Blockdaemon has completed the purchase of Expand.network to strengthen its position in the crypto sector. This acquisition aims to enhance the company's infrastructure for institutional clients.
Blockdaemon Invests in Expand.network
The recent acquisition of Expand.network is reported to be worth tens of millions. Expand.network offers API access to over 170 DeFi endpoints, bolstering Blockdaemon's influence in the DeFi space and supporting over 250,000 nodes globally.
Ethereum Price Steady Amid Acquisition News
Ethereum is currently trading at $1,800, with fluctuations between $1,750 and $1,820. Analysts suggest the market conditions are volatile, mirrored by the acquisition of new technology. Integration of Expand.network's technology is expected to increase on-chain transaction efficiencies, potentially attracting additional institutional investment.
Strategic Acquisitions Fuel DeFi Growth
Similar to past acquisitions by Chainalysis, this deal highlights how strategic enhancements can improve network capabilities and DeFi access. Experts note that, unlike traditional finance, the rapid evolution of DeFi invites continuous adaptations. Blockdaemon's move is seen as a strategic balance in the competitive landscape of crypto infrastructure.
The acquisition of Expand.network is a significant step in strengthening Blockdaemon's role in the crypto industry and propelling further innovations in DeFi.
