In the first week of the new year, a number of critical developments took place, from the collapse of Solana Blockchain to the Avalanche partnership of Ribbon Finance. In this article, let’s take a look at the important news from 18 altcoin projects and list their recent announcements.
Solana network down, possibly due to DDoS attack
Solana (SOL) has collapsed for the fourth time in the last 12 months. According to the Telegram group of the Solana community, the main cause of downtime on the mainnet could be a DDoS attack. Users suspect that spam is overloading the network. The altcoin project had previously crashed in September due to high congestion after reaching 400,000 TPS.
DeFi altcoin project Dot. Finance Polkadot switches to parachain
DeFi protocol Dot, which automates DeFi yield farming ponds. Finance announced the move from Binance Smart Chain (BSC) to Moonbeam, the second parachain on Polkadot Blockchain. The altcoin project will also launch immediately on Moonriver, a Kusama-backed “canarynet” for Moonbeam. dot. Finance describes its “migration process” in the tweet below.
Nvidia Omniverse is now free
Nvidia, which produces and develops GPU and SoC equipment for gamers, announced that it has made 3D metaverse design and virtual world simulation platform Omniverse free. Omniverse provides tools that enable individual users to design virtual worlds. Nvidia shared the details in the following article:
Osmosis exceeds 1 billion dollars in TVL
DEX platform Osmosis from the Cosmos network has over $1 billion in total locked value. In this process, OSMO price brought its 24-hour gain closer to 13% and recorded its ATH of $ 8.58. This demand is thought to be driven by users seeking an alternative to the high gas fees of the Ethereum network.
Tokens. com hosts Decentraland and UDNX fashion week
Tokens, which came to the fore with its investments in DeFi, NFT and metaverse sector. com is hosting Decentraland’s first fashion week on March 24-27, 2022. Tokens. com’s “Tokens.com” which will host crypto conferences and events in the future. com Tower” project will be completed in the first quarter of 2022.
CFTC fines $1.4 million in Polymarket
Polymarket is a decentralized platform that allows users to place bets on sports games and political elections. Declaring that this is illegal, the U.S. Commodity Futures Trading Commission (CFTC) has fined the altcoin project, which has been operating since January 3, 2020, $1.4 million.
Ribbon Finance gained 60% after launch and integration announcements
There are two important developments that trigger the Ribbon Finance (RBN) price. The first is the release of Ribbon V2:
The altcoin project announced that it has listed Avalanche (AVAX) and a new AVAX-covered call vault where users can earn 24.18% returns:
Altcoin Chainlink adds 31% to the list of “profitable tokens”
After the market correction that started in November and reached 50%, the majority of Chainlink investors were at a loss and continued hodl. After the short-term rise of the LINK token, the Realized P/L ratio on the network reversed and most of the investors in the network took profits. Santiment relays its on-chain metrics in the tweet below.
9.7 million Shiba Inu (SHIB) burned
Cryptocoin. com, 9.7 million Shiba Inu (SHIB) have been burned in the last 24 hours. So far, 410, 300, 575, 781, 510 SHIB (41. 30006%) of the 1 quadrillion initial supply have been permanently removed from circulation. Steven Cooper, owner of Bigg Entertainment, shares that his team was able to burn 4.9 million SHIB in a single day.
MassBit integrates with Polygon Network
Polygon Blockchain is now rolling out more widely due to the new integration. The altcoin project has launched the partnership for deployment to MassBit’s cross chain indexing system. This partnership is important for cross chain projects in two ways:
- Removing a large portion of development tasks. This gives developers more time and resources for other tasks.
- This feature also enables developers to “analyze” and “query” data that is crucial to developing their projects.
Mason Nystrom drew attention to the partnership of altcoin projects ATOM and THETA
Experienced researcher and crypto analyst Mason Nystrom listed what altcoin project Cosmos (ATOM) Theta update can bring to investors. Nystrom lists 6 items and the rough includes:
- Meta-operations
- NFT modules
- Blockchain accounts
- Liquidity staking
- CosmWASM example on Hub
- Migration to Gravity Bridge
1. 049 billion Dogecoin swapped hands between Robinhood and anonymous altcoin whales
By tracking whales’ Dogecoin transactions, DogeWhaleAlert identified 15 transfers carrying over a billion DOGE in total. The bases from the transactions were worth 51 million, 17 million and 34 million dollars, and a total of 1.049 billion Dogecoins changed hands. Transactions and amounts transferred to the Robinhood exchange are also seen in the tweets below.
MonkeyBall GameFi launches MBS operations and announces NFT version
According to the official announcement shared by the MonkeyBall play-to-win protocol team, the MBS token testing process has been completed. Also, MonkeyBall’s MBS token, available on many third-party platforms, will promote the Solana-based gaming environment to a large audience of GameFi segment participants.