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Sui Surpasses Solana in Daily Transactions Amidst Spam Token Frenzy Sui, a scalability-focused blockchain, has surpassed Solana, a top 10 cryptocurrency network, in activity levels, registering 41 million transactions on April 3. Sui, a blockchain network that targets scalability and low fees, overcame Solana in registered activity. According to Artemis, a blockchain statistics tool, Sui registered over 41 million transactions on April 3, leaving Solana behind with 27.7 million transactions completed during the same period.The overheating in Sui’s usage is related to spam, a token used to stress test the capabilities and limits of the blockchain. 1 billion spam tokens are issued daily and will be distributed among the users sending transactions using Sui’s network. Spam rewards will be equivalent to the participation of each user in the test, with participants with more transactions issued getting more spam.Throughput during the test rose to 863 transactions per second (TPS), settling at 650 TPS, according to X user Martyparty. Over 65 million transactions have been sent during the stress test, and this number is expected to keep rising as more users join the experiment to receive more spam tokens. Less than 60k unique users have participated in this test. To help users send transactions, the spam team has built a web client that hosts a cryptocurrency wallet that can send one transaction each second. Furthermore, another onchain mechanism tracks user transactions, calculates rewards per user, and lets users mint spam without using the provided web client. Even after experiencing this rise in activity, the network operates normally, coping with the increase in transactions. In a controlled load test in July, the network managed to handle a load of over 60 million daily transactions, a number the upcoming spam token activity might surpass. #SUI/USDT. #Solana’ #buythedip #BullorBear #BlackRock

Sui Surpasses Solana in Daily Transactions Amidst Spam Token Frenzy

Sui, a scalability-focused blockchain, has surpassed Solana, a top 10 cryptocurrency network, in activity levels, registering 41 million transactions on April 3. Sui, a blockchain network that targets scalability and low fees, overcame Solana in registered activity. According to Artemis, a blockchain statistics tool, Sui registered over 41 million transactions on April 3, leaving Solana behind with 27.7 million transactions completed during the same period.The overheating in Sui’s usage is related to spam, a token used to stress test the capabilities and limits of the blockchain. 1 billion spam tokens are issued daily and will be distributed among the users sending transactions using Sui’s network. Spam rewards will be equivalent to the participation of each user in the test, with participants with more transactions issued getting more spam.Throughput during the test rose to 863 transactions per second (TPS), settling at 650 TPS, according to X user Martyparty. Over 65 million transactions have been sent during the stress test, and this number is expected to keep rising as more users join the experiment to receive more spam tokens. Less than 60k unique users have participated in this test. To help users send transactions, the spam team has built a web client that hosts a cryptocurrency wallet that can send one transaction each second. Furthermore, another onchain mechanism tracks user transactions, calculates rewards per user, and lets users mint spam without using the provided web client.

Even after experiencing this rise in activity, the network operates normally, coping with the increase in transactions. In a controlled load test in July, the network managed to handle a load of over 60 million daily transactions, a number the upcoming spam token activity might surpass.

