Little-Known Altcoin Jumps After This Development!

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  • A little-known altcoin focused on Ethereum (ETH) staking applications was bullish ahead of the ETH 2.0 upgrade.

Outperforming popular cryptocurrencies despite low market conditions SSV Network (SSV), It is a decentralized, open-source staking network that calls itself a project designed to build “high-performance, secure and decentralized ETH staking applications.”

The project’s native cryptocurrency, SSV, has risen more than 57 percent in the past seven days as a result of recent developments, with the 233rd-ranked crypto asset trading at $18.01 at the time of writing.

In addition, the other day, SSV Network announced that it is collaborating with the Ankr Staking platform.

Price increase, Ethereum(ETH) has come days before its transition to the long-awaited Proof of Stake consensus mechanism.

According to the Ethereum Foundation, the transition to ETH 2.0 will take place in several phases, starting with the Bellatrix update on September 6 and ending with the official transition between September 10 and 20.

Mergeaims to solve network scalability issues by laying the groundwork for future upgrades, including sharding.

SSV Network also experienced significant development this week, launching a new version of its testnet. The project said:

“[Testnet] not only implemented new dashboards, but also improved the operator selection interface. In addition, we have added color to the staking game by integrating more metrics into the web application.”

This way, users will be able to customize and view all the details of their validators and who is running them. It will allow stakers to seamlessly select and manage groups of operators with one click.

By providing this functionality, we can revolutionize the staking industry by allowing validators to customize operator setups through the network’s web application and smart contracts.

The new version will contribute to a more secure and decentralized Ethereum network, while giving stakers more power to diversify and delve deeper into their operators.”

Cryptocurrency exchange platform Poloniex also added support for the SSV token this week.

You can follow the current price action here.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.


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