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Descending channel breakout + solid support = potential upward rally! 📈 The $0.45 - $0.50 USDT support zone has proven its strength, with price bouncing multiple times and showing signs of accumulation after the breakout. Sentiment is shifting, and this could be your opportunity to catch the next move! 💥
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Grand Cayman, Cayman Islands, February 5th, 2024, Chainwire

After Sui’s TVL surged more than 1500% over the last five months of 2023, its TVL has more than doubled since the start of 2024

Sui, one of the fastest-growing Layer 1 blockchains, continued its impressive DeFi growth, surpassing $500M in Total Value Locked (TVL) and solidifying itself in the top 10 of DeFi ecosystems. 

Alongside this torrid ascent of TVL, on-chain activity has exploded as well. Weekly DeFi volume is up 63 percent over the previous period, standing at $745M and placing it in the top 5 most active ecosystems in the past week. Sui’s continued climb demonstrates how its underlying technology is vital in empowering developers to create products that solve real-world challenges and the drive behind top projects expanding into its ecosystem. 

Over the past couple of weeks, Sui has announced several partnerships and expansions with industry-leading builders. Most recently, Sui announced that Ondo Finance—the third-largest organization in the real-world asset DeFi sector—is bringing its treasury-backed tokens, tokenized securities, and real-world assets into its ecosystem, as the Sui ecosystem is set to get its first native stablecoin. 

Sui also recently announced that Banxa, a leading payments infrastructure provider for the crypto-compatible economy, will add the SUI token to its platform. Also recently announced, a partnership with Oracle Stork provides builders with faster pricing data, offering real-time pricing data across Sui’s ecosystem of developers, DEXs, and lending protocols building on Sui’s blockchain.

“The fact that Sui now stands amongst the top ecosystems in crypto is a testament to Sui’s technology being able to attract top-tier developers and leading projects,” said Greg Siourounis, Managing Director of the Sui Foundation. “The recent partnership and expansion announcements, along with the surging metrics, point to Sui having true staying power. Sui is paving the way for widespread adoption and offers endless possibilities for innovation.” 

Sui’s object-centric model, horizontal scalability, and Move Language position it to host the most scalable solutions that have emerged from the blockchain industry to date. Its rapidly rising TVL results from multiple Sui-based protocols and applications leveraging Sui’s strengths. 

Sui also saw two ecosystem protocols break $100M TVL for the first time in the network’s history. Navi Protocol now stands at over $114M TVL (up 184% over the last 30 days), while Scallop Lend has surged to over $116M TVL (up 258% over the last 30 days). Cetus ($72M), Aftermath Finance ($58M), and FlowX Finance ($49M) round out the top five projects as measured by TVL.

Contact

Sui Foundationmedia@sui.io

The post Sui’s Astounding DeFi Growth Continues into 2024 as TVL Breaks the $500M Barrier appeared first on Crypto News Land.

Google Cloud, the cloud computing division of the tech giant Google, has recently announced its new role in the blockchain industry by joining the Flare network. As part of this collaboration, Google Cloud will act as both a validator and a contributor to the Flare Time Series Oracle (FTSO). This move marks a significant step in blockchain technology’s integration with mainstream tech companies.

Flare, known for its distinctive approach as “the blockchain for data,” enables developers to access decentralized data through its Oracle system. In the blockchain world, an Oracle serves as a bridge that connects blockchain networks to external systems, allowing smart contracts to be executed based on real-world data.

Impact on the Flare network

The addition of Google Cloud as a validator brings a new level of credibility and technical prowess to the Flare network. Validators play a crucial role in blockchain networks by proposing and validating new blocks, which are essential in maintaining the integrity and security of the network. Google’s involvement is expected to contribute to the network’s stability and reliability significantly.

Furthermore, Google Cloud’s participation in the FTSO is anticipated to enrich the Flare ecosystem with high-quality, decentralized data. This data is vital for developers building applications that leverage blockchain technology, thereby driving its wider adoption. The partnership is a testament to major tech companies like Google’s ongoing commitment to exploring and integrating blockchain technologies.

A catalyst for market dynamics and future developments

The announcement of this partnership had an immediate positive impact on Flare’s native token, FLR, which saw a price increase of over 4%. This response from the market underscores the significance of such collaborations in the cryptocurrency world. With a market cap nearing $550 million and a current price of approximately $0.0189 at the time of press.

This partnership is a milestone for Flare and sets a precedent in the blockchain industry. It highlights the increasing interest of established tech giants in the blockchain space and their willingness to contribute to its growth. As more companies like Google enter the blockchain arena, the industry will likely witness accelerated innovation and adoption.

