Let’s review the most important altcoin news of the week in a list. While the technical issues of the Solana network were confirmed by Binance, NFL and NBA players Dez Bryant and Stephen Curry supported million-dollar NFT sales. Here are the details and statistics of the week…
Binance confirms Solana network congestion issue
Binance, the world’s largest cryptocurrency exchange, addressed Solana network issues in a blog post. The exchange’s report confirms that the Solana network is experiencing high congestion due to increased high compute transactions. “The Solana network is currently experiencing congestion due to increased high-transaction transactions,” said Chinese independent researcher Wu Blockchain. This increased congestion can limit the network to a few thousand transactions per second. You can find the report of Binance and Wu Blockchain in the tweet below.
Crypto. com price dropped 20% in one week
Crypto. com price reported losses of 4% in the last 24 hours and over 20% in a week amid the news of the ban. The UK’s Advertising Standards Authority, Crypto. com banned two ads and found the contents misleading and irresponsible. However, the CRO price is depreciating for the fourth week in a row. The UK’s advertising regulator, the Advertising Standards Authority (ASA), Crypto. com, labeling it misleading and irresponsible.
Andre Cronje announced new features for the new DeFi project “and(3,3)”. The project will be run on the Fantom Blockchain, which will include an automated market maker and an emissions-based token structure. Users will be able to deposit and lock a token and in return earn incentive tokens as a reward. You can find the details in the tweet below.
Kim Kardashian, Floyd Mayweather, and Paul Pierce are being sued over the Ethereum Max Promotion. As per the development, the Ethereum Max price peaked on May 31, 2021 before falling more than 80% in 11 days. Then, in mid-June, Kardashian’s ads gave a minor bullish sign before falling further as their campaign continued. Currently, ATH is trading below 97%. The community is preparing to hold accountable for this cause.
NFTs have become an increasingly popular personal branding tool for athletes. Now National Football League (NFL) star Dez Bryant and his statistics become NFT collection via Chainlink Bryant shared that dynamic NFTs can change the way athletes relate to their fans and provide a more engaging environment than static physical collections.
- The platform’s first NFT collection, Juggernauts, was released on September 9 and has registered a trading volume of 30.3 ETH (about $92,000 at press time).
The base price for the LinksDAO NFT collection is Golden State Warriors Stephen “Steph” Curry’s “Leisure Membership” and “LinksDAO Global” for 0.29 ETH (892.13) and 1.12 ETH ($3,442.89) respectively. Membership” rose today after purchasing their NFT. Curry’s purchase helped push the price of the first up to 0.72 ETH ($2,209.81). LinksDAO Global Membership NFT was last sold for 2 ETH ($3,111.91).
Altcoin project completes “1 million trees” goal
A restoration project using Cardano (ADA) has met its initial goal of planting more than 1 million trees, the Cardano Foundation said over the weekend. Veritree uses Blockchain technology to record the supply chain of tree plantings for its clients, providing verifiable tracking of such transactions. According to the latest statements, it is reported that the first step “planting 1 million trees” has been completed.
Gary Gensler refused to confirm or deny whether he considers Ethereum a security in a CNBC interview today. The SEC Chairman reiterates the need to introduce cryptocurrencies under securities regulations. The SEC has been criticized in recent months for its vague guidelines on cryptocurrencies. In his latest statements, the President said “I will not speak on anything” and added that the SEC “does not participate in public forums that talk about any project”.
Altcoin project Polygon has announced the release of Plonky2, whose tasks are to scale Ethereum to one billion users. According to his project’s official blog post, Plonky2 is a recursive SNARK that is compatible with Ethereum and is 100x faster than existing alternatives.
According to the Polygon team, Plonky2 has the following features:
- Plonky2 recursive approach is faster, requires less resources and can be more decentralized.
- A recursive proof in Plonky2 takes 170 milliseconds on a fast computer like a Macbook Pro.
- Plonky2 also allows users to speed up proof times for non-recursive proofs.
- Plonky2 is natively compatible with Ethereum. Plonky2 only requires keccak-256 to validate the proof.
Altcoin project Pledge Finance is recruiting Brian Brooks as a strategic advisor to its project team. A Harvard graduate, Brian is widely regarded as one of the most influential U.S. Currency Controllers, who gave fintech and crypto companies the first federal bank charters and paved the way for the integration of the crypto and traditional finance industries. Pledge CEO Tony Y. Chan shares that Brian Brooks will add great value to the protocol.
Ap. org (AP) announced that they will launch the NFT marketplace, built by blockchain technology provider Xooa. Xooa specializes in creating NFT marketplaces for brands and IP holders. Sunday and the first NFTs will be released on Monday, January 31. Blockchain and data licensing AP manager Dwayne Desaulniers shared the following about the project:
For 175 years, AP’s photographers have captured the world’s greatest stories in gripping and touching images that continue to resonate today; With Xooa’s technology, we are proud to offer these tokenized pieces to the rapidly growing global photo NFT collectors.
More than 7.1 million Shiba Inu tokens have been demolished and permanently removed from circulation in the past 24 hours, according to data provided by Etherscan and posted on his page by Twitter user Shibburn. So far, 410.3 trillion SHIBs have been permanently removed from circulation, out of one quadrillion of the initial supply.