According to BlockBeats, Messari's report on BNB Chain's third-quarter performance highlights significant developments, including the introduction of the 'Gas-Free Carnival.' This initiative aims to enhance user experience and ecosystem adoption by enabling free stablecoin transfers. The report outlines several key metrics that underscore BNB Chain's growth during this period. One of the notable achievements for BNB Chain in Q3 was a 2% increase in the total value locked (TVL) in decentralized finance (DeFi), reaching $4.85 billion. This growth indicates a steady interest and investment in DeFi projects within the BNB Chain ecosystem. Additionally, the non-fungible token (NFT) sector experienced a substantial surge, with daily transaction volumes rising by 283%. This increase reflects a growing engagement and activity in the NFT market on the BNB Chain.Furthermore, the report highlights a 7% rise in the amount of BNB staked, totaling 32.4 million BNB. This increase in staking activity suggests a heightened confidence and participation from the community in supporting the network's security and operations. Overall, these developments demonstrate BNB Chain's ongoing efforts to expand its ecosystem and enhance user engagement through strategic initiatives and improvements.

Rekt Drinks, the parent company of the Rekt NFT project, has announced on November 8 that they have completed a seed round of financing worth US$1.5 million. This round was funded entirely by angel investors and the community, with no VC participation. The Rekt brand originated from the Rektguy NFT series by artist Ovie Faruq (OSF) and has since expanded to include consumer goods and community rights models.

Rekt’s goal is to redefine brand ownership and engagement through its Web3 foundation, innovative products, and global community. Cointelegraph has more information on this story.

Source

<p>The post Rekt Drinks Raises 15M Seed Round for NFT Brand Expansion first appeared on CoinBuzzFeed.</p>

Crypto whales have dominated NFT trading activity on the BNB Chain during Q3 2024, despite a decrease in retail participation.

According to Messari’s latest quarterly report, the average daily NFT trading volume skyrocketed by 283% quarter-over-quarter. It has reached $600,400 from Q2’s $156,900.

Daily NFT sales on BNB Chain show positive momentum

The substantial increase in trading volume presents an interesting contrast to user participation metrics. Even though daily trading volumes saw decent growth, the average daily number of unique buyers decreased by 53% to 2,300 users. This divergence suggests that whales were the primary drivers of market activity rather than retail participants.

Source: Messari

Daily NFT sales showed positive momentum, increasing by 47% quarter-over-quarter to reach 8,900 transactions. This growth in transaction count, coupled with fewer unique buyers, further reinforces the observation that individual traders were executing larger and more frequent transactions.

BNB Chain experiences moderate pressure in Q3

BNB Chain’s native token experienced moderate pressure during Q3. Its market capitalization declined 4% quarter-over-quarter to $82.79 billion. BNB also lost its position as the fourth largest cryptocurrency by market cap, as Solana surged to $200. Network revenue faced more challenges, with total fees collected decreasing 28% quarter-over-quarter from $48.4 million to $34.9 million.

When measured in BNB tokens, revenue declined 22% from 81,300 BNB to 63,500 BNB in Q3. DeFi-related transactions saw their share decrease by 6% to represent 16% of total revenue. Conversely, wallet-to-wallet transactions gained ground, with revenue increasing 53% quarter-over-quarter to 8,800 BNB.

DeFi ecosystem remained resilient in Q3

BNB Chain’s DeFi ecosystem demonstrated resilience in Q3. The total value locked (TVL) increased slightly by 2% to reach $4.85 billion.

Venus Finance emerged as a standout performer within the ecosystem, increasing its TVL by 13% quarter-over-quarter to $1.79 billion. By the end of Q3, Venus Finance commanded 37% of BNB Chain’s total TVL, up from 34% in the previous quarter. However, the protocol saw a 36% decrease in borrows from $707 million to $454 million.

PancakeSwap, the second-largest protocol by TVL, experienced a modest 5% decline to $1.64 billion. The protocol’s TVL composition at quarter-end showed AMM V3 accounting for 23% of total value, while the traditional AMM represented 73%.

