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Major Milestones Shows XRP Ledger Is Becoming A DeFi Force To Be Reckoned With
After the XRP token recorded an all-time high in daily trading volumes for crypto exchanges in the US, the Ripple ecosystem has achieved a new milestone, successfully hitting over 82 million registered ledgers on its XRP Ledger.
XRP Ledger Surpasses 82 Million Ledgers
XRP Ledger, a decentralized public blockchain backing the XRP token has gained recognition for its unique consensus algorithm and incorporation of the XLS-20 protocol. The leading cryptographic ledger reported that it had closed approximately 82,035,421 registered ledgers on its blockchain.
This achievement follows another milestone in August where XRPL successfully locked in 81 million ledgers. The blockchain ledger’s rapid growth has been a significant achievement for the ecosystem, emphasizing XRPL’s commitment to decentralization and focus on speed, scalability, and security.
A blockchain researcher, Collin Brown announced details of XRPL’s recent achievements in an X (formerly Twitter) post on Thursday, September 21. Brown was enthusiastic about the current development in the XRP ecosystem and even suggested that the XRP blockchain ledger is on its way to becoming an adversary to crypto giants in the space like Bitcoin and Ethereum.
“With over 82 million ledgers successfully closed, the XRPL continues to make history. The XRPL’s growth in NFTs positions it as a STRONG competitor to Ethereum, paving the way for increased XRP adoption!” Brown said.
XLS-20 Feature Drive Crypto Adoption And Growth For XRPL
The XRP Ledger has long been celebrated for its advanced scalability and decentralization features. However, with the introduction of the XLS-20 feature in 2022, XRPL has emerged as a force to be reckoned with in the NFT ecosystem.
The XLS-20 protocol delivers new features to the XRP ledger. According to Brown, XLS-20 is integrated with special features like minting and burning, automated royalties, DEX integration, and traditional NFTs.
XRPL has also recorded over 1.9 million NFTs minted on the ledger and almost 30,000 user accounts own 1.6 million of the minted NFTs. Additionally, approximately .8 million worth of NFT assets have been sold in one-step transactions on the blockchain.
While XRPL’s foray into the NFT sector has sparked major interest among creators and collectors in the space, the XRPL ecosystem has also reported upcoming upgrades in its layer 2 smart contract platform, Evernode.
According to reports, the Evernode network will be featuring new upgrades that improve the reliability and sustainability of the platform, while also furthering crypto and NFT adoption and innovation in the space.
Friend.tech Records Two New Milestones Amidst Renewed Hype
Friend.tech, a decentralized social network, has witnessed a sharp resurgence barely two weeks after critics pronounced the platform dead. The platform is enjoying renewed user interest, with its total value locked (TVL) surpassing million a few days ago.
Thanks to this growing momentum, Friend.tech has seen its trading volume and platform fees rise to new peaks.
Friend.tech Continues Resurgence With New Trading Volume Peak
Decentralized application (dApp) Friend.tech has witnessed significant activity in the past few days. This has been reflected in the social media platform’s daily active users, which grew to nearly 16,000 on Wednesday, September 13.
As a result of this upward trend, Friend.tech also reached its highest trading volume of .51 million on Wednesday, according to Dune Analytics data. The platform recorded .9 million in capture fees, representing another all-time high on the same day.
Dune data dashboard revealed that fees on Friend.tech accounted for more than 35% of the gas cost on the Base blockchain on September 13.
Moreover, the population of traders on the decentralized application experienced a significant increase, with unique buyers surpassing 155,000. Meanwhile, the number of unique sellers climbed above 75,000 on Wednesday.
As of this writing, Friend.tech has a total value locked of nearly million, according to DefiLlama. This figure represents an almost 30% rise in the past 24 hours.
Here Are Possible Reasons For Friend.tech’s Recovery
Friend.tech went live on Coinbase’s Ethereum layer-2 network, Base, in August. The decentralized application allows users to trade “keys” of X (formerly Twitter) accounts and interact with social media personalities in a closed, group chat format.
Following its launch, Friend.tech gained prominence within a short span. However, activity on the platform slumped abruptly before the end of August, with its trading volume nosediving by 94% at some point.
Fortunately, Friend.tech appears to have recovered from the decline. Although there is no evident catalyst for the platform’s latest activity surge, various theories have emerged from different angles of the crypto community.
Notably, a recent TokenTerminal report proposed that several factors may be responsible for Friend.tech’s growth. Specifically, the blockchain analytics site highlighted that Friend.tech has no direct competitor, with X (a Web2 application) being its closest rival.
Additionally, the report pointed to the social media platform’s strategic takeoff, which coincided with the public mainnet launch of Base. TokenTerminal suggested that the timing of Friend.tech’s launch was to maximize activity on both the dApp and blockchain.
Another possible reason for the latest resurgence was explained by popular crypto trader Hsaka. According to the trader’s post on X, the platform’s total value locked soared since users discovered they could receive rewards for depositing crypto assets.
Fast-growing gTrade Platform Gets $250K Grant As It Closes In On First Major Milestones
Rapid organic growth has put Gains Network’s decentralized gTrade platform well on the way towards achieving the first major milestones on its roadmap. Now, armed with 0,000 in funding from the Polygon DeFi, its founders are confident it will soon hit its second set of milestones.
