NEAR Protocol’s market capitalization is approaching its yearly high, reflecting a substantial increase in interest and investment. This bullish trend indicates strong momentum, but resistance around the $9 billion mark due to repeated selling pressure poses a notable challenge.

NEAR Protocol Market Cap Analysis

NEAR Protocol, a layer-1 blockchain known for its focus on scalability and developer-friendly features, has seen its market cap climb steadily.&middot

For the full story, head over to TheCurrencyAnalytics.com.

According to Foresight News, REtokens, a company specializing in the tokenization of real estate assets, is currently tokenizing $30 million worth of real estate assets on the Layer 1 blockchain network, Polymesh. The real estate assets being tokenized include apartment buildings and townhouse projects located in the United States.

Polymesh, a Layer 1 blockchain, is facilitating the tokenization process. This move marks a significant step in the integration of blockchain technology into the real estate sector. The tokenization of these assets will allow for increased liquidity and accessibility, potentially transforming the way real estate transactions are conducted.

REtokens is at the forefront of this innovative approach, leading the way in the tokenization of real estate assets. The company's current project involves a diverse range of properties, further demonstrating the versatility and potential of this technology in the real estate market.

On May 21, 2024, the Avalanche (AVAX) coin saw a 12% jump, hitting $41.02, according to CoinMarketCap. This uptick came after Avalanche announced the successful tokenization of the Wine Capital Fund by Oasis Pro, now listed on ATS via the Avalanche C-Chain.

While the current price is far from its peak of $146.22 in 2021, it still marks a significant achievement. In March 2024, AVAX surged by 34% within a week. As of May 21, 2024, AVAX held the 11th spot among top cryptocurrencies, with a market cap exceeding $15.56 billion. What’s next for Avalanche? Will the cryptocurrency keep rising or rebound fast? What factors affect its price, and what is the AVAX prediction for the short and long term? Let’s explore these questions.

Table of Contents

What is Avalanche (AVAX)?

Main drivers of AVAX growth

Avalanche price analysis

FAQs

What is Avalanche (AVAX)?

Avalanche is a crypto venture spearheaded by software engineer Emin Gun Sirer, alongside Kevin Sekniqi and Maofan “Ted” Yin. Launched in the autumn of 2020, Avalanche operates as a Layer-1 blockchain, boasting smart contract capabilities. Its debut marked it as a contender against Ethereum, positioning itself to rival the established network.

AVAX is Avalanche’s native token. It is used for paying fees and staking and serves as the main currency within the network.

Main drivers of AVAX growth

What drives AVAX’s price? Here are a few factors contributing to the altcoin’s rise.

Heightened engagement from prominent AVAX holders. Based on insights from the analytics platform IntoTheBlock, the daily trading volume of substantial transactions on the blockchain surpassed $670.35 million over the past week.

Using Avalanche blockchain for GameFi projects to merge online gaming with decentralized finance (DeFi).

The recent surge in the cryptocurrency market and the rise of major coins like BTC and ETH. On May 21, 2024, the cryptocurrency market capitalization hit $2.62 trillion.

What will the Avalanche crypto price prediction be for the near future and beyond?

Avalanche price analysis

What’s on the horizon for AVAX in the near term? 

AVAX coin price prediction: short-term outlook

AVAX forecast suggests it’s expected to rise to $47.49 in May 2024, with a projected minimum of $36.34 and a maximum of $58.64, according to Changelly. 

Coincodex also predicts short-term growth, with AVAX expected to reach $46.44 by May 25. 

Conversely, Wallet Investor offers a less optimistic short-term outlook, suggesting a maximum potential price of $36.8 for AVAX by the end of May. 

But what lies ahead for AVAX in the long term? What is the AVAX coin future and 5-year price?

Avalanche price prediction 2024

According to Changelly, in 2024, the technical analysis suggests that the maximum level of Avalanche price will be $100.22. 