#SUI/USDT. #Solana’ #buythedip #BullorBear #BlackRock

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Crypto VC Firms Pour Millions Into “Professor Coins” Despite Centralization Concerns Crypto VC firms have increased investment in the market this year despite foundational blockchain concerns. A new Bloomberg report shows an inflow of funds “Professor Coins,” virtual asset projects ignited by University professors. According to the report, firms launched by academics have received millions from VC firms as the market rebounds. The inflows come on the heels of renewed investment in Q1 2024 after Bitcoin (BTC) ballooned to an all-time high above $72,000. Firms like CheckSig, Sahara, etc. were founded by University academics and have recorded inflow in the last two months. Crypto VC Firms Back Restaking:The turn to professor coins has seen significant inflows to firms that offer restaking services. Restaking allows validators to rely on already staked assets. This makes room for new projects to why a head start by borrowing resources.Crypto VC firms gained interest in EigenLayer and Babylon seeing recent flows of $118 million to both projects. Founded by Sreeram Kannan, a professor at the University of Washington, the company secured $100 million in funding from Andreessen Horowitz while Babylon founded by Stanford University Professor David Tse raised $18 million. Centralization Concerns:The move to professor coins by crypto VC firms isn’t without industry criticisms as many cite reduced decentralization. This comes after EigenLayer’s token launch plan which will distribute 1.67 billion tokens with over 50% going to early participants and investors. The coins will also be nontransferable causing slight concerns. The team explained that making it non-transferable provides time to improve decentralization. #ETHETFS #ETFvsBTC #altcoins #Memecoins .#BTC
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Will Precious Metals Rally Outpace Bitcoin? This Economist Thinks So! The prices of gold and silver have been skyrocketing as of late, tempting investors to pivot towards them. The precious metals are rallying at a record pace, trading at $2,370 and $28, respectively. This sudden development in the metal sector is compelling economists to forecast new price thresholds for them to breach, outpacing any contemporaries leveling the space. The precious metal spikes are now compelling analysts to gnaw at Bitcoin by pivoting investor sentiment towards the bullish metal wave. Several economists and experts are busy posting a mix of opinions on X, and some of them can be seen bashing investments made in Bitcoin. Peter Schiff, a notable economist and financial expert, has once again attracted the spotlight by making new comments about Bitcoin. Schiff took to X to share his views on BTC, adding that investors should invest in gold, silver, and mining stocks rather than putting their money in Bitcoin. The price of gold has accelerated at a record pace, compounded by worsening war situations around the world. The precious metal surge has further gained prominence due to rising inflationary pressure. This development is compelling investors to pivot towards alternative investment tools such as gold and bitcoin. While gold and silver have always been dubbed excellent sources of investment, BTC, on the other hand, has drawn significant criticism amid a rising metal rally. On the contrary, Bitcoin has been performing exceptionally well as of late, outshining its contemporaries at a rapid pace. The token is currently sitting at $64K, after touching an all-time high of $70K this season. Per several analysts on X, Bitcoin is poised to cross the $75k mark. BTC is developing into an avenue capable of harboring and disseminating steady returns. The booming sector analytics project that Bitcoin is here to stay for a long time. #ETHETFS #ETFvsBTC #BinanceLaunchpool #altcoins #BlackRock
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Cardano’s (ADA) On-chain Volume Declines: Are Bulls Wrong? Cardano (ADA) price has plummeted with the wider cryptocurrency market posting daily losses. The price of ADA stands at $0.4433, a 4% decline in the last 24 hours, signaling bearish pressure. This week’s drop in the asset follows a similar decrease in top assets as sentiments continue to plunge. While market liquidations have been sparked by macroeconomic factors and a tighter SEC regulatory stance, industry factors have also plunged Cardano’s momentum. Weekly and monthly flows for the asset are at 5% and 28% respectively. The plunging price of ADA is due to reduced transaction volume as well as decentralized finance (DeFi) activities. Cardano’s daily trading volume is down 0.50% to $275 million. Alongside trading volumes, on-chain activities have also slowed. Data from DeFiLlama show totals of $274 million in total value locked (TVL). This shows a 4.45% decline from previous levels from yesterday. Cardano volumes on DeFi protocols have a 22-% weekly change with most platforms recording losses. Minswap and Indigo are down 4% in volumes with the platform’s TVL failing to $68 million and $61.2 million. This year, bulls projected record highs for Cardano on the back of price upticks recorded in Q1 coupled with partnerships and positive on-chain sentiments. This year, Charles Hoskinson, the co-founder of Cardano has hinted at potential partnerships including a deal with Bitcoin Cash. #ADABullish #Memecoins #altcoins #buythedip #MicroStrategy
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Render (RNDR) Price Slips Following 27% Rally, Here’s Why In an unprecedented turn of events, RNDR, the native token of the Render Network, illustrated signs of a pullback today, May 11, following a phenomenal bull run witnessed over the past week. After rallying 27.30% in the past seven days, RNDR’s price slipped nearly 3% in the past 24 hours, falling in line with a stockpile of market statistics. In a post shared by the on-chain analytics platform ‘The Data Nerd,’ it was brought to light that address 0x537, reportedly linked to GSR Markets, a renowned digital asset market maker, deposited a staggering 500,000 RNDR, worth $5.56 million, to Binance. This action appears to have primarily influenced the token’s current price movement, pulling it into the red territory.Notably, the address still holds 550K RNDR tokens worth $6.07 million. Meanwhile, it’s worth mentioning that the remarkable weekly gains illustrated by the Render token comes alongside a phenomenal spike in whale activity, which triggered a rising price action for the crypto. Further, the recent rise in AI and Big Data projects has additionally injected a bullish trend in the AI coin.Collectively, this data has ignited market sentiments of short-term volatility, with the token’s long-term price movements eyeing greater heights despite today’s slip. Meanwhile, the RSI hovered at 65, with a buying sentiment prevailing within the market. This hinted that the token has yet to reach overbought territory, with potential gains lying ahead. Conversely, the market may witness a price correction if an overbought territory is reached.On the other hand, with the coin gaining roughly 27% over the past week, sentiments of a due price correction already loom. #RNDR/USDT #RNDR/USDT💥 #RNDR: #altcoins #Memecoins
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