Waves 2.0 Litepaper Buoys WAVES; Polygon Proposes New Hard Fork
Show More
Quickly grasp the article's content and gauge market sentiment in just 30 seconds!
Daily Top Mover — Waves (WAVES)
U.S. December CPI print meets the expectation as the Nasdaq managed to notch a five-day gaining streak. S&P 500 failed to climb above 4,000, a key psychological level, signaling the bullish momentum may take a breather before its next upward breakout. Meanwhile, the broader cryptocurrency market followed the footstep of equities, with Bitcoin up 2.67%, in the past 24 hours. The top mover for today, WAVES, which registered a 24-hour return of 8.75%, as of the time of writing, has outperformed the market, due to anticipation of Waves 2.0 Litepaper.
WAVES is the native token of the Layer 1 blockchain Waves. Waves sets itself apart by its popular token creation features, designed to enable users to create custom tokens for low transaction fees quickly. However, Waves’ market share in terms of TVL has plummeted from 1.2% in May 2022 to 0.2% as of the time of writing due to the growing dominance of Ethereum. The recent outperformance came as Waves founder Sasha tipped an upcoming release of Waves 2.0 Litepaper, airdrop of a new DAO token, and a new token bridge on Twitter. As Waves 2.0 has been discussed by the community for a while, the airdrops of a new governing Power DAO may be the actual driver of the token surge.
What’s more, a revamp on USDN announced last week, which will transform USDN from an algorithmic USD-pegged stablecoin to a floating and collateralized one, may have quelled investors’ concerns about the ecosystem’s sustainability. Last but not least, the outstanding performance of the largest protocol on the network, Vires Finance, has seen its TVL spike by 48% in a month, sending a tailwind to the adoption of Waves.
Check Out the Latest Prices, Charts, and Data for WAVES/USDT!
Talk of the Town
Ethereum Layer 2 solution, Polygon, proposed a hard fork on the Polygon PoS chain to address gas spikes and chain reorganizations. The software upgrade, if approved, will take place on Jan 17, 2023. Gas fees used to spike irrationally during peak demand. Although this issue is unavoidable, the upgrade will align with Ethereum’s enhanced mechanism after the London upgrade. In addition, Polygon aims to address frequent reorganizations by reducing the block finality time. With $450 million in funding raised before the bear market kicks in, Polygon is one of the resourceful blockchains to continuously launch new products and upgrades amid an extended crypto winter.
Check out what else is buzzing in the crypto scene today:
UAE investor groups launch $1 billion Web3 fund, Venom Ventures Fund. (Link)
El-Salvador approves Bitcoin volcano bonds. (Link)
StarkWare rolls out open-source client Papyrus for StarkNet. (Link)
Nexo office in Bulgaria is raided by investigators on suspicion of money laundering. (Link)
Grab Up to 5,000 USDT in Rewards
Get additional 50 USDT welcome gift instantly when you sign up today.