As blockchain technology continues to be adopted in various digital asset infrastructures, an Abu Dhabi team known for its wealth from the oil industry has entered the space in a big way with the launch of Venom Blockchain.
Venom blockchain market capitalization skyrockets
Venom operates as a foundational layer-0 blockchain network with dynamic sharding and proof-of-stake (PoS) consensus methods. Designed to provide a scalable and efficient infrastructure, this advanced blockchain platform is tailored for the development of a variety of products. Seamlessly bridge government applications and traditional Web3 projects through a sophisticated mesh network architecture.
The distinguishing feature of the Venom blockchain is its infrastructure. according to When you visit the official website, you can process 100,000 transactions per second with an average fee of only $0.0002 per transaction.
As a result, the Venom blockchain is currently attracting a lot of attention, as shown by various indicators. Venom Blockchain currently boasts a market capitalization of over $5.2 billion and trading volume of over $200 million, highlighting Abu Dhabi’s interest in the technology.
Over 1 million users in first year
Venom’s launch had a huge impact, attracting over 1 million users in 24 hours and demonstrating the platform’s appeal to investors and developers building Web3 products.
Additionally, the platform has over 20 projects ready to debut on the platform, with several pilot stablecoin initiatives in various countries reportedly underway, and developers looking to build their infrastructure. It emphasizes confidence in the structure.
Overall, the rise of the Venom blockchain highlights Abu Dhabi’s ability to embrace innovation beyond traditional sectors and demonstrates the emirate’s interest in fostering advancements in blockchain technology.
On March 27th, the blockchain’s native token VENOM was born. listed KuCoin led to a significant price increase of over 27% within 24 hours. The token is currently trading at $0.6580, reflecting a recent 3.8% increase over the past trading session.
According to CoinGecko, in the past 24 hours, the trading volume of VENOM tokens reached $62,515,705, marking a notable increase of 193.60%. data.
Featured image from Shutterstock, chart from TradingView.com
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