Decentralized exchange dYdX (DYDX) has formed a partnership with Banxa, the firm that offers crypto on-ramp solutions. Casper Network (CSPR), on the other hand, gained momentum with the network’s release of the NFT standard. Here are the latest developments and price movements for the two altcoins…
dYdX partnered with Banxa
Earlier this week, dYdX announced the platform’s partnership with Banxa. He posted the post announcing the platform’s new fiat on-ramp service on his blog. Banxa’s on-ramp capabilities will allow dYdX users to purchase USDC via credit card, wire transfer and more. dYdX’s total locked-in value (TVL) is just over $350 million, according to DefiLlama data. Banxa’s mission is to prepare the world for Web3 with the leading global on-and-off ramp solution. Through its extensive network of local payment solutions paired with the required crypto licenses, Banxa gives its partners a greater audience reach.
Following the news, dYdX’s token DYDX rose from $1.38 to $1.60. It has recorded an increase of nearly 15 percent. But at the time of writing, the value of the coin seems to be decreasing. DYDX is changing hands at $1.42 and hasn’t changed in the last 24 hours. It is also worth noting that the coin is well below the all-time high of $27.86 recorded on September 30, 2021. Cryptocurrency has dropped 94 percent since then. Still, it remains one of the most recognizable platforms in the decentralized finance (DeFi) space.
As it is known, DYDX is the administration token of the decentralized cryptocurrency exchange. It serves to facilitate the operation of the Layer-2 protocol. It allows traders, liquidity providers as a community to contribute to the future of the protocol.
Development in Casper Network pushes altcoin price up
Casper Network (CSPR), on the other hand, gained momentum with the introduction of an NFT standard. With the release of the CEP-78 protocol, it released an enterprise-grade NFT standard. NFTs are based on the CEP-47 protocol, which first brings NFTs to the network. The protocol upgrade provides account-based access, the ability to use a single NFT contract for all NFT-related use cases.
After the news in question, the price of CSPR increased. It has seen an increase of over 20 percent over the past week. The cryptocurrency managed to rally as high as $0.0530, although it was pulled back to $0.0451 at the time of writing. As we have also reported as Koindeks.com, Casper, which went to the mainnet on March 30, 2021, came to the fore with the CBC specification. The Casper platform aims to increase the global adoption of Blockchain technology, smart contracts and DApps.