Avalanche (AVAX) and several altcoin projects have attracted attention with important developments in recent days. With the revelation of these developments, the prices of some of them increased. The most prominent among these was AVAX, with its 30 percent increase. Here are the latest developments in the altcoin field…
There are important developments for AVAX and these altcoins
Avalanche rose 30 percent
In a tweet, Emin Gün Sirer, CEO of AVA Labs, the driving force behind Avalanche, outlined a visionary future where cross-chain swapping becomes as easy as a single click. This revolutionary concept was made possible by AVA Labs’ strategic inclusion of parallelized global state replication into Avalanche’s core design. The key to this vision lies in Avalanche’s AWM (Avalanche Wire Message), a messaging primitive at the network layer that allows subnets in the Avalanche ecosystem to communicate seamlessly.
However, AWM currently lacks a bridge for asset transfers between different Blockchains. Despite this limitation, the announcement had a significant impact on AVAX’s market performance, with the token gaining over 30% in the last 24 hours and trading at $18.69 at the time of writing. So it experienced a significant increase of 50% in just seven days.
Important statements came from Ether.fi and Vertex Protocol
In another development, on November 12, liquidity staking protocol ether.fi launched its staking token eETH on mainnet, allowing whitelisted users to mint eETH. Meanwhile, Vertex Protocol, a decentralized trading platform on Arbitrum, announced its VRTX token distribution model, allocating 34% to ongoing incentives and various percentages to the founding team, treasury, ecosystem, early investors, future contributors, and advisors.
Orion launches Scorpio
Binance liquidity aggregator Orion also made a splash in the Ethscriptions ecosystem with the launch of rollup Scorpio, which connects traditional Ethereum Dapp applications to the Ethereum system. Relay; The Ethscriptions token scop is currently 100% minted, while offering products such as stable computing, liquidity staking, and cross-chain bridges.
dYdX rose 20 percent with new statements
The dYdX Foundation reported that more than 349 million ethDYDX has migrated between chains since the creation of the dYdX Chain mainnet, bringing the total amount of committed DYDX to 6.85 million. According to market data, DYDX’s market value is changing hands at $3,371, an increase of 20.95% in the last 24 hours.
PIKA token is deactivated
In the Optimism ecosystem, Pika Protocol has decided to deactivate the PIKA token based on community feedback. PIKA holders can exchange their tokens for remaining TGE funds (3,538 ETH) at a flat rate of approximately 0.0001632 ETH per PIKA. The withdrawn funds will be transferred to Uniswap v3, valid for the next six months.
Aptos is developing a new product
Finally, Aptos Labs announced the development of Aptos Move Compiler, a new compiler for the smart contract language Move. The compiler will offer features such as getter-style function invocation, support for global higher-level functions, resource access control, returning global references, and full support for enums, addressing gaps in the original Move language design without compromising security.