This week saw several cryptocurrency trends catch Attention of investors and enthusiasts alike. from rise of altcoins to latest updates from major players in Industry. Here is my week market collar-up of master encryption events that ignited the crypto markets up.
Arbitrum surpasses Ethereum’s mainnet numbers
Layer 2 scaling solution, Arbitrum, has been making waves in encryption worldbypassing the Ethereum mainnet in terms of transaction size. arbitration network Breaking its highest level over 24 hours record for the number of transactions during the week.
It has surpassed Ethereum mainnet by an impressive margin of 1.05 million transactions, with a total of 1.14 million registered transactions.
On the other hand, optimism network It had about 180,000 transactions on same day. this is important achievement for arbitrum, designed To improve scalability and speed of Ethereum transactions.
Coinbase to launch Base network
In addition, Coinbase, one of The largest cryptocurrency exchange in the worldrevealed her intention to launch her base network. According to Will Robinson, Vice President of Coinbase of Base engineering network testnet launch for Ethereum layer 2 is underway.
Al-Qaeda network aims to provide a platform for individuals around the world to create decentralized applications or “dapps” on-Chain, which is safe and low-costAnd developer-friendly.
According to the plan, the network It will gradually become decentralized over time. Increasing decentralization process will work help ensure the network remains Safe and stable throughout the transition period.
Uniswap offers NFT purchases with ERC-20 tokens
Decentralized exchange (DEX) Uniswap made addresses again by submitting ability to purchase Non-Fungible Tokens (NFTs) using Any ERC-20 token. this move Significant, demonstrating the growing convergence between DeFi and NFTs.
Uniswap Labs envisages Permit2 and Universal Router to improve quality of their products or merchandise. The primary goals were to reduce gas fees, streamline user transaction processes, and improve security.
Uniswap is committed to providing public Commodities that offer cryptocurrency, and they are designed These contracts to be accessible developer community. Contracts include software development SDKs, comprehensive documentation, and a 2-week bug bounty program.
The Saudi Electricity Company continues with crypto campaigns
the past The week was a tumultuous period for The cryptocurrency industry, where prof series of Noteworthy, such as an increase regulatory actions and returns in the market.
Notably, the US Securities and Exchange Commission (SEC) has stepped up its efforts to regulate cryptocurrencies spacetargeting Paxos and Do Kwon.
its stable currencies also It was great use issue for Layer 1 blockchain, but its regulation is becoming a growing concern for Industry, with The SEC initiated a campaign. last regulatory Corpses are expected follow As such, central bank digital currencies (CBDCs) are left as the only currencies left option.
The Securities and Exchange Commission (SEC) continued its work regulatory procedures against crypto industry, with Ongoing enforcement actions against Many prominent companies. This has caused Some concern among investors, such as regulatory environment for Digital currencies remains Uncertain.
The Blur NFT market is on the rise in users
Blur NFT market is rapidly gaining popularity and attracted Great interest from NFT traders and investors. Although it is relative new newcomer in NFT spaceBlur quickly established itself as a big deal player It topped the charts consistently for NFT trading amount.
Blur, A.; new The NFT market has seen a boom in daily users, with over 20,000 people using platform daily. The platform is unique allows Users create and sell NFTs using various File types, including audio and video files.
NFT market Growing, with more And more people Shows his interest in investment in digital assets.
K resultthe competition Among the NFT markets are becoming increasingly intense. However, Blur managed to stand up out By presenting a unique And an innovative platform that has resonated well with NFT lovers.
Blur accounts for 46% of the total NFT Weekly trading big size achievement for market operating for Just a few months. In contrast, OpenSea, once the undisputed leader in NFT markethas fallen now behind and accounts for only 36% of the total weekly trading amount.
arrangement protocol managed bitcoin- NFTs and driving up blockchain value and development
Ordinals protocol introduced a novel use issue for Bitcoin blockchain by allowing users to encrypt references to digital art inside small transactions, therefore creating Non-fungible tokens on bitcoin. this development The value has increased significantly of Longest cryptocurrency chain.
according to research Report by Matrixport on Wed, introduction of Non-fungible tokens (NFTs) based on ordinal number caused 50% increase in the value of Stacks Network’s STX token. The report indicates that this development can bear drive STX towards becoming a billion-dollar token.
The ordinal is a file protocol that enables the storage of NFTs on The Bitcoin blockchain, the STX is native token of stacks network. The blockchain uses layer 2 security of the bitcoin blockchain to settle transactions.
are considered ordinal digital Artefacts because they are coined directly On the blockchain and you have permanent and immutable records on Distributed ledger. in contrast, traditional NFTs can be modified under a competent contract developers.
previously in In the week, a github user goes through the handle ynohtna92 made Leader achievement. They formed the bitcoin order protocol And I used it to create a file world’s first Litecoin ordinal. This is noteworthy and important development in field of digital currencies.
