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Arbitrum Blockchain Deepens Ties with Lotte’s Innovative Caliverse Virtual Worlds

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  • Arbitrum’s blockchain enhances crypto payments in Lotte’s Caliverse app.
  • Lotte integrates AI, VR, and crypto into Caliverse with Arbitrum’s help.
  • Arbitrum’s 250ms block times elevate gaming and virtual world experiences.

Arbitrum  is deepening its ties by partnering with Lotte Group, a major South Korean conglomerate. The collaboration will bring blockchain technology and crypto payments to Lotte’s Caliverse metaverse platform, which focuses on gaming and virtual experiences.

Arbitrum partners with Lotte’s Caliverse

Arbitrum plans to strengthen its collaboration with Lotte Group, a South Korean conglomerate. Lotte’s metaverse platform, Caliverse, will integrate with the Arbitrum blockchain. This partnership seeks to enable users to pay for services using cryptocurrency.

Caliverse is an AI-driven entertainment experience which offers users virtual worlds, gaming, media content, and shopping. Through this integration with Arbitrum users will be able to use crypto to make payment within the app. Arbitrum, a layer-2 Ethereum scaling solution, has gained popularity as the preferred platform for blockchain gaming.

Offchain Labs, the developer behind Arbitrum and the Arbitrum Foundation have confirmed that no agreement has been finalized. However, Lotte has illustrated its commitment to ensure a successful partnership. The two companies have expressed intentions to integrate blockchain technology into the services of Caliverse.

Offchain Labs co-founder and CEO Steven Goldfeder explained the role of Arbitrum in the partnership. Goldfeder noted that Arbitrum technology would provide Caliverse with a friendly user interface. The integration is anticipated to establish a new standard for the implementation of blockchain in the virtual space.

Impact of Lotte’s Partnership with Arbitrum

The Arbitrum blockchain offers fast transaction processing, making it suitable for gaming and virtual experiences. Arbitrum’s 250ms block times will enhance the high performance in Caliverse virtual worlds. This will improve the user experience in Caliverse especially for gaming and media content.

Arbitrum’s blockchain has gained increased popularity in the gaming sector. In 2024, the network experienced significant growth with a 72% increase in gaming transactions. The blockchain currently hosts 119 gaming titles and 23 gaming-focused blockchains.

The Arbitrum Orbit stack enables developers to design and develop custom-tailored blockchains. This customizable feature has increased the popularity and the rapid growth of the Arbitrum network. Therefore, the integration of Caliverse will further attract more attention to the platform.

Lotte has expressed interest in blockchain and metaverse products since 2022. The company entered into a strategic partnership with Arbitrum last year. This collaboration shows Lotte’s commitment to explore new and innovative technologies like AI, virtual reality and cryptocurrency.

The integration of Lotte’s Caliverse with Arbitrum signals a renewed institutional interest in blockchain-based virtual worlds. This development may trigger an increase in $ARB trading activity. Traders have highlighted that the increased adoption and use of Arbitrum will potentially boost the short term sentiment and price movement of $ARB.

Ethereum’s Layer 2 Landscape: Base Secures Leading Edge in Capital Influx

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In the recent analysis update shared on the X platform of the prominent analytics platform IntoTheBlock, it has been noted that Base, a Layer 2 solution of Ethereum, is doing better than its competitors in bringing in new investments. Base has received a huge amount of capital this week, where the net Ethereum (ETH) deposits have been over 6,500 ETH. Such figure is more than twice the deposits that were received by Arbitrum and five times more than those by Optimism, which shows the investor’s preference for Base. 

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The capital inflow into Base as it still leads among Ethereum’s Layer 2 solutions deserves to be noted. Layer 2s were created for improving the scaling and efficiency of the original Ethereum blockchain, making the transactions to be faster and the fees to be lower. Even though the activity levels on most Layer 2 platforms is more or less the same, Base has become the preferred platform for new investments which implies a strong vote of confidence towards its technology and prospects. 

Base’s Strategic Edge In Ethereum’s Layer 2 Race

This favoring of Base could be due to its updated technology infrastructure and strategic alliances that might provide a more successful scalability solution for Ethereum. The investors and users seem to be realizing that Base could indeed tolerate a higher number of transactions to be processed without compromising on safety. 

