BlockDAG Approaches $100M Milestone: Should Avalanche & Shiba Inu Holders Consider Jumping Ship?

As 2024 draws to a close, Avalanche and Shiba Inu are making notable strides to captivate their audiences. Avalanche has launched AVAX incentives to energize its ecosystem, hoping to attract a broader user base and developers. At the same time, Shiba Inu has seen a dramatic increase in its burn rate, which has contributed to a rise in SHIB prices and a resurgence of interest among crypto followers. Amid these activities, BlockDAG (BDAG) distinguishes itself with its Layer 1 blockchain technology, marked by an advanced ecosystem that is gaining traction in the market.

BlockDAG’s testnet, recently unveiled, has been met with enthusiastic responses from both experts and users. Its standout performance and scalability have led some to suggest it might even surpass Solana in technical prowess. This acclaim has helped propel BlockDAG’s $99 million presale, drawing substantial support from major crypto participants and pushing it towards an unprecedented $100 million milestone. This momentum positions BlockDAG as a prime choice among new cryptocurrencies.

Avalanche’s BOOST Campaign Introduces AVAX Incentives

In a recent initiative called the Avalanche BOOST Campaign, WOOFi, an omnichain decentralized exchange, has started offering AVAX incentives. This campaign, which began on October 7, plans to distribute 10,000 sAVAX over 12 weeks. Participants engaging with WOOFi Earn and the Cross-chain Carousel can earn these incentives. In WOOFi Earn, 8,000 sAVAX will be allocated to users who deposit into AVAX, USDC, or BTC.b vaults, with rewards accruing in real-time.

Additionally, the Cross-chain Carousel will offer 2,000 sAVAX, spotlighting a different Avalanche protocol each week. Users can swap assets into the featured token, with a weekly prize pool of $5,000 in sAVAX divided based on trading volume. This campaign, according to Ben Yorke, VP of the WOO Ecosystem, aims to enhance liquidity and provide smooth earning opportunities on this scalable and environmentally-friendly blockchain. WOOFi, supporting 11 blockchains, boasts over $42 billion in trading volume.

Shiba Inu’s Burn Rate Escalation and Its Impact on SHIB Prices

The burn rate for Shiba Inu has seen a significant uptick, increasing by 14,575% in just 24 hours, with over 279 million SHIB tokens removed from circulation through five transactions. Notably, the largest transaction involved 277.58 million tokens from a Coinbase wallet, representing almost the entire burn volume. Additional contributions included burns from a Robinhood-associated wallet and an address tagged as “Kraken 7.”

This considerable reduction in token supply, paired with recent large-scale acquisitions of SHIB, has heightened market optimism. Analyst Javon Marks has projected that SHIB could potentially rise by 342% to reach $0.00008, following a breakout from a falling wedge pattern. Another market observer anticipates a similar upswing to $0.000074, reflecting a positive sentiment around the token’s future trajectory.

BlockDAG Testnet Achieves Significant Early Benchmarks

BlockDAG has reached an important phase in its development with the launch of its testnet and blockchain explorer on September 20, 2024, marking a pivotal step towards its upcoming mainnet release. This development allows the community to directly engage with the blockchain and explore its array of features firsthand. The testnet offers a practical preview of what BlockDAG promises in terms of technology and functionality, enabling users to interact with the network and witness the advancements firsthand.

Among the notable features introduced are the blockchain explorer and the blockchain faucet. The explorer provides detailed views of blocks, their sizes, timestamps, and transactions, simplifying the user experience for navigating the blockchain. Additionally, the faucet feature allows users to mint BDAG coins on the testnet, facilitating transfers via MetaMask. This integration with MetaMask Wallet Connect streamlines the process of sending and receiving BDAG coins. The testnet also includes sample smart contracts, which users can employ to test various functions such as minting NFTs, staking coins, or burning tokens.

Feedback from the community highlights the testnet’s high performance and scalability, with many pointing to it as one of the most robust foundations for a network currently on the market. Early assessments suggest that BDAG could surpass other platforms, including Kaspa and possibly even Solana, in terms of capability. This level of performance has captured significant attention, positioning BlockDAG as a formidable player in the blockchain arena.

The positive reception of the testnet has correspondingly propelled BlockDAG’s $99 million presale forward, attracting substantial interest from major participants in the cryptocurrency space and driving the presale towards the $100 million milestone. Such momentum underscores it as one of the most notable presales in recent years. The confidence surrounding BlockDAG’s potential continues to grow, with many regarding it as a premier choice among new cryptocurrencies. Predictions even suggest that the presale could escalate to as much as $600 million within the next few months.

Currently, in its 24th batch, BDAG coins are priced attractively at $0.0206, presenting a compelling entry point for those considering participation in a layer 1 network.

Final Insights

While other cryptocurrencies like Avalanche and Shiba Inu are making strides with initiatives such as AVAX incentives and heightened burn rates, BlockDAG distinguishes itself with its advanced and highly capable testnet launched in late September 2024. The strong performance and scalability demonstrated by the testnet have drawn considerable interest, helping to drive the presale towards significant milestones. BlockDAG’s ongoing success in its presale, combined with its cutting-edge technology and increasing attention from the crypto community, positions it as a prominent contender for those looking to engage with promising new cryptocurrencies.

Join BlockDAG Presale Now:

Website: https://blockdag.network

Presale: https://purchase.blockdag.network

Telegram: https://t.me/blockDAGnetworkOfficial

Discord: https://discord.gg/Q7BxghMVyu