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The impending victory of the Labour Party could lead to significant transformations within the blockchain sector. Market participants anticipate significant growth within the sector amid concerns over regulatory changes. Some market experts expect the introduction of stringent cryptocurrency regulations.
However, other market commentators expect the crypto market to benefit from the incoming administration. Most market participants believe this to be true, thus searching for the best crypto to buy now.
Best Crypto to Buy Now
SQD recently partnered with MMS, and this collaboration involves operating dedicated worker nodes within SQD’s decentralized data lake. Meanwhile, Orbital highlighted that USDT (Tether) transactions on the TRON network account for 98% of all payments processed by its clients. Also, the HONEY token surged over 22% last week despite a general market decline.
1. Subsquid (SQD)
SQD, previously known as Subsquid Network, is a decentralized data lake and query engine designed to provide developers with efficient and permissionless access to data. It aims to contribute to building an open and neutral internet aligned with Web3 principles. The network’s security relies on Zero-Knowledge (ZK) proofs, ensuring data integrity and privacy.
Its modular architecture facilitates scalability and developer convenience, making it suitable for blockchain indexing, decentralized application (dApp) development, and data analytics. Recently, SQD recently partnered with T-Mobile Deutsche Telekom MMS. This collaboration involves operating dedicated worker nodes within SQD’s decentralized data lake.
Deutsche Telekom MMS’s participation enhances the network’s security and efficiency in blockchain data retrieval and delivery. The network’s infrastructure is being strengthened with the addition of dedicated nodes, joining over 700 corporate and individual nodes already in place.
Today, Subsquid becomes SQD.
Meet our new brand, marking the transition from a years-long R&D period to an institutional-grade decentralized data access layer.
All the details: https://t.co/iWDLIRPr05 pic.twitter.com/0kcRhOwvFT
— SQD (@subsquid) July 2, 2024
Worker nodes in the SQD network are critical components. They respond to user data requests, including indexers, ensuring swift and efficient access to blockchain data. This distributed approach helps maintain the network’s robustness and reliability.
Furthermore, Subsquid’s rebranding to SQD reflects the platform’s evolution and vision for the future. The new logo, featuring a block next to the SQD, symbolizes the ‘data access layer’ the platform aims to build. This change from a cartoon-based theme to a more solid foundation underscores the project’s maturity and commitment to clearly communicating its values and long-term goals.
2. Hivemapper (HONEY)
Hivemapper’s HONEY token surged over 22% last week despite a general decline in the general market. Currently, the token is trading 84.18% above its 200-day Simple Moving Average (SMA). Moreover, the 14-day Relative Strength Index (RSI) is 62.56, suggesting a neutral outlook with potential for sideways trading.
Over the past 30 days, the token had 16 days of upward movement. Hivemapper operates in the DePIN space, positioning itself as a competitor to Google Maps, which has over a billion monthly active users. The platform gathers mapping data through contributors who use Hivemapper dashcams in their vehicles.
As users drive and map roads, these contributors earn HONEY tokens. The token rewards depend on the demand for mapping specific roads. However, Hivemapper faces stiff competition from established services like Google Maps and Apple Maps, which come pre-installed on smartphones.
This makes it challenging for Hivemapper to gain market share. Web2 services like Google Maps do not typically offer monetary compensation to their volunteers. Instead, they provide nonmonetary rewards related to their products and services. Nonetheless, the HONEY token has increased in value as investors expect higher route mapping capacity.
3. TRON (TRX)
TRON aims to establish a decentralized internet, offering developers a platform to create decentralized applications (dApps). As an alternative to Ethereum, TRON allows anyone to develop dApps, share content, and earn digital assets in return. One of the platform’s main advantages is sharing content without worrying about transaction fees.
Furthermore, Blockchain payments firm Orbital recently highlighted that USDT (Tether) transactions on the TRON network account for 98% of all payments processed by its clients. This preference highlights USDT’s growing dominance, particularly in emerging markets. Users in these regions favor transacting in USDT on TRON due to its efficiency and lower costs.
TRON outperforms Ethereum in the stablecoin market primarily due to its speed. A typical TRON transaction takes about three seconds, and the network can handle up to 2,000 transactions per second, significantly surpassing Ethereum’s capabilities. Speed is crucial for payments, as merchants need to complete transactions quickly to serve other customers.
🌐#TRON is not just leading the stablecoin market but also transforming how businesses operate globally.
📊 Share of Stablecoin Transactions by Blockchain on Orbital:#TRON : 97.62%#ETH: 2.12%#SOL: 0.21%#BNB: 0.05%#MATIC : 0.01% pic.twitter.com/ciyfyO41cV
— TRON DAO (@trondao) July 2, 2024
The TRX token is changing hands at $0.1223 at the time of writing, experiencing a 4.58% dip intraday. However, the token has risen by 0.36% over the past week and is trading 6.77% above the 200-day SMA. Moreover, the token has experienced 18 green days in the last 30 days and high liquidity based on its market cap.
4. LayerZero (ZRO)
LayerZero has experienced a notable price increase, rising by 19.91% over the past week. This token operates on the Ethereum blockchain and supports decentralized applications (dApps) in transferring data across various blockchains. The platform can send censorship-resistant messages using immutable smart contracts.
Despite the price surge last week, market sentiment towards ZRO remains negative at press time. However, there has been a marked improvement in outlook compared to previous weeks. If this trend of improving sentiment continues, it could positively influence ZRO’s price.
Currently, ZRO is trading at $3.09 and maintains high liquidity relative to its market capitalization. Recently, LayerZero announced an integration with Flare. This collaboration aims to enhance blockchain connectivity and interoperability, expanding Flare’s capabilities across multiple blockchain networks.
The integration highlights Flare’s support for decentralized data management and dApp development. By facilitating data sharing across different networks, this move could significantly broaden the scope and functionality of dApps.
5. Shiba Shootout (SHIBASHOOT)
Shiba Shootout presents a unique Wild West-themed project centered around its main character, Marshal Shiba, a cowboy-like figure in the fictional Shiba Gulch. This setting forms the backdrop for various features and activities within the project.
The standout feature of Shiba Shootout is its innovative staking mechanism known as Cactus Staking. This allows holders to lock up their SHIBASHOOT tokens and earn rewards over time. Transparency is key, with all staking data available on the official dashboard page.
At press time, the annual percentage yield (APY) is over 2072%, and over 15 million tokens are already staked. The digital cactus visually represents your growing rewards, expanding as you maintain your stake for more extended periods.
Furthermore, the project actively involves its community through Token Governance Roundups. These roundups let users vote on important project decisions, giving them a say in its development. Additionally, the Lucky Lasso Lotteries offer token-based draws, providing opportunities to win various prizes.
Saddle up! #ShibaShootout is more than a #memecoin it's a Wild West crypto adventure! 🐾💥
Join Marshal Shiba & the Sharpshooters in Shiba Gulch for fun and excitement. 🤠🚀 pic.twitter.com/a3BFVx7u42
— shibashootout (@shibashootout) July 1, 2024
The platform also features a Savings Saddlebags functionality. This allows users to automatically transfer a portion of their ShibaShootout tokens into a designated wallet. This system helps participants set aside tokens for future use or investment, promoting long-term savings.
Shiba Shootout integrates several innovative and community-focused features within its Wild West theme. The Cactus Staking mechanism offers high APY and visual progress indicators.
Moreover, Community governance and lottery features enhance user engagement, while the Savings Saddlebags feature encourages prudent financial planning. SHIBASHOOT combines thematic creativity with practical staking and saving mechanisms to provide users with a comprehensive and engaging experience.
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