Decentralized exchange dYdX (DYDX) has formed a partnership with Banxa, the firm that provides 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 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 native payment solutions paired with the required crypto licenses, Banxa gives its partners a higher audience reach.
Following the news, dYdX’s token DYDX rose from $1.38 to as high as $1.60. It has recorded an increase of nearly 15 percent. However, at the time of writing, the value of the coin seems to be falling. 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 its all-time high of $27.86 recorded on September 30, 2021. The cryptocurrency has dropped 94 percent since then. Still, it remains one of the most popular platforms in the decentralized finance (DeFi) space.
As it is known, DYDX is the management 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 built on the CEP-47 protocol, which first brought 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.
The value of CSPR rose after the news in question. It has seen an increase of over 20 percent over the past week. The cryptocurrency managed to rally as high as $0.0530, though it had retraced to $0.0451 at the time of writing. As we reported as Kriptokoin.com, Casper, who went to the main network 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.
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