Binance Square
Home
Notification
Profile
Trending Articles
News
Bookmarked and Liked
Creator Center
Settings
LIVE
LIVE
DeFiDynamo
--・412 views
Polkadot, a leading blockchain protocol, has made significant strides in enhancing its network performance, notably increasing transaction processing speed and capacity. The protocol recently enabled Asynchronous Backing on its network, an optimized approach for validating parachain blocks by the Relay Chain. This upgrade has resulted in blocks being produced twice as fast and a 6-10 times increase in available block space. The team stated that this enhancement boosts throughput by 8x, without compromising security, making it a promising development for Web3 applications across various sectors, including DeFi and gaming. In other news, Polkadot is reportedly exploring a potential $8.8 million sponsorship deal with American soccer club Inter Miami. This would mark Polkadot's second attempt to penetrate the soccer world, following a previous bid to become FC Barcelona's official jersey sponsor. These advancements and potential partnerships underscore Polkadot's commitment to innovation and expansion, signaling a positive outlook for the protocol's future in the blockchain industry.

Polkadot, a leading blockchain protocol, has made significant strides in enhancing its network performance, notably increasing transaction processing speed and capacity. The protocol recently enabled Asynchronous Backing on its network, an optimized approach for validating parachain blocks by the Relay Chain. This upgrade has resulted in blocks being produced twice as fast and a 6-10 times increase in available block space. The team stated that this enhancement boosts throughput by 8x, without compromising security, making it a promising development for Web3 applications across various sectors, including DeFi and gaming.

In other news, Polkadot is reportedly exploring a potential $8.8 million sponsorship deal with American soccer club Inter Miami. This would mark Polkadot's second attempt to penetrate the soccer world, following a previous bid to become FC Barcelona's official jersey sponsor. These advancements and potential partnerships underscore Polkadot's commitment to innovation and expansion, signaling a positive outlook for the protocol's future in the blockchain industry.

Disclaimer: Includes thrid-party opinions. No financial advice. May include sponsored content. See T&Cs.
0
Explore the lastest crypto news
⚡️ Be a part of the latests discussions in crypto
💬 Interact with your favorite creators
👍 Enjoy content that interests you
Email / Phone number
Relevant Creator
LIVE
DeFiDynamo
@Square-Creator-4d9133506

Explore More From Creator

In the upcoming US presidential elections, Donald Trump has positioned himself as a pro-crypto candidate, promising to support Bitcoin (BTC) and the crypto mining industry if elected. AI chatbot ChatGPT predicts that Trump's potential victory could spur a BTC price rally, possibly reaching the $100,000 milestone. Trump's proposed increase in Bitcoin mining efforts and his opposition to a Central Bank Digital Currency (CBDC) could positively influence Bitcoin's price. However, ChatGPT also highlights that broader economic conditions such as inflation, geopolitical stability, and monetary policy could significantly impact BTC's valuation. The Federal Reserve's handling of inflation and interest rates could influence the crypto market, potentially increasing interest in risk-on assets like BTC. Despite recent lower-than-expected inflation rates, the Fed's decision to maintain current rates led to a BTC price decline. This news is not directly related to DeFi or BRC 20.
--
Blockchain intelligence firm TRM Labs reports a significant increase in cryptocurrency deposits to Chinese drug precursor manufacturers in early 2024, more than doubling compared to the same period in 2023. In 2023, these networks received over $26 million in cryptocurrency, with 97% of the 120 manufacturers studied offering payment options in digital currencies. Bitcoin remains the dominant cryptocurrency for these transactions, accounting for approximately 60% of the total payment volume. The TRON blockchain saw about 30% of transactions, while Ethereum was used for roughly 6%. The report also highlighted that 11 manufacturers were responsible for over 70% of all crypto-denominated sales of drug precursors. These manufacturers receive funds from unhosted wallets, cryptocurrency exchanges, and payment services, with their wallets most commonly hosted at exchanges. In addition to cryptocurrencies, Chinese manufacturers also accept fiat currencies through platforms like PayPal, MoneyGram, Western Union, and traditional bank transfers. The report revealed that Chinese drug precursor manufacturers mainly target countries including Canada, the Netherlands, Australia, Germany, and the United States. China's role in the global illicit fentanyl trade has been highlighted, with the country manufacturing over 97% of the precursors used.
--
In the latest Bitcoin price analysis, the cryptocurrency has failed to hold above the $66K mark, indicating a correction phase. Despite this, optimism remains as the bull market may not be over yet. The Relative Strength Index (RSI) has dropped below 50%, suggesting a bearish momentum and a possible decline towards the $60K support zone. However, the 4-hour chart presents a more positive picture, with the price consolidating within a horizontal channel. Despite a recent dip below the channel, the price quickly rebounded. If the price remains within the channel, it could test the upper boundary around $72K. Conversely, if the channel breaks down, a drop towards $60K could be imminent. Despite the current correction, the market outlook remains positive.
--
Ethereum's recent rally has stalled, unable to break the $4,000 resistance level. However, the market remains optimistic for a potential bullish recovery. In the past two weeks, the ETH/USDT price has been on a short-term downtrend after being rejected from the $4,000 mark. The $3,500 level is currently acting as a support, preventing further decline. A bearish breakout could see the price drop towards $3,000 and the 200-day moving average. This is a crucial area as a further drop could alter the overall trend. However, the 4-hour chart shows a potential rebound from the $3,500 support zone. A falling wedge pattern has formed and broken above, indicating a bullish reversal. If the market can surpass the recent high of $3,650, a rally back to the $4,000 resistance zone is likely. With the RSI climbing back above 50%, a bullish scenario seems more probable. Despite the recent dip, the market remains hopeful for Ethereum's recovery.
--
Despite a challenging week for the crypto market, Ethereum (ETH) maintains a bullish outlook. After a 4.4% loss, it's now resting at a key support level of $3,500. However, the recent pullback could be a normal retest following the ETF confirmation. As long as the price stays above $3,500, the market sentiment remains optimistic. The price continues to make higher lows on the weekly chart, indicating a bullish trend. Ripple (XRP) and Polkadot (DOT) are currently in a bearish phase. XRP closed the week with a 4% loss after being rejected by the 54 cents resistance. Similarly, DOT failed to break the $7.6 resistance and fell by 5.5%. Both cryptocurrencies need to break their respective key resistances to regain buying interest. Cardano (ADA) and Dogecoin (DOGE) also experienced losses this week. ADA's price fell by 6.5% and DOGE by 7.4%. However, ADA's key support at 37 cents and DOGE's at 13.5 cents could potentially halt their downtrends. Despite the short-term bearish outlook, the long-term perspective for the crypto market remains positive. The market's resilience and potential for recovery continue to attract investors.
--

Latest News

Base Announces 13th Batch of Base Builder Grants Winners
--
SEC Commissioner Acknowledges Potential Benefits of Asset Tokenization
--
Ethereum Whales Accumulate Over 700,000 ETH in Three Weeks
--
MetaVirus Project on NexGami Platform Successfully Raises $2 Million in 20 Minutes
--
Solana Sandwich Bot Earns Over $30 Million Through MEV Arbitrage
--
View More
Sitemap
Cookie Preferences
Platform T&Cs
Sitemap
Platform T&Cs
ba-one-trust-cookie