As 2024 nears its end, both Avalanche and Shiba Inu are pulling out all the stops to ensure a strong finish. Avalanche has rolled out AVAX incentives aimed at enhancing its ecosystem, attracting a fresh wave of users and developers.
Simultaneously, Shiba Inu has significantly increased its token burn rate, which has not only elevated SHIB prices but also reignited interest among the crypto community. Amidst these developments, BlockDAG (BDAG), with its sophisticated Layer 1 blockchain ecosystem, is capturing the spotlight in the market’s recent surge.
BlockDAG’s testnet unveiled recently, has earned widespread acclaim from both industry experts and users, with some predicting it could surpass even Solana in terms of performance and scalability. This impressive achievement has propelled the momentum of BlockDAG’s $99 million presale, drawing significant participation from major players and rapidly approaching the coveted $100 million milestone. This level of success positions BlockDAG as potentially the best new cryptocurrency on the market.
Avalanche’s BOOST Campaign Ignites Interest with AVAX Incentives
WOOFi, a prominent omnichain decentralized exchange, has initiated the Avalanche BOOST Campaign, which is designed to distribute 10,000 sAVAX over 12 weeks starting October 7. Through WOOFi Earn and the Cross-chain Carousel, participants have the opportunity to gain AVAX incentives. Specifically, in WOOFi Earn, 8,000 sAVAX are allocated for users who deposit into AVAX, USDC, or BTC.b vaults, with rewards accruing instantly.
An additional 2,000 sAVAX are available through the Cross-chain Carousel, which highlights a different Avalanche protocol each week. Participants can exchange assets into the featured token, sharing a weekly pool of $5,000 in sAVAX based on their trading volume. Ben Yorke, VP of WOO Ecosystem, stated that this campaign not only boosts liquidity but also offers seamless opportunities for earnings on a scalable and environmentally friendly platform. With support for 11 blockchains and a trading volume exceeding $42 billion, WOOFi continues to expand its influence in the crypto world.
Shiba Inu’s Burn Rate Spike Fuels Price Increase
The last 24 hours have seen a dramatic 14,575% spike in Shiba Inu’s burn rate, with over 279 million SHIB tokens permanently removed from circulation. This action was primarily conducted over five transactions, with the largest, involving 277.58 million tokens from a Coinbase wallet, comprising 99.26% of the total burned. Further burns included 2 million SHIB from a Robinhood-associated wallet and 44,444 SHIB from an address tagged as “Kraken 7.”
This significant reduction in supply, combined with recent acquisitions by whales totaling 83.3 billion SHIB, has bolstered market optimism. Analyst Javon Marks anticipates that SHIB could rise by 342% to $0.00008 following a breakout from a falling wedge pattern, with another observer predicting potential growth to $0.000074.
BlockDAG Testnet Achieves Significant Early Success
On September 20, 2024, BlockDAG marked a pivotal achievement with the launch of its testnet and blockchain explorer. This milestone not only advances the project toward its eagerly anticipated mainnet release but also offers the community an immersive first-hand look at the blockchain’s functionality. Users now have the unique opportunity to engage with the network, exploring its innovative features and experiencing the advancements that BlockDAG has integrated.
The newly introduced testnet is not just a technical experiment; it’s a gateway for users to understand and interact with the core mechanics of BlockDAG. The blockchain explorer, one of the testnet’s standout features, offers users detailed insights into blocks, including their size, timestamps, and the transactions they contain, simplifying the user experience significantly. Additionally, the blockchain faucet empowers users to mint BDAG coins directly on the testnet, which can be managed and transferred effortlessly using MetaMask through Wallet Connect. This functionality enhances the ease of sending and receiving BDAG coins, ensuring a smooth and user-friendly experience.
For those interested in deeper engagement, the testnet provides sample smart contracts that allow for testing a variety of functions such as minting NFTs, staking coins, and even burning tokens. These features collectively aim to build a robust understanding of the blockchain’s capabilities, setting a high standard for what users can expect from the mainnet.
The testnet has been met with widespread acclaim for its high performance and scalability, qualities that many believe set a new benchmark for blockchain networks. The enthusiasm surrounding these capabilities suggests that BDAG could rival or even surpass established platforms like Kaspa and Solana. This strong performance is turning heads, making BlockDAG a notable contender in the crowded blockchain space.
Thanks to the positive reception of the testnet, BlockDAG’s $99 million presale has witnessed significant enthusiasm, drawing substantial interest and driving the presale swiftly toward the $100 million milestone. This remarkable progress positions the presale as one of the most successful in over a decade, with many seeing BlockDAG as the premier new cryptocurrency on the scene. Forecasts now suggest that the momentum could carry the presale to as high as $600 million in the coming months.
Currently, with BDAG coins priced at $0.0206 in batch 24, the testnet offers an attractive proposition for those looking to engage with a cutting-edge layer 1 network.
The Final Word
While other cryptocurrencies like Avalanche and Shiba Inu are making strides with initiatives such as AVAX incentives and significant token burns, BlockDAG stands apart. Its testnet, launched in late September 2024, has not only met but exceeded expectations, showcasing exceptional performance and scalability. This success has catalyzed a wave of enthusiasm, attracting major interest and setting the stage for one of the most anticipated mainnet launches.
As BlockDAG continues to develop, it positions itself as a leading figure in the future of blockchain technology, offering a promising avenue for those looking to engage with innovative and impactful cryptocurrency solutions.
Join BlockDAG Presale Now:
Website: https://blockdag.network
Presale: https://purchase.blockdag.network
Telegram: https://t.me/blockDAGnetworkOfficial
Discord: https://discord.gg/Q7BxghMVyu
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Source: https://cryptodaily.co.uk/2024/10/blockdag-approaches-100m-time-for-avalanche-and-shiba-inu-whales-to-reevaluate-their-investments