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U.S. equities whipsawed overnight, with tech-heavy Nasdaq declining 3.23%. ECB President Christine Lagarde rattled the market with hawkish remarks, while worse-than-expected U.S. retail sales sparked recession concerns. Meanwhile, the broader cryptocurrency has followed the footsteps of equities, with Bitcoin down 1.73% and Ether down 1.55% in the past 24 hours as of the time of writing. The top mover for today, CELO, which registered a 10.05% increase in the past 24 hours, has clearly outperformed the market on the back of growing adoption and surging network transactions.
Celo is a mobile-friendly blockchain that aspires to make decentralized finance (DeFi) available to billions of smartphone users. It features an open Proof-of-Stake (PoS) consensus, a zk-SNARK-based client, and gas fees payable in multiple stablecoins. As the future of crypto is widely believed to shift from a web-based one to a mobile-focused one, this paints a promising path ahead for Celo.
CELO shot up in the wake of surging on-chain activities, as highlighted in the above chart. Regarding adoption news, a web3 infrastructure, Axelar, partners with Celo. This partnership enables Celo builders to easily design the cross-chain user experience, while Mento Protocol launched cReal stable asset on Celo. Zooming in, the total value locked (TVL) on Mento Protocol spiked with an 11% increase overnight and raked in a 43.2% monthly increase in capital inflows. The launch of cReal may have played a role in soaring on-chain activities on Celo. Meanwhile, other protocols, such as Moola Market, a lending protocol, and Ubeswap, a decentralized exchange, have gained traction of late with growing TVL, contributing to reviving user activities on Celo.
Check Out the Latest Prices, Charts, and Data for CELO/USDT!
Source : https://collecttrumpcards.com/
The former president of the United States, Donald Trump, announced the release of his official NFT collection. The collection consists of 45,000 NFTs in the form of trading cards, with each card depicting Trump in a different attire. Each NFT is not only a rare collectible, but also automatically enters the owner into a sweepstake for a chance to win prizes. All that is needed to purchase a $99 Trump NFT from the website is an email and credit card. The website would then automatically create a crypto wallet for users, making this collection accessible and attainable to all users on Polygon, even if they are not Web3 native.
Check out what else is buzzing in the crypto scene today:
Bitcoin miner Core Scientific was offered a $72 million lifeline from its creditors after warning a possible bankruptcy in October. (Link)
Crypto Lender Maple Finance rolled out a major overhaul after surging debt defaults. (Link)
Coinbase asks users to switch USDT for USDC. (Link)