain collateral to back those commitments instead of having users borrow assets and pay interest.

Anvil Research Labs launched a software development kit designed to help businesses and financial institutions integrate the protocol without writing blockchain code. Consensus, Bitcoin.com and payments company Flexa are listed as partners.

ANVL has a total supply of 100 billion tokens, with about 80 billion in circulation. Anvil network total value locked, or TVL, was about $14 million.