AVAX price prediction 2025

Based on previous years’ price trends, it’s assumed that in 2025, the minimum price of Avalanche will be around $68.16, while the maximum expected price could reach $81.91.

Avalanche price prediction 2030

Cryptocurrency experts expect the AVAX token to trade between $478.7 and $567.06 in 2030.

Coincodex perspective

Coincodex forecasts suggest that by 2025, AVAX could see a price range from $35.81 to $166.94, with potential fluctuations. Looking further ahead to 2030, predictions indicate a range between $87.8 and $142.36, hinting at substantial gains if AVAX reaches the upper echelon of these estimates.

Wallet Investor insights

Wallet Investor predicts that by the end of 2024, AVAX’s maximum price is expected to reach only $81.76. However, it’s anticipated to increase to $117.6 by the end of 2025.

FAQs

Is Avalanche a good investment?

Avalanche (AVAX) shows promising potential as an investment. With its innovative decentralized finance (DeFi) approach, AVAX presents growth opportunities. Moreover, positive Avax future price expectations for both the short and long term make AVAX an attractive option for investors seeking to diversify their portfolios. Before putting your money into anything, consider how much risk you’re okay with and what you want to accomplish financially.That way, you can make choices that fit your investment goals.

Will Avalanche coin go up or down?

The future value of the Avalanche (AVAX) coin relies on several factors, including market trends, technological advancements, and investors’ feelings about it. While there are moments when it seems like the price might rise, the market’s unpredictability means it could also fall. Like any investment, it’s smart to stay updated on what’s happening, know your comfort level with risk, and think carefully before making decisions.

Should I invest in Avalanche?

Investing in Avalanche (AVAX) could be a smart move, but it’s not without its risks. Before diving in, do your homework and consider how much risk you’re comfortable with and what you want to achieve with your investment. It’s also a good idea to talk to a financial advisor who can give you personalized advice based on your situation.

According to Odaily, David Hoffman, the founder of Bankless, has reported on platform X that the number of daily active addresses on Arbitrum has exceeded 779,000. This represents a 12% increase within 24 hours, placing Arbitrum at the top of Layer 2 (L2) networks.

Arbitrum, a Layer 2 scaling solution, has been gaining traction due to its ability to handle a higher volume of transactions, thereby reducing congestion and fees on the Ethereum network. The surge in daily active addresses indicates a growing user base and increased activity on the platform.

David Hoffman's report on platform X highlights the rapid growth and popularity of Arbitrum among users. The 12% increase in daily active addresses within a single day demonstrates the platform's growing appeal and its position as a leader among L2 networks. The data suggests that more users are turning to Arbitrum for its scalability solutions, contributing to its rise in the rankings.

However, it's important to note that while Arbitrum's growth is impressive, the landscape of Layer 2 solutions is competitive and constantly evolving. Other platforms may also experience similar growth in the future. Therefore, it remains to be seen whether Arbitrum can maintain its leading position in the long term.

Binance Labs, the venture capital and incubation arm of Binance, has recently invested in Aevo, a decentralized derivatives exchange platform. This strategic investment aims to foster advancements in Layer 2 (L2) blockchain technology.
Aevo: A New Era for Derivatives Trading
Aevo, formerly known as Ribbon Finance, emerged from the RGP-33 governance proposal with a revamped focus on delivering comprehensive derivatives trading. The platform supports perpetual trading, pre-launch futures, and options, all within a single margin account. Leveraging the OP Stack, Aevo utilizes an off-chain order book combined with on-chain settlement on Ethereum, enhanced by Celestia for improved scalability.
Stellar Performance and Ambitious Roadmap
Aevo has showcased impressive metrics, recording $80 billion in derivatives volume year-to-date and generating $30 million in fees, with approximately 50,000 monthly active users. The future looks promising as Aevo plans to introduce vault strategies, yield products, and a staking mechanism. Additionally, the platform will enable decentralized applications (dApps) to deploy on Aevo L2, broadening its ecosystem.
Binance Labs: A Powerhouse of Innovation
Binance Labs plays a pivotal role in the blockchain industry with a diverse portfolio valued at over $10 billion, encompassing 250 projects across 25+ countries. Known for its successful incubation programs, Binance Labs has a remarkable return on investment rate of over 14X, with 50 portfolio companies emerging from these programs.
By investing in Aevo, Binance Labs reinforces its commitment to accelerating blockchain innovations and supporting projects that push the boundaries of decentralized finance. The collaboration between Aevo and Binance Labs marks a significant step towards the future of derivatives trading and L2 blockchain technology.