Combined, Venus Finance and PancakeSwap dominated the ecosystem, representing 71% of BNB Chain’s total TVL.

BNB Chain underwent technical upgrades in Q3

BNB Chain underwent major technical upgrades during Q3. It also implemented several crucial hard forks and improvements.

The Bohr Hardfork, implemented on September 25, introduced four key BEPs (BNB Evolution Proposals) that enhanced validator operations and block header functionality. The network’s security metrics remained strong, with 45 active validators maintaining network stability following the Feynman Upgrade.

Total BNB staked increased by 7% quarter-over-quarter to 32.4 million tokens, equivalent to $18.3 billion. The ecosystem’s growth was further supported by various development initiatives. This includes the TVL Incentive Program’s Phase 4, which allocated $300,000 in rewards across liquid staking and DeFi categories.

The network also launched the Gas-Free Carnival initiative, eliminating transfer fees for stablecoin transactions to boost adoption. “The Q3 data demonstrates BNB Chain’s ability to attract and retain significant capital despite market headwinds,” noted Messari in their report.

Crypto whales significantly boosted NFT trading activity on the BNB Chain during the third quarter of 2024. Messari’s latest quarterly report highlights a 283% quarter-over-quarter increase in average daily trading volume, which soared from $156,900 in Q2 to $600,400 in Q3. 

Despite this growth, retail participation saw a sharp decline, pointing to larger trades driven by smaller market participants.

Rising NFT trading volume contrasts with declining buyer numbers

The report reveals that while NFT trading volumes on the BNB Chain experienced remarkable growth, the number of unique daily buyers decreased significantly. The average daily buyer count dropped by 53% to 2,300 users during the quarter. However, daily NFT sales rose by 47% to 8,900 transactions. This divergence suggests that whales executed more frequent and higher-value trades, driving activity despite lower retail involvement.

BNB chain faces market pressures amid DeFi resilience

Source: Messari

The BNB Chain experienced moderate challenges during Q3, with its native token’s market capitalization falling 4% quarter-over-quarter to $82.79 billion. BNB also ceded its position as the fourth-largest cryptocurrency to Solana. Network revenue dropped 28% in USD, from $48.4 million in Q2 to $34.9 million in Q3. Revenue measured in BNB tokens decreased by 22%, and DeFi transactions accounted for a smaller share of total activity, representing 16% of income.

On the positive side, the DeFi ecosystem remained stable, with the total value locked (TVL) increasing by 2% to $4.85 billion. Venus Finance led the sector’s growth, boosting its TVL by 13% to $1.79 billion, while PancakeSwap, the second-largest protocol, saw a slight 5% decline to $1.64 billion. The two protocols accounted for 71% of the chain’s total TVL.

Technical upgrades strengthen BNB Chain’s ecosystem

BNB Chain implemented critical technical upgrades in Q3, including the Bohr Hardfork, which introduced enhancements to validator operations and block functionality. Security metrics remained strong, with 45 active validators maintaining network stability after the Feynman Upgrade. The total BNB staked increased by 7% to 32.4 million tokens, valued at $18.3 billion.

Additional initiatives such as the Gas-Free Carnival, which eliminated stablecoin transfer fees, and the continuation of the TVL Incentive Program helped bolster adoption and activity on the chain. Despite market challenges, these upgrades and programs underscore BNB Chain’s ability to attract and retain significant capital in a competitive environment.

The post Crypto Whales Drive NFT Activity on BNB Chain with 283% Growth in Q3 first appeared on Coinfea.

In Q3, BNB Chain witnessed renewed NFT trading activity, primarily from whale investors. Messari says NFT trading volumes hit a 283% increase over the previous quarter, averaging daily transactions at $600,400. While the number of participants fell, average daily sales increased by 47pc to 8,900 transactions, which is pointed out as a growing interest in BNB Chain’s NFT market.

In particular, NFT trading volumes rose, as did sales, but daily active buyers fell 53% to 2,300. This decline illuminates the influence of a group of a few whales (high-value investors) that dominated the market. Whales were a major contributor to the growth of the NFT market on the BNB Chain, unlike smaller users, who had fewer buyers.

