Bitcoin is the undisputed king of crypto, however, there are thousands of other projects that composed the digital assets space. Altcoins at a Glance was created, because we know nobody has the time to keep track of thousands of altcoin tokens. Cryptonewsbytes has curated the latest and most important news so you have more time to enjoy your crypto gains.
Altcoins’ Top Dog DOGE Skyrockets with DRC-20
- DOGE’s daily transaction volume recorded an all-time high after the introduction of DRC-20 tokens on its network.
- Transactions spiked to over 645,000 in a single day, but volume has since returned to its normal level of 20,000.
- DRC-20 allows the creation of new tokens within Dogecoin’s blockchain, just like ERC-20 tokens in the Ethereum (ETH) network.
- Despite the milestone, some were concerned that this would lead to network congestion.
SOL Aims to be the Apple of Crypto
- Raj Gokal wants Solana to be the Apple of crypto by focusing on user experience and performance. Gokal is one of the co-founders of Solana.
- Solana is trying to engage with new businesses, projects, and independent developers, by emphasizing the power of innovation from small teams.
- The comparison stems from Solana and Apple’s desire to make user interaction as seamless as possible. Apple focused on perfecting the customer’s screen interaction which gave consumers the iPhone, while Solana is focusing on creating a network that feels like the internet users are used to.
- Solana has just recently launched a web3-focused smartphone, which makes crypto products and services more accessible to consumers.
Bitcoin and Altcoins Stored in Several Atomic Wallets Compromised
- Several Atomic users have reported having lost their digital assets.
- Crypto Sleuth ZachXBT is trying to help with the investigation and has calculated more than $35 million in stolen funds. The biggest individual loss from the hack is estimated to be $3.5 million.
- Atomic is a non-custodial decentralized wallet that can be used to store Bitcoin, Ethereum, and more than 1000+ altcoins. Users can buy, stake, and earn using the app. KYC is not required for the wallet’s basic features.
- The exact cause of the exploit is yet to be revealed at the time of writing.
Terra Classic (LUNC) Pumps after the Announcement of an Upgrade Proposal
- LUNC, the original chain of the Terra Network, has seen a pump due to an upgrade proposal.
- The upgrade includes a minimum 5% commission for validators and a couple of security updates.
- LUNC reached shot up from 0.00008444 to 0.00011499 which represents more than a 36% increase. However, the altcoin is retracing at the time of writing.
That is it for the latest edition of Altcoins at a Glance. See you soon!
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