TronWeekly

Crypto World News

You are here: Home / Archives for avalanche

avalanche

Avalanche ‘securitizes’ leading digital asset firm

by

Cryptocurrencies, including blockchains like Avalanche, have done well in recent years and are attracting interest on a global scale. It’s impossible to predict with certainty what will happen to the cryptocurrency industry in 2023 and beyond, though. The significant barrier to its widespread adoption may be the extreme volatility and abrupt price fluctuations. Due to the rapid fluctuations in cryptocurrency pricing, you may instantly become a millionaire or lose all of your money.

Another example of how volatile the current crypto market is comes from the latest crypto market crash. Nearly all cryptocurrencies had a 50% value decline, however, not everyone is certain that the crypto collapse will be over by 2022. Cryptocurrencies in the pre-sale stage appear to be the ideal investment during this bad market. Crypto aficionados have never given up on the crypto-verse despite such frivolity. Securitize, the top company in the field of digital assets is one of these benevolent followers.

KKR to be tokenized on Avalanche blockchain

The $491 billion Health Care Strategic Growth Fund II (HCSG II) of asset management business KKR will be tokenized on the Avalanche blockchain by digital asset company Securitize Capital. On September 13, KKR announced the information. The head of Securitize Capital, Wilfred Daye, called the tokenization of HCSG II a “significant breakthrough” for private equity market access.

A $4 billion healthcare-focused fund that invests in 23 North American and European businesses involved in the pharmaceuticals, medical device, and life sciences industries can now be owned by investors thanks to tokenization. Each token represents a part of the fund.

Investors must submit their passports, complete personal and tax information forms, and successfully complete a “liveness check” in order to invest in the HCSG II Fund on the Securitize protocol. Additionally, investors must pay a management charge of 0.50 percent.

The tokenization of the HCSG II Fund, according to Ava Labs’ founder and CEO Emin Gün Sirer, represents a “major milestone” for the blockchain sector by allowing “real world assets” to migrate on-chain.

Screenshot 173
Source: Twitter

On-chain tokenization of physical assets “reduces investment minimums, enhances digital investor onboarding and compliance standards, and raises possibilities for liquidity through a regulated alternative trading system,” according to KKR.
The Blockchain Research Hub of the Boston Consultant Group (BCG) and Raiffeisen Bank International has also highlighted the potential for tokenization to seize a significant portion of global assets.

While Raiffeisen Bank International’s Blockchain Research Hub estimated that the majority of securities will be tokenized by 2030, BCG predicted that $16.1 trillion in illiquid assets will be tokenized by that time.

The Securitize protocol is run by Securitize Capital and aims to “reinvent private capital markets by delivering trustworthy end-to-end security token solutions.” It was integrated onto the Avalanche blockchain in December 2020.

At the time of writing, Avalanche (AVAX) was priced at $19.29 with a daily plunge of 9.5% according to Coin Gecko.

Avalanche flash loan attack leads to loss of $371k in USDC

by

In the wee hours of Tuesday, a flash loan attack was carried out using the Avalanche network. A specific smart contract as well as a number of liquidity providers were the targets of the attack. According to blockchain cybersecurity company CertiK, the attacker made $370,000 in gains.

A flash loan attack is a misuse of a platform’s smart contract security in which an attacker typically borrows large sums of money without putting up any security. Then, they engage in arbitrage trading to profit.

In order to do this, they manipulate the price of a cryptocurrency asset on one market before selling it again almost immediately on another. Attackers normally follow the method precisely and promptly, repeating it several times before finishing.

According to CertiK, three possible protocols may have been harmed in the most recent Avalanche breach. The same applied to the DEX platform Trader Joe, the staking platform Nereus Finance, and the AMM Curve Finance.

Notably, CertiK’s on-chain security programme Skynet detected the attack, which took place on Tuesday at 7:26 p.m. UTC.

In recent years, a number of crypto heists have involved flash loans. For instance, the Ethereum-based system Beanstalk was compromised in April and approximately $180 million was stolen. The attacker(s) apparently obtained a flash loan using the lending marketplace Aave, allowing them to stockpile a sizable quantity of Stalk, Beanstalk’s native governance token. The attacker(s) were able to swiftly pass a fraudulent governance proposal that syphoned off all protocol funds into a personal Ethereum wallet thanks to the voting power provided by these Stalk tokens.