The comparative analysis from IntoTheBlock reveals that Arbitrum and Optimism remain the integral players in the Layer 2 realm, yet they are lagging behind Base in new inflows of capital. Although Arbitrum is able to offer the revolutionary roll-up technology it has attracted only half of the deposited amount of ETH that Base has, with Optimism as little as a fifth. 

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Source: Image by IntoTheBlock

The data by IntoTheBlock highlights the current state of play in the Ethereum Layer 2 ecosystem, revealing the preferences of the cryptocurrency community. Base is pivotal in enabling the growth of Ethereum as it expands its capabilities and solves the scalability issues. 

The inflow of capital into Base is a positive sign for the scalability endeavors of Ethereum. It is indicative of a developing confidence in Layer 2 solutions as viable substitutes for the downsides of the base blockchain. The future of the Ethereum network will be determined by Layer 2 platforms like Base since they will play a significant role in the development of its future, thus attracting both investors and users in the blockchain community. 

Polygon’s Parallelized EVMs Offer Hope Amidst Blockchain Inscription Woes

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Inscriptions, the latest digital collectible craze, have caused havoc on various blockchain networks, including Arbitrum, zkSync, and Avalanche. Branden Farmer, co-founder of Polygon, suggests that implementing parallelized Ethereum Virtual Machines (EVMs) could be the silver bullet to address the performance degradation and crashes triggered by the influx of inscriptions.

This novel form of digital collectible originated on the Bitcoin network following the Taproot upgrade in 2021. The upgrade enabled users to embed data into a transaction’s “witness” field, giving birth to images, tokens, and other collectibles on the Bitcoin blockchain. However, the excitement extended beyond Bitcoin, with inscription producers flooding Ethereum sidechains and layer-2s like Arbitrum, Avalanche, and Polygon.

The unique aspect of these inscriptions is their utilization of the “calldata” field in EVM-based networks, making them more cost-effective than traditional nonfungible tokens (NFTs). Unfortunately, this cost efficiency led to a surge in inscription transactions, resulting in high fees and instability across multiple blockchains. Notably, on December 15, Arbitrum experienced a 70-minute outage due to inscription spam.

Polygon’s Proposal: Parallelized EVMs To The Rescue

In an exclusive conversation, Polygon Co-founder proposed parallelized EVMs as a potential remedy for this issue. By allowing unrelated transactions to be processed simultaneously, parallelism could significantly enhance blockchain throughput, mitigating the impact of inscription spam.

Farmer explained, “In general, the EVM is executed sequentially, so every transaction in a block must be executed in order.” However, with a parallelized EVM, unrelated transactions can be processed concurrently, offering a more efficient way to handle various transactions.

Moreover, Farmer highlighted the “localized gas fees” concept, a feature not yet implemented on Polygon but part of their future goals. This approach aims to tailor gas fees to specific transaction types, ensuring that a surge in one transaction does not disproportionately affect others.

Polygon has already taken steps toward parallelization with the implementation of “Block-STM,” witnessing a 1.6x improvement in performance. Farmer emphasized that this approach, initially proposed by Solana developers, is gaining traction across multiple blockchains, including Aptos and Monad.

However, Farmer believes that combining parallelization with increased block space through layer-2 ecosystems, such as Polygon 2.0, will usher in a new era of improved performance and resilience against spam attacks.

Related Reading | Ethereum L2 Classification Conundrum: Rollups vs. Validiums

Ethereum’s “Dencun” Upgrade Signals Fee Reductions Amid Bullish Price Forecasts

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The forthcoming Ethereum upgrade, “Cancun-Deneb” (Dencun), is set to undergo testing starting January 17, marking a significant development in the Ethereum ecosystem. The upgrade aims to bring about crucial improvements, including reduced transaction fees, enhanced features for bridges and staking pools, and limitations on self-destruct operations in smart contracts.

Key features of Dencun include the implementation of Ethereum Improvement Proposal (EIP) 4844, also known as “proto-danksharding.” This proposal introduces a novel approach using “blobs,” allowing layer-2 rollup networks like Arbitrum, Base, and Polygon zkEVM to store specific transaction data temporarily. The anticipated outcome is a substantial reduction in transaction fees on layer 2 networks.

