Monat: September 2023

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Base ecosystem expands by 97.21% as TVL surpasses that of Solana

  • Base’ has outpaced established networks like Solana proving its growing prominence in the DeFi landscape.
  • Base’s remarkable rise is driven by projects like Aerodrome Finance and Friend.tech.
  • Base has also enjoyed an impressive increase in transaction volume.

Coinbase’s layer 2 network, Base, has witnessed an astounding surge in its Total Value Locked (TVL), hitting approximately $397.32 million within just a month and a half since its August launch.

This meteoric rise has propelled Base ahead of Solana, whose TVL currently stands at $358.96 million. In the past 30 days alone, Base’s TVL surged by a staggering 97.21%, as evident on DeFiLlama, while Solana experienced a 9.64% decrease in TVL during the same period. Interestingly, the surge comes even after Base suffered an outage at the beginning of September.

Screenshot from DefiLlama

Blockchain projects launched on Base

Within Base’s TVL, two native projects have played a pivotal role. Leading the charge is the decentralized exchange (DEX) Aerodrome Finance, boasting a TVL of $97.83 million. In a similar vein, the decentralized social media (DeSo) app Friend.tech secured the second spot with a TVL of $36.53 million.

Aerodrome Finance, launched on August 28, allows users to deposit liquidity and earn AERO tokens. Its TVL saw an explosive growth spurt on August 31, with an influx of $150 million in a single day. However, it subsequently witnessed a decline of approximately 51% from its peak.

Friend.tech, introduced on August 11, enables users to tokenize their social networks through the exchange of “Keys.” Despite initial concerns regarding user activity and fees in late August, the platform staged a remarkable comeback in September. DeFi Llama reports that Friend.tech’s TVL skyrocketed by a staggering 540% over the past month, primarily driven by increased daily trading volume since September 9.

Further down the list, Base’s TVL is predominantly attributed to multi-network DeFi platforms such as Compound, Curve, and Uniswap.

Increased daily transactions

Notably, Base recently achieved an all-time high in daily transactions, reaching 1.88 million on September 14. This accomplishment firmly positions Base ahead of rival chains like Optimism and Arbitrum, which collectively managed almost 880,000 transactions on the same day.

While daily transactions have dipped to around 908,000 as of September 22, Base’s transaction ATH remains unbroken.

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World Digital Mining Summit: Bitcoin miners embrace efficiency and renewable energy

  • Bitcoin mining is at the heart of the digital gold rush and it is a critical process that underpins the entire cryptocurrency ecosystem.
  • Bitcoin miners validate transactions, secure the network, and, in the process, earn newly minted Bitcoin.
  • The World Digital Mining Summit (WDMS) stands as a beacon of innovation and collaboration within this dynamic space.

The recent World Digital Mining Summit (WDMS) witnessed a groundbreaking moment for the Bitcoin mining industry as Bitmain, a prominent player, unveiled its highly anticipated Antminer S21 and S21 Hydro ASIC miners. These state-of-the-art mining machines have set new industry standards for both performance and energy efficiency.

The Antminer S21 boasts an impressive hashrate of 200 TH/s and an extraordinary efficiency rating of 17.5 J/T (joules per terahash), while the S21 Hydro delivers a remarkable hashrate of 335 TH/s with an efficiency of 16 J/T. These statistics mark a significant departure from the historical norm where most Bitcoin ASICs operated above the 20 J/T threshold.

What makes these ASIC miners truly revolutionary is their unwavering focus on energy efficiency. In an environment where electricity costs continue to rise, the Antminer S21 series presents a glimpse into the future of Bitcoin mining. It’s a future where miners can optimize their operations for maximum output while consuming minimal energy, reflecting the industry’s commitment to sustainability and cost-effectiveness.

Efficiency advancements and sustainability:

One of the key trends that emerged at WDMS was the integration of renewable energy sources into Bitcoin mining operations. This trend is driven by two crucial factors: the relentless increase in electricity costs and the impending Bitcoin supply halving scheduled for April 2024.

Miners are acutely aware of the need to reduce operational expenses to maintain profitability. Rising electricity costs have prompted them to seek sustainable energy solutions. By incorporating renewable energy sources like solar and hydroelectric power, miners aim to mitigate the impact of escalating energy bills and ensure the long-term viability of their operations.

Renewable energy integration isn’t just about immediate cost savings; it aligns with a broader commitment to environmental responsibility. In a world increasingly focused on sustainability, miners view renewable energy as a strategic imperative for ensuring profitability and industry longevity.

Upcoming Bitcoin Halving pose some challenges

The looming Bitcoin supply halving represents a formidable challenge for miners, as it halves their block reward distribution. To address this challenge, miners have two pivotal choices: increasing their reliance on sustainable energy sources or making efficiency improvements to their ASIC fleets.

These strategic decisions will determine their ability to adapt to the evolving mining landscape, where efficiency and sustainability are key.