However, as shown below, the amount of money taken without using flash loans (in purple) increased in August, demonstrating that DeFi criminals do not always take the same path used by the Avalanche/Beanstalk hackers.

Screenshot 162
Source: The Block

Avalanche’s DeFi efficiency

Avalanche has not been doing well on the DeFi front. For instance, the total value of assets locked on its platform has been declining over the past six months and was only $1.7 billion at the time of publication, reflecting a 4.1% daily loss.

Furthermore, competing protocols like Solana have been able to post superior figures even on the revenue front. The Web3 analyst for Aurum Crypto recently used Twitter to highlight the aforementioned pattern. Solana had earned about $50,000 every day in fees over the previous three months. The figure for Avalanche, on the other hand, was in the $25–$30k range.

With being stated, it should be mentioned that Solana spends more on security. In other words, there is a large disparity between the cost and profitability of the two procedures. The expert tweeted, “Calling out the same,”

Crypto Winter? Turn Up The Heat With Adirize DAO, Avalanche, and Chainlink

by

Screenshot 20220906 153104 01
Crypto Winter? Turn Up The Heat With Adirize DAO, Avalanche, and Chainlink 5

The crypto market is declining- terribly. Even Bitcoin (BTC), the fabled inflation hedge, has found itself percentages lower than analysts initially presented. This has spelled the crypto winter, and many investors are hurrying to sell before they lose everything. 

Experts predict that between the current collapse, ongoing liquidity crises, and other factors, cryptocurrency prices will likely remain low for the rest of the year. Sounds like bad news? Well, yes. 

Nevertheless, we still have cryptos that have taken the heat and used it to keep prices stable. If prices are relatively stable while the cold is turned up, the high chances are they will skyrocket once the market gets better. Even better, there is AdirizeDAO (ADI) not waiting for the market before it brings the heat and pushes the token price to the sky. 

Screenshot 20220906 153118 01
Crypto Winter? Turn Up The Heat With Adirize DAO, Avalanche, and Chainlink 6

AdirizeDAO (ADI) Is Bringing The Heat 

AdirizeDAO (ADI) is a token with long-term financial opportunities for investors, using a reserved algorithm based on self-reliance. This ensures that while ADI is subject to open market conditions, the assets that back the token provide stable value. 

The main advantage AdirizeDAO (ADI) has over crypto assets that are plummeting is its free-floating reserve money backed by a basket of assets. While other projects depend on users for liquidity provision or rent, AdirizeDAO (ADI) owns its liquidity. 

How Does the AdirizeDAO (ADI) Protocol Operate?

Operating a self-sufficient protocol that manages liquidity and treasury, is almost equivalent to the unshakable value that gold holds. Instead of targeting only appreciation, Adirize DAO (ADI) focuses on supply expansion to boost its purchasing power. 

It uses two monetary policytools; bonding and staking. Staking as a long-term strategy will keep ADI from the hands of price volatility. Stakeholders will also benefit from higher incentives, encouraging other individuals to become holders. 

Bonding is how the protocol accumulates value, and users can sell liquidity provider (LP) tokens in exchange for discounted ADI tokens in order to bond. 

Unlike other projects in the DeFi space, needing to borrow liquidity, AdirizeDAO (ADI) owns and controls its LP. It removes the obligation to “pay” external providers, directing all funds to holders instead. 

Furthermore, AdirizeDAO (ADI) is a decentralized autonomous organization. With operational duties and control shared among forum members, every user has an equal opportunity. Working in tandem to make the protocol better will no doubt benefit everyone. 

AdirizeDAO Presale Benefits 

Of the 100 million tokens minted for AdirizeDAO (ADI), 40% have been delegated for public presale. The first stage of presale recorded a high turnout, and the second is live. This means there is only so much time before the price of ADI zooms. 

For presale, you get 5% on every purchase you make, irrespective of what crypto you use to buy. If you buy within 25 minutes of signing up, you’ll get 45% on your total ADI tokens. 

For your second purchase, there’s a 55% bonus. There are more on the website for early contributors and holders. 

