As Layer-1 Altcoins Show Strength, a New Ethereum Competitor Exceeds $2,000,000,000 Market Cap
Kadena (KDA), a new Ethereum competitor, exceeds the $2 billion market cap after recovering from a weekly low of $8.78 on Monday. Earlier today; KDA reached a high of $13.50.
As the crypto markets rise from their recent downturn, one under-the-radar cryptocurrency is regaining ground quicker than Bitcoin (BTC).
Two former JPMorgan blockchain developers are said to be the pioneer of Kadena. Pact software from the Layer-1 protocol competes with Ethereum (ETH) by allowing anybody to build a smart contract.
Kadena’s patented chain design, according to the project website, will aid in the mainstream adoption of blockchain technology.
“Pact is the first truly human-readable smart contract language. It lets anyone write clearly, directly, and safely onto a blockchain – a true advance for automated contracts.
Pact automatically detects bugs and keeps the purpose of code clear… freeing you from the exploits you’ll face on Ethereum and other unsafe platforms.”
“Unlike other platforms, Kadena is designed to power global financial systems. Our protocol continually scales to higher TPS (transactions per second) as more chains are added to the network.
The developers of Kadena claim they’re also including the proof-of-work (PoW) consensus algorithm that underpins BTC but on a far greater scale.
XRP Whales Acquire 190M Tokens To Their Stash In The Last Three Months, According To Data
Santiments, a crypto analytics organization reports that whales on the XRP network acquired tokens over the last several months, so much so that even if the price of the cryptocurrency has dropped; their holdings have climbed 6% to 3.31 billion XRP in the previous three months.
This is according to data from crypto analytics firm Santiment, which examined the quantity of XRP tokens possessed by whales ranging from one million to ten million tokens over time. Santiment identified the whales as ‘smart money whale millionaires’ who maintained a one-year accumulation pattern.
Year to date; the price of XRP has increased by about 250%, as the whole cryptocurrency market has seen its price rise on a wave of institutional adoption.
Ray Dalio Believes Bitcoin Is The Gold Alternative For Millenials
In a recent interview with MarketWatch, the billionaire remarked that blockchain technology has ‘earned respect’ and that it is a tremendous success for Bitcoin.
Dalio is widely regarded as one of the most powerful and successful hedge fund managers of all time. He was not always a supporter of Bitcoin, though. However, he has now acknowledged owing a ‘small amount’ of the cryptocurrency.
While discussing investment portfolios, Dalio also stated that Bitcoin is practically a younger generation’s gold alternative and added:
“..a portfolio should start off with, under a worst-case scenario, what assets protect it and make sure it’s diversified. It’s almost a younger generation’s alternative to gold and it has no intrinsic value, but it has imputed value and it has, therefore, some merit.”
Having said that, Dalio remarked that Bitcoin is plagued by several problems. He warned that certain countries may restrict cryptocurrencies if they believe it poses a threat to the system or become “relatively appealing.”
SHIB Whale Increases Their SHIB Holdings By 2.9 Billion SHIB
This whale has received transactions of several billion Shiba Inu over the last four days. The most were 5,835.247,001 tokens. The smallest was 1,500,000,000.
They currently comprise 37.3 billion meme coins in total. All of the aforementioned transfers were made using a Paribu 5 wallet.
Over the last several days, a whale who holds the 0x69a9bd1808a215bb6861d4b3c1b684966d1d1c53 wallet has had a stunning 43 billion SHIB flow through it: Transactions including 4.5 billion, 4 billion, 3 billion, and 2 billion SHIB entered the wallet; and its owner subsequently distributed these massive amounts of meme cryptocurrency to other accounts.
The FTX coin comes in second with 6.57%, followed by USDT (4.45%).
Melania Trump Introduces An NFT Platform On The Solana Blockchain
Melania Trump, the wife of Donald Trump; the immediate past president of the United States; is establishing a non-fungible token (NFT) platform on the Solana blockchain. Melania noted in a press statement released on December 16, 2021; that the NFT platform reflects her enthusiasm for the arts.
“Melania’s Vision” is the platform’s first NFT. It’s a watercolor painting of Melania by Marc-Antoine Coulon, as well as an audio clip from her with a message of optimism. The limited-edition NFT will cost 1 Solana (SOL), which is around $187 at the current exchange rate.
As a result, Mrs. Trump is expected to distribute NFTs every month and to stage a one-of-a-kind auction of historical significance in January 2022.
The auction will include digital artwork, tangible artwork, and a real one-of-a-kind accessory.