Accompanying proposals such as EIP-1153, introducing a “transient storage” system to decrease fees further, and EIP-4788, enhancing transparency by storing the root of each Beacon Chain block in a smart contract, are poised to bring added functionalities for bridges and staking pools.

Additionally, Dencun incorporates EIP-6780, limiting the use of the self-destruct keyword. Post-upgrade, the keyword will not erase the code unless called within the same transaction as deployment while still transferring all funds to the deployer, even if invoked in a future transaction.

Ethereum (ETH) Price Prediction

On the price front, crypto analyst Rekt Capital highlights Ethereum’s current retest of the $2274 support level. A successful retest could trigger a significant 22% upside move, maintaining a positive trajectory as long as support holds.

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Changelly provides insights into ETH’s price forecast for February 2024, indicating a range between $2,130.54 and $2,525.31. The average projected value is $2,327.93, with a recent forecast suggesting a 2.97% increase to $2,360.15 by January 6, 2024.

Technical indicators reveal a Neutral Bullish 59% market sentiment on Ethereum, while the Fear & Greed Index displays a score of 68 (Greed). Ethereum’s recent performance includes 14 out of 30 (47%) green days and 2.42% price volatility.

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Ethereum's "Dencun" Upgrade Signals Fee Reductions Amid Bullish Price Forecasts 6

As of the latest update, Ethereum’s price is $2,261.45, with a 24-hour trading volume of $33.23 billion, a market cap of $271.79 billion, and a market dominance of 16.19%, reflecting a 1.74% increase in the last 24 hours.

ETH 1D graph coinmarketcap 8
Source: CoinMarketcap

Related Reading | Bitcoin ETF Buzz: Insider Whispers Point To SEC Approval Tomorrow 

Arbitrum One Sequencer Returns After Technical Glitch

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The Arbitrum network, a layer-2 scaling solution for Ethereum, has restored its functionality after a brief outage on Friday caused by a technical glitch. The outage affected the Arbitrum One sequencer, which relays transactions between the layer-2 network and Ethereum’s base chain.

According to an official statement from the Arbitrum team, the outage occurred at 10:29 AM EST on Friday due to an unexpected surge in transaction traffic on the layer-2 network. This triggered an influx of subscriptions on the Arbitrum One sequencer, which caused it to stop working properly for about 15 minutes.

The team said they could identify and fix the issue within 15 minutes and resume normal operations by 11:57 AM EST. They also apologized for any inconvenience caused by the outage and thanked their community for their patience and understanding.

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The outage caused confusion and frustration among the Arbitrum community, who rely on the layer-2 network for fast and cheap transactions on Ethereum. Some users reported seeing error messages or delays when interacting with their assets on Arbitrum.

However, most users seemed to accept the explanation from the team and did not express any major concerns or complaints about the outage. Some users even praised its transparency and responsiveness in handling the situation.

The market reaction to the outage was relatively calm compared to previous Arbitrum incidents. The native token of Arbitrum, ARB, did not experience any significant price fluctuations during or after the outage. ARB is currently trading at $1.11 USD with a market capitalization of $1.46 billion USD.

This shows that ARB has gained some trust and confidence from investors despite facing technical challenges in recent months. In June, ARB suffered a transaction backlog due to a bug that prevented users from sending or receiving assets on its network. The team quickly resolved that issue within hours without affecting user experience.

Arbitrum’s Growth Amid Technical Challenges

The team said they are still investigating the outage’s root cause and working on improving their system’s reliability and performance. They also said they plan to introduce new features and upgrades for their network to enhance its functionality and usability.

Arbitrum is one of several layer-2 solutions that aim to improve Ethereum’s scalability by moving transactions off-chain while maintaining compatibility with Ethereum’s smart contracts. Other popular layer-2 solutions include Polygon, Optimism, zkSync, Loopring, etc.

Arbitrum claims to offer faster transaction speeds (up to 40,000 TPS), higher security (using zero-knowledge proofs), better interoperability (with other layer-1 networks), etc., compared to Ethereum’s current state.

However, ARB also faces some challenges, such as competition from other layer-2 solutions, regulatory uncertainty regarding its legal status as an ERC-20 token on Ethereum’s base chain (which may affect its compliance with KYC/AML regulations), technical complexity (which may require more expertise and resources from developers), etc.