NFT Trading Volume on BNB Chain Trails Ethereum

Although the trading activity on BNB Chain increased, its Q3 NFT trading volume, estimated to be $55.2 million, is significantly behind some of the largest blockchains. Over the past 30 days, Ethereum took the lead by accumulating $120.7 million, and Bitcoin recorded $74.6 million. CryptoSlam data also showed that NFT trading volumes on Solana, Mythos Chain, Polygon, and Immutable were higher than BNB Chain in the same period.

While NFT market share, unlike volume, is shared between leading blockchains, BNB Chain’s lower volume underscores it as a distant second. Yet, BNB Chain is one of the top blockchains, in fourth place for total value locked (TVL) behind Ethereum, Solana, and Tron. Binance Smart Chain’s NFT trading volume is still relevant, but this ranking shows how BNB Chain isn’t far behind as competitors catch up.

Mixed Performance Across BNB Chain Metrics 

BNB Chain saw a 27.9% dip in revenue, which fell to $34.9 million in Q3, brought on mostly by lower gas fees. This decreased gas fees for decentralized finance (DeFi) transactions by 27% compared to the previous quarter. The drop in BNB Chain’s average daily active addresses lags a further 19%, down to 900,000, and daily transaction dips 8.1%.

 

Despite these drops, the total value locked on the BNB Chain rose by 2.2% to $4.8 billion. Venus Finance’s TVL growth helped propel it to this 13% growth rate to $1.79 billion. If anything, these increases in TVL indicate a continued focus on DeFi activity on the BNB Chain despite an uptick of users and a decline in fee revenue.

Quick Tokenization Service Boosts BNB Chain Utility

The BNB Chain also recently launched a real-world asset tokenization service, which powers the functionality even more for users and businesses. Unlike any existing services requiring months of development and engineering, this service offers a no-code solution to quickly and efficiently tokenize physical assets in minutes. The goal is to reduce the cost, time, and labour involved while cutting down entry barriers for many users by reducing tokenizing assets’ costs.

 

The Binance team members say this service is meant to provide blockchain asset support to those interested in using blockchain asset management but don’t currently have the means. This tokenization feature allows BNB Chain to add NFT and DeFi and expand to have more use cases in digital assets. BNB Chain’s commitment to supporting innovative blockchain solutions and user-friendly tools dovetails with the platform’s broad usage for transacting with Tether and interacting with PancakeSwap.

 

Q3 was a strong period for BNB Chain because of strong whale-driven NFT activity and higher TVL but at the expense of revenues, user activity, and transaction volume. Unlike Ethereum and the flagship Bitcoin, there is significant trading on the BNB Chain for DeFi and NFT markets despite trailing major blockchains regarding the volume traded. Rather than holding its own on the blockchain, it is extending its offer, with the launch of its new tokenization service, to create a blockchain that supports many diverse applications beyond just traditional crypto transactions.

Stay tuned to TheBITJournal and keep an eye on Crypto’s updates. Follow us on Twitter and LinkedIn, and join our Telegram channel to be instantly informed about breaking news!

NFT sales on BNB Chain went up by 283% in Q3 because of large buyers, while

average daily customers went down more than 50%, as mentioned by Messari.

Source

<p>The post BNB Chain NFT Trading Volume Skyrockets 283 in Q3 Whales Boost Market first appeared on CoinBuzzFeed.</p>

The crypto market has roared again after Donald Trump was re-elected as the 47th United States President, with the flagship crypto “Bitcoin” reaching a new all-time high of +$75,000 and Ethereum pumping above the $2,900 level. The global non-fungible token market has also significantly surged amid the recent crypto rally. Below, we have listed some of the top-selling NFTs today.

🚨BREAKING: My Friend Donald Trump has won the 2024 Election.

If you voted for Trump to make The Next 4 Years Great Again, GIVE ME A THUMBS-UP👍!!

