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The SPX index is up 0.67%, U.S. stock indices closed moderately higher, led by technological stock gains. Tesla surged by over 10% following a Morgan Stanley upgrade, and Qualcomm rose over 3% after extending its chip contract with Apple. The broader cryptocurrency market is down, with Bitcoin and Ether dropping 2.90% and 4.87% respectively, in the past 24 hours.
Today’s outperformer is GAL, which surged 10.3% in the past 2 weeks following the announcement of protocol for secure, tradable digital identities in Web3.
Galxe (GAL), launched in May 2021, is a decentralized credential data network for Web 3.0. It aims to replace centralized control of credential data by providing an open-source platform that allows any Web 3.0 developer to access and use this data globally. Using advanced zero-knowledge proofs, the protocol allows users to fully control and trade their personal data, creating an open network for secure credential sharing among developers and enhancing user privacy. GAL also partnered with Tokyo Beast to expand DeFi and is launching a Web3 gaming Loyalty Point Campaign on Galxe. Recently, they also released new brand guidelines to maintain a consistent identity across platforms.
Check Out the Latest Prices, Charts, and Data of GALUSDT!
Ava Labs is testing its HyperSDK blockchain upgrade on the Avalanche network, achieving a remarkable 143,322 transactions per second (TPS) in a controlled test environment. This is significantly higher than current TPS rates for Avalanche, Solana, and Ethereum. HyperSDK allows developers to easily create high-performance Virtual Machines (VMs) without writing extensive code. It aims to simplify and accelerate the development of custom VMs and optimized blockchains. The HyperSDK is still in its early beta stage and is expected to be production-ready by the end of the year. Ava Labs' head of product, Nick Mussallem, anticipates that the real-world throughput will eventually settle around 50,000 TPS and emphasized that the upgrade maintains a balance between decentralization, scalability, and security.