#BinanceLabs #aevo #Layer2 #L2

The market has been quite chaotic over the last couple of weeks. Bitcoin (BTC) fell by 23% but has been gaining positions during the last week. As always, Bitcoin is the driver of the crypto space; once it moves, we can expect the rest of the coins to start gaining momentum.

The exceptions, as always, are new projects. The launch of Notcoin, a tokenized equivalent of game points that people were collecting on a Telegram game, was eagerly awaited by more than 5 million people. However, as we can see in the graphic, it followed a typical pattern for new projects: a huge spike followed by a sell-off. This is when market makers primarily generate revenue. After this initial phase, we typically see a steady decline in price as market makers consolidate their positions before the next possible move. We can expect the price to drop to around 0.0035. It’s likely we will see frequent pumps and dumps with this asset.

For those looking for a more stable but steadily growing portfolio, I would suggest focusing on Layer 1 (L1) and Layer 2 (L2) tokens, as their potential to rise is quite significant over the next couple of weeks, assuming Bitcoin continues its climb towards all-time highs.

Now, let’s review some potential tokens that are consolidating at the bottom and have not yet started their upward movement. Here are a few interesting options: Arbitrum, Aptos, Sui, and Vara. We can see that the tokens of all these projects have reached support levels and are now rebounding. But which one of them has the most potential?

Please note, this is not investment advice. I am merely analyzing the information the graphics provide.

Arbitrum

ARB dropped 60.66% from the local high when this correction started. We can see it had a false breakout with two candles, but there was no impulse, and it is once more consolidating near the level of 0.8981. If there is no rebound in the next two days, it is highly likely we will see ARB’s price drop to 0.7705.

Aptos

APT dropped 62% during this correction. It is highly likely that we will still see it go down to 7.3, with a significant possibility of a false breakout. Thus, in the next couple of days, a downtrend is highly probable, with consolidation around the level of 7.34, including a false breakout towards the level of 6.78.

Sui

SUI experienced a drop close to 60%, similar to its peers, but managed to stop at 59.37%. It had a nice rebound at the level of 0.8856 and is showing good bullish signals. This token is definitely worth watching.

Vara network

VARA proved to be one of the strongest tokens among its peers, dropping just 51.26%. It is consolidating around 0.07753, and as we can see, we can expect a rebound towards the level of 0.099 over the next couple of days. Vara has shown strong impulse movements and a steadier downtrend. So, while this is not investment advice, this token should definitely be on our watch list.

In conclusion, I would closely monitor VARA, as it has significant potential and appears to be underestimated by the market for now. SUI also looks promising with its rising possibilities.

Grand Cayman, Cayman Islands, May 21st, 2024, Chainwire

Set to hit Mainnet this summer, Sui’s new Mysticeti protocol cuts consensus latency down to 390 ms.

Sui, the pioneering Layer 1 blockchain that offers industry-leading performance and infinite horizontal scaling, today announced the successful deployment of Mysticeti, its latest consensus protocol, on Sui Testnet. This significant breakthrough reduces consensus time on Sui’s public Testnet by 80 percent at 390 milliseconds while maintaining the protocol’s industry-leading throughput. This impressive demonstration confirms that Sui is the fastest consensus layer in the industry.

