Avalanche sees record daily production of BTC.b
It is reported that according to Dune data, on March 2, Avalanche cast about 2011 new BTC. b, the largest number of BTC. b castings in a single day, and the to…
It is reported that according to Dune data, on March 2, Avalanche cast about 2011 new BTC. b, the largest number of BTC. b castings in a single day, and the total supply of BTC. b on that day increased to about 8572. Among them, about 1000 BTC. b have flowed into the ecological lending market BenQi.
About 2011 BTC. b were cast on Avalanche yesterday, nearly half of which went to BenQi
Interpretation of the news:
According to a recent report, Avalanche has broken a record in its daily production of BTC.b. On March 2, the platform reportedly cast about 2011 new BTC.b, which is the largest number of BTC.b castings in a single day. This news is significant because it highlights the growing popularity and usage of Avalanche as a blockchain platform.
The total supply of BTC.b on that day increased to about 8572, indicating the increasing demand and adoption of cryptocurrency. It is worth noting that BTC.b is a tokenized version of Bitcoin that runs on the Avalanche blockchain network. By tokenizing Bitcoin, Avalanche can offer faster transaction speeds and lower fees than the traditional Bitcoin network.
Moreover, the report highlighted that around 1000 BTC.b flowed into the ecological lending market, BenQi. This means that the market is gaining significant momentum and popularity among users. BenQi is a new lending and borrowing protocol that operates on the Avalanche blockchain. It offers significant benefits over traditional finance, such as higher interest rates, lower fees, and more accessible collateral options.
This news shows that there is a growing demand for decentralized finance (DeFi) products on Avalanche. BenQi enables users to earn interest on their cryptocurrency holdings or borrow assets at competitive rates. With a high percentage of the newly minted BTC.b flowing into the platform, it indicates that users are becoming more comfortable with the ecosystem and trust the platform.
In conclusion, this news highlights the increasing popularity and use of Avalanche as a blockchain platform. It also shows the growing interest in DeFi products and the value of tokenizing traditional assets as seen with BTC.b. Furthermore, the report highlights the emergence of BenQi as a popular lending and borrowing protocol on the Avalanche blockchain network. It is exciting to see the developments in this space, and we are sure that more exciting innovations will emerge in the future.
This article and pictures are from the Internet and do not represent Fpips's position. If you infringe, please contact us to delete:https://www.fpips.com/4867/
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Recommended articles
-
Zodia Custody expands business in Europe
It is reported that Zodia Custody, a cryptocurrency custodian under Standard Chartered Bank, has registered as a virtual asset service provider in Luxembourg, …
-
Sensorium Announces Investment Agreement With DWF Labs
On April 6, it was reported that Sensorium, an AI driven metauniverse project, officially announced that it had reached an investment agreement with DWF Labs. According to the requ
-
On-Chain Data Shows Huang Licheng Loses 4600 ETH During Blur’s Second Quarter Airdrop
On March 27th, according to on-chain data, Huang Licheng (machibigbrother. eth) lost 4600 ETHs during Blur\’s second quarter air drop.
