Indian crypto exchange WazirX is reversing all trades and restoring customer balances after the platform was hacked to the tune of hundreds of millions of dollars in July. In a new thread on the social media platform X, WazirX says that after listening to the community, it has decided to roll back all trades made […]
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Top US-based crypto exchange platform Coinbase is abruptly adding support for BLOCKLORDS (LRDS), the native token of a blockchain-based strategy game. In a new announcement on the social media platform X, Coinbase says LRDS will be added with an Experimental label, meaning the token is new to the platform or it has low trading volume […]
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The development team behind layer-2 scaling solution Polygon (MATIC) says they will be officially renaming the ecosystem’s native asset to POL after the network goes through a major upgrade later this year. In a new blog post, Polygon Labs says that starting on September 4th, MATIC will be replaced by POL as the blockchain’s native […]
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Ethereum network volumes have soared, but a single decentralized application accounted for 59.5% of the entire network’s volume.
The Ethereum network continues to lead in the adoption of decentralized applications (DApps) regarding volumes and deposits. Although competing chains like Solana and BNB Chain benefit from lower transaction fees, which boost metrics such as unique active addresses, nothing prevents well-funded entities from inflating Ethereum’s DApp volumes.
In fact, the recent surge in activity on the Ethereum network stands apart from broader cryptocurrency market trends and even contradicts other usage metrics. While it’s impossible to confirm any manipulation, one should be aware that even with a substantial $2.4 transaction fee, figures can be distorted, particularly in decentralized finance (DeFi) applications, where deposits can exceed $1 billion.
It’s noteworthy that Ethereum was the only network among the top 20 to report an increase in volume, marking an impressive 83% growth compared to the previous week. For perspective, similar protocols such as BNB Chain, Polygon, Solana and TON experienced an average volume decrease of over 30%. Moreover, Ethereum’s 475,980 addresses pale in comparison to BNB Chain’s 1.18 million and Solana’s 1.62 million.
Polygon has announced a $1 billion Community Grants Program, set to roll out over the next ten years, aimed at supporting developers on its platform. This initiative promises to allocate about $100 million annually to fund innovative projects that enhance the Polygon and Ethereum ecosystems. Polygon Community Treasury to Release $1B in Grants Over the […]
One widely followed crypto analyst thinks three leading altcoins are soon to enter bullish phases. Crypto trader Ali Martinez tells his 62,900 followers on the social media platform X that the decentralized supply chain management platform VeChain (VET) is on the verge of lift-off after a successful retest of a parallel channel. “Like in the previous bull […]
The post Injective (INJ), Polygon (MATIC) and One Additional Ethereum-Based Altcoin Flashing Bullish Signals: Analyst appeared first on The Daily Hodl.
A widely followed crypto strategist is warning that Chainlink (LINK) may be on the verge of a massive correction. Pseudonymous analyst Credible tells his 394,500 followers on the social media platform X that the native asset of the leading decentralized oracle network appears to have printed a mid-cycle top. According to the analyst, a deep […]
The post Analyst Issues Chainlink Warning, Says 55% Correction for LINK Natural and Healthy Following 4X Rise appeared first on The Daily Hodl.
Smart contract platform Solana (SOL) is moving to the top of CoinGecko’s list of fastest blockchains. In a new publication, CoinGecko says Solana is a staggering 46 times faster than its rival Ethereum (ETH), the second-largest digital asset by market cap, making it the fastest large blockchain on the market. However, CoinGecko says that Solana […]
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One widely followed crypto analyst is warning Ethereum (ETH) traders that an ETH exchange-traded fund (ETF) approval from the U.S. Securities and Exchanges Commission (SEC) is unlikely to happen soon. Crypto trader Michaël van de Poppe tells his 715,800 followers on the social media platform X that traders may have to wait a little longer for an ETH ETF. […]
The post Here’s Why One Crypto Analyst Doesn’t Think an Ethereum ETF Will Get Approval Despite ‘Altcoin Bull Market’ appeared first on The Daily Hodl.
A prominent layer-2 scaling solution for the meme asset Dogecoin (DOGE) is announcing that it is going to be shutting down its wallet services next month. In a new thread on the social media platform X, Mishaboar, one of Dogecoin’s developers, tells investors to make sure they move their DOGE out of the Dogechain wallet […]
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