Developed from deep research into Byzantine fault tolerance (BFT) consensus mechanisms, Mysticeti represents a significant advancement from Narwhal-Bullshark, the consensus algorithms Sui launched into its Mainnet a year ago, achieving unprecedented transaction speeds and reducing CPU requirements for validators. This enhancement extends Sui’s impressive low latency performance to all transaction types across the network.

Sui’s uniquely object-oriented architecture enables the network to process transactions differently based on the characteristics of the transaction and the objects involved. On Sui, transactions involving only “owned objects”, such as peer-to-peer transfers, do not require consensus. Instead, they follow a fast-path execution that can be completed in a shorter time. In contrast, transactions involving the same shared object, for example, transactions involving marketplaces, auctions or collaborative game assets, do require consensus. In the past, that meant more processing latencies. Mysticeti changes that, by processing shared object transactions using an optimized version of BFT consensus. The Mysticeti design involves minimal cross-validator communication and fully takes advantage of network bandwidth in order to maintain high throughput.

“Mysticeti represents a major leap forward, not just for Sui but for blockchain technology as a whole,” said George Danezis, Co-founder and Chief Scientist of Mysten Labs which originated the Sui Network and pioneer of global research on BFT consensus. “It reduces consensus latency to what we understand to be its lower limits while retaining the benefits of high capacity and low computation cost. It also allows transaction processing faster than consensus within the same protocol, a feature unique to Sui. Mysticeti is yet another instance of Sui pushing the boundaries of what blockchain technology can achieve.”

Results on Testnet have been remarkable, demonstrating the capability to commit transactions with an 80% reduction in latency compared to Narwhal. The enhancement implemented by Mysticeti significantly decreases complexity and optimizes resource use, allowing the Sui network to handle tens of thousands of transactions per second with latencies well below one second.

These advancements are critical as Sui continues to cement its position at the pinnacle of blockchain speed and scale, and provide a seamless experience for developers and users at scale. 

“Mysticeti’s launch is the result of a successful collaboration between research, engineering, and our validator community,” said Dmitri Perelman, Head of Engineering at Mysten Labs. “The lessons we learned from building and tuning previous-generation consensus in production provided the context and inspiration for the researchers to come up with the new protocol. After the first Mysticeti prototype demonstrated undeniable performance superiority, the engineering team was fully onboard and the next-gen consensus implementation is being rolled out to Mainnet with the support of validators in a matter of months.”

Kevin Nelson, Co-Founder of Aftermath Finance said, “With Mysticeti, Mysten has proven that the DAG-based structure can surpass state-of-the-art performance in both consensus throughput and, importantly, latency. At Aftermath, we are excited to see Mysticeti roll out on testnet and even more excited for when it will touch the hands of our users with its release on Mainnet. Moreover, we are looking forward to taking advantage of Mysticeti’s new design to provide a better end-to-end experience on Aftermath.”

Greg Siourounis, Sui Foundation Managing Director added, “Low latency and fast transaction speeds have always been fundamental to Sui’s value as a top choice for builders, and with Mysticeti, the developer experience gets even better. This breakthrough once again showcases an ongoing and relentless focus on innovation, unlocking new possibilities for the types and quality of decentralized applications that can be built on Sui.”

The key innovations of Mysticeti are detailed in the newly published paper, “Mysticeti: Low-Latency DAG Consensus with Fast Commit Path,” which shows the scalability of this new technology and is available for review.

Contact

Sui Foundationmedia@sui.io

The post Sui Sets New Standard for Blockchain Transaction Speeds appeared first on BitcoinWorld.

Grand Cayman, Cayman Islands, May 21st, 2024, Chainwire

Set to hit Mainnet this summer, Sui’s new Mysticeti protocol cuts consensus latency down to 390 ms.