#Ethereum #Dencun #Blockchain #Layer2 #Ethereum #Dencun #Blockchain #Layer2 #CryptoNews
The Dencun upgrade on the Ethereum blockchain, scheduled for Wednesday, is set to bring about significant changes in how transaction fees are handled, particularly benefiting layer-2 networks. With layer-2 networks such as Arbitrum, Optimism, and Polygon becoming increasingly popular for their ability to scale Ethereum by bundling transactions and settling them in batches on the main chain, the need for cheaper and more efficient fee structures has become apparent.

The introduction of "proto-danksharding" is a pivotal aspect of the Dencun upgrade, aiming to improve the blockchain's ability to handle data from layer-2 networks. This technique allows for more efficient storage of transaction data onto Ethereum through the use of "blobs," dedicated spaces within the blockchain. By enabling layer-2 networks to utilize this blobspace, the upgrade aims to reduce transaction fees and improve scalability.

The significance of this upgrade extends beyond just reducing fees for layer-2 networks. It also paves the way for further advancements in blockchain technology, particularly in the realm of sharding. While a fully-formed version of sharding is still years away, proto-danksharding serves as Ethereum's first step towards implementing this technique to process more transactions efficiently.

Moreover, the Dencun upgrade is expected to benefit not only layer-2 networks but also a new class of blockchains known as data availability (DA) layers. These layers, including Celestia, EigenDA, and Avail, play a crucial role in storing large amounts of data for layer-2 networks. By making the costs of downloading DA data cheaper, proto-danksharding further enhances the efficiency of these networks.

Looking ahead, Ethereum developers are already planning for the next upgrade, Electra + Prague (Petra). While the specific features of this upgrade have yet to be finalized, improvements such as "Verkle Trees," aimed at enhancing data storage capabilities, are being considered. This continual focus on scalability underscores Ethereum's commitment to providing a robust and efficient blockchain platform for developers and users alike.

In conclusion, the Dencun upgrade represents a significant milestone in Ethereum's ongoing efforts to improve scalability and reduce transaction costs. By introducing innovative solutions like proto-danksharding, Ethereum is poised to remain at the forefront of blockchain technology, enabling new possibilities for decentralized applications and networks.$ETH $BTC

Wishing you had bought Ethereum at $20? Ethereum’s meteoric rise has since made it a pillar of the cryptocurrency world, with its wide use for decentralized apps and smart contracts suggesting those low prices are a thing of the past. Yet, as the world of crypto continues to evolve, the spotlight is moving towards BlastUP (BLP), currently priced at just $0.055. Drawing parallels with Ethereum’s early days, analysts predict that BlastUP is poised for impressive growth, possibly setting the stage for the next big revolution in the cryptocurrency sector.

BlastUP’s Presale Shatters Expectations, Raising Over $2.5M in Record Time

BlastUP is leading the charge as a dynamic launchpad on the Blast blockchain, renowned for its impressive Layer 2 capabilities that include unique native yields — 4% for ETH and a solid 5% for stablecoins. This innovative edge has quickly helped Blast to amass an impressive $1 billion in total locked value (TLV) in just a month. The excitement didn’t stop there; the launch of the Blast Mainnet catapulted it into the top 10 projects based on TLV.

Echoing Blast’s rapid ascent, BlastUP too has captured the market’s imagination, breezing past the $2.5 million milestone in its presale and stirring up significant buzz among investors.

BlastUP, adhering to its mantra of “grow faster and earn more,” distinguishes itself with a straightforward and transparent approach, positioning it as the go-to platform for blockchain startups seeking seamless market entry. The platform’s rising appeal among investors highlights their confidence in its potential to draw millions of users and achieve significant success. The pre-listing phase is a compelling investment opportunity in BlastUP tokens (BLP), as they are poised to rise in value post-listing. So, buying BLP tokens at this stage would be a wise move.

Don’t miss out! Buy BlastUP tokens NOW to secure the highest profits!

BlastUP Strengthens Its Position Within the Blast Ecosystem

As an integral component of the Blast ecosystem, BlastUP plays a pivotal role in fostering collective progress and prosperity. In a significant move, BlastUP has established key partnerships with other entities within the Blast network, such as Blast Alpha and Blastopedia, in conjunction with the much-anticipated launch of the Blast Mainnet.

These strategic alliances highlight BlastUP’s contribution to community growth and underscore its commitment to enriching user experiences through exciting contests and collaborations. By joining forces with these partners, BlastUP not only reinforces its dedication to the ecosystem’s development but also enhances its own visibility within the community.

Enhanced Advantages for Early BlastUP Token (BLP) Purchasers

Investors buying BlastUP tokens during the presale phase get exclusive early access to benefits, such as eligibility for an Airdrop event that awards complimentary $BLP tokens. The scope of BlastUP token utility is extensive, providing holders with:

– Access to tiered Initial DEX Offerings (IDOs)

– Attractive staking rewards

– A buyback scheme powered by earnings from project launches

In addition to these benefits, $BLP holders receive Booster Points, an innovative token initiative by BlastUP designed to empower its community. These Booster Points are integral to the Community Incentives Program (CIP), aimed at establishing a robust foundation for project launches and ensuring their success in the marketplace.