How to Buy AdirizeDAO (ADI) Tokens

Seasoned crypto users know that buying a token involves getting a digital wallet. If you don’t have one, then getting MetaMask is your safest bet. 

Then, you’ll need to choose a cryptocurrency converted to ADI. The options are listed out once you get to the presale section of the website. 

Connect your wallet to the presale section, and select how many ADI tokens you intend to purchase. Once done, you can go ahead with buying. 

Cardano (ADA)- The Third Generation Blockchain For Scalability 

Launched in 2017, Cardano (ADA) started the wave of third-generation blockchains with smart contract functionality and scalable solutions. Cardano (ADA) uses a competing proof-of-stake protocol to validate transactions.  

The blockchain uses ADA to authorize transactional activities, power the network, and vote on changes. 

However, Cardano (ADA) differs from other chains as the first blockchain to be founded on “peer-reviewed research and developed through evidence-based methods. It was designed to be adaptive, flexible, and sustainable, in addition to its scalable advantage. 

Additionally, Cardano (ADA) is one of the most developer-friendly blockchains. It allows the building of diverse projects. dApps, NFTs, and blockchain games are some features running on the network. 

How Does Cardano (ADA) Work?  

The Cardano blockchain is made of two layers; 

The Cardano Settlement Layer (CSL)-

CSL is the value ledger for the settlement of digital assets. It was designed to manage the currency transfer between the sender and the receiver. 

The Cardano Computation Layer (CCL)-

The second layer uses smart contract logic to help developers programmatically move funds. 

ADA is essential in facilitating transactions, and holding the token allows users to contribute to governance. Staking ADA and liquidity contributions boosts blockchain stability. It also gives users a means to earn passive income. 

Cardano (ADA) Over The Years

Cardano (ADA) blockchain platform was named after the Italian mathematician Gerolamo Cardano. ADA, the token, is named after the famous English mathematician, Ada Lovelace. 

The platform’s development has gone through five stages over the past years, to where it is now. Each of the phases brought it through; foundation, decentralized, smart contracts, scaling, and governance. 

It is no wonder the blockchain platform has come so far and is a favorite among many investors, putting it among investment choices to earn income. 

Chainlink (LINK)- The Oracle of Blockchains

The decentralized finance hybrid blockchain was launched in 2017 by Sergey Nazarov and Steve Ellis. It represented a significant shift from the previous, highly centralized financial system, although it did not go into operation till 2019. 

The oracle of blockchains uses data from the real world and off-chain sources to on-smart contracts. The smart contracts then validate transactions for blockchains and enterprises. Chainlink (LINK) is permissionless, providing a data system that anyone can access and contribute to the advancement of the blockchain. 

The present architecture enables the exchange of other tokens and connects other cryptocurrency platforms. Utilizing the Chainlink (LINK) assists organizations that use blockchain tech to carry out specific tasks. 

Furthermore, the blockchain runs on the Ethereum (ETH) network and is powered by the LINK token. LINK used to pay or reward Chainlink (LINK)  operators for the services rendered. 

These cryptocurrencies might have suffered a bit due to the crypto winter, but they aren’t staying down either. And if you want a chance to see your investments through the winter, then you should consider checking them out. 

A side note to investors is to conduct additional research before buying any token or coin in the cryptocurrency market. 

Adirize DAO (ADI)

Presale: http://join.adirize.com/ 

Website: http://adirize.com/ 

Telegram: https://t.me/AdirizeDAO_Official 

BIG MEME STORM IS COMING, APECOIN, AND AVALANCHE COULD BE REPLACED AS SOON AS BIG EYES COIN GIVES YOU 10X RETURNS!

by

Over the past few years, cryptocurrencies have performed well and are getting attention worldwide. However, it’s impossible to say exactly what will happen to the crypto market in 2023 and beyond. The high volatility and sudden price changes can be a major obstacle to its worldwide adoption. As cryptocurrency prices change in seconds, it can either make you a millionaire or even liquidate your account in no time. 

The recent crypto market crash has proved another point about how volatile the crypto market is nowadays. Almost all cryptocurrencies plunged 50% of their value, and still, not everyone is convinced if the crypto crash will end in 2022 or not. In this bear market, presale stage cryptocurrencies look like the best bet to get good profits in the future. As the crypto market has plummeted 50%, it is the best time to get into presale projects in the crypto market. 