Show Your loyalty for US !!🇺🇲 pic.twitter.com/nQ9yV68s4Q

— Elon Musk – Parody (@elonmuskADO) November 6, 2024

NFT Sales Pump +20% In The Past 24 Hours

Data compiled by CryptoSlam.io, an on-chain crypto market aggregator and non-fungible token explorer backed by crypto billionaire Mark Cuban, shows that the NFT market has recorded positive growth today. In the past 24 hours, the NFT market has recorded a trading sales volume of $16 million, up 20% from the previous day. This remarkable surge may be attributed to Donald Trump’s recent victory. Earlier this week, Trump overturned Kamala Harris to become the 47th US President.

During this period, the NFTs created on the Bitcoin, Ethereum, and Solana blockchain networks have exploded in trading sales volume. In the past 24 hours, the Bitcoin NFTs have amassed a sales volume of $5.2 million, up 28% from the previous day. Ethereum NFTs have recorded a trading sale volume of $4.5 million, while Solana NFTs have garnered a sales volume of $2.4 million, up over 28% from the previous day. Below, we have listed five top-selling NFTs in the past 24 hours.

1. $?? BRC-20 NFT Collection

The $??, a non-fungible token collection exclusively created on the Bitcoin blockchain network using the BRC-20 protocol, is this week’s most-selling NFT collection in the global NFT market. In the past 24 hours, the $?? BRC-20 NFT collection has recorded a trading sales volume of $2.4 million. During this period, the $?? BRC-20 NFT trading sales volume has surged 80% from the previous day.

2. DMarket NFT Collection

DMarket, a non-fungible token collection from the virtual asset market platform DMarket hosted on the Mythos Chain blockchain network, is the second most-selling NFT collection in the NFT market this week. In the past 24 hours, the DMarket NFT collection has raised a trading sales volume of $485,325. During this period, the DMarket NFT sales volume has plunged 35% from the previous day.

3. Guild of Guardians NFT Collection

Guild of Guardians, a non-fungible token collection created on the Immutable network by Guild of Guardians, a multiplayer fantasy role-playing game in which players create their dream team of Guardians and compete in guilds to earn rewards, is this week’s third top-selling NFT series in the NFT market. In the past 24 hours, the Guild of Guardians NFT collection has amassed a sales volume of $455,138, up 6.40% from the past day.

4. Bored Ape Yacht Club NFT Collection

Bored Ape Yacht Club, a non-fungible token collection from the digital asset firm Yuga Labs that features a limited edition of 10,000 NFTs hosted on the Ethereum blockchain network, is this week’s fourth most-selling NFT collection in the NFT market. In the past 24 hours, the NFT collection has attracted a trading sales volume of $415,215. During this period, the Bored Ape Yacht Club NFT trading sales volume surged 88.56% from the past day.

5. Bitcoin Puppets NFT Collection

Bitcoin Puppets, an ordinal collection featuring a limited edition of 10,001 NFTs created on the Bitcoin blockchain network, is this week’s fifth top-selling NFT collection in the NFT market. In the past 24 hours, the Bitcoin Puppets NFT collection has raised a trading sales volume of $382,351. During this time, the Bitcoin Puppets NFT collection has plunged 13.34% in sales volume from the past day.

Related NFT News:

Lamborghini & Animoca Brands Set To Launch Their Revuelto NFT Collection Today, November 7

Trump NFTs Jump +900% In Sales After Donald Trump Elected As 47th US President

OpenSea Teases Plan To Launch A New NFT Platform Next Month

Luxury carmaker Automobili Lamborghini has teamed up with Transak, a crypto on-ramp platform, for their upcoming non-fungible token (NFT) minting event. Scheduled for Nov. 7, users will have the opportunity to create their Revuelto NFTs as part of Lamborghini's collaboration with Web3 gaming company Animoca Brands. These NFTs will enable players to drive digital Lamborghinis in various games developed by Motorverse, a project by Animoca Brands focusing on digital vehicles. Transak will serve as the 'NFT Checkout' partner for this initiative, offering secure payment options such as card payments and bank transfers. Despite a recent data breach, Transak assures users of the platform's safety for payment transfers. This move by Lamborghini into the NFT space comes amidst a downturn in the Web3 digital collectibles market, with NFT sales volume in October reaching $356 million, a significant drop from the peak in March 2024. Read more AI-generated news on: https://app.chaingpt.org/news