Sui, the pioneering Layer 1 blockchain that offers industry-leading performance and infinite horizontal scaling, today announced the successful deployment of Mysticeti, its latest consensus protocol, on Sui Testnet. This significant breakthrough reduces consensus time on Sui’s public Testnet by 80 percent at 390 milliseconds while maintaining the protocol’s industry-leading throughput. This impressive demonstration confirms that Sui is the fastest consensus layer in the industry.

Developed from deep research into Byzantine fault tolerance (BFT) consensus mechanisms, Mysticeti represents a significant advancement from Narwhal-Bullshark, the consensus algorithms Sui launched into its Mainnet a year ago, achieving unprecedented transaction speeds and reducing CPU requirements for validators. This enhancement extends Sui’s impressive low latency performance to all transaction types across the network.

Sui’s uniquely object-oriented architecture enables the network to process transactions differently based on the characteristics of the transaction and the objects involved. On Sui, transactions involving only “owned objects”, such as peer-to-peer transfers, do not require consensus. Instead, they follow a fast-path execution that can be completed in a shorter time. In contrast, transactions involving the same shared object, for example, transactions involving marketplaces, auctions or collaborative game assets, do require consensus. In the past, that meant more processing latencies. Mysticeti changes that, by processing shared object transactions using an optimized version of BFT consensus. The Mysticeti design involves minimal cross-validator communication and fully takes advantage of network bandwidth in order to maintain high throughput.

“Mysticeti represents a major leap forward, not just for Sui but for blockchain technology as a whole,” said George Danezis, Co-founder and Chief Scientist of Mysten Labs which originated the Sui Network and pioneer of global research on BFT consensus. “It reduces consensus latency to what we understand to be its lower limits while retaining the benefits of high capacity and low computation cost. It also allows transaction processing faster than consensus within the same protocol, a feature unique to Sui. Mysticeti is yet another instance of Sui pushing the boundaries of what blockchain technology can achieve.”

Results on Testnet have been remarkable, demonstrating the capability to commit transactions with an 80% reduction in latency compared to Narwhal. The enhancement implemented by Mysticeti significantly decreases complexity and optimizes resource use, allowing the Sui network to handle tens of thousands of transactions per second with latencies well below one second.

These advancements are critical as Sui continues to cement its position at the pinnacle of blockchain speed and scale, and provide a seamless experience for developers and users at scale. 

“Mysticeti’s launch is the result of a successful collaboration between research, engineering, and our validator community,” said Dmitri Perelman, Head of Engineering at Mysten Labs. “The lessons we learned from building and tuning previous-generation consensus in production provided the context and inspiration for the researchers to come up with the new protocol. After the first Mysticeti prototype demonstrated undeniable performance superiority, the engineering team was fully onboard and the next-gen consensus implementation is being rolled out to Mainnet with the support of validators in a matter of months.”

Kevin Nelson, Co-Founder of Aftermath Finance said, “With Mysticeti, Mysten has proven that the DAG-based structure can surpass state-of-the-art performance in both consensus throughput and, importantly, latency. At Aftermath, we are excited to see Mysticeti roll out on testnet and even more excited for when it will touch the hands of our users with its release on Mainnet. Moreover, we are looking forward to taking advantage of Mysticeti’s new design to provide a better end-to-end experience on Aftermath.”

Greg Siourounis, Sui Foundation Managing Director added, “Low latency and fast transaction speeds have always been fundamental to Sui’s value as a top choice for builders, and with Mysticeti, the developer experience gets even better. This breakthrough once again showcases an ongoing and relentless focus on innovation, unlocking new possibilities for the types and quality of decentralized applications that can be built on Sui.”

The key innovations of Mysticeti are detailed in the newly published paper, “Mysticeti: Low-Latency DAG Consensus with Fast Commit Path,” which shows the scalability of this new technology and is available for review.

Contact

Sui Foundationmedia@sui.io

Grand Cayman, Cayman Islands, May 21st, 2024, Chainwire

Set to hit Mainnet this summer, Sui’s new Mysticeti protocol cuts consensus latency down to 390 ms.