Screenshot 20220901 174722 01
BIG MEME STORM IS COMING, APECOIN, AND AVALANCHE COULD BE REPLACED AS SOON AS BIG EYES COIN GIVES YOU 10X RETURNS! 11

The crypto community meme coins and one of the known meme coins is Dogecoin (DOGE), making people overnight millionaires. It spawned a whole category in the crypto space and brought forth an explosion of meme cryptocurrencies. Elon Musk was the critical reason Dogecoin (DOGE) pumped and expanded last year. However, if you have missed out on Shiba Inu (SHIB) or Dogecoin (DOGE), a new crypto project is on the way to disrupt the meme sector and potentially make you the next millionaire. 

Big Eyes (BIG) is a new meme cryptocurrency that appeals to a massive target audience. It is a community-led decentralized meme token that has the mission to shift wealth to the DeFi ecosystem and protect an important part of the world’s ecosystem. Furthermore, it aims to give back to its community by making decisions concerning growth and development through a sustainable blockchain ecosystem that self-propagates for hypergrowth in different crypto sectors.  

Big Eyes (BIG) – The Next Big Meme Coin

Big Eyes (BIG) is a community-driven meme token aiming for a decentralized finance (DeFi) ecosystem with a fresh ethos by directing capital wealth and wishing to protect a critical area of global ecology. This protocol is more inclined towards the meme market by constructing a blockchain ecosystem that propagates hypergrowth through NFTs that will enable access to content and events.  

Screenshot 20220901 174550 01
BIG MEME STORM IS COMING, APECOIN, AND AVALANCHE COULD BE REPLACED AS SOON AS BIG EYES COIN GIVES YOU 10X RETURNS! 12

The team plans to reroute wealth into the ecosystem of Decentralized Finance (DeFi). It also intends to take community care further by employing a “no buy tax, no sell tax” policy and a dynamic tax system. This dynamic tax system will allow changes to the conventional tax system in the cryptocurrency industry by including fees for Liquidity Provider (LP) acquisition, Auto Burn functions, and the Marketing Wallet. Big Eyes (BIG) focuses on community power. The bigger the community, the more active, and the more engaged, the greater the momentum is. The community will be rewarded with regular giveaways in tokens, NFTs, and rewards. Moreover, the community will always hear any news first. 

It is also a Decentralized Autonomous Organization (DAO), meaning it’s a community-driven coin with internal decisions. The ecosystem is very appealing because it takes power away from rich and powerful crypto enthusiasts and instead places it in the hands of token holders. Big Eyes (BIG) is dedicated to strengthening and maintaining its community with an ‘NFT Sushi Crew,” a club for the NFT Sushi Holders, providing access to events, projects, and merchandise. Big Eyes (BIG) has raised a whopping $1 million in the presale stage and aims to raise $50 million as it plans to outcast competitors like Dogecoin (DOGE) and Shiba Inu (SHIB). Here is a step-by-step guide to buying Big Eyes (BIG) in the presale stage;

Step 1

Make sure you have a Metamask Wallet on your browser or use any wallet supported by “Wallet Connect.” Transactions on a desktop browser will give you a smooth purchasing experience. For this, it is recommended to use Metamask. If you are purchasing on mobile, using Trust Wallet and connecting it through the default browser is recommended.   

Step 2

Once your cryptocurrency wallet is ready, click “Connect Wallet” and then make your selection. You must choose “Wallet Connect” to access mobile wallet apps. There are three options:

  • Buy ETH with a card
  • Buy Big Eyes (BIG) with ETH
  • Buy Big Eyes (BIG) with USDT

Step 3

Once the presale is ended, you will be able to claim your tokens. Release details will be announced on the main site.

Avalanche (AVAX) – The Eco-Friendly Crypto

Screenshot 20220901 174602 01
BIG MEME STORM IS COMING, APECOIN, AND AVALANCHE COULD BE REPLACED AS SOON AS BIG EYES COIN GIVES YOU 10X RETURNS! 13

Avalanche (AVAX) launched in September 2018 a Decentralized Finance (DeFi) platform specially built for smart contracts and focuses on fast transactions, low fees, and energy efficiency. In addition, this platform focuses on creating a unified global financial market, where users of the platform will be able to trade digital currency in a factionless way.