In conclusion, the WDMS showcased an industry in transition, with Bitcoin miners embracing efficiency-focused innovations and renewable energy integration. This commitment to sustainability and environmental responsibility reflects the industry’s adaptability and resilience. As the Bitcoin mining ecosystem evolves, it does so with a clear focus on efficiency, profitability, and a greener future.

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BTC to $30K? Glassnode Founders Think So; XRP, LINK, and QUBE Poised for Monumental Rise

The crypto market is stirring with excitement after Glassnode founders made a bold prediction regarding Bitcoin’s future price trajectory. According to the founders of this top analytics firm, Bitcoin could soon potentially reach $30,000, which has sparked discussions and heightened enthusiasm. Additionally, other top altcoins making waves in the crypto landscape are Ripple ($XRP), Chainlink ($LINK), and InQubeta ($QUBE), which are poised for a monumental rise.

This article will delve into the bullish price prediction of Bitcoin. Further, it will explore the promising trajectory of $XRP, $LINK, and $QUBE, including why they are the best cryptos to invest in.

InQubeta ($QUBE): predicted strong surge in 2023

InQubeta and its native utility token, $QUBE, have generated significant interest in the crypto community. With its innovative ecosystem and novel concept, it aims to transform the most disruptive invention of this century: artificial intelligence (AI). By leveraging blockchain technology, it will become the first crowdfunding platform for AI startups via crypto and will democratize access to the AI market. This revolutionary move has seen it raise over $3.1 million in presales, making it poised for a monumental rise after its launch.

Within its mutually beneficial ecosystem and NFT marketplace, AI startups can raise funds by minting investment opportunities, which will be tokenized as NFTs. On the other hand, by fractionalizing these NFTs backed by real-world AI investment, investors will be able to hold stakes in promising AI ventures regardless of their income. Other appeals of the token, which will contribute to its rally, include its governance function and staking mechanism. Token holders will be able to stake their tokens in exchange for rewards while also exercising voting rights.

The ongoing $QUBE presale is currently at stage 4, priced at just $0.0133 per token. It has been tipped as a good investment thanks to its innovation and significant growth potential. According to forecasts, it will soar by 30x in the coming months.

Bitcoin ($BTC): bullish Glassnode forecast

Bitcoin is at the heart of the recent frenzy in the crypto market after the Glassnode founders’ bold forecast. This leading on-chain market intelligence’s prediction of Bitcoin reaching $30,000 has captured the attention of investors.

As an authority in the crypto scene, this prediction is likely backed by on-chain metrics and historical patterns. The crypto community will be a spectator to how this prediction unfolds in the coming weeks. Nevertheless, Bitcoin is still the best crypto to invest in.

XRP ($XRP): transforming the financial system

$XRP is the utility token of Ripple, a payment protocol. Its traction in the crypto market has seen it become one of the top 5 cryptocurrencies by market capitalization. The waning influence of the SEC on its price and the growing adoption by payment services and financial institutions make $XRP poised for a significant surge.

Hence, $XRP is one of the tokens to look to for immense growth in the coming months. This is thanks to its solid fundamentals and increasing adoption.

Chainlink ($LINK): enabling interaction with real-world data

Chainlink ($LINK) is a blockchain abstraction layer. It enables universally connected smart contracts via an Oracle network. Through a decentralized Oracle network, Chainlink allows blockchains to securely interact with external data or off-chain information. Chainlink plays a critical role in enabling smart contracts to interact with real-world data.

Its growing adoption positions it for substantial growth. Moreover, Chainlink has exhibited resilience amid the turbulent broader market and has also shown strong bullish indicators. Consequently, it is one of the top crypto coins to hold for immense growth.

Conclusion

With Bitcoin stirring excitement within the crypto scene amid its $30,000 bullish forecast, altcoins sharing the spotlight are $XRP, Chainlink, and InQubeta. With these tokens poised for a substantial surge in the future, they represent investment opportunities not to be missed. 

To participate in the novel $QUBE presale that sits at the intersection of innovation and growth, Visit InQubeta Presale or Join The InQubeta Communities.

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Avalanche Drops, Litecoin Faces Resistance, Borroe.Finance Passes $1.1 Million

Avalanche’s ($AVAX) market performance succumbs to bearish pressure, leaving its holders in panic. Elsewhere, Litecoin’s rising popularity on Bitpay is helping $LTC’s efforts to break above its current resistance. 

Meanwhile, Borroe.Finance ($ROE) seems to be in the green zone as its popularity skyrockets beyond expectations. $ROE’s numbers have been impressive, but can they make it one of the top crypto coins over $AVAX and $LTC? Let’s discuss.

Avalanche holders panic as $AVAX drops below $10

The market slump of early September has taken a drastic toll on many top altcoins, including Avalanche. Despite Avalanche’s relatively high network activity, it faces significant bearish pressure in the market. 

The $AVAX token has fallen below double digits following the market downturn. $AVAX was trading at $10.37 on August 28. On September 1, the market slumped, causing $AVAX to fall by 4.3% to $9.92. 

