At the time of publication, Bitcoin is trading at $51,879. Meanwhile, the second-largest cryptocurrency, Ethereum, has recorded a new all-time high today and is trading close to $2,435.
Let’s find out some interesting crypto news for today.
Ethereum Settled $1.5 Trillion in Transactions in Q1 2021 Amidst New All-Time High
The second-largest cryptocurrency, Ethereum, has settled over $1.5 trillion worth of transactions in the first quarter of 2021. As per Messari’s chart, if Ethereum continues at the same pace, then it can process over $6 trillion worth of transactions by this year’s end. Moreover, Ethereum is one of the most popular decentralized smart contract networks. However, its soaring gas fees are creating a roadblock for the exploding NFT and DeFi space. To solve these issues, the team has recently launched the Berlin Hard Fork with a forthcoming London Hard Fork in July of this year. Notably, one of the largest crypto exchanges, Coinbase, also launched ETH2 staking on its platform. With these announcements, the price of ETH recorded a new all-time high of $2,640, which amounts to over a 50% price surge in the last 30 days.
Blind Boxes Teams up With HashLip to Design Unique Art Pieces With BSC Low Gas Fees
Blind Boxes collaborated with HashLip to design unique pieces of programmable art. HashLips is a blockchain-based project that algorithmically creates innovative art and blends them to provide diversified traits. Blind Boxes is a highly scalable gamified curation platform and launchpad for NFTs. It also offers different revenue streams and incentivizes contributors of blind box collections. With this collaboration, HashLips would get access to the Binance Smart Chain (BSC) protocol, which will empower creators with lower gas fees and faster transaction speeds
PolkaFoundry | Raze Network Partnership to Boost DeFi dApps Security
PolkaFoundry partnered with Raze Network to bring privacy across its DeFi ecosystem. Raze Network is a substrate-based, cross-chain privacy protocol that secures trading systems and users’ assets. With this partnership, dApp builders would get access to a universal plug-and-play to easily safeguard the Polkadot ecosystem. Further, to boost security, the DeFi dApps operating on the Polkadot network will utilize an advanced encryption algorithm that provides an end-to-end privacy layer. In addition, Raze Network would provide an anonymous bridge to maintain user privacy across the Polkadot ecosystem.
IoTeX | Polygon Collaboration to Bridge IoTeX Tokens With Real-World NFTs
IoTeX collaborated with Polygon (Matic) to bridge IoTeX tokens with real-world NFTs. Polygon is a protocol that offers a framework to create and connect Ethereum-compatible blockchain networks. Collaboratively, the team will build a cross-chain bridge to enable IoTeX NFTs to be tradable on OpenSea. Moreover, OpenSea is a leading NFT marketplace that facilitates gasless transactions with Polygon integration. Besides this, IoTeX will utilize Polygon’s interoperability to interact IoT data and assets with Ethereum and other blockchain networks. Additionally, IoTeX fungible and non-fungible tokens will be integrated with Polygon. In turn, Polygon assets will be available on IoTeX’s mimo DEX for trading.
Injective Protocol Teams up With Klaytn to Entice Millions of Users Towards Decentralized Trading
In the last bit of crypto news for today, we have Injective Protocol partnering with Klaytn to empower users with decentralized trading. With this coalition, Injective users can utilize the Klaytn blockchain to design new derivatives markets with Klaytn-based assets. Klaytn is a public blockchain created by Ground X, which is a blockchain unit of the leading South Korean internet provider and messaging firm Kakao. In addition, Injective’s derivative markets will be available on Klaytn’s native wallet in the near future, which will boost Injective’s exchange volume. Last year, Injective launched the testnet for cross-chain derivatives DeFi protocols, which was backed by Binance. Impressively, this has raised $10 million in funding with participation from Pantera Capital, BlockTower, and more.
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