This protocol aims to create a blockchain with extremely scalable capabilities without compromising security or decentralization. Employing a proof-of-stake consensus algorithm, Avalanche (AVAX) aims to make itself fast and consume less energy than some other alternative exchanges available. Furthermore, security and timestamps of every transaction are guaranteed by its special consensus process, preventing double spending attacks on any token using the network.

It utilizes a multi-level incentivization system to ensure that transactions between different currencies are completed quickly. Encompassing multiple blockchains, this platform processes around 4,500 transactions per second and takes advantage of multiple blockchains and proof-of-stake systems, which makes it much faster than other exchanges and coins. 

Its rapidly expanding layer-1 blockchain solves key problems with blockchains, including scalability, without sacrificing decentralization. Users can design blockchains and subnets with complete user customization, defined core logic, and functions that can be either permissioned or permissionless. Users can also trade digital versions of items or customized assets. They will be able to create smart contracts or digital asset representations that are very scalable.

This platform consists of three blockchains as opposed to one, allowing each blockchain to specialize in a certain task within the broader Avalanche ecosystem. It is made up of three chains: the Platform Chain(P-Chain), the Contract Chain(C-Chain), and the Exchange Chain (P-Chain).

The blockchain that handles the creation and exchange of Avalanche assets is called Exchange Chain (X-chain). Contract Chain (C-Chain) enables developers to build decentralized applications on Avalanche while leveraging its security and scalability benefits. L1 and L2 blockchains can be created by individuals using Platform Chain (P-Chain), allowing them to even establish groups of blockchains.

ApeCoin (APE) – The NFT Coin

Screenshot 20220901 174610 01
BIG MEME STORM IS COMING, APECOIN, AND AVALANCHE COULD BE REPLACED AS SOON AS BIG EYES COIN GIVES YOU 10X RETURNS! 14

ApeCoin (APE) launched in March; an ERC-20 token on the Ethereum blockchain is a native cryptocurrency of the Board Ape Yacht (BAYC) ecosystem, which is the most popular NFT collection. This platform has empowered the community to lead and build metaverse events, games, or blockchain services. 

It is a Decentralized Autonomous Organization (DAO) which brings new proposals for governance rules, partnerships, ecosystem funding, and many more. Community members vote on these proposals depending on the number of APE tokens they hold. This platform is designed to act as the driving force behind BAYC in addition to helping NFT owners. Within the BAYC ecosystem, Apecoin is already used for decentralized gaming and e-commerce development projects. 

APE is both a utility and governance token for the upcoming metaverse platform. Token holders will have voting rights on the development of ecosystems, and collaborations are referred to as the ‘governance” portion. Its utility part refers to using the APE coin for whatever utility new projects demand. 

Token holders will be able to have access to exclusive games and projects which the platform will be launching. In addition, users can pay for goods or make purchases through web3 apps that are not even connected to the Bored Ape Yacht Club. This ambitious protocol aims to become the center of a whole new Web3 build-out which includes games, culture, virtual land, and community. ApeCoin (APE) is community-driven, focusing on decentralization, privacy, and security. To make blockchain accessible to all, this protocol is working on several projects consisting of a point-of-sale system, decentralized exchange, and a mobile wallet. 

Final Thoughts

Big Eyes (BIG) is a new cryptocurrency expected to skyrocket in value. It is jumping into the scene and hoping to change the perspective of meme cryptocurrencies worldwide. In addition, it is making huge moves to change crypto assumptions through Non-Fungible Tokens (NFT) and cute-cat mascots. 

Avalanche (AVAX) transactions might be delayed if validators are not in agreement on the status. Moreover, there is no liveness guarantee where conflicting transactions are highly concerned. Finally, Apecoin (APE) has no mining of new tokens, and it is still too early to predict future potential. Big Eyes (BIG) has multiple tools that will help construct an appealing ecosystem, and if the PoW consensus is outdated, it is expected to outperform Bitcoin (BTC) and Dogecoin (DOGE). 

You can find more information here.

