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Sei Launches First Parallelized EVM Blockchain, Price Rallies 8%

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5 months ago

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In an advancement for blockchain technology, Pyth Network has introduced Pyth Price Feeds and Entropy on Sei V2. This new development provides developers on Sei V2, a parallelized Ethereum Virtual Machine (EVM), with over 500 real-time price feeds and a reliable on-chain random number generator. These features aim to enhance the scalability and flexibility of decentralized finance (DeFi) applications.

Sei V2 Enhances Parallelized EVM Blockchain

Sei V2’s architecture is designed to improve the developer experience significantly. It allows the deployment of existing Ethereum (ETH) applications without any modifications, thus offering a seamless transition to a more robust environment. Moreover, the platform claims to deliver a performance improvement of up to 100 times compared to traditional EVMs. This enhancement is crucial as it supports the higher demands of current blockchain applications, including those in DeFi and other high-frequency trading environments.

 

Furthermore, Sei V2 continues to support CosmWasm, which adds to its versatility and appeal. This interoperability is vital for developers looking for a platform that can handle complex operations and offer expanded functionality without compromising on speed or efficiency.

SEI Token Climbs 7% with New Updates

The integration of Pyth Price Feeds on Sei V2 provides developers with access to real-time, low-latency price updates. This capability is essential for applications that rely on timely and accurate data, such as trading platforms and financial analytics tools. The Pyth Network employs a pull oracle architecture, which allows applications to request the necessary data as needed, thereby optimizing resource usage and reducing costs.

 

In addition to price feeds, Pyth Network’s introduction of Entropy brings a secure and dependable source of on-chain randomness. This feature is crucial for developing applications that require unpredictability, such as gaming, lotteries, and prediction markets. By ensuring fair and unpredictable outcomes, Entropy helps enhance trust and user engagement in these applications.

 

Following the launch of these new features, SEI, Sei’s native token, saw a significant price surge, increasing by over 8% to a trading value of $0.5752. The market capitalization also rose by nearly 5.52% to $1,683,533,322. The increase in trading volume by 56.90% reflects a bullish sentiment in the market in the hours ahead.

Also Read: Solana Vote Approves 100% Priority Fee Allocation to Validators

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Maxwell is a crypto-economic analyst and Blockchain enthusiast, passionate about helping people understand the potential of decentralized technology. I write extensively on topics such as blockchain, cryptocurrency, tokens, and more for many publications. My goal is to spread knowledge about this revolutionary technology and its implications for economic freedom and social good.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Peter Brandt Reveals Why SOL Is Ahead

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52 mins ago

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November 7, 2024

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The Solana and Ethereum debate has come up a lot in this market cycle, especially with SOL currently outperforming ETH. Veteran trader Peter Brandt has also weighed in on the conversation and provided insights into why SOL is ahead of ETH from a trader’s perspective.

Why Solana Is Ahead Of Ethereum

In an X post, Peter Brandt mentioned that Solana is breaking out into new highs while Ethereum is “chewing” into overhead resistance. He made this statement while analyzing SOL and ETH’s weekly chart from a trader’s perspective.

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The Solana chart he shared showed that SOL is on the brink of breaking the resistance at $200 and flying past its current all-time high (ATH) of $260. This aligns with a CoinGape analysis, which noted that the Solana price is eyeing $300 as SOL ETF approval odds rise.

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Meanwhile, the Ethereum chart showed that ETH is still ranging and is struggling to break above the $2,800 resistance. However, ETH could still eventually reach new highs as Brandt stated that both altcoins are poised for breakouts to the upside to join Bitcoin. The Ethereum Foundation recently launched the Pectra Testnet, a development that could again inspire confident ETH investors as ETH price eyes $4,000.

For now, Peter Brandt is more bullish on SOL because he favors new highs, which the altcoin is already breaking into.  The veteran trader also remarked that he prefers Solana over Ethereum. According to him, ETH is a “completely broken utility coin” whose complexity and cost of use are terrible.

The Battle For DeFi Dominance

Solana and Ethereum continue to battle for decentralized finance (DeFi) dominance. Recently, the former has topped the latter in decentralized exchange (DEX) volume among chains. However, DeFiLlama data shows that Ethereum may again be looking to reclaim its crown.

In the last 24 hours, Ethereum is number 1 among all networks in terms of DEX volume. The network has witnessed a trading volume of $2.94 billion during this period. Solana is behind with a trading volume of $2.53 billion in the last 24 hours.

However, it is worth mentioning that Solana still leads Ethereum in 7-day trading volume, with $13.61 billion traded on the network during this period. Meanwhile, Ethereum boasts a 7-day volume of $10.99 billion.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across DeFi, NFTs, smart contracts, and blockchain interoperability, among others. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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RCO Finance to Lead in Upcoming Market Rally as Toncoin and Cardano See Further Losses

Published

2 hours ago

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November 7, 2024

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Projects like Toncoin (TON) and Cardano (ADA) have long been popular with investors and are known for their unique innovations and community-driven support. 

However, recent performance trends have sparked concerns about these tokens’ ability to withstand market challenges. Let’s explore the latest on Toncoin and Cardano and why RCOF is attracting a growing number of investors.

