Thursday, November 26, 2020
No menu items!
  • News
  • Cryptocurrency
  • Contact Us
More

    A New Digital Asset That Surged By 1,800% on Its Launch Day

    Must Read

    Santiment: XRP Is Set To Surpass Ethereum in a Key Metric Maintained By ETH for Seven Months

    The cryptocurrency intelligence platform, Santiment, has indicated that the third-largest cryptocurrency by market cap, XRP, is set to surpass...

    Binance Announces Support for Spark Tokens Airdrop Planned By Flare for XRP Investors

    Binance, the arguably largest cryptocurrency exchange by trading volume, has announced the support for Spark tokens airdrop planned by...

    Ethereum 2.0 Now Ready To Go Live On 1st December with Over 700,000 ETH Deposits

    Over the past two days, there has been a remarkable increase in the commitment of the Ethereum community towards...
    Tobi Loba
    Tobi Loba
    Tobi-Loba is a creative and an award-winning writer with over 5 million readers from all over the world. She has B.A in English and Literature from a reputable University and currently studying for her M.A in the same field. She recently became a contributor at Herald Sheets in order to fulfill her thirst in reporting crypto and blockchain occurrences, the interest she built over the years.




    A new digital asset is presently attracting the attention of traders and investors in the crypto space after experiencing a 1,800% price increase on its launch day.

    As reported by Daily Hodl, Serum (SRM) is a new digital currency that will act as both utility and governance token of the decentralized derivatives exchange Serum that has its launch underway.

    According to CoinGecko, SRM underwent a big price upsurge from $0.10 to relatively $1.98 after it was officially launched. At the time of publication, SRM is trading at $1.72, with a 1464.4% price upsurge in the last 24 hours.

    One of the factors that boosted the price of SRM token was the listing on the major cryptocurrency exchange Binance.

    The blockchain project promises to strengthen several weaknesses of decentralized finance (DeFi) protocols, such as inadequate liquidity, slow processing speed, and the inability to facilitate cross-chain transactions.

    Facts behind the Speedy Growth of Serum Project

    The growth of Serum project has been rapid beyond imagination. The reason for this substantial growth can be attributed to the effort of its leader, Sam Bankman-Fried, the CEO of the crypto derivatives exchange FTX and Alameda Research.

    Going by his account, “Serum is fast, and it’s cheap, and powerful, and fully cross-chain compatible. And it’s truly, fully trustless. Serum is built on the Solana blockchain.

    Solana can process 10,000 times as much as Ethereum; and it’s 1,000,000 times cheaper. And unlike many side chains, Solana is a fully-fledged, decentralized blockchain with over 100 validators.

    This allows Serum to have full central order limit books, with the familiar market, limit, and IOC orders; processing multiple times per second; all while being fully on-chain.

    This is then combined with a powerful cross-chain protocol allowing for trustless and efficient tokenization and swaps, meaning that while living natively on Solana, Serum is interoperable on Ethereum.”

    Additionally, Serum (SRM) holders will receive discounts on trading fees. According to Bankman-Fried, the exchange is expected to go live in some weeks’ time.

    Join us on Twitter

    Join us on Telegram

    Join us on Facebook




    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest News

    Santiment: XRP Is Set To Surpass Ethereum in a Key Metric Maintained By ETH for Seven Months

    The cryptocurrency intelligence platform, Santiment, has indicated that the third-largest cryptocurrency by market cap, XRP, is set to surpass...

    Binance Announces Support for Spark Tokens Airdrop Planned By Flare for XRP Investors

    Binance, the arguably largest cryptocurrency exchange by trading volume, has announced the support for Spark tokens airdrop planned by Flare Network for the XRP...

    Ethereum 2.0 Now Ready To Go Live On 1st December with Over 700,000 ETH Deposits

    Over the past two days, there has been a remarkable increase in the commitment of the Ethereum community towards the launch of ETH 2.0...

    CipherTrace Is Determined To Unravel Monero (XMR) Transactions Obscurity

    CipherTrace, a blockchain analytics firm, is developing tools to track the transactions of the world’s largest privacy token, Monero (XMR). And in less than...

    XRP Surged Over 130% in the Last Week, Far Outpacing BTC and ETH –Forbes Explains Why

    The Ripple’s digital token XRP has been exhibiting a price uprising over the last week. It has significantly outpaced the surging trend of the...

    More Articles Like This