Record network activity and a second NFT boom send WAX price higher
WAXP price appears to be gaining strength after the NFT-focused project introduced staking, yield farming and partnerships with companies that offer pop culture collectibles. Just a few days before Bitcoin (BTC) price plunged below $30,000, the NFT sector was dominating headlines for the second time in 2021, led by a month-long 972% surge in the price of Axie Infinity. Another NFT-focused protocol that has been gaining fundamental strength in recent months is Worldwide Asset eXchange, also known as WAX — a protocol that claims to “deliver the safest and most convenient way to create, buy,....
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As bitcoin set a new price high closer to $20,000 on Tuesday, the network also saw record-breaking user activity.
Layer 2 (L2) scaling solution Optimism reported a series of strong network metrics in the first quarter (Q1) 2024, with its native OP token surging 9% on the back of this bullish momentum. Optimism Sees Higher Activity And Rising Transaction Fees According to a recent Messari report, Optimism’s circulating market cap increased 11% quarter-over-quarter (QoQ) to $3.7 billion, while its fully diluted market cap rose 1% to $15.7 billion. Despite the broader crypto market rally, with Bitcoin (BTC) and Ethereum (ETH) gaining 69% and 53% QoQ, respectively, OP’s market cap ranking....
Though on-chain metrics point to the worst Bitcoin bear market on record, they also highlight hodlers' growing resilience. While the current bear market may be the worst on record, on-chain metrics signal that the Bitcoin (BTC) network is becoming increasingly resilient, said Glassnode analyst James Check during a recent interview with Cointelegraph. In particular, Check refers to the amount of Bitcoin holders who don’t sell even in extreme market conditions, which has become much higher than in previous bear markets. “Cycle after cycle, that floor of hodlers is higher, the amount of....
Activity on the Cardano network has been on the rise recently. This has come from a lot of developers moving to the network to launch their decentralized applications (DApps) on the blockchain. The rise in activity has also resulted in a direct surge in the price of its native digital asset, ADA. Cardano Volume Surges […]
On-chain Bitcoin activity surged during January, with more than 22.3 million addresses sending or receiving BTC last month. January was a record month for Bitcoin’s price and network activity, with more than 22.3 million unique addresses actively sending or receiving BTC over 31 days.The milestone was spotted by crypto market data aggregator Glassnode, who tweeted that January had seen the highest monthly number of unique active addresses in Bitcoin’s history:#Bitcoin network activity at ATH. In January, more than 22.3 million unique addresses were active in the network sending or....