Toncoin’s Recent Struggles and Price Forecast

Telegram founder and CEO Pavel Durov appeared in Dubai over the weekend, albeit in spirit. Drawings plugged in a video game inspired by Durov on a giant chalkboard during the annual conference for The Open Network. 

TON has recently seen a significant drop in value, driven by market conditions and the struggles of its tap-to-earn projects like HMSTR. TON trades at $4.78, with forecasts suggesting further struggles unless significant changes or partnerships materialize.

While the TON network remains promising in Web3, analysts caution about its near-term growth due to heavy competition. However, a recent Toncoin price forecast indicates that by December 4, the price of Toncoin will have increased by 227.30% to $15.66. 

Cardano Faces Price Pressure Amidst Market Uncertainty

Charles Hoskinson, the founder of Cardano, has responded to demands for openness in the blockchain’s ecosystem. Plutus Staking on X posted a brief video clip in which Hoskinson explained to users his sacrifices for the community. 

With ADA trading at $0.328, Cardano’s ecosystem faces challenges due to a slowdown in development and increasing competition from newer projects. Cardano has also encountered criticism regarding the delayed rollouts of its key functionalities, making it harder for the token to regain traction.

A recent analysis of projected 2024 Cardano prices indicates that the lowest price will be $0.313. The ADA price might go up to a maximum of $0.338. However, market uncertainty has led some investors to reassess their positions, with many shifting focus toward emerging DeFi projects that offer higher growth potential.

Why RCO Finance Could Outpace Toncoin and Cardano in the Next Market Rally

RCO Finance redefines accessible investing through its no-code AI platform, allowing users to optimize their portfolios easily. The platform empowers anyone to engage in trading by eliminating the need for programming knowledge. This simplicity removes traditional entry barriers and ensures a smooth experience for all.

Central to this system is RCO Finance’s AI-powered Robo Advisor, which customizes investment strategies by analyzing market trends and user-specific data. By automatically adjusting portfolios, the Robo Advisor helps users stay aligned with their financial objectives without constant manual intervention. 

This ensures that all investors, from novices to experts, can confidently manage their assets through intuitive, data-driven strategies.

RCO Finance has passed a Solidproof audit, adding an extra layer of trust and reinforcing the platform’s dedication to security and transparency. 

This verification provides users with assurance of the platform’s integrity, while the privacy-first, KYC-free model offers a streamlined, private way to participate in decentralized finance. 

Altogether, RCO Finance’s blend of AI technology, Robo Advisor, and secure ecosystem presents a comprehensive solution for those seeking ease and innovation in their financial journey.

How Meagre Investments in RCOF Could Yield Huge Returns

For investors seeking substantial returns in a challenging market, RCO Finance offers an attractive entry point. At the current presale price of just $0.056, even a modest $10 investment could grow to over $12,000, reflecting the project’s impressive growth forecast of 12,000% as it reaches its target price on exchanges. 

With interest pouring in from across the DeFi and traditional finance sectors, RCOF presents a unique opportunity for investors to capitalize on an AI-powered project with real utility and strong growth potential. As Toncoin and Cardano struggle, RCOF stands out as a forward-thinking project likely to lead the market’s next wave of growth.

For more information about the RCO Finance Presale:

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Will Polygon MATIC Price Hit $1 on AggLayer, Trump Trade?

Published

3 hours ago

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November 7, 2024

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Polygon could be poised for a breakthrough, with $1 in near term. Trump recent election win has ignited bullish energy across the crypto market bringing bull market era, while the upcoming Aggregation Summit, AggLayer, promises to add momentum.

This AggLayer brings the brightest minds in the industry to tackle challenges like cross-chain solutions, advanced ZK technology, and next-gen security. The buzz around AggLayer could drive fresh demand for POL token, potentially lifting its value.

AggLayer Summit and Trump’s Win: A Perfect Storm for POL Token

The AggLayer Summit, happening in Bangkok Nov 10-11, will bring together leading experts in the crypto space to address some of the most important challenges facing blockchain today. This event will focus on the extensive AggLayer ecosystem, categorised into AggChains, Core Contributors, and RaaS Providers. The ecosystem includes prominent entities like TON Blockchain, Fabric, Succinct, and AltLayer, all collaborating within this unified framework.

Meanwhile,Donald Trump recent election victory has sparked a wave of optimism in the crypto market. Many investors believe his win will lead to policies that favor digital assets, boosting the sector’s growth. As a result, there’s been a noticeable shift toward a more bullish market, with expectations for favorable regulations and increased adoption of crypto. This new political landscape is fuelling optimism and could be a major factor in pushing the market to new heights, benefiting both established and emerging crypto assets.

Polygon Price Analysis: Breakout and Volume Insights

Polygon’s native POL token recently achieved a breakout on the daily chart, currently trading at $0.34. Over the past 24 hours, the price has fluctuated between $0.32 and $0.34, reflecting a 6% increase over the last week. With a 24-hour trading volume of $113 million, market activity and investor interest are clearly on the rise, signaling strength in Polygon’s current position.

As the market remains bullish, Polygon’s breakout and strong volume suggest a potential rally toward the $1 mark. The upcoming AggLayer Summit, alongside global developments like Trump’s election win, are likely to further fuel market momentum.

 

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CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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