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Solana Inspired Project Bitgert Shall Become A New Leader In The Market

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Solana Inspired Project Bitgert Shall Become A New Leader In The Market

Like Solana, the Bitgert blockchain has smart contract functionalities

Key Points:

Bitgert is the most powerful blockchain

Bitgert fast-growing ecosystem will be a key driver

Bitgert has the most disruptive utility products

Solana inspired projects in the crypto market are many, but Bitgert (BRISE) has stood out because of the kind of project the team is building. The Bitgert team is building a blockchain ecosystem that features DeFi, NFT, and Web3 products. Among the major products that Bitgert has launched is the BRC20 blockchain, which is disrupting the market even today.

Bitgert shall become the next market leader because of the disruptiveness of the product the Bitgert team is building. Starting with the BRC20 blockchain, Bitgert has built a faster and cheaper chain than Solana.

Bitgert blockchain is the world’s first zero gas fee blockchain and the fastest blockchain. The cost of gas for every transaction is $0.0000000000001, and the chain speed is 100,000 TPS. The Bitgert chain is also EVM compatible and highly interoperable because the team has built a bridge for it.

Like Solana, the Bitgert blockchain has smart contract functionalities. This is the reason why Bitgert chain adoption is higher than Solana. Blockchain users want a cheaper and faster chain, which is what Bitgert has offered.

The Bitgert ecosystem is growing faster than Solana and many other large cryptocurrencies. Apart from the blockchain, the team has many more products from roadmap V1 and projects in its ecosystem. However, the Bitgert ecosystem will grow even faster due to the huge number of projects in the roadmap V2.

Among the notable products in this roadmap V2 are the NFT marketplace, centralized exchange, Web3 oracle, and many others. These are high utility products that will skyrocket Bitgert price due to their mass adoption. The upcoming 1000+ Bitgert backed projects are also going to grow this ecosystem faster.

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Solana

Among the projects that Bitgert will surpass along the way is Solana. Bitgert was inspired by Solana, but it might surpass it soon due to its disruptive project and fast growth. Bitgert blockchain is already superior to Solana. The only things that keep Solana ahead are the large ecosystem and marketcap, which Bitgert will catch up with soon.

In conclusion, Bitgert has proven that it has everything to be the next market leader. With the high utility and the fastest-growing ecosystem, this Solana-inspired project is the next big thing. The Bitgert BRC20 blockchain is currently the most adopted chain and will be the biggest driver of this growth.

 

Disclaimer: The information provided in this article is solely the author’s opinion and not investment advice – it is provided for educational purposes only. By using this, you agree that the information does not constitute any investment or financial instructions. Do conduct your own research and reach out to financial advisors before making any investment decisions.

The post Solana Inspired Project Bitgert Shall Become a New Leader in the Market appeared first on .

Altcoins

Is Solana [SOL] NFT market in trouble? Here’s what you should definitely know

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Is Solana [SOL] NFT market in trouble? Here’s what you should definitely know

The crypto market has been reeling under bearish pressure for quite some time now. But a few altcoins have defied the current market structure. One such alt was Solana. In the last seven days, SOL was up by 16.06%. However, there still remain concerns related to some of its on-chain metrics.

What’s up with Solana?

The Solana NFT market seemed to be cruising as it entered May. With a very productive April, the NFT markets were also expected to boom through the mid-season. In fact, the NFT volume on Solana reached its all-time high at $446 million. The high- lofty expectations were brought down with the Terra crash. Consequently, Solana has not been able to maintain the high NFT sales with volume drying down after the Terra debacle.

Source: Santiment

The Solana TVL in DeFi has also decreased gradually with increasing aversion towards risk assets in the market. At press time, the total value on Solana stood at $4.22 billion which is the lowest since September 2021.

Interestingly, the Solana TVL stood at $11.22 billion at the start of the year. This means a massive loss of more than 60% has taken place indicating the worrisome state of the market.

Source: The Block

While NFT sales and DeFi TVL are expected to grow as the market stabilizes, network issues continue to persist on Solana. Notably, co-founder Anatoly Yakovenko recently proposed changes to fix network congestion.

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Solana releases the testate

After seeing network issues persist on the blockchain, the Solana Foundation released updates to fix the issues. Anatoly Yakovenko announced the features of the v1.10.15 testnet on Twitter. He believes, the latest testnet can significantly curb the transaction throughput issues at ease and radically improve the network.

The testnet is a threefold upgrade process allowing users to improve the network experience through a series of changes. The first upgrade is access to Quick UDP Internet Connection (QUIC) which will lead to a reduced latency on the network.

The second upgrade is the implementation of stake-weighted transactions “that should prevent unstaked or staked bots from eating up all the bandwidth.”

However, this implementation is still in its “rudimentary” stage and “will take time to get right.” The last upgrade is releasing fee prioritization for users. This is another upgrade in its early stages. The Foundation still wants to make sure that this feature does not lead to higher fees for all network users.

Kanav is a journalist at AMBCrypto. He has a Masters in Media and International Conflict and is interested in areas of digital society, crypto developments in the political sphere and the socio-cultural impact of a crypto-society.

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16 cross-chain bridges

Terra Collapse Continues To Plague Defi — Value Locked In Cross-Chain Bridges Down 20% This Month

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Terra Collapse Continues To Plague Defi — Value Locked In Cross-Chain Bridges Down 20% This Month

Following the aftermath of the Terra blockchain fiasco, decentralized finance (defi) continues to feel the impact of the project’s fallout. During the last four days the total value locked (TVL) in defi has dropped 2.61% in value, and cross-chain bridges have lost roughly 20.3% during the last 30 days.

