Market Wrap: Bitcoin Drops to $10.2K; Scaling Solution xDai Doubles in Value ...

PRESS RELEASE. In response to rising gas prices during the last weeks, DMEX has moved its trade processing to xDAI sidechain that allows for much cheaper transaction recording. Customer funds are still stored on an Ethereum smart contract, the trade recording, however, is now performed on xDAI. This change allows users to place orders as small as 100$ which was impossible until now, with minimum order requirements growing up to 200k$ during gas price spikes on Ethereum. The new structure allows for a flat minimum order value of 100$ independent of Ethereum gas prices. How does it work? The....

Despite executing 179,000 transactions during its first month of operation, the xDai-powered Perpetual Protocol spent just $183 on gas fees. Perpetual Protocol, a DeFi project offering decentralized perpetual contracts using the layer-two Ethereum scaling solution xDai, has emerged as the sixth-largest DEX by weekly trade volume after operating for only one month.Based on data from Dune Analytics shared by Perpetual Protocol, the DEX’s weekly trade volume of more than $299 million would rank the project above the likes of Synthetix, dYdX, and Kyber, and below Balancer.The milestone was....

Chainlink is rolling out support for xDai, a layer-two sidechain whose perceived centralization hasn’t stopped major DApp players. Chainlink (LINK) oracles have made their way to xDai, an Ethereum sidechain that has seen growing adoption among DApp developers who cannot afford to stay on the Ethereum mainnet. As announced by Chainlink on Thursday, its price feeds are live on the xDai mainnet, offering price data for an initial set of trading pairs including LINK/USD, AAVE/USD, DOT/USD and SUSHI/USD. More pairs can be quickly added if there is demand, the company said.The integration was....

Bitcoin’s price is gyrating Monday while ether targets the moon.

Bitcoin’s price hit a 2020 record as ether’s share of the market dips.