The market fell after the SEC asked Spot Bitcoin ETF applicants to wait until October for its response. Investor sentiment for networks like Avalanche ($AVAX) dropped sharply after the news. Avalanche’s partnerships in the DeFi sector have been rising. Yet, they have been unable to help Avalanche’s ($AVAX) market prospects. 

Even worse, the effects of the market slump on Avalanche don’t seem like waning any time soon. As of September 18, $AVAX was trading at $9.20. Yet, investors expect $AVAX to drop to $9.01 due to Avalanche’s current bearish momentum.

Litecoin ($LTC) struggles to break above $65

Although affected by the crash of September 2023, Litecoin’s ($LTC) network performance has been high. Likewise, Litecoin’s investor sentiment has risen steadily, giving $LTC enough momentum to start a recovery. 

$LTC was trading at $63.01 on September 1 after the market crash. It recovered by 4.7% to $66.00 on September 15. However, $LTC dropped by 3.6% to $63.58 on September 17.

The resilience of $LTC is probably due to Litecoin’s skyrocketing market performance. By August 27, Litecoin’s usage on Bitpay had surged by over 50%. Now, some analysts say Litecoin’s strong network performance could mean it’s finally becoming a worthy challenger to Bitcoin.

While Bitcoin remains the largest cryptocurrency, Litecoin’s reliability as a payment provider has increased in the past few months. As of September 18, $LTC was trading at $65.79. Yet, $LTC could rise to $72.35 following an increase in demand for Litecoin’s payment services.

Borroe.Finance: world’s first invoice Web3 discounting marketplace

The web 3.0 industry’s demand for instant funding is set to benefit from the upcoming launch of Borroe.Finance. Via a peer-to-peer ecosystem, Borroe.Finance helps companies find instant cash for their daily business needs. It leverages revenue financing to create a smooth, efficient fundraising marketplace that meets users’ needs quickly and cheaply. To buy $ROE tokens, click here.

Borroe.Finance ($ROE) asks companies to turn their future and outstanding revenue into fractionalized NFTs. These fractionalized NFTs act as collateral for taking loans. Once completed, these NFTs would be sold on Borroe.Finance’s marketplace. 

In addition, Borroe.Finance encourages the inclusion of discounts, which boosts the approval chances of each loan request.

The platform rewards buyers and sellers for staying active on its marketplace. There are also rewards for loan repayments. Borroe.Finance offers higher privacy and anonymity alongside a simplified fee structure. Furthermore, Borroe.Finance offers real-time invoice tracking.

Out of the current new ICOs, Borroe.Finance seems to be one of the fastest-growing low-cost, high-reward investment opportunities. The market is already opening up to the project, as over 90 million $ROE tokens have been sold. 

Now, $ROE is in Stage 1 of its presale and its current price is $0.0125. However, its earliest backers already enjoy a 25% ROI as it moved from its first price of $0.0100. By Stage 2 of $ROE’s presale, its value could rise to $0.0150. By then, $ROE’s earliest backers would have gained a 50% profit.

To learn more about Borroe.Finance ($ROE) Visit Borroe.Finance ($ROE) Presale | Join The Telegram Group | Follow Borroe on Twitter

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Google Cloud expands BigQuery to 11 new blockchains

  • Google Cloud’s BigQuery public datasets now include 11 new blockchains.
  • Polygon, Avalanche, Tron and Polkadot are among the new networks added to the program.

Google has enhanced its cloud computing unit’s blockchain data offering by expanding its ‘BigQuery’ program to 11 new blockchains.

In an announcement on Friday, Google Cloud said the 11 networks comprise of “the most in-demand blockchains” and add to the data sets for Bitcoin, Ethereum, Litecoin and Dogecoin among others.

Google Cloud’s BigQuery adds 11 new chains

Blockchains added to the BigQuery public datasets include Polygon, Tron, Polkadot, Avalanche, Arbitrum, and Ethereum (Görli). Others are Cronos, Fantom (Opera), Near, and Optimism.

According to Google Cloud, this expansion allows for scalable data processing, with developers able to retrieve on-chain data off-chain and without having to query the blockchain directly.

“We’re doing this because blockchain foundations, Web3 analytics firms, partners, developers, and customers tell us they want a more comprehensive view across the crypto landscape, and to be able to query more chains,” James Tromans, Google Cloud’s head of Web3 and Alberto Martin, director, Web3 product management, wrote.

Other than the eleven networks, Google is looking to improve the Bitcoin BigQuery dataset by adding Ordinals/Satoshis (sats). Ordinals exploded in popularity in 2023, contributing to the overall congestion of the Bitcoin network.

Google Cloud recently struck a strategic alliance with Zilliqa, joining the blockchain platform as a staked seed node operator. Earlier this month, interoperability protocol LayerZero tapped the cloud computing giant as its default messaging verifier.

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