Luxury carmaker Automobili Lamborghini has teamed up with Transak, a crypto on-ramp platform, for their upcoming non-fungible token (NFT) minting event. Scheduled for Nov. 7, users will have the opportunity to create their Revuelto NFTs as part of Lamborghini's collaboration with Web3 gaming company Animoca Brands. These NFTs will enable players to drive digital Lamborghinis in various games developed by Motorverse, a project by Animoca Brands focusing on digital vehicles. Transak will serve as the 'NFT Checkout' partner for this initiative, offering secure payment options such as card payments and bank transfers. Despite a recent data breach, Transak assures users of the platform's safety for payment transfers. This move by Lamborghini into the NFT space comes amidst a downturn in the Web3 digital collectibles market, with NFT sales volume in October reaching $356 million, a significant drop from the peak in March 2024. Read more AI-generated news on: https://app.chaingpt.org/news

Some other networks to witness significant gains in trading volume in the same period of time are Solana, Mythos Chain, Polygon and Immutable.

The activity shown by NFT in third quarter shows that it is not driven by small customers but mainly by maket whales.

The gains of BNB Chain has shown a negative trend and slipped to $34.9 million by showing a 27.9% quarter-on-quarter fall. 

Third quarter has come with glad tidings for Non-fungible tokens (NFTs) as its trading volume over the BNB chain has surged and witnessed a significant surge of 283%, as reported by Messari. The increase has lead the daily average of about $600,400. 

Not only this, but the daily sales average has also skyrocketed about 47% quarter-on-quarter and is currently standing at about 8,900. At the same time, the report released on November 7 mentions that the average daily buyers were depressed about 53% quarter-on-quarter and stood to 2,300. 

What’s the position of other networks? 

The activity shown by NFT in third quarter shows that it is not driven by small customers but mainly by maket whales. An NFT industry data aggregator reported that the NFT trading volume over BNB chain accounts for $55.2 million. However, it is still lower as compared to the largest cryptocurrencies. Talking about the trading volume, Ethereum network stands for $120.7 million and Bitcoin network stands for $74.6 million in the past one month. 

Some other networks to witness significant gains in trading volume in the same period of time are Solana, Mythos Chain, Polygon and Immutable. The gains of BNB Chain has shown a negative trend and slipped to $34.9 million by showing a 27.9% quarter-on-quarter fall. 

Apart from this, the daily active address of BNB chain also slipped to 900,000 by showing a 19% fall. A fall of 8.1% was recorded for average daily transactions. In third quarter, the total value locked over the platform went up about 2.2% and stood to $4.8 billion. 

In the abovementioned growth, Venus Finance, a financial service provider has contributed the most by rising around 13% and estimating the value to $1.79 billion. In the same quarter, burning of the tokens were done more than minting. This event has resulted in 4.5% deflation rate and 2.5% increase of price amid regression of broader market. 

A dig into BNB chain 

As per the data collected by DefiLlama, BNB Chain brags the fourth largest TVL in between layer-1 blockchains, following Ethereum, Solana and Tron. 

At the same time, BNB Chain has revealed a new real-world asset tokenization service thaat offers various users and businesses a no-code solution for tokenization of real-world assets in not more than minutes in the beginning of this week. 

The developers of this solution says that the mechanism mainly cuts the cost, time as well as labor which is requires to tokenize the assets. It also makes less obstacles for everyone making an entry to this world. 

Innovative Startups in the Crypto Industry: Transforming Digital Finance

The crypto industry has seen an explosion of innovation in recent years, with startups at the forefront of this transformative wave. These startups are not only changing the way people think about finance but are also revolutionizing technology in ways that may redefine entire industries. The rise of blockchain, DeFi, NFTs, and Web3 technologies has opened doors to countless new possibilities. With venture capital pouring into the sector, crypto startups are well-equipped to drive the next generation of financial services and technology applications.