Therefore, it remains to be seen how successful Arbitrum will be in achieving its vision of becoming a leading layer-2 solution for Ethereum in terms of adoption, innovation, security, etc., despite facing some technical difficulties.

Related Reading | Coinbase Takes SEC To Court After Crypto Regulations Denied

Solana’s Symphony: Surging Heights, Liquidity Lows, & Decentralized Dominance

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In the dynamic world of cryptocurrency, Solana ($SOL) continues to capture attention with its impressive rally, as reported by Kaiko. Despite the surge, concerns are emerging over limited liquidity, prompting comparisons to the aftermath of FTX’s collapse.

Decoding Solana: Liquidity Challenges & DeFi Dominance

In USD terms, liquidity has reached its highest point since the aforementioned incident. However, when assessed in native units, there is a discernible downward trend, suggesting that market makers (MMs) are striving to maintain stability in liquidity levels.

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The accompanying chart vividly illustrates the trajectory of $SOL’s recent surge, underlining the substantial ground yet to be covered. Since October 1st, SOL has surged by an impressive 150%, although it remains down by a considerable 77% from its all-time high (ATH).

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Solana's Symphony: Surging Heights, Liquidity Lows, & Decentralized Dominance 11

CEO of Asymmetric, Joe McCann, took to Twitter to highlight Solana’s growing influence in the decentralized finance (DeFi) space. According to McCann, the number of Solana DeFi users engaging with 10 or more smart contracts (Solana programs) daily has hit a year-to-date high.

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Remarkably, this represents 1.15% of all active DeFi addresses, dwarfing the figures for Ethereum, Optimism, Arbitrum, Avalanche, and Polygon. Solana’s user engagement is 11.5 times greater than Ethereum, 6.88 times greater than Optimism, 16.4 times greater than Arbitrum and Avalanche, and a staggering 23 times greater than Polygon.

Adding another layer to Solana’s prowess, crypto analyst Austin Barack pointed out the Solana decentralized exchange (DEX) volume to total value locked (TVL) ratio over the last seven days. The ratio stands at an impressive 13.6 times, showcasing the platform’s capital efficiency.

In comparison, Ethereum’s ratio is 1.8 times, and Arbitrum trails at 3.9 times. This positions $SOL DEXs as over seven times more capital efficient than Ethereum and more than three times as efficient as Arbitrum.

As SOL continues its upward trajectory, the cryptocurrency community watches with keen interest, navigating the evolving landscape of liquidity challenges and burgeoning dominance in the decentralized finance sector. The remarkable statistics presented by industry experts and analysts underscore SOL’s growing significance in the ever-expanding cryptocurrency market.

Related Reading | Crypto Capitals: Unveiling the $56.44 Million Lobbying Odyssey in the U.S: Report 

Ethereum’s Path To Interconnectivity: Vitalik Buterin’s Insights On Security & Scalability

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Vitalik Buterin, the co-founder of Ethereum, has recently shared insights on the evolving landscape of Ethereum’s interconnectedness, emphasizing the critical aspects of security and scalability within the ecosystem.

Ethereum’s Interconnectivity

In a comprehensive article, Buterin highlights the rapid expansion of Ethereum’s Layer 2 (L2) ecosystem over the past year. Notably, the ZK-EVM rollup ecosystem, featuring projects like StarkNet, Arbitrum, Optimism, and Scroll, has made significant advancements in enhancing security. L2beat’s informative overview illustrates the current status of these projects. Furthermore, a trend has emerged where L2 projects are becoming more diverse and interconnected, a trend expected to persist.

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Several factors drive this trend, including independent Layer 1 projects seeking to integrate more closely with Ethereum, the exploration of blockchain-based security for centralized projects, and non-financial applications like gaming and social media opting for varying levels of security.

The challenge lies in determining the right balance between security and scalability. Buterin presents a chart detailing the properties and guarantees of rollups, validiums, and disconnected systems, highlighting the trade-offs involved.

One crucial dimension is the ability to trustlessly read Ethereum, allowing systems to adapt to its state. Buterin points out that this connection is vital for bridging tokens between Ether and other Layer 2 solutions and for enabling account abstraction wallets to hold assets securely.

