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 stats for the week…
Binance confirms Solana network congestion issue
Binance, the world’s largest cryptocurrency exchange, discussed 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.
Binance：Solana network is currently experiencing congestion due to an increase in high compute transactions, which is reducing its network capacity to several thousands of transactions per second and leading to some failed transactions for users. https://t.co/ZBT6aPYuzU
— Wu Blockchain (@WuBlockchain) January 11, 2022
Crypto.com price dropped 20% in one week
Crypto.com price has 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 Standardollarsari Authority banned two ads by Crypto.com 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 Yellow Authority (ASA), has banned two Crypto.com ads for labeling them as misleading and irresponsible.
Andre Cronje has 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 unlock a token and in turn earn incentive tokens as a reward. Details can be found in the tweet below.
https://twitter.com/AndreCronjeTech/status/1480555590883622913
Kim Kardashian, Floyd Mayweather and Paul Pierce due to Ethereum Max Promotion being sued. As per the development, the Ethereum Max price peaked on May 31, 2021 before dropping 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 featuring National Football League (NFL) star Dez Bryant and his stats becoming NFT collection via Chainlink Bryant shared that amik 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 registered a trading volume of 30.3 ETH (approximately $92,000 at press time).
LinksDAO NFT collection base price, Golden State Warriors Stephen “Steph” Curry 0.29 ETH (892.13 dollars) and 1.12 ETH respectively It rose today after it purchased the “Leisure Membership” and “LinksDAO Global Membership” NFTs for ($3,442.89). Curry’s purchase helped raise the price of the first to 0.72 ETH ($2,209.81). LinksDAO Global Membership NFT was last sold for 2 ETH ($3,111.91).
Welcome to LinksDAO, @StephenCurry30 – See you on the 1st tee! ⛳️
— LinksDAO (@LinksDAO) January 10, 2022
The altcoin project has completed its goal of “1 million trees”
The Cardano Foundation said over the weekend that a restoration project using Cardano (ADA) has met its initial goal of planting more than 1 million trees. 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.
What an achievement! The #CardanoForest is 100% funded, we’ve reached the 1 million trees milestone. The success of this first Cardano Global Impact Challenge for the Cardano Ecosystem truly shows the power of our community.
— Frederik Gregaard (@F_Gregaard) January 9, 2022
Gary Gensler, in a CNBC interview today refused to confirm or deny whether it thought it was a security. 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 chairman said, “I won’t talk about anything,” adding that the SEC “doesn’t 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 on Plonky2 takes 170 milliseconds on a fast computer like a Macbook Pro.
- Plonky2 also allows users to speed up candollarization times for non-recursive candollarsars.
- Plonky2 is natively compatible with Ethereum. Plonky2 only requires keccak-256 to validate the proof.
1/5 Proud to present #Plonky2 – the world's fastest ZK scaling technology, built by @0xPolygonZero! 💫
Plonky2 is a recursive SNARK that is 100x faster than existing alternatives and natively compatible with #Ethereum.
A 🧵 on why this is exciting… pic.twitter.com/bGOdtyqwM4
— Polygon 💚 (@0xPolygon) January 10, 2022
Altcoin project Pledge Finance strategically recruits Brian Brooks He joins the project team as a consultant. A Harvard graduate, Brian is recognized as one of the most influential U.S. Currency Controllers, as he gave the 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. 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.
According to data provided by Etherscan and posted by Twitter user Shibburn on his page, over 7.1 million Shiba Inu tokens have been demolished and permanently removed from circulation in the past 24 hours. So far, 410.3 trillion SHIBs have been permanently removed from circulation, out of one quadrillion of the initial supply.
In the past 24 hours, there have been a total of 7,108,679 $SHIB tokens burned and 4 transactions. So far, a total of 410,300,759,850,272 #SHIB tokens (41.03008%) have been burned from the initial supply of 1 quadrillion. #shibarmy
— Shibburn (@shibburn) January 11, 2022
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