In this article, we’ll explore the most promising startups in the crypto industry, focusing on their groundbreaking ideas, the challenges they face, and the potential impact they might have on our world.

 

The Surge of Innovative Startups in the Crypto Industry

Crypto startups are characterized by their adaptability, willingness to embrace risk, and dedication to innovation. They are creating solutions that address current limitations in the finance sector and expanding the horizons of what blockchain technology can achieve. As decentralized finance (DeFi) platforms grow, new startups are emerging to fill the gaps in infrastructure, accessibility, and user experience.

The Role of Blockchain Technology in Shaping Startups

At the core of most crypto startups lies blockchain technology. This decentralized ledger system allows for secure, transparent, and tamper-proof transactions, providing a solid foundation for various applications. From creating new forms of currency to securing supply chains, blockchain is helping startups revolutionize industries beyond just finance.

Decentralized Finance (DeFi): Changing the Game

DeFi has taken the financial world by storm, with startups developing platforms that eliminate the need for traditional intermediaries like banks. By providing decentralized lending, borrowing, and trading services, DeFi startups are making financial services more accessible and affordable, especially for the underbanked populations globally. This decentralized approach promises transparency, speed, and lower fees, drawing an increasing number of users to the DeFi space.

Key Players in the DeFi Space

Some of the most innovative startups in DeFi include:

Aave: Aave provides decentralized lending and borrowing, allowing users to lend their digital assets and earn interest without traditional banks.

Uniswap: One of the most well-known decentralized exchanges (DEX), Uniswap enables peer-to-peer trading of Ethereum-based tokens.

Compound: Similar to Aave, Compound allows users to lend and borrow assets and earn interest through smart contracts.

These companies are paving the way for a new financial ecosystem where users have complete control over their assets without relying on traditional banks or financial institutions.

 

Crypto Startups and the NFT Revolution

NFTs (non-fungible tokens) have introduced a new way to own and trade digital assets. These unique digital items, secured by blockchain, range from art and music to real estate and gaming items. Startups in the NFT space are exploring how this technology can benefit creators and collectors alike.

Leading NFT Startups Making an Impact

OpenSea: As one of the largest marketplaces for NFTs, OpenSea enables users to buy, sell, and trade digital collectibles.

Rarible: A decentralized platform where users can create, sell, and collect digital items. Rarible’s focus on community-driven governance sets it apart in the NFT space.

Foundation: This marketplace focuses on artist empowerment, giving creators a platform to monetize their digital creations and build a loyal following.

These startups are defining the future of digital ownership, supporting creators, and building a new economy around digital assets.

 

Web3 and Its Potential for Startups

Web3, also known as the decentralized web, is an internet movement powered by blockchain technology. By enabling peer-to-peer interactions without intermediaries, Web3 gives control back to users over their data and online experiences. Web3 startups are leveraging this technology to create decentralized applications (dApps) that enhance user privacy and autonomy.

Noteworthy Web3 Startups Leading the Change

Brave: A privacy-focused web browser that blocks unwanted ads and trackers. Users can earn cryptocurrency tokens, called BAT, by opting into ads.

Filecoin: A decentralized storage network that enables users to rent out unused storage space and earn rewards, thus offering an alternative to centralized cloud services.

Arweave: Known for its “permaweb,” Arweave allows users to store data permanently on a decentralized, secure network.

These companies illustrate the possibilities of a more open, user-controlled internet and have the potential to redefine online data security and privacy.

 

The Role of Venture Capital in Fueling Crypto Startups

Venture capital (VC) investment in crypto startups has skyrocketed in recent years, with funds pouring into every area of blockchain technology, from DeFi to NFTs and Web3 applications. VC firms are particularly attracted to the potential for high returns as the market for crypto solutions expands globally. Startups often rely on VC to provide the financial support needed to bring their ambitious ideas to life, enabling rapid growth and scalability.

Major Venture Capital Firms Supporting Crypto Innovation

Andreessen Horowitz (a16z): One of the earliest and most prominent investors in the crypto space, a16z has supported various blockchain projects across DeFi, NFTs, and Web3.