Coinbase Cloud runs an Avalanche public validator unit

by

Coinbase Cloud, a Web3 developer hub, has released a set of tools to let developers work with the Avalanche blockchain and smart contract platform.

The Web3 developer hub is operating an Avalanche (AVAX) public validator node as part of the new support features. Participants in the Avalanche network can use Coinbase Cloud to stake their AVAX tokens and allocate power for confirming transactions on the blockchain.

Screenshot 14

Compatibility with the Ethereum Virtual Machine (EVM) allows a network to gain from the Ethereum (ETH) network’s security. Tokens on EVM-compatible networks can also be effortlessly transferred across them.

The crypto exchange’s own Web3-enabled digital asset wallet, also has an AVAX connection. It will also give documentation to developers for deploying applications on the Avalanche network. Last week, Coinbase Wallet launched support for Solana (SOL).

It has been announced that for the platform Cloud users, the Query and Transact feature will be improved. This feature makes it easier for developers to locate, interact with, and examine the code that makes up the Avalanche network. Developers may configure who has access to the node infrastructure and deploy their nodes over four geographic areas and two cloud providers with little downtime, according to the company.

Coinbase cloud to offer developer tools suite

This is a Web3 developer support platform from the Coinbase cryptocurrency exchange, which debuted in October of last year.

Furthermore, Avalanche has begun rolling out support for the Bitcoin (BTC) network through the Avalanche Bridge, in addition to the Web3 developer’s latest additions to the AVAX ecosystem. In the second quarter of this year, full support is scheduled to be completed. BTC holders will be able to transfer their coins to the Avalanche network and participate in decentralized finance (DeFi) activities there as a result of this.

Kevin Sekniqi, co-founder and COO of Avalanche, summed up the BTC integration with Avalanche in a tweet on 23 March 2022.

https://twitter.com/kevinsekniqi/status/1506340883146457095?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1506340883146457095%7Ctwgr%5E%7Ctwcon%5Es1_c10&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fcoinbase-cloud-launches-avalanche-developer-tools-suite

This latest integration arrives as the Avalanche Summit takes place in Barcelona, Spain, where the Terra (LUNA) team revealed that its UST stablecoin is now trading on Avalanche, in addition to the exchange platform’s Wallet and Bitcoin interfaces. Through investments and new applications, all three developments this week are expected to add value to the Avalanche ecosystem over time. At the time of press, Avalanche was priced at $84.36 with a daily drop of 2.3%.

Are Avalanche [AVAX] and Solana [SOL] overhyped?

by

The two most popular Ethereum [ETH] rivals- Avalanche [AVAX] and Solana [SOL] have seen tremendous growth in 2021 and received widespread attention with many touting them as ETH killers. However, a leading Blockchain engineer David Kajpust considers the hype surrounding the two assets as exaggerated. In a series of tweets, Kajpust detailed the reasons why the narratives around the two blockchains are strong in comparison to the Cosmos [ATOM] ecosystem and Polygon [MATIC] which according to him ‘also handles significantly higher transaction’.

First, the developer insists on looking from the perspective of Venture Capitalists [VCs] whose main goal is to ‘make as much money as possible as they want to buy low and buy A LOT‘ thus enabling them to purchase a large amount at a cheaper rate. Kajpust observed that the reason behind Solana and Avalanche witnessing a massive accumulation in 2021 is because of these large-scale investors selling at a higher rate to retail investors.

In terms of the community becoming more centralized, Kajpust noted that a small group of people was meticulously working behind the scenes to coordinate and interact with founding teams, OTC desks, and other rich individuals in collecting large percentages of SOL and AVAX. This according to him resulted in a creation of a semi-centralized distribution along with coordinated marketing strategies like announcing massive user incentives that lead to the shilling of the tokens.

Avalanche and Solana’s Bullish narration eclipsed others?

The developer in his post further analyzed the probable plan of action undertaken by the VCs with regards to the layer-1 blockchains such as Avalanche and Solana, this year. Reading along with the same, he stated,

“In retrospect, the A++ strategy for VCs in 2021 was: Find a fast L1 that you can buy 3-7% of all tokens, through founders or OTC. – Shill it. Endlessly. With conviction. Get it into the top 10 so that the liquidity is high enough to absorb billions in profit.”

