Venom Reaches New Heights, Surpasses One Million Registered Wallets

  • Venom Foundation has announced that it has crossed one million registered wallets.
  • In June alone, Venom recorded 277 million transactions, marking an increase of 46% from May.
  • The recent growth also includes a 93% hike in minted NFTs as part of on-chain/social tasks, reaching 5.8 million.

As per reports, Venom Foundation has surpassed one million registered wallets as of July 25. Venom is an up-and-coming blockchain platform crafted to serve the needs of the Middle East, North Africa, and other emerging economies around the world.

This one-million registration accomplishment follows Venom’s testnet launch in April of this year. The crypto community believes that this notable growth signifies the increasing appeal and adoption of Venom’s innovative blockchain solutions.

According to the Venom team, its continual growth is due to the organization’s inventive technology, stringent regulatory compliance, and secure, user-friendly environment which caters to a global user base. Reportedly, the platform’s seamless operations and timely updates on the Venom testnet further strengthen its appeal.

In June alone, Venom recorded 277 million transactions, a notable increase of 46% from the previous month. Additionally, the platform saw a 65% jump in the number of accounts with smart contracts, which now stand at 28 million. The recent growth also includes a 93% hike in minted NFTs as part of on-chain/social tasks, reaching 5.8 million.

Speaking about these developments, Christopher Louis Tsu, acting CTO and CEO Venom Foundation, stated, “Frankly speaking, it took me completely by surprise. We had 250,000 users in the first six days. Can you imagine opening a new shop in town, drawing the curtains back and seeing quarter of a million people lined up outside your door.”

Earlier this year, Venom conducted its first-ever hackathon, in collaboration with DoraHacks, Developer DAO, and Hacken. The winners took home rewards from an impressive prize pool of $225,000.

Additionally, Venom Foundation is the first to be granted a license to run a blockchain, issued by the Abu Dhabi Global Market (ADGM). The team adds that Venom’s mission to mainstream the adoption of blockchain technology while adhering to regulatory compliance continues to be the driving force behind its growth.

Comments

Post a Comment

Popular posts from this blog

STX Hits 52-Week High! Ascending Channel Points to Bullish Trajectory

Image
Stacks (STX) soars 8.74% in 24 hours, hitting a 52-week high at $2.06, riding the crypto wave. STX’s rise is attributed to Bitcoin optimism and its role as a layer 2 solution. Technical analysis points to a bullish trend, aiming for $2.6, but watch out for potential corrections at $1.6. Stacks (STX) has continued its upward trajectory, with its price recently reaching a 52-week high of $2.06, marking an 8.74% increase in just 24 hours. This surge is part of a broader trend that has seen the cryptocurrency gain 749% over the past year. Market analysts attribute this impressive performance partly to the growing optimism surrounding the potential approval of a spot Bitcoin ETF, which could further galvanize the cryptocurrency sector. STX/USD 24-hour price chart (source: CoinStats ) During the bull rally, STX’s market capitalization and 24-hour trading volume surged 9.45% and 24.95%, to $2,852,664,529 and $715,025,179, respectively.  Stacks as a Bitc
Read more

XAI tanks by 20% after airdrop and Binance listing

Image
The layer-3 gaming token fell by more than 20% after an airdrop and Binance listing on Jan. 9. According to CoinGecko, the layer-3 gaming token Xai has fallen by more than 22% in 24 hour trading. The current price of the token is $0.5231. X rate fell sharply just a day after reaching an all-time high on Jan. 9, in which the price of the coin was $0.7734. Source: CoinGecko The token price collapse occurred shortly after Xai held its first major gaming token airdrop in 2024. According to the Xai Foundation, it offered 125 million XAI tokens (or 5% of the total token supply) to eligible users, including holders of certain Xai NFTs and those operating gatekeeper nodes or validators that help support the network. Dear Xai Community, As we approach the XAI token claim, it's crucial to stay vigilant against potential scams. Please carefully read and follow these guidelines: Official Contract CLAIM Address: The ONLY legitimate $XAI airdrop claim contract address is… — XAI (@X
Read more

Bitcoin Price Prediction: MicroStrategy Boosts BTC Ownership To 1% Of Supply As This Eco-Friendly Alternative Soars Towards $7 Million

Image
The Bitcoin price gained slightly in the last 24 hours to trade at $63,857.08 as of 9:05 a.m. EST as investors tentatively accumulate the crypto. During BTC’s 12% correction over the past 7 days, MicroStrategy bought another 9,245 bitcoins for $623 million in cash between Mar. 11 and Mar. 18, according to a Mar. 19 statement . Following this latest purchase, the company’s total BTC holdings stand at 214,246 BTC, which is more than 1% of the crypto’s total supply of 21 million coins. The Bitcoin Price Bounces Off Of A Key Support 4-hour chart for BTC/USDT (Source: TradingView ) The Bitcoin price rebounded off of the $61,481.65 support level in the last 12 hours. Should bulls continue to push the market leader’s price higher, it may attempt to reclaim a position above $65,847.29 in the coming 48 hours. A 4-hour candle close higher than this significant price point could then give BTC the foundation needed to keep climbing. In this more bullish scenario, the crypto may try to fli
Read more