Although the red color seems to be dominant in the crypto money market, including Bitcoin (BTC), some altcoin projects diverged from the market in terms of price with the important news they gave.
Altcoin price surges 60% after its innovation
Tranchess (CHESS) has seen a sharp increase of more than 60% in quotes since the start of today’s trading session, despite the uncertainty that has enveloped the crypto market and turned it into the red. The reason for such excellent price action was the market hype surrounding Ethereum, or rather liquid staking options. Although the altcoin price later pulled back, it was trading at $0.3251 at press time, up 25% on a daily basis.
So, even though Tranchess was originally a project on BNB Chain, that hasn’t stopped the development team from adding ETH liquid staking capabilities to a platform originally designed for farming. So, using Tranchess for this purpose, you can deposit 2.7% of your Ethereum and get qETH in return. The rate on the platform is noticeably lower than most of its larger competitors, but that’s not the key. The truth is that the Ethereum liquid staking innovation was introduced on Tranchess two months ago, and CHESS has only now had a backlash.
Harmony (ONE) enables massive Hard Fork
cryptocoin.com As we reported, Harmony (ONE), one of the first shared blockchains, is sharing the details of the main hard fork activation. With the new mechanism, it will be easier than ever to move value between parts. According to the statement shared by the Harmony team, the high-performance segmented L1 Blockchain compatible with the Ethereum Virtual Machine (EVM) v2023.1.0 was successfully activated yesterday at block height 37683200 (period 1323).
With the new technical design, ONE holders can seamlessly move tokens between shards without requiring special expertise and writing a single line of code. The upgrade was supported by all major centralized crypto exchange platforms. Meanwhile, any action was required by ONE enthusiasts.
Users of MetaMask, the most popular EVM non-custodial wallet, among other wallets, can enjoy the advanced functionality of Blockchain. Fragments can be better understood as interconnected sub-blockchains. Sharding is the most complex methodology of scaling. Alongside Harmony, this instrument is used in the design of the NEAR Protocol (NEAR).
Altcoin price rises after Upbit listing
Astar Network (ASTR), one of the side-chains of Polkadot Blockchain, is seeing intense price action today. Astar Network saw a 24% increase on the day. However, later the price pulled back. The altcoin is still changing hands at $0.0756, up 18% on a daily basis at press time.
While the primer is not known for such hype price increases, the current moves are linked to ASTR’s listing on South Korean trading platform Upbit. Astar Network announced the list on Twitter. The project team said that the availability of its native token on Upbit will further increase its availability for new users in Japan and South Korea.
Astar Network is a dApp hub on Polkadot that supports Layer-2 solutions like Ethereum, WebAssembly and ZK Rollups. Astar Network supports smart contracts in a multi-chain environment, empowering Polkadot developers who were unable to achieve such accessibility in Polkadot Relay-Chain. The protocol has grown tremendously since winning the para-chain auction on Polkadot, and has now established itself as one of the liveliest smart contract hubs in Polkadot.
Dymension with Cosmos tab completes funding round
Dymension, a next-generation scalability layer for on-chain applications on the Cosmos (ATOM) platform, has completed a strategic funding round. It also announced the general test-net launch date. According to the official statement shared by Dymension, a platform that provides infrastructure for second-tier scaling solutions on Cosmos, the $6.7 million funding round has been successfully completed. The tour was led by Big Brain Holdings and Stratos, while DraftKings’ Shalom Meckenzie, on-chain game DAO Matchbox, and others also supported Dymension in its fundraising efforts.
Introducing itself as the ‘Home of RollApps’, the startup offers a mass development kit (‘RDK’) for the Cosmos-centric modular network of Layer-2 Blockchains. Dymension’s EVM compatible aggregations are the first of its kind for the Cosmos and IBC ecosystems. Yishay Harel of Dymension Labs highlights the immense importance of this release for the advancement of his product and the L2 scaling ecosystem as a whole:
Dymension is making modular blockchain a reality today. We are scaling a Blockchain network with the technology to make the biggest paradigm shift since Ethereum. Dymension Hub will be the hub of a new value internet made up of multiple modular Blockchains.
The platform will launch the first iteration of the public test-net on February 15, 2023. All Web3 enthusiasts are welcome to experiment with a new RDK.
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