Multicoin Invests in Grass, Driving Token Price Surge

Multicoin Capital has invested in Grass through both its hedge fund and venture capital fund. This investment led to GRASS briefly surpassing 0.8 USDT in value.

The exact amount of Multicoin's investment was not disclosed, but the token did see significant gains following the news. Over a 24-hour period, GRASS traded at 0.72 USDT, representing an increase of 23.76%.

Grass is working on a decentralized physical infrastructure network (DePIN) that incentivizes users to share their unused internet bandwidth. This shared bandwidth is used by the company to collect and process publicly available internet data for use in artificial intelligence laboratories.