The article also delves into the concept of validating bridges, which can help achieve the security level of a validium. However, the issue of handling potential 51% attacks on Ether or hard fork upgrades on either chain remains a challenge that may require social commitments.

Overall, Buterin emphasizes the two fundamental dimensions of “connectedness to Ethereum” – the security of withdrawing to Ether and the security of reading Ethereum. These dimensions encompass various considerations and trade-offs, offering a diverse landscape for projects in the ecosystem. As technology evolves, the optimal balance between security and scalability may shift, making adaptability a crucial aspect of its interconnected future.

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Related Reading | Dubai’s New Crypto Exchange: Backpack Introduces Regulated Platform

VC Spectra’s Presale vs. Arbitrum (ARB) and Cardano (ADA): Who Will Deliver Bigger Returns?

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VC Spectra’s (SPCT) promising presale, Ethereum’s integration with Arbitrum (ARB) Nova on Kraken, and Cardano’s (ADA) defense against skeptics represent pivotal moments for investors. Comparing VC Spectra’s strong presale to Arbitrum’s downtrend and Cardano’s defensive stance during a sell-off raises questions about the best investment returns. We’ll examine the potential of each.

>>BUY SPCT TOKENS NOW<<

VC Spectra (SPCT) Is Offering Higher ROI

VC Spectra (SPCT) is a decentralized platform for asset management and trading, targeting a secure, transparent, and profitable investment experience. With a team of venture capitalists and technologists, VC Spectra (SPCT) identifies prime investment opportunities and uses advanced trading tactics to ensure returns and reduce risks. 

VC Spectra’s mission is to make blockchain and tech investments accessible and straightforward for everyone, regardless of their financial background. VC Spectra (SPCT) offers trustless investment management, letting investors decide their involvement level, aiming to guarantee steady and profitable returns.

VC Spectra (SPCT) protocol is based on the Bitcoin blockchain and uses smart contracts for automated functions like trading. It employs the BRC-20 standard Spectra Token (SPCT) for activities like voting.

The price of VC Spectra (SPCT) is currently at $0.025 in Stage 2 of its public presale. SPCT investors from Stage 1 witnessed a 212.5% profit, while those who bought early in Stage 2 enjoyed a 127.27% gain. Purchasing SPCT tokens now at $0.025 could yield a 220% increase by the presale’s conclusion, with a projected price of $0.08 at launch in different exchanges.

>>BUY SPCT TOKENS NOW<<

Kraken Allows Ethereum (ETH) Deposit and Withdrawal on Arbitrum (ARB) Nova

On August 17, 2023, Kraken announced support for deposits and withdrawals of Ethereum (ETH) on the Arbitrum (ARB) Nova network. Users can now deposit ETH into their Kraken accounts using the “Arbitrum (ARB) Nova” option found in the “Funding” section. Arbitrum (ARB) investors are excited by this announcement.

Despite the announcement, Arbitrum (ARB) has declined by 2.91% since August 17. Yet, its trading volume is up by over 50% in the same duration. Arbitrum (ARB) is currently priced at $1.01, with a market capitalization of $1.29 billion. The ARB community is filled with bearish sentiment.

Also, indicators such as the MACD and the RSI suggest a bearish trend for ARB. This decline is also attributed to general market volatility and short-selling. 

Still, given the oversold condition of Arbitrum (ARB), there is potential for an upward price correction soon.

Hoskinson Defends Cardano (ADA) On Platform X

Charles Hoskinson, the creator of Cardano (ADA), defended ADA against skeptics on August 17. Critics questioned Hydra’s effectiveness, but Hoskinson highlighted its utility for specific applications and tweeted Cardano (ADA) advancements like Hydra and Mithril. He refuted claims of bias towards Ethereum and emphasized Cardano’s unique innovations. 

His responses underscore his confidence in Cardano’s future in the blockchain world. Meanwhile, Cardano (ADA) is trading at $0.2653, a 4.33% decline from $0.2773 on August 17. Yet, the trading volume is up by 78.48%, reaching $423 million from $237 million in the same period. Cardano (ADA) traders are actively trading due to sell-off pressure.

