BlockDAG is an innovative approach to the creation of new distributed ledgers and it has done incredible fundraising.
The project has been able to raise millions of funds and now seems to be challenged in taking over Solana and Kaspa meme coins.
In this news piece, let us look more into the details of BlockDAG and the recent developments.
BlockDAG Is Emerging
BlockDAG seems to be an evolving leader that has the capability to overtake Solana, Kaspa, and multiple other meme coins out there. In a remarkable achievement, BockDAG has raised over 32.4 million US dollars.
It has marked an 800% rise in its total value. This is indeed a notable event in the crypto industry and has succeeded in grabbing the attention of crypto investors, traders, and various crypto circles.
When one crypto gets dominance over the market, it will result in a significant decrease in the demand for the cryptos. Likewise, the rapid rise of BlockDAG has a huge probability of shadowing other major cryptos in the industry.
We have already reported about the outstanding performance that BockDAG has showcased as a presale crypto in the London Picadilly Circus.
Currently, the project aims to achieve 100 million US dollars in liquidity. If the crypto succeeds in achieving that, it will be able to establish itself among other cryptos such as Dogecoin, Ethereum, and more.
The project’s Batch 14 coins faced a quick sell out and thus it has been able to jump to Batch 15. The rapid sell-out of the previous batch of coins has resulted in creating anticipation among crypto enthusiasts.
The early investors have huge investments as they have already witnessed an 800% return from the Batch 1 coins.
BlockDAG is a Layer 1 blockchain and it was inspired by major cryptos like Bitcoin and Kaspa. Its most advanced PoW algorithm delivers unmatching security, top speeds, and top-layer decentralization.
BlockDAG defines itself as ‘built for the future’. It has the capability to power everyday applications to the decentralized finance protocols that are enterprise-grade.
It provides the power to mine from anywhere around the globe. BlockDAG says it aims to simplify mining and make it accessible for everyone.
How does millions worth of fundraising affect Solana and Kaspa?
Here let us look into the details of the challenge that BlockDAG has raised for Solana and Kaspa.
Solana
The start of 2024 has made it clear that it was definitely a year for the meme coins on the Solana blockchain.
The meme coins launched on the network that received massive attention were BONK and WIF. Previously, BONK has soared 400% and allowed a stage of price stabilization.
The Solana coin has reported establishing a strong presence in the crypto market. Earlier the volatility of the coin was high and unpredictable.
However, now it seems that the BONK coin does not have the previous levels of volatility that it has in the market.
Another Solana coin worth mentioning is the WIF coin. WIF has showcased an extremely strong performance in the market and has set new records.
However, over the past while it seems that WIF’s performance is also dropping. Or it does not have the steady upward growth that it is supposed to have.
Kaspa
Kaspa (KAS) has been ascending to newer heights and some have suggested that it has the potential to pose a potential threat to Bitcoin, now it seems that BlockDAG is posing a potential threat to Kaspa.
The reshaping of Kaspa regarding its scalability and proof of work protocol has marked a bright future for it.
It stays as a unique project with the Rust node upgrade that sets new benchmarks. This has resulted in increasing its processing capability to ten blocks per second. It has sparked a wide-scale contrast to the transaction rate of Bitcoin which was slower than this.
As of the latest reports, the market value of Kaspa is 1 US dollar. However, it is to be noted that the top crypto analysts have examined and forecasted that KAS has the potential to dominate the crypt market and rise to the elite club of cryptocurrencies.
Recently, the trends have shown that Kaspa was receiving more attention from investors and the current investor sentiment has also noted that the investor circles have a positive attribute towards KAS.
Closing Thoughts
The explosive growth potential that many cryptocurrencies have has led to significant uncertainties many times. Therefore, we can not assume much about BlockDAG as well.
It can be said that the project has cutting-edge advancements and has introduced a sleek dashboard with updated features. At the same time, we have to wait more to know about anything that is going to take place in the crypto industry.
We suggest you stay tuned to us. Our team here at eBizMBA is dedicated to presenting the latest and factual news before you.
