A surprise listing from Binance has triggered a big rally for a crypto project focused on helping funds flow from one blockchain to another. The exchange has added Synapse (SYN) to its Innovation Zone, which is a dedicated trading space for crypto assets that could be prone to increased volatility. Immediately after the listing, SYN […]
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An analyst who nailed the end of Bitcoin’s (BTC) 2021 bull market thinks that one low-cap altcoin could ignite rallies amid a flurry of bullish catalysts. Pseudonymous analyst Pentoshi tells his 674,900 Twitter followers that he’s accumulating Synapse (SYN), a protocol that aims to enable secure cross-chain communication. According to Pentoshi, the project will likely […]
The post Top Trader Predicts Massive Rallies for Under-the-Radar Altcoin Amid Crypto Correction – Here Are His Targets appeared first on The Daily Hodl.
A closely followed crypto strategist believes payments network XRP is likely ready to rally while seeing more upside potential for Bitcoin (BTC) and one under-the-radar altcoin. Pseudonymous analyst Cantering Clark tells his 159,200 Twitter followers that it’s “almost time” for XRP to burst to the upside. “XRP looks really good.” Looking at the analyst’s chart, […]
The post Top Analyst Forecasts Imminent XRP Surge, Says Bitcoin and One Low-Cap Altcoin Set To Rally appeared first on The Daily Hodl.
Top US-based crypto exchange platform Coinbase is expanding its suite of digital assets by adding custody support for over a dozen of Ethereum (ETH)-based altcoins. Coinbase says it’s adding 14 new cryptocurrencies to the growing roster of virtual currencies in its Coinbase Custody cold storage trust. Coinbase Custody, which launched in July 2018, is a […]
The post Exchange Giant Coinbase Adds Custody Support for 14 Ethereum (ETH)-Based Altcoins, Spurring Rallies Up to 20% appeared first on The Daily Hodl.
A trio of digital assets are leading the charge as the cryptocurrency markets rebound from a rough week of trading with the overall market cap increasing by more than 10% in a day. First up is Optimism (OP), a layer-2 scaling solution for Ethereum (ETH) that seeks to reward participants for making contributions to the […]
The post Three Ethereum Altcoin Projects Explode 54% or More in Just 24 Hours As Bitcoin and Crypto Markets Pop appeared first on The Daily Hodl.
“We’re nearing the end of a chapter and the beginning of the next — one driven by community ownership and governance,” noted Optimism.
The native token prices from multiple projects that employ Ethereum Layer 2 scaling solution Optimism have spiked around 20% amid rumors that the network will soon launch a token and airdrop it to the community.
Optimism is a Layer 2 scaling solution that utilizes Optimistic rollups to process a high amount of transactions off the Ethereum blockchain. The project touts that it can operate smart contracts 5 to 500X cheaper than Ethereum's Layer 1.
According to DeFiLlama, the platform currently accounts for $496.47 million worth of total value locked (TVL) from 30 different projects that use it to scale such as Synthetix (SNX), UniSwap (UNI), Stargate Finance (STG) and Perpetual Protocol to name a few.
The rumors of a possible token distribution to users of the related projects started to swirl on Twitter earlier today after Optimism published a blog post titled “A New Chapter” which recapped the project’s performance since its launch early last year, along with outlining its plans moving forward.
The team highlighted notable milestones over the past 12 months such as $17.4 billion worth of transaction volume, $24.5 million worth of revenue and saving $1.1 billion worth of gas fees.
Optimism's story so far, by the numbers:
— ✨ Optimism.io/amsterdam (@optimismPBC) April 19, 2022
Saved $1.1B in gas fees
On-boarded 300k unique addresses
Secured $900M of value
Facilitated $17.4B in TX volume
Generated $24.5M in revenue
A new chapter is near.
Let’s take a minute to reflect on the path so far.
While Optimism didn’t directly state anything about launching or airdropping a native token, onlookers highlighted the last section of the post which outlines a new stage of development that will be driven by the community:
“The network has grown by leaps and bounds, and it’s only getting better by the day. Our baby has learned to walk, and it’s nearly time to run. We’re nearing the end of a chapter and the beginning of the next––one driven by community ownership and governance.”
Commenting on the wording of the post, self-described “master airdrop hunter” “OlimpioCrypto” suggested to their 7,164 Twitter followers that SNX might be the token to keep an eye on for potential airdrops, as Synthetix was the first protocol to start working with Optimism.
“Team at Optimism started working with Synthetix before any other protocol. $SNX holders, there might be a treat for you. Keeping tokens staked might be the play,” they wrote.
A similar account in “defi_airdrops” also pointed to other popular projects on Optimism such as Hop Protocol, Lyra Finance and the Polynomial Protocol.
Rumours that a L2 is launching a token imminently.
— DeFi Airdrops (@defi_airdrops) April 13, 2022
Is it @optimismPBC ?
When in doubt go bridge into Optimism now and support the best projects
- LP in @HopProtocol
- LP in @lyrafinance
- Stake $SNX
- Trade @kwenta_io
- Deposit in @PolynomialFi https://t.co/UaXpIAr58A
Related: Ethereum Merge a ‘few months after’ June: Dev clears up what’s going on
While not all of the tokens related to Optimism are pumping, over the 24 hours SNX, Lyra Finance (LYRA) and Synapse (SYN) have all seen substantial increases in value.
According to data from Coingecko, SYN is up 26.2% to sit at $3.37, SNX is up 21.5% to $6.18 and LYRA has gained 18.4% to reach $0.24.
Looking back at DeFi Llama, Synthetix — which is the largest platform on Optimism — has seen its TVL gain 13.4% over the past 24 hours to top roughly $203.3 million, suggesting that so investors may be rushing to stake SNX in anticipation of an announcement from Optimism.
Looks like whales heard about the imminent @optimismPBC governance smth being released, and what better way to join the fun than @synthetix_io ecosystem fam! pic.twitter.com/ILLMBZFI1u
— Danijel (@veryHighLander) April 19, 2022
A widely-followed analyst who accurately predicted the Bitcoin (BTC) low point in the second half of 2018 is detailing bullish prospects for two crypto assets. Pseudonymous crypto analyst Smart Contracter tells his 206,200 Twitter followers that he has purchased Dogecoin (DOGE) following a slight correction and a surge in buying volume. Dogecoin is on an […]
The post Crypto Analyst Who Nailed 2018 Bitcoin (BTC) Bottom Bullish on Dogecoin (DOGE) and One Additional Altcoin appeared first on The Daily Hodl.
Top US crypto exchange Coinbase is launching full retail support for a quartet of low-cap altcoins. Aioz Network (AIOZ), Golem (GLM), Highstreet (HIGH) and Synapse (SYN) are now live on Coinbase.com and the exchange’s mobile apps, according to a new tweet from the company. Coinbase Pro listed the four assets earlier this week along with […]
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A long-time crypto trader known as Flood is showing support for an altcoin that helps bridge the gap between different types of blockchain projects. Flood tells his 194,400 Twitter followers that there are several reasons why he thinks trustless automated market maker Synapse (SYN) has the potential to make insane gains over the next two […]
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