Crypto experts predict a potential decline in Cardano (ADA) with crucial support at $0.25. For a bullish trajectory, ADA needs to break the $0.28 mark. They recommend buying on dips and employing dollar-cost averaging for potential long-term gains.

Learn more about the VC Spectra presale:

Buy Presale: https://invest.vcspectra.io/login

Website: https://vcspectra.io 

Telegram: https://t.me/VCSpectra

Twitter: https://twitter.com/spectravcfund

August’s Altcoin Gems: VeChain, Arbitrum, Tradecurve

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August is ushering in a new wave of excitement in the crypto space, spotlighting several altcoins that are gaining traction. Among them are VeChain, Tradecurve, and Arbitrum. Particularly intriguing is Tradecurve, which has already pumped by 150% during the ongoing presale phase. Let’s take a closer look!

>>Register For The Tradecurve Presale<<

Tradecurve (TCRV)’s 150% Pump Is Just The Start

Long gone are the days of submitting personal information for KYC checks and navigating complex interfaces. Tradecurve has broken the mold, offering a solution that’s as simple as it is revolutionary.

With Tradecurve, the barriers to entry have been torn down. All you need to get started is an email address and a little cryptocurrency for collateral. From there, you’re free to explore a rich and diverse trading landscape, encompassing crypto, forex, commodities, and stocks.

But don’t let the simplicity fool you. Tradecurve is also packed with powerful features designed to give you an edge in the market. Whether it’s copying trading strategies from successful traders, tapping into AI-driven automated trading, or leveraging up to an astonishing 500:1, Tradecurve is here to elevate your trading experience.

The heart of this trading innovation is the TCRV token. Acting as the native currency within Tradecurve’s ecosystem, TCRV will enable users to pay transaction fees, earn staking rewards, access advanced tools, and much more.

Right now, during phase 5 of the presale event, TCRV is available at an early-bird price of $0.025. With over 20 million tokens sold in just a week, it won’t be long until phase 6 kicks in with the price rising to $0.029.

Analysts and traders alike see Tradecurve’s potential. As the platform gains momentum and popularity, the value of TCRV is forecasted to surge to $1.00 and beyond. Now’s the time to seize the opportunity and join the future of trading with Tradecurve.

VeChain (VET): The Leading Blockchain-As-A-Service Platform

Once a dazzling star of the crypto world during the 2017 and 2020 bull runs, VeChain has seen its luminescence wane. Early VeChain investors reaped up to 100x gains, but the token’s current state is far less illustrious, languishing 93% below its 2021 zenith of $0.2782.

VeChain’s early allure lay in its strategic collaborations with well-known corporate entities, promising an increase in blockchain transactions. But these expectations have withered on the vine, leading large investors to cast their eyes towards fresher prospects.

This trend has been exacerbated by VeChain’s tepid response to favorable market news, indicative of a broader cooling of interest in the token. Now priced at a modest $0.018, VeChain teeters beneath a formidable resistance level at $0.020.

Should it muster the strength to overcome this barrier, the path to $0.033 could be cleared. Further gains would trigger a full-blown bull run. However, any VeChain gains are still unlikely to beat that of Tradecurve’s meteoric rise.

<blockquote class=”twitter-tweet”><p lang=”en” dir=”ltr”>🚀 Incredible news! 🚀 <br><br>The TradeCurve App presale just got even better!<br><br>Now, you can get a massive 30% Bonus on your <a href=”https://twitter.com/search?q=%24TCRV&amp;src=ctag&amp;ref_src=twsrc%5Etfw”>$TCRV</a> token purchase! 💰<br><br>💥 Act fast and take advantage of this amazing opportunity!<br><br>📍Join The Presale: <a href=”https://t.co/uXZ4W6G6RE”>https://t.co/uXZ4W6G6RE</a><a href=”https://twitter.com/hashtag/presale?src=hash&amp;ref_src=twsrc%5Etfw”>#presale</a> <a href=”https://t.co/x3E5eH5qGr”>https://t.co/x3E5eH5qGr</a> <a href=”https://t.co/DB5Q7uj7Ud”>pic.twitter.com/DB5Q7uj7Ud</a></p>&mdash; Tradecurve (@Tradecurveapp) <a href=”https://twitter.com/Tradecurveapp/status/1682651323634688000?ref_src=twsrc%5Etfw”>July 22, 2023</a></blockquote> <script async src=”https://platform.twitter.com/widgets.js” charset=”utf-8″></script>

Arbitrum (ARB): The Ethereum Scaling Solution

Arbitrum has rapidly climbed the crypto ladder, with its total value locked (TVL) soaring past the $2 billion mark in a matter of weeks. This is a testament to Arbitrum’s undeniable ability to handle a high volume of transactions at reduced costs.