Value Locked in Cross Chain Bridge Tech Slips 20% Lower Than Last Month

Over $100 billion in USD value was recently removed from the total value locked (TVL) in defi and TVL statistics continue to slide. Four days ago, the TVL in defi was approximately $112.29 billion and today, the TVL is down 2.61% to $109.35 billion. In addition to the TVL in defi across a dozen blockchains, cross-chain bridge TVLs have slipped a great deal during the past month.

30-day metrics from Dune Analytics indicates that the TVL across cross-chain bridges is down 20.3%. Today, there’s $16.49 billion total value locked across 16 different cross-chain bridges. In addition to the cross-chain bridge TVL the number of ethereum bridge unique daily depositors has also dropped.

As of Thursday, May 19, 2022, Polygon has the largest TVL among the 16 cross-chain bridges monitored on Dune Analytics. Polygon has $5.15 billion today. The $5.15 billion on Polygon bridges represents 31.23% of the entire $16.49 billion cross-chain bridge TVL.

Polygon is followed by Avalanche ($3.55B), Arbitrum ($3.2B), Fantom’s Anyswap ($1.87B), Near Rainbow ($1.86B), Optimism ($585M), Harmony ($229M), Moonriver ($154M), and Xdai ($122M).

The top crypto asset leveraged on cross-chain bridges today is the stablecoin usd coin (USDC). The stablecoin has $5.1 billion locked and is followed by WETH or ETH with $4.57 billion locked. Tether (USDT) is the third-largest with $1.9 billion today and other notable cryptos leveraged on cross-chain bridges include WBTC, DAI, and MATIC.

The losses across defi stem from two different factors. One, the Terra blockchain fallout removed more than $40 billion from the defi ecosystem in a very short period of time. The remaining billions have left defi in various ways including using cross-chain bridges because defi users have been rattled by the Terra catastrophe.

Billionaire investor and crypto proponent Mike Novogratz published a blog post yesterday covering the recent Terra blockchain fiasco and he said “the collapse dented confidence in crypto and defi.”

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16 cross-chain bridges, Arbitrum Bridges, Avalanche Bridge, axie infinity, Blockchain, Bridge, Bridges, Cross-chain, DeFi, Defi TVL, ETH, Fantom, Fantom Anyswap Bridge, Harmony Bridges, Multi-Chain, multi-chain ecosystem, Optimism ERC20 Bridges, Polygon ERC20 Bridge, ronin, Solana, Terra Blockchain, Terra fallout, USDC

What do you think about the dent in confidence to the defi ecosystem and the value locked in cross-chain bridge tech dropping lower than last month? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Altcoins

Monero [XMR], Solana [SOL], and their redemption journey post 16 May

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Monero [XMR], Solana [SOL], and their redemption journey post 16 May

Unlike Crypto OGs, newbies and paper hands in the crypto space are not familiar with the popular saying “with hardship comes ease”. 

With FUD at an all-time high last week following crypto markets correction, the price of Bitcoin and several other altcoins plummeted.

However, last weekend was marked with a retracement as most cryptocurrencies attempted a recovery.  Solana’s SOL and Monero’s XMR were among the best performers as they recorded intraday trading highs on 16 May.

Recording a high of $174 during 16 May’s trade, a 19% increment was marked from the $146 price index recorded by XMR on 13 May. Similarly, at an intraday trading high of $58, SOL recorded a 13% price spike from the $51 marked on 13 May.

However, before investors become joyous, a closer look at performance in the last 24 hours is pertinent.

A redemption for your SOL

With a 4% spike in price recorded in the last 24 hours, an SOL token sold for $56 at the time of writing. Comparatively, in a 7-day window period, the coin declined by 19%. However, with a crypto market retracement underway, a speedy recovery is expected. 

Source: CoinMarketCap

Following a similar progression was the token’s market capitalization. At $18,913,459,121 at the time of press, the market cap recorded a 3% spike in the last 24 hours.

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Furthermore, although below the 50 neutral region, the RSI and MFI appeared to be in an uptrend at press. A further push into the neutral region can be expected as the momentum looks favorable. 

Source: TradingView

Do you HODL some Monero?

After trading at a low of $128.00 on 15 May, XMR on Monday (16 May) hit an intraday high of $174. Although this was followed by a retracement, in the last 24 hours, the price of the token rallied by 3% leaving the price per Monero token at $170.17 at the time of press. 65% away from its ATH of $517.62, with the market correction and consequential recovery, maybe HODLers might have a reason to smile soon.

A look at the price charts revealed that an intersection of the MACD line with the trend line in an upward direction was underway. This is generally indicative of increasing buying pressure which might further help boost the price of this token. 

Source: TradingView

In addition, standing at $3.08b at the time of press, the market capitalization for the XMR token saw a 1% spike in the last 24 hours. Marking a high of 187.96m in transaction volume on 16 May, in the early hours of 17 May, this stood at 182.09m and is expected to go higher.

Source: Santiment

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Abiodun is a full-time journalist working with AMBCrypto. He is also a lawyer with over 2 years of experience. With a keen interest in blockchain technology and its limitless possibilities, Abiodun spends his time understanding the technology, building projects, and educating people about it.

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