A little-known altcoin has doubled up over the last 24 hours amid new partnerships and perpetual contract listings.

New information reveals that data exchange digital asset REI Network (REI) – which aims to be a feeless Web3 protocol – is trading for $0.280 at time of writing, an increase of about 103% during the last day.

The crypto’s rise in price coincides with its announcement of numerous collaborations with other crypto and tech firms, such as OpenTaskAI, an artificial intelligence (AI)-focused global marketplace that connects businesses and freelancers.

“[REI Network] aims to achieve a lightweight, EVM (Ethereum Virtual Machine) compatible, higher performance, and no fee blockchain framework. This collaboration connects our AI talents with their enterprises, leading AI + Web3’s future!”

Furthermore, REI Network says it’s also forming a partnership with the OpenName Project, an omnichain naming service that will simplify how Web3 domain names are registered and managed over REI.

“We’re excited to announce OpenName Project, a leading Omni-chain Name Service, has now teamed up with the REI Network. This partnership marks a significant step forward in simplifying the registration and management of Web3 domain names on the REI Network.”

Lastly, crypto exchange Gate.io – currently the seventh-ranked platform in terms of 24-hour normalized volume – has announced that it has added REI/USDT perpetual contracts to its list of products.

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