In a nutshell, Kajpust observed that the Cosmos ecosystem is way too decentralized to have coordinated shilling, marketing, and have under-exaggerated narratives. On the other hand, that the current token distribution of Avalanche and Solana encourages shilling and has inflated bullish narratives.

Here’s what to know about Avalanche’s native Stableswap platform, Platypus

by

Avalanche [AVAX] has been at a forefront of several high-profile decentralized finances or DeFi projects. Among them is Platypus, the winner project of an Avalanche X grant, which aims to offer higher scalability, lower slippage, and a user-friendly stableSwap platform to have ever been built on the AVAX ecosystem. Noted DLT writer who goes by the Twitter handle CryptoSeq elaborates on the wide array of use cases of the DeFi protocol.

In the beginning, the post analyses the existing stableswap platforms such as Curve which is known to have closed liquidity pools that cause fragmentation as the liquidity of different pools can’t be shared with each other, resulting in higher slippage. This creates an obstacle as users are required to deposit multiple tokens within the pool with equal value and its rigid pool structure prevents users to add new tokens into existing pools, thus hindering the scalability of the protocol and providing a bad user experience.

FG5cFVlWUAk5Qno
Here's what to know about Avalanche's native Stableswap platform, Platypus 17

In contrast to that, Platypus aims to build a new Automated Market Maker [AMM] on Avalanche with the following features – Open liquidity single-sided AMM managing risk autonomously based on the coverage ratio, allowing maximal capital efficiency. Single-sided open liquidity pools promote capital efficiency, resulting in significantly lower slippage. Additional assets can easily be added to the existing liquidity pool providing flexibility and scalability whilst offering a far simpler user experience.

Avalanche’s native project recent funding

Notably, Platypus recently secured $3.3 Million in a funding round led by leading hedge fund management firm Three Arrows Capital and Venture fund entity DeFiance, alongside other top-tier investors such as Avalaunch, CMS Holdings, or Hailstone. In addition to that, the platform on November 9, this year launched their alpha mainnet which restricted the total value locked [TVL] in the system to $10 million [which for the record was filled within 15 mins] and is close to launching a beta version soon.

In a nutshell, the post concludes on the note that the Platypus project sets the course to become the dominant stableswap on the Avalanche ecosystem. Despite being a young project, Platypus is enjoying the backing of an increasing enthusiastic community.

Avalanche [AVAX] slumps by 34% in 2 weeks amidst surge in network activity

by

Avalanche [AVAX] price has been currently embroiled in a downtrend as it kept hitting lower lows since the beginning of December 2021. AVAX took the lead in registering one of the biggest losses among the altcoin troupe in a span of just 2 weeks. The native token declined by 34% since December 1st, 2021, and has been unable to cross the $100 mark for more than a week.

At the time of writing, the asset is trading at $79.46 with a 24-hour trading volume of $1.08 billion. AVAX is down by 6.45% in the last 24 hours. The 12th ranked asset’s market cap stood at $19.31 billion.

Avalanche [AVAX] technical analysis

AVAXUSDT 2021 12 14 14 28 48

In the 1 day chart, the emerging red bars of the Awsome Oscillator [AO] is depicting a bearish momentum in the coin market. Next to that the Chaikin Money Flow [CMF] slow rise under the zero-line is projecting an increase in the capital inflow which is a positive signal for price recovery. With respect to the trading activity, the sellers are currently holding their fort as evident from the RSI indicator hovering below the 50 mark.

Avalanche’s optimistic fundamentals in contrast to its price slump

Despite the overall dull outlook on the price front, its network activity is relatively unfazed. As a matter of fact, the AVAX network is taking the lead on a high-profile initiative with one of its top developer’s ambitious proposals to absorb SushiSwap under their project’s umbrella. Notably, the AVAX coin has seen a nearly 1,000% surge since the beginning of August this year, making it one of the fastest-growing platforms in the decentralized application [dApps] sector.

In addition to that, one of the developers of the network is Daniele Sestagalli who is the brain behind two of Avalanche’s largest dApps, Wonderland and Abracadabra whose combined market capitalization of their respective tokens stood at a staggering $6 billion. Continuing its rapid strides- in the Daily Active Address count, Avalanche charted a new milestone on 14th December, this year.