Sequoia Capital: This firm has also invested significantly in the crypto sector, recognizing the potential of blockchain to reshape global industries.

Polychain Capital: Focused exclusively on crypto assets, Polychain Capital is a key player in supporting innovative startups in the industry.

These VC firms are not only providing financial resources but also lending credibility and expertise, helping startups gain visibility and traction in an increasingly competitive market.

 

The Challenges Faced by Crypto Startups

While crypto startups present exciting opportunities, they also face numerous challenges. Regulatory uncertainty is one of the most significant obstacles, as governments worldwide attempt to balance innovation with concerns about fraud, security, and financial stability. Additionally, crypto startups often deal with technical challenges, particularly in achieving scalability and ensuring security against hacks and breaches.

Regulatory Hurdles and the Need for Clear Policies

Inconsistent regulations can make it difficult for startups to operate across different jurisdictions. Many governments have yet to develop comprehensive guidelines on crypto operations, and the constantly evolving nature of the crypto space complicates matters further. Startups in the crypto industry often need to navigate these regulatory landscapes carefully to avoid penalties and ensure compliance.

 

Emerging Trends in the Crypto Startup Ecosystem

With rapid advancements in technology, several trends are beginning to shape the future of crypto startups. These include the rise of Layer-2 solutions for enhanced scalability, integration of artificial intelligence, and development of environmentally sustainable blockchain solutions.

Layer-2 Solutions for Faster Transactions

Layer-2 solutions like Polygon are gaining traction as they help alleviate congestion on major blockchains like Ethereum, allowing for faster and more affordable transactions. These innovations are crucial for crypto startups focused on mass adoption, as they provide a better user experience.

Sustainability in Blockchain

With growing concerns over the environmental impact of blockchain technology, especially in energy-intensive networks like Bitcoin, many startups are exploring sustainable solutions. Eco-friendly initiatives such as Proof of Stake (PoS) mechanisms, which consume significantly less energy than traditional Proof of Work (PoW) methods, are being adopted by many new startups in the industry.

 

The Future of Crypto Startups: Opportunities and Outlook

The crypto industry continues to evolve, with startups playing a significant role in shaping its future. As the landscape matures, the industry is likely to experience increased collaboration with traditional financial institutions and technology companies. With more regulatory clarity and technological advancements, crypto startups could have a profound impact on a wide range of industries, including finance, healthcare, supply chain, and more.

 

Conclusion: A Bright Future for Crypto Startups

The rise of innovative startups in the crypto industry underscores the potential for blockchain to revolutionize our world. From decentralizing finance to redefining digital ownership and privacy, crypto startups are leading a technological revolution that promises to impact countless aspects of daily life. These startups are not only transforming the financial sector but are also pushing the boundaries of what’s possible in technology and creating a more accessible, secure, and inclusive digital ecosystem. As we look to the future, the continued growth and innovation of crypto startups seem inevitable.

To learn more about the innovative startups shaping the future of the crypto industry, explore our article on latest news, where we delve into the most promising ventures and their potential to disrupt traditional industries.

Non-fungible tokens trading volumes on the BNB Chain experienced a significant increase in the third quarter, rising by 283% to a daily average of $600,400, as reported by blockchain analytics firm Messari. The average daily sales also saw a 47% increase quarter-on-quarter to 8,900. However, the average daily number of buyers decreased by 53% to 2,300, indicating that Q3 NFT activity was driven by larger investors rather than smaller users. Despite the growth, BNB Chain's $55.2 million NFT trading volume in Q3 still lags behind Ethereum and Bitcoin networks. Other metrics like revenue, active addresses, and daily transactions showed mixed results. The total value locked on the BNB Chain increased, with more BNB tokens burned than minted, leading to a deflation rate and price rise. The BNB Chain remains popular for transacting with USDT and using PancakeSwap, with plans for real-world asset tokenization services. Read more AI-generated news on: https://app.chaingpt.org/news

Open-source block explorer Blockscout introduced the Merits Program, designed to make blockchain exploration more accessible and engaging. This program rewards users who develop key skills in navigating blockchain networks.