Huang Licheng has lost 4600 ETHs during Blur\’s -
Protecting Your Crypto Wallet: Understanding Phishing Attacks on Binance Smart Chain
According to reports, PeckShield has detected phishing website attacks, diverting 2237 BNBs ($767800) from liquidity providers. The attacker has already transferred 780 BNBs to Tor
-
The Graph Welcomes Two New Members to Its Decentralized Indexing Protocol Committee
On April 26th, the decentralized indexing protocol The Graph announced that two new members will join the Graph committee, namely Chris Wessels, founder of GraphOps, the core devel
-
#The Performance of the A-Share Market Analyzed
According to the news, the A-share market closed at 3312.63 points, with the Shanghai Composite Index rising 0%, the Shenzhen Composite Index closing at 11866.31 points, with a clo
-
UK Finance Minister Demands New Tax Law for Cryptocurrencies
According to reports, British Finance Minister Jeremy Hunt announced his new measures at the annual budget meeting on Wednesday, saying that officials are revising their self-assessment tax returns to require a separate determination of the amount related to encrypted assets. The move is expected to raise an additional £ 10 million ($12 million) in tax revenue annually. At the same time, officials say they will maximize the potential of the metauniverse and manage downside risks in terms of privacy, security, and harm. UK Treasury: Taxpayers need to separately declare encrypted assets from next year Analysis based on this information:In the latest annual budget meeting on Wednesday, Jeremy Hunt, the British Finance Minister, announced new measures for self-assessment tax returns, particularly for those related to cryptocurrencies. These new measures require a separate listing of encrypted assets in their self-assessment tax returns. This step is expected to raise £10 million ($12 million) per year in tax revenue. Cryptocurrencies, including Bitcoin, have been…
-
Rug Pull on Twitter Logo (DOGE) Project: Understanding the Incident and Its Implications
According to reports, according to PeckShield monitoring, a Rug Pull occurred on the Twitter Logo (DOGE) project. The deployer obtained approximately 1.4 ETH of funding from Binanc
-
Distribution of Digital Currency by Thai Prime Minister Contender for Local Economic Stimulus: A Step Towards a Cashless Economy?
According to reports, real estate tycoon and Thai Prime Minister contender Srettha Thavisin has promised to distribute 10000 Thai baht (approximately $300) of digital currency to c
-
Coinbase Product Manager and Brother May Settle Insider Trading Charges
On April 5th, it was reported that former Coinbase product manager Ishan Wahi and his brother Nikhil Wahi may reach a settlement on charges such as insider trading based on their c
-
Encryption Market Hits $1.23 Trillion: An Insight into the Cryptocurrency Market
According to reports, according to CoinGecko data, the current total market value of encryption is approximately $1.23 trillion, which has increased by 0.4% in the past 24 hours. T
-
US Stocks Drop in Short Term
According to reports, US stocks fell in the short term, with the Dow down more than 2%, the Nasdaq down 1.18%, and the S&P 500 index down 1.79%. US stocks fell in the short term, with the S&P 500 index down 1.79% Analysis based on this information:The US stock market experienced a downturn in the short term, with major indexes such as the Dow Jones Industrial Average, the Nasdaq Composite, and the S&P 500 index, all showing significant drops. Reports show that the Dow Jones fell by over 2%, with the Nasdaq down by 1.18%, and the S&P 500 index experiencing a 1.79% decrease. This latest trend in the market should be viewed with concern by investors and businesses alike. The stock market is a crucial barometer of economic stability and with a downturn, it is indicative of the current state of the country’s financial health. The reasons behind the decline are open to debate, but it is likely a…
-
Auros Global’s Liquidation Termination and New Investment from Vivienne Court Trading and Bit Digital
It is reported that Auros Global, a crypto trading company, terminated the court supervised interim liquidation last week after a major debt restructuring, and obtained a new inves
-
TrueUSD suspends TUSD casting and redemption business for Signature Bank users amidst regulatory closure
It is reported that TrueUSD tweeted that the Signature Bank has been closed by the US regulators, so TrueCoin suspended the TUSD casting and redemption business for a small number of Signature Bank users. The coinage and redemption of other users in the TrueUSD banking network have not been affected. TrueUSD: part of USD funds are deposited in Signature Bank Analysis based on this information:TrueUSD, a stablecoin pegged to the US dollar, recently announced that it has suspended the TUSD casting and redemption business for a small number of Signature Bank users. The reason behind this move was the reported closure of Signature Bank by US regulators. This means that users associated with the affected bank will not be able to use TrueUSD at the moment. However, the coinage and redemption of other users in TrueUSD’s banking network remain unaffected by the regulatory closure. TrueUSD is one of the few cryptocurrencies that is not as volatile as others due to…
-
NFL Rivals Video Game to Be Transferred to Poca: What You Need to Know
According to reports, NFL Rivals, a professional rugby based video game launched by chain game studio Mythical Games, will be transferred from Ethereum to Poca. Mythical Games stat
-
The Sui Foundation will send an email notification to the whitelist winners within 24 hours
On April 21st, according to the official community of Sui, the trading platform has started receiving the whitelist qualification list (starting from ByBit), and the Sui Foundation