Hey Degens, here is TL;DR for today:
- Solana Validators to make Second Restart Attempt as Transaction Freeze Drags On
- $XRP Ledger Developers Unveil Proposal That Could ‘Significantly Expand’ Its Use Cases
- Sudoswap: Cumulative trading volume crosses $100m milestone, but user activity has declined consistently
Solana’s second Restart Attempt
The Solana network’s deep freeze continued Saturday as validators were preparing a second restart attempt that they hoped would restore service to users of the blockchain.
A first attempt was abandoned when validators realized they picked the wrong point at which to restart.
The chain’s block production has ceased and transactions aren’t processing or being validated. At press time validators, working in conjunction with developers at Solana Labs, were again attempting to restart the chain and had gotten some 70% of total stake behind the move. The network needs an 80% supermajority to proceed.
Source: Coindesk
$XRP Ledger Developers unveil proposal that could ‘Significantly Expand’ its Use Cases
The proposal was published by Ripple software engineer Mayukha Vadari on GitHub and was subsequently shared on Twitter. It outlines the potential creation of a blockchain bridge.
Late last year Ripple’s chief technology officer David Schwartz said that the XRP Ledger supports “native NFTs” thanks to the XLS-20 standard.
Source: Crypto Globe
Sudoswap: Cumulative trading volume crosses new ATH, but user activity has declined consistently
The cumulative trading volume on the decentralized NFT marketplace has crossed the $100 million milestone. While this remains notable, it is noteworthy to point out that daily trading volume on Sudoswap peaked at $2.3 million on 17 August 2022 and has since been on a downward trend.
Per data from Dune Analytics, the NFT swapping platform has seen a steady fall in the count of new users since August 2022. Similarly, the count of recurring users on the platform has since dipped. The reduced user activity on Sudoswap has led to a corresponding decrease in the number of daily transactions and the count of traded NFTs.
Furthermore, Sudoswap currently registers a steady decline in protocol revenue. The downward trend in transaction volume means there have been fewer users on the platform, resulting in a loss of fees for Sudoswap.
Source: AMB Crypto
Other news and updates:
- The IMF and the U.S. Support India’s Plan to Coordinate Global Crypto Regulation at G20
- Cardano’s Most Hyped NFT Project: Clay Nation announces Integration With The Sandbox (SAND)
- Crypto Accepted By 60% Of Weapons And Equipment Suppliers For Ukraine
- Binance.US Launches Full Support for Shiba Inu (SHIB)
- IMF Directors Issue Crypto Warning, Call for Coordinated Policy Response To Protect Global Monetary System
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