Despite the incredible growth trajectory, Arbitrum has faced a recent stumble. Just months ago, on April 18th, 2023, it traded at $1.81, but Arbitrum’s price has since dipped to $1.26—a 30% decline.

As the market continues to watch Arbitrum closely, two crucial points emerge on the horizon: the $1.00 mark stands as a formidable support level, while the $1.30 threshold looms as significant resistance.

Arbitrum needs to follow in the footsteps of Tradecurve by attracting loyal investors who believe in the long-term vision, rather than continue to sell Arbitrum tokens via airdrops and other short-term strategies.

For more information about the Tradecurve (TCRV) presale:

Website: https://tradecurve.io/ 

Buy presale: https://app.tradecurve.io/sign-up 

Twitter: https://twitter.com/Tradecurveapp 

Telegram: https://t.me/tradecurve_official 

Arbitrum Loses To Optimism In Daily Transactions: Is It Temporary?

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Optimism (OP), a layer-2 solution for Ethereum (ETH), surpassed competitor Arbitrum (ARB) in daily transactions and active addresses. This marks the first time Optimism outperformed Arbitrum, according to DeFi researcher Thor Hartvigsen.

The surge­ in optimism may be short-lived due to various factors. One­ such factor is the introduction of Worldcoin, a contentious project by Sam Altman, founde­r of OpenAI. Worldcoin relies on Optimism as its initial blockchain platform.

Worldcoin (WDC) is a cryptocurrency that aims to e­stablish a global network for identity and finance, owne­d collectively. Users can obtain a World ID digital passport by scanning the­ir irises with an Orb device. As a bonus, use­rs signing up in specific countries will rece­ive Worldcoin tokens.

The hype­ surrounding Worldcoin has potentially contributed to an increase­ in the number of transactions and addresse­s on Optimism. However, it is important to note that this data doe­s not necessarily refle­ct the actual usage of DeFi applications on the­ network. 

According to Hartvigsen, dece­ntralized exchanges (DEX) volume­s on Arbitrum still overshadow those on Optimism, with 6-8 times highe­r activity.

Arbitrum Still Leads In TVL, And Value Moved

Arbitrum’s dominance ove­r Optimism is evident in both networks’ total value­ locked (TVL). TVL repre­sents the assets de­posited in blockchain smart contracts. As per L2Beat, Arbitrum One­ boasts a TVL of $2.6 billion, while Optimism only has $1.2 billion as of July 29, 2023.

Arbitrum One dominate­s Ethereum’s L2s market with a significant 58% share­, whereas Optimism holds only 27.5%. Additionally, InvisibleB4, a blockchain analyst, reve­als that Arbitrum’s bridges have facilitated the­ transfer of $4.5 billion from Ethereum, while­ Optimism’s bridges have moved just $2.1 billion.

Some propone­nts of Optimism contend that the network should re­ceive greate­r recognition due to its rece­nt Bedrock upgrade. This upgrade re­sulted in a 50% reduction in fee­s and an enhanced deve­loper experie­nce. 

However, some critics say that Optimism lacks notable­ DeFi projects apart from Velodrome­ and Synthetix. These critics also point out that Arbitrum’s ARB airdrop was more­ generous compared to Optimism’s OP airdrop.

The sustainability of Optimism maintaining its le­ad over Arbitrum in terms of daily transactions and active addre­sses remains uncertain. It is ye­t to be determine­d if Optimism can withstand the competition from its rival once again. 

The­ rivalry between the­se two layer-2 solutions is expe­cted to intensify as more Ethe­reum users and deve­lopers migrate to capitalize on the­ advantages of lower costs and faster spe­eds.

Related Reading | Cardano’s Tech Marvels: The Week’s Latest Advancements & Ecosystem Empowerment