Gains Network is intending to build a blazing-fast and liquidity-efficient leveraged trading platform with a decentralized architecture on the Polygon blockchain, giving investors the benefit of lower fees and faster trades. gTrade currently offers 43 cryptocurrencies and 10 major Forex pairs. Its asset-agnostic synthetic trading architecture, which is powered by the minting and burning of its native GNS token, ensures investors benefit from median spot price leverage, no fees and zero price impact. The exchange also claims to offer the fairest prices, with each asset trade executed at the median spot price across multiple exchanges.
gTrade also has the huge advantage of not needing liquidity for each trading pair, with 100 percent liquidity settlements on all pairs backed by the GNS/DAI pool and the DAI vault.
Those benefits are clearly not lost on crypto investors, who have been flocking to gTrade in their droves. As a result, Gains Network said it is already close to hitting its primary goal of sustaining million in daily trading volume for 10 days, with a current average of million traded through its platform each day. It’s also on the verge of hitting its target of a maximum ,000 per-trade collateral enabled by its DAI Vault, with its current max sitting at ,000 per-trade collateral.
Other targets on gTrade’s roadmap include reaching million in GNS/DAI liquidity and million total value locked in the DAI Vault. The first of those objectives has already been reached, with gTrade boasting million in GNS/DAI liquidity, while the DAI Vault is getting close with .8 million in total value locked.
Gains Network has now unlocked 0,000 worth of MATIC tokens with its first Polygon grant, and once its initial goals have been reached it will receive a second, 0,000 grant to help it hit its next set of milestones. Those call for 0 million in daily trading volume, ,000 maximum per trade collateral, million in GNS/DAI liquidity and million staked in the DAI vault.
“It is a great pleasure for us to work with Polygon for this trading incentives program,” said Gains Network founder Sébastien. “Gains Network’s mission with gTrade has always been to provide an innovative, decentralized, and fair solution for leveraged trading.”
Istanbul to Berlin Ethereum Milestones on the Road to Serenity
n The Istanbul hard fork is getting Ethereum one step closer to its long-anticipated 2.0 versionn
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Ethereum Closes Gap on XRP, While Tron Makes Network Milestones
The recent market volatility has resulted in constant shifting of the order of the top ten cryptocurrencies by market capitalization. Naturally Bitcoin remains at the head of the digital table but the battle for second place is heating up again.
Market Cap Gap Under Billion
Ethereum’s recent recovery has outpaced that of XRP enabling it to close the gap on second place. By late November Ethereum had plunged so far that Ripple’s XRP surpassed it as the second largest cryptocurrency by market capitalization.
XRP increased that gap over the following six weeks as Ethereum fell even further hitting an 18 month low of on December 15. At its greatest the difference between the two crypto assets was over billion market cap when Ethereum dropped below billion.
Since that low ETH has recovered almost 60% to its current level around 5. XRP in comparison has only made 28% back from its mid-December low of .283. Despite making more fintech partnerships and expanding RippleNet, XRP has not been able to match Ethereum’s recovery rate and the gap is closing.
At the time of writing the difference between the two cryptocurrencies was 0 million market cap. XRP has lost 3% on the day whereas Ethereum is only down 1%.
Tron Hits Network Milestones
Further down the chart Tron has managed to hold tenth spot and is challenging for ninth. Cardano has dropped out of the top ten completely and has been one of the year’s worst performing altcoins. Since the 2018 low on December 15 TRX has recovered 58% and its market cap is currently .3 billion, closing up on Bitcoin SV above it with .5 billion.
The Tron network continues to expand reaching a million accounts last weekend as tweeted by founder Justin Sun;
TRON #Dapp Weekly Report 12.22-12.28. With the rapid expansion of #TRON ecosystem, the account number on TRON officially exceeded 1 million this week. The outstanding performance of #TRX in the secondary market also made people feel more confident of $TRX. https://t.co/XkdKd2Mqza
— Justin Sun (@justinsuntron) December 28, 2018
This impressive milestone has come just 184 days after mainnet launch. In comparison Ethereum to 542 days to reach a million accounts after its mainnet went live.
As pointed out by Sludgefeed Tron hit another milestone last week when it reached over a million contract triggers which is a signal of increased gaming dApp activity on the network.
TRX is currently trading 3% down on the day as markets pull back from yesterday’s billion pump during the Asian trading session. Since last weekend it has dropped almost 5% but over the past month TRX has made a 40% recovery from yearly lows.
Image from Shutterstock
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ATLANT Announces Multiple Milestones as ICO Launches
Global Real Estate Platform Has Achieved Several Important Milestones with Respect to New Feature Releases,…nThe post ATLANT Announces Multiple Milestones as ICO Launches appeared first on Bitcoinist.com.n
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Top 3 Ethfinex Roadmap Milestones in Development
Not too long ago, we touched upon the concept of Ethfinex, an exchange platform which is scheduled to launch soon. It turns out there is a lot more to this platform than most people would assume. A platform designed specifically for the Ethereum community needs to be pretty versatile. With the roadmap unveiled, things are getting quite interesting. Below are some of the upcoming developments which caught our attention. 3. Hybrid Decentralized Exchange This particular business model is not something one will find anytime soon in other Ethereum-oriented exchanges. The Hybrid Decentralized Exchange Model will be a game changer when it comes
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