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As the bull cycle in the crypto market gains momentum, the Acala network, designed for DeFi, is making a comeback. With initial funding from Ethereum, Compound, Bitcoin.org, and others, Acala is ready to skyrocket in the new crypto bull run.
Acala, a key player in the decentralized finance (DeFi) landscape within the Polkadot ecosystem, has announced a significant move as part of its Acala 2.0 initiative. The protocol is gearing up to burn a substantial number of its tokens, specifically 159,441 ACA tokens, on December 26th.
Over the past two years, the parabolic run of cryptocurrencies has resulted in significant awareness of the crypto-verse. Acala is one such cryptocurrency that has captured the attention of investors. It was launched in January of 2022 and is based on the Polkadot blockchain.