Monat: September 2023

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Base blockchain’s DeFi TVL surges as Aerodrome inflows rise

  • Base is seeing strong inflows in its ecosystem as demand rises.

  • The total value locked (TVL) has surged to over $420 million.

  • Aerodrome has seen inflows in its ecosystem soar.

Base, the recently launched layer-2 network, is seeing strong traction even as the crypto winter continues. On-chain data shows that the amount of cash deposited in Base’s ecosystems has jumped.

Data by DeFi Llama shows that the total value locked (TVL) in its ecosystem surged to over $420 million, making it the 10th biggest chain in the world. It has become bigger than some of the oldest chains like Cronos, Kava, Klaytn, Cardano, Fantom, and Algorand.

Base has attracted over 100 DeFi applications. Aerodrome, the biggest dApp in its ecosystem, stands at over $121 million. The other important DeFi applications in the ecosystem are friend.tech, Compoind, Curve DEX, Stargate, and Beefy.

For starters, Base is a layer-2 network that makes it possible for developers to build decentralised applications (dApps). Developers are already building applications in all industries like gaming, social media, and infrastructure.

An Ethereum layer-2 network is one that supercharges the performance of applications. It is a sidechain that reduces transaction costs and boosts its speeds. Base is able to handle over 10,000 transactions per second (tps) at much lower costs. It competes with the likes of Optimism, Polygon, and Arbitrum.

The most recent Base news is that the developers launched Pessimism, an open-source monitoring system that enhances the security of Base by detecting and responding to threats.

The post Base blockchain’s DeFi TVL surges as Aerodrome inflows rise appeared first on CoinJournal.

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Toncoin breaks into the top 10 after adding 30% in one week

Key takeaways

  • Toncoin has overtaken Solana and Tron to become the 9th largest cryptocurrency by market cap.

  • Toncoin began to rally following Telegram’s endorsement of the TON project.

Toncoin is now one of the top 10 cryptos by market cap

TON, the native coin of the Toncoin blockchain, has become one of the top 10 cryptocurrencies by market cap.

The coin has added 30% to its value over the past seven days, outperforming the other major cryptocurrencies in the process. At press time, the price of Toncoin stands at $2.53, up by more than 4% in the last 24 hours.

The sustained rally comes a few days after the messaging platform Telegram endorsed the Toncoin project. At the time, Telegram’s chief investment officer, John Hyman, said,

“We are putting digital ownership rights in the hands of our entire user base. While also giving TON projects the tools to reach our audience in the largest Web3/Web2 partnership there has ever been.”

Telegram is set to integrate the TON network into the app’s user interface. With the integration, the TON Web3 wallet would be available to over 800 million Telegram users via their settings.

BTC and others experience a positive performance

Bitcoin and the other major cryptocurrencies have also recorded positive performance in recent days. At press time, the price of Bitcoin stands at $27,111, up by more than 4% over the last seven days.

Other major cryptocurrencies, including XRP, Solana, Tron, Polygon, Litecoin, Bitcoin Cash, and Chainlink, have added more than 4% to their values over the last few days.

The post Toncoin breaks into the top 10 after adding 30% in one week appeared first on CoinJournal.