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.

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