Cardano
Crypto News Digest by U.Today
Read U.Today’s news digest so you don’t miss out on the latest crypto news!
The past weekend brought lots of significant updates to the crypto industry. Let’s dive deeper into the details with U.Today’s top four news stories.
Cardano’s IOG gives lowdown on Vasil hard fork progress
With only one week left until the tentative date for the Vasil mainnet launch, the IOG team has shared an update on the hard fork’s advances. The IOG team progressed to working on node v.1.35.1, which fixes an issue with snapshot replay. Cardano testnet explorer and other dependencies also saw upgrades following the new node. Work has also progressed on pipelining maintainability and the addition of tests for added confidence and regression prevention. Meanwhile, IOG is working on the upcoming release of node v.1.35.2, which aims to bring improvements and fix bugs found in the previous node versions during Vasil testing.
Anthony Scaramucci admits his Bitcoin mistake
SkyBridge founder Anthony Scaramucci has recently confessed to a CNBC host that, looking back, he believes that betting big on Bitcoin was a “mistake” from a short-term perspective. However, in the long term, Scaramucci remains bullish on the largest cryptocurrency, saying that in his opinion, the Fed could switch its policy stance by the end of the year. During a recent interview, the investor noted that there has been an “exponential” increase in the number of Bitcoins. It is hard for “Mooch” to believe that cryptocurrencies will not be part of the future.
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Cardano reaches new milestone: 1,760 days without outages
Cardano celebrates another uptime milestone. Unlike networks that face outages every now and then, the blockchain has been working smoothly for almost five years (or 1,760 days), despite many periods of extremely high loads. Cardano owes its smooth performance to being one of the most actively developed chains in the whole industry, with the number of GitHub commits for the project reaching 350 back in June. Such high development activity is also tied to a lack of existing technologies and solutions on the network, which makes it an unplowed field for developers who bring their decentralized solutions from other networks to Cardano.
XRP remains ahead of other altcoins, reaching big milestones this week
According to Santiment, over the past week, XRP token has reached a few big milestones, with one of them being several primary active wallets beginning to move their coins. In addition to this, a few large dormant XRP wallets have also started shifting their XRP stashes. Meanwhile, WhaleAlert tracker spotted a total of 374.5 million XRP transferred on Thursday, July 21, with the largest chunk of crypto equaling 155,000,000 tokens. In this streak of transfers, FTX moved 63,501,812 coins to BitGo, and Bitstamp moved 46,075,670 XRP to the same destination. Also, major U.S. exchange Bittrex moved 60,000,000 and 50,000,000 to Bitstamp and Bitso, respectively. The aforementioned 150-million XRP transfer was conducted from Binance to Bittrex.
Popular Cardano-based decentralized exchange WingRiders has lost its position as the most valuable DEX on Cardano.
WingRiders slumped from the first position to third after losing more than 59% of the total value locked (TVL) on the platform in the past 30 days.
At the time of writing this line, WingRiders is now the third-largest DEX by total value locked, with a TVL of $19.66 million. It is noteworthy that WingRiders maintained the top spot for more than two months, claiming 42% of TVL On Cardano. However, the DEX has fallen from glory ever since.
Minswap Is Now Cardano’s Most Valuable DEX
The development also affected the total value locked on Cardano. The total value locked on Cardano has fallen below $100 million in the last 30 days after the WingRiders TVL slumped.
Interestingly, Minswap has taken the lead to become the most valuable decentralized exchange on Cardano after the massive decline of WingRiders’ TVL.
At press time, Minswap is leading, with a $49.09 million total value locked on the platform. The DEX hit the milestone after recording a massive growth of 30.9% in its TVL in the past 30 days. Minswap accounts for 51.82% of the total value locked on Cardano.
SundaeSwap, the first decentralized exchange on Cardano, is now the second most valuable DEX in the ecosystem. SundaeSwap is second in the ranking, with $19.72 million in TVL.
Like WingRiders, SundaeSwap has also lost a significant amount of its TVL over the past 30 days. In the past month, SundaeSwap has lost nearly 10% of the funds locked on the platform.
Commenting on the development, Cardano Daily, a platform that shares new developments about Cardano, said:
“After the major decline of @wingriderscom, the TVL scenario of the Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem.”
CARDANO TVL STATUS
After the major decline of @wingriderscom, the TVL scenario of the @Cardano ecosystem has stabilized back to normal as we have seen in the past few weeks. @MinswapDEX still led the ecosystem with $51M TVL, contributing 50% of the ecosystem#tvl #cardano $ADA pic.twitter.com/xjZ6cHo8jX
— Cardano Daily (@cardano_daily) August 9, 2022
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Tulip Protocol Officially Integrates Chainlink on Solana Mainnet