“Block explorers are essential tools in anyone’s daily DeFi routine, yet many users find them intimidating,” said Igor Barinov, Founder and CEO of Blockscout, in a written statement. “By gamifying the learning process, we’re making blockchain exploration more approachable while recognizing our community’s contributions to open-source infrastructure,” he added.

The Blockscout Merits Program introduces a gamified approach to learning and utilizing block explorer tools, which are essential for participants in the decentralized finance (DeFi) ecosystem. Through this program, users can earn Merits and collect non-fungible token (NFT) badges by completing various tasks, ranging from basic blockchain navigation to more advanced smart contract interactions.

The program debuts with several key features, such as daily engagement rewards, educational quests and campaigns, a community referral system, and collectible NFT badges featuring Blockscout’s Capybara mascot. Future updates will include rewards for frequent explorer usage and special promotional campaigns in collaboration with Web3 ecosystem partners.

Each NFT badge, which comes in four rarity levels, represents distinct achievements within the Blockscout ecosystem. These badges act as both collectibles and indicators of proficiency in blockchain exploration.

Merits Program: Boosting Blockchain Literacy And Community Engagement

Blockscout’s Merits Program highlights the company’s dedication to fostering a transparent, accessible, and community-focused blockchain ecosystem. In the future, the program may grow to offer exclusive features and additional benefits for active participants. Influenced by traditional scouting programs, the “Merits” concept rewards individuals for acquiring and mastering a range of skills.

“Just as scouts learn wilderness navigation and survival skills, ‘Block Scouts’ master the tools needed to navigate the blockchain landscape,” explained Igor Barinov. “Each Merit earned represents a step toward blockchain literacy, making users more confident and capable in their Web3 journey,” he added.

By reimagining block explorer users as “Block Scouts,” the program recognizes individuals who skillfully navigate the blockchain ecosystem and contribute to, as well as benefit from, open-source infrastructure. This concept is reflected in the program’s NFT badges, which depict Blockscout’s Capybara mascot in various blockchain scouting-themed scenarios.

Blockscout to Further Expand Its Ecosystem Amid Fast Growth 

Blockscout is the leading open-source block explorer for all Ethereum Virtual Machine (EVM)-based blockchains. With coverage across 1,000+ networks, it serves as a powerful tool for searching blocks, transactions, tokens, accounts, and addresses. Developer tools include smart contract verification, read/write capabilities, and access to a suite of optimized APIs.

The launch of the Merits Program comes at a time of notable growth for Blockscout. As the preferred solution for Rollup-as-a-Service providers like Alchemy, Altlayer, Caldera, Conduit, and Gelato, Blockscout continues to expand its presence within the ecosystem.

Recent integrations include major Superchain networks such as Uniswap’s Unichain, Kraken’s Ink Chain, Worldcoin’s World Chain, and Sony’s Soneium. This expansion follows Blockscout’s successful $3M seed round in August 2024, led by 1kx, with participation from Primitive Ventures and GnosisVC, further solidifying its position as the top open-source block explorer offering advanced analytics and multi-search capabilities across more than 1,000 networks.

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Non-fungible tokens trading volumes on the BNB Chain experienced a significant increase in the third quarter, rising by 283% to a daily average of $600,400, as reported by blockchain analytics firm Messari. The average daily sales also saw a 47% increase quarter-on-quarter to 8,900. However, the average daily number of buyers decreased by 53% to 2,300, indicating that Q3 NFT activity was driven by larger investors rather than smaller users. Despite the growth, BNB Chain's $55.2 million NFT trading volume in Q3 still lags behind Ethereum and Bitcoin networks. Other metrics like revenue, active addresses, and daily transactions showed mixed results. The total value locked on the BNB Chain increased, with more BNB tokens burned than minted, leading to a deflation rate and price rise. The BNB Chain remains popular for transacting with USDT and using PancakeSwap, with plans for real-world asset tokenization services. Read more AI-generated news on: https://app.chaingpt.org/news