Sui, the pioneering Layer 1 blockchain that offers industry-leading performance and infinite horizontal scaling, today announced the successful deployment of Mysticeti, its latest consensus protocol, on Sui Testnet. This significant breakthrough reduces consensus time on Sui’s public Testnet by 80 percent at 390 milliseconds while maintaining the protocol’s industry-leading throughput. This impressive demonstration confirms that Sui is the fastest consensus layer in the industry.

Developed from deep research into Byzantine fault tolerance (BFT) consensus mechanisms, Mysticeti represents a significant advancement from Narwhal-Bullshark, the consensus algorithms Sui launched into its Mainnet a year ago, achieving unprecedented transaction speeds and reducing CPU requirements for validators. This enhancement extends Sui's impressive low latency performance to all transaction types across the network.

Sui’s uniquely object-oriented architecture enables the network to process transactions differently based on the characteristics of the transaction and the objects involved. On Sui, transactions involving only “owned objects”, such as peer-to-peer transfers, do not require consensus. Instead, they follow a fast-path execution that can be completed in a shorter time. In contrast, transactions involving the same shared object, for example, transactions involving marketplaces, auctions or collaborative game assets, do require consensus. In the past, that meant more processing latencies. Mysticeti changes that, by processing shared object transactions using an optimized version of BFT consensus. The Mysticeti design involves minimal cross-validator communication and fully takes advantage of network bandwidth in order to maintain high throughput.

“Mysticeti represents a major leap forward, not just for Sui but for blockchain technology as a whole,” said George Danezis, Co-founder and Chief Scientist of Mysten Labs which originated the Sui Network and pioneer of global research on BFT consensus. “It reduces consensus latency to what we understand to be its lower limits while retaining the benefits of high capacity and low computation cost. It also allows transaction processing faster than consensus within the same protocol, a feature unique to Sui. Mysticeti is yet another instance of Sui pushing the boundaries of what blockchain technology can achieve.”

Results on Testnet have been remarkable, demonstrating the capability to commit transactions with an 80% reduction in latency compared to Narwhal. The enhancement implemented by Mysticeti significantly decreases complexity and optimizes resource use, allowing the Sui network to handle tens of thousands of transactions per second with latencies well below one second.

These advancements are critical as Sui continues to cement its position at the pinnacle of blockchain speed and scale, and provide a seamless experience for developers and users at scale. 

“Mysticeti's launch is the result of a successful collaboration between research, engineering, and our validator community,” said Dmitri Perelman, Head of Engineering at Mysten Labs. “The lessons we learned from building and tuning previous-generation consensus in production provided the context and inspiration for the researchers to come up with the new protocol. After the first Mysticeti prototype demonstrated undeniable performance superiority, the engineering team was fully onboard and the next-gen consensus implementation is being rolled out to Mainnet with the support of validators in a matter of months.”

Kevin Nelson, Co-Founder of Aftermath Finance said, “With Mysticeti, Mysten has proven that the DAG-based structure can surpass state-of-the-art performance in both consensus throughput and, importantly, latency. At Aftermath, we are excited to see Mysticeti roll out on testnet and even more excited for when it will touch the hands of our users with its release on Mainnet. Moreover, we are looking forward to taking advantage of Mysticeti's new design to provide a better end-to-end experience on Aftermath.”

Greg Siourounis, Sui Foundation Managing Director added, “Low latency and fast transaction speeds have always been fundamental to Sui's value as a top choice for builders, and with Mysticeti, the developer experience gets even better. This breakthrough once again showcases an ongoing and relentless focus on innovation, unlocking new possibilities for the types and quality of decentralized applications that can be built on Sui.”

The key innovations of Mysticeti are detailed in the newly published paper, "Mysticeti: Low-Latency DAG Consensus with Fast Commit Path," which shows the scalability of this new technology and is available for review.

Disclaimer. This is a paid press release.