Avalanche [AVAX] scores a Million Cumulative Wallets on its C-Chain

by

Avalanche [AVAX] charted a new milestone when it scored a million total wallets on its Contract chain [C-Chain] for the first time since its inception back in 2018. Reading along the same line, Marketing Exec of Avalabs Jay Kurahashi-Sofue illustrated a gradual increase in the cumulative address count of AVAX, starting from 2021.

1 3

It is noteworthy to mention that the network comprises of three individual blockchains: the X-Chain, C-Chain and P-Chain. Each chain serves a unique purpose and is entirely different from Bitcoin and Ethereum. The important chain, for the time being, is the Contract or C-Chain which is the EVM compatible chain and operates on Proof of Stake protocol, adding a layer of extra security.

With regards to its on-chain activity, the layer one blockchain is going through a phase of hyper-growth, with Total Value Locked [TVL] increasing 88x since July 2021, tapping a new high of $13.18 billion on 26th November, according to multichain stats provider DefiLlama. Even though, TVL has retraced to $12.43 billion at the time of writing, it is still hovering close to its ATH.

Previously Tronweekly reported on Avalanche’s [AVAX] entry into the coveted list of the Top 10 cryptocurrencies. AVAX hit an all-time high of $146.22 on 21st November this year, soaring by more than 200% in a span of just three months. Following that, the digital asset surpassed both Elon Musk’s favorite Dogecoin [DOGE] and its rival Shiba Inu [SHIB] to secure the 10th rank for a brief period of time.

Recent partnership in the Avalanche ecosystem

Notably, AVAX succeeded in raking new gains following the announcement of building a disaster recovery platform with prominent accounting firm Deloitte on 17th November. According to the blog post, ”The Close as You Go service simplifies disaster reimbursement applications for victims of natural disasters, by aggregating and validating the documentation required for funding”.

Avalanche yet to tap the NFT market?

AVAX’s DeFi ecosystem continues to prosper, while its footprint in the NFT space is still at its nascent stage. Nevertheless, Avalanche has started to gain traction with high-profile platforms such as Kalao and Particle being built exclusively on the blockchain.

On the price front, it is currently trading at $110.75 with a 24-hour trading volume of $1.29 billion. The 11th ranked asset is up by 2.18% in the last 24 hours. 

Shiba Inu [SHIB] leaves top 10 as Avalanche emerges stronger

by

Shiba Inu [SHIB] decided to take a breather following a long stay below the crypto spotlight. While SHIB was taking its break, other coins flourished and managed to overpower the meme coin. Not only did SHIB notice a drop in its ranking, but the altcoin’s price also followed suit.

The fervor around Shiba Inu has been at its peak. The altcoin’s significant price change put several coins to shame. However, volatility continues to haunt the asset. SHIB witnessed a major drop of nearly 10.94% over the previous seven days while altcoins like Avalanche [AVAX] and Crypto.com coin [CRO] witnessed a 50% and 93% increase, respectively.

Not just SHIB, AVAX decided to briefly overtake Dogecoin [DOGE] as well. But, this didn’t seem to last too long as Elon Musk’s favorite crypto-asset regained its position.

Circling back to SHIB, it was noted that the altcoin was trading for $0.00004259, during the time of writing, This drop was following a 5% price change over the last 24-hours.

Furthermore, Shiba Inu stood as the 12th largest cryptocurrency. The chances of SHIB overtaking its counterpart AVAX were rather bleak as the disparity between the market cap of the coins was too high. At press time, SHIB’s market cap was at $23.4 billion, whereas AVAX was at $28.9 billion.

Shiba Inu [SHIB] one-hour price chart on Coinbase

Shiba Inu
Shiba Inu [SHIB] leaves top 10 as Avalanche emerges stronger 21

Times were certainly tough for SHIB. The short-term price chart of the meme coin had bears camping in its market. The Parabolic SAR indicator has been residing in the bearish region for the longest time now. Even if there are signs of the bull it was extremely dainty. Currently, dotted lines were imposed over the price candles further restricting any upward movement.

The MACD indicator embodied a similar emotion as it underwent a bearish crossover. The Relative Strength Index [RSI] indicator notified that Shiba Inu was being overtly sold.