Empowering Startups: The Core of BlastUP’s Endeavor

BlastUP is committed to driving the success of blockchain startups. The platform has crafted the Launchpad Accelerator that equips emerging projects with comprehensive documentation and refined tokenomics, thus smoothing their path to successful capital raising.

BlastUP places a high premium on security, employing rigorous Project Screening to ensure only the most credible projects are onboarded. This staunch commitment to due diligence safeguards the ecosystem’s integrity and cements BlastUP’s reputation as a trusted hub for secure and sustainable project growth.

With an eye on the future, BlastUP is gearing up to revolutionize how startups launch within the Blast network, leveraging cutting-edge AI and Web3 technologies. Its 2026 strategic vision includes groundbreaking developments like an AI-enhanced IDO screener, bespoke tools tailored for AI-assisted startup teams, and the roll-out of an interactive Community Marketplace. Such forward-thinking initiatives highlight BlastUP’s relentless pursuit of innovation and its ambition to drive the blockchain frontier forward.

Final Thoughts

BlastUP’s debut marks a big step forward for DApp development in the Blast ecosystem. The project is all about building a strong community and making sure their token holds its value in the long run. Notably, BlastUP is off to a great start, raising over $2,500,000 in just a month! There is a lot of excitement building around BlastUP, making it feel like a hidden gem in the world of altcoins right now.

Site: Blastup

Twitter: https://twitter.com/Blastup_io

Discord: https://discord.gg/5Kc3nDhqVW

Telegram: https://t.me/blastup_io

Grand Cayman, Cayman Islands, February 5th, 2024, Chainwire

After Sui’s TVL surged more than 1500% over the last five months of 2023, its TVL has more than doubled since the start of 2024

Sui, one of the fastest-growing Layer 1 blockchains, continued its impressive DeFi growth, surpassing $500M in Total Value Locked (TVL) and solidifying itself in the top 10 of DeFi ecosystems. 

Alongside this torrid ascent of TVL, on-chain activity has exploded as well. Weekly DeFi volume is up 63 percent over the previous period, standing at $745M and placing it in the top 5 most active ecosystems in the past week. Sui’s continued climb demonstrates how its underlying technology is vital in empowering developers to create products that solve real-world challenges and the drive behind top projects expanding into its ecosystem. 

Over the past couple of weeks, Sui has announced several partnerships and expansions with industry-leading builders. Most recently, Sui announced that Ondo Finance—the third-largest organization in the real-world asset DeFi sector—is bringing its treasury-backed tokens, tokenized securities, and real-world assets into its ecosystem, as the Sui ecosystem is set to get its first native stablecoin. 

Sui also recently announced that Banxa, a leading payments infrastructure provider for the crypto-compatible economy, will add the SUI token to its platform. Also recently announced, a partnership with Oracle Stork provides builders with faster pricing data, offering real-time pricing data across Sui’s ecosystem of developers, DEXs, and lending protocols building on Sui’s blockchain.

“The fact that Sui now stands amongst the top ecosystems in crypto is a testament to Sui’s technology being able to attract top-tier developers and leading projects,” said Greg Siourounis, Managing Director of the Sui Foundation. “The recent partnership and expansion announcements, along with the surging metrics, point to Sui having true staying power. Sui is paving the way for widespread adoption and offers endless possibilities for innovation.” 

Sui’s object-centric model, horizontal scalability, and Move Language position it to host the most scalable solutions that have emerged from the blockchain industry to date. Its rapidly rising TVL results from multiple Sui-based protocols and applications leveraging Sui’s strengths. 

Sui also saw two ecosystem protocols break $100M TVL for the first time in the network’s history. Navi Protocol now stands at over $114M TVL (up 184% over the last 30 days), while Scallop Lend has surged to over $116M TVL (up 258% over the last 30 days). Cetus ($72M), Aftermath Finance ($58M), and FlowX Finance ($49M) round out the top five projects as measured by TVL.

Contact

Sui Foundationmedia@sui.io

The post Sui’s Astounding DeFi Growth Continues into 2024 as TVL Breaks the $500M Barrier appeared first on Metaverse Post.

