Over the past few months, the Tron (TRX) and Binance Smart Chain (BSC) networks have seen an increase in the number of transactions.
Based on multiple reports both networks lead on active stablecoin transfer addresses. In terms of total volume, however, the Solana (SOL) and Ethereum (ETH) blockchains surpassed both networks.
This article is sponsored content and does not reflect the opinion of the CryptoDnes team. The material does not constitute investment advice and is provided by the respective company.
The statistics in the above report show that retailers mostly use Tron (TRX) and Binance Smart Chain (BSC) for smaller stablecoin transactions. On the other hand, large investors have chosen Solana (SOL) and Ethereum (ETH) to handle significantly larger transaction volumes. The choice of Solana (SOL) and Ethereum (ETH) chains may be due to the features that both networks offer.
Despite the network’s features, the SOL token has recently seen a drop in price. At the time of writing, the price of Solana (SOL) is approx $135. In the last 24 hours, there has been a price drop, resulting in the altcoin losing nearly 5% of its value. But looking at year-to-date performance, Solana is still up significantly, up around 24%
The volume of remittances in USDC of Solana, which will surpass $2024 billion in January 300, highlights the growing adoption of the web. This activity can spur further development and attract stablecoin projects, potentially creating a positive feedback loop for the ecosystem.
The increased volume of stablecoin transfers can also be attributed to recent initiatives such as the integration of Cross-Chain Transfer Protocol (CCTP) on Circle with the Solana network. These initiatives aim to streamline the transfer of stablecoins to Solana from other networks, increasing liquidity and facilitating the seamless movement of stablecoins within the Solana ecosystem.
Factors influencing Solana’s rise over Tron and Binance’s BSC in the DeFi space
Solana’s (SOL) value proposition for large investors lies in its potential for high transaction volume and liquidity compared to other blockchains. This caters to investors who prioritize the efficient movement of large stablecoins.
In contrast, the large number of active Tron (TRX) addresses and Binance Smart Chain (BSC ) implies a broader user base. The networks of Tron (TRX ) and BSC are geared towards retail traders and investors who may prioritize lower fees or specific functionalities rather than high volume traders.
This is largely due to the lower transaction fees offered by the network for smaller, day-to-day transfers. For example, Tron maintains an average token transaction fee of about $2, which makes it a cost-effective option for regular use.
ETFSwap is aiming for a Solana-like role in the crypto ETF revolution
ETFswap (ETFS) is fighting for a leading position in the tokenization of assets in the crypto industry by creating tokenized ETFs. The recent approval of the spot Bitcoin ETF by the US Securities and Exchange Commission (SEC) in January 2024 has brought ETFs into the spotlight in the blockchain industry.
ETFswap (ETFS ) enables traders to invest in this modern asset class by tokenizing them on the blockchain. This project seamlessly integrates traditional financial principles with the world of decentralized finance (DeFi). Through this integration, the platform offers its users the benefits of both traditional financial markets and the innovations of DeFi protocols, all in one platform.
Tokenized ETFs will be available to traders through a comprehensive Web3 marketplace designed to serve both experts and crypto novices. In addition, experienced traders can use up to 10X trading leverage to increase their profits and take advantage of the platform’s fractional ownership feature.
The DeFi platform is positioned as a secure and user-friendly gateway to the crypto ETF revolution. Independents audits of security, performed by Cyberscope, a recognized leader in blockchain security, guarantee the integrity of ETFSwap’s smart contracts. Additionally, ETFSwap (ETF) streamlines user onboarding by eliminating Know Your Customer (KYC) processes. These features will ensure that investors enjoy easy access to their ETF investments.
How ETFSwap (ETFS) Is Doing in Its Presale
Central to the ETFswap (ETFS) project is its own token – ETFS. The token gives investors access to trading tokenized ETFs on the ETFSwap (ETF) platform. In addition, ETFS holders have the opportunity to participate in the management of the network. Basically, owning the token allows users to vote on decisions that affect the progress of the platform.
ETFSwap (ETFS) continues to impress both institutional and retail cryptocurrency investors with its highly successful presale event. In the first stage of the presale, over 25 million tokens have already been sold, helping to raise the $200,000 they raised.
In the current first stage of the ETFS public presale, tokens are being offered at $0.00854 each, and tokens are selling out quickly. So, join the ETFSwap Pre-Sale now and set the stage for significant returns!
For more information on the ETFS pre-sale:
Visit the ETFSwap Presale
Join the ETFSwap community
This article is sponsored content and does not reflect the opinion of the CryptoDnes team. The material does not constitute investment advice and is provided by the respective company.
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