Decentralized finance firm Sushi plans to launch a decentralized derivatives platform called Susa on Layer N, an Ethereum Layer 2 that aims to incorporate certain elements of centralization for decentralized platforms. Susa will allow developers to build custom applications on top of the exchange, ranging from smart contract applications to full-fledged rollups. The platform will utilize Layer N's Nord Engine to facilitate thousands of transactions in less than a millisecond, with the goal of matching the performance of centralized exchanges. Sushi's Head Chef Jared Grey expressed excitement about partnering with Layer N, stating that the collaboration will produce superior products that align with the evolving modular network strategy in the DeFi space. Layer N is a network of rollup nodes that share a communication and liquidity layer, and its mainnet is set to launch this month. The platform secured $5 million in seed funding, co-led by Founder's Fund, in September 2023. Read more AI-generated news on: https://app.chaingpt.org/news

BNB Chain, powered by the BNB token, has introduced a rollup service solution for creating layer-2 blockchains on its network. The rollup-as-a-service (RaaS) offering, announced on March 14, aims to assist projects in constructing layer-2 networks on BNB Chain. This service provides the necessary tech infrastructure for deploying layer-2 networks, enhancing the ecosystem. BNB Chain's RaaS supports decentralized applications, enabling various project verticals like blockchain gaming and decentralized finance to operate on these networks. Additionally, the platform offers rollup management assistance and a code-free deployment option for non-coders. The layer-2 networks established through BNB Chain's RaaS will be based on the BNB Smart Chain (BSC), serving as the foundational layer-1 blockchain and governance chain. This initiative aligns with BNB Chain's objective of promoting Web3 technology adoption, following the successful deployment of the opBNB layer-2 scaling solution on the mainnet. Read more AI-generated news on: https://app.chaingpt.org/news

After integrating with Quickswap, Layer 3 blockchain Orbs has announced that their Liquidity Hub has extended to include Polygon zkEVM. With this change, traders using Quickswap will have access to liquidity obtained via Polygon zkEVM.Onchain traders will benefit from deeper liquidity thanks to the integration of Orbs Liquidity Hub with Quickswap, which will enable them to complete swaps with less slippage. In addition, the Liquidity Hub will provide a simplified user interface, protection against Maximal Extractable Value (MEV), decreased transaction costs, and gas-free transaction executions for Polygon zkEVM users.The Liquidity Hub gives DEXs access to CEX-level liquidity by providing a blend of off-chain and on-chain liquidity sources, making for the best possible user experience. The Liquidity Hub, developed by layer 3 blockchain Orbs, is completely decentralized and composable. Because of this, it may be integrated into networks and protocols used by other parties.Perched atop the AMM it is connected with, the Liquidity Hub functions as layer 3 infrastructure. Users are no longer limited by the liquidity that a certain DEX can provide as a consequence. Third-party solvers that compete to fill swaps utilizing onchain liquidity, such as AMM pools or their own private inventory, are among the new liquidity sources added by The Hub.The goal of Orbs Liquidity Hub is to negotiate the best price. The transaction will revert to the AMM contract and proceed normally if the Hub is unable to complete the deal at a lower price than the AMM. The end user, who can be guaranteed of getting the best deal inside the familiar user interface of the AMM, is the one who is abstracted from this process.Orbs Liquidity Hub’s integration with Quickswap on Polygon zkEVM comes after Quickswap on Polygon and THENA on BNB Chain’s respective integrations. For EVM networks, the Liquidity Hub offers essential infrastructure that enables liquidity to be promptly channeled where it is required, improving user experience and cost.

The Dencun upgrade went live on Ethereum on March 13. 

Fees for using L2 networks dipped significantly.

There are at least 40 rollups on Ethereum, and 35 are currently under development.

The Dencun upgrade went live on the Ethereum network on March 13, which resulted in a significant drop in the fees required to use L2 networks like Arbitrum, Optimism, zkSync, and Coinbase’s Base. 

As per the data from l2fees.info, a website capable of tracking the network fees of using L2 networks, the cost of using Optimism dropped to less than $0.01, that of using StarkNet stands at $0.05, and that of Polygon zkEVM is $0.39. Additionally, the fees for Arbitrum One currently amount to $0.40. 

The data from L2BEAT shows that there are 40 rollups on Ethereum, while at least 35 are currently under development. Jack Gorman, a data scientist at the VC firm Variant Fund, showed that these L2s have witnessed twice as many transactions as Ethereum itself over the past year.

Notably, using the Ethereum Layer 1 network is considered expensive, and as per the co-creator of the blockchain, Vitalik Buterin, the Dencun upgrade is expected to reduce the transaction fee significantly. 

With the Dencun upgrade, Layer 2 tokens such as Arbitrum (ARB), Optimism (OP), Lido DAO (LDO), and Metis (METIS) saw increased interest from investors. It is widely believed that the cost of using L2 networks will drop tenfold once the upgrade is fully adopted across networks.

It is important to note that QCP Capital, a crypto asset trading firm, predicted that the price of Ethereum (ETH) could fall in the near future despite the Dencun upgrade. The firm noted that ETH’s risk reversals turned negative for upcoming expiries, which suggests that investors are more worried about prices dropping. 

The post After the Dencun Upgrade, L2 Network Fees Have Dropped! appeared first on Coin Edition.