BlockDAG’s $66 million presale boosts mainstream cryptocurrency adoption as Solana trading increases and Ethereum gas fees drop
As the market downturn affects established cryptocurrencies, Solana’s trading volume on DEX has surged, giving the company new momentum. At the same time, Ethereum gas fees have surprised many by falling to a five-year low. Amid these shifts, BlockDAG is developing a technology that simplifies the adoption of blockchain and makes it accessible to a wider audience.
This approach has already gained significant traction, with over $66 million raised in pre-sales. These developments demonstrate how different players are navigating the current challenges facing the market and each finding unique ways to drive progress.
Despite price decline, Solana’s trading volume increases
Solana has seen a surge in trading activity recently, with its value reaching a daily high of $156.15, although the price has since dropped to $145.27. This drop represents a 4.34% decline over the past seven days. The increase in Solana trading volume on decentralized exchanges (DEX) has played a role in this fluctuation. According to DeFiLlama, Solana’s DEX trading volume exceeded $4 billion in 24 hours, setting a new record.
While this increase in trading volume suggests continued interest in Solana’s ecosystem, the recent price drop suggests that the market’s enthusiasm may be muted. Despite the surge in activity, Solana’s position in the market faces challenges, and its potential for sustainable growth remains uncertain.
Ethereum gas fees drop as price falls
Ethereum gas fees have dropped significantly, indicating lower network traffic compared to previous levels. Recently, the median cost of sending an Ethereum transaction dropped to 1.9 Gwei, with low-priority transactions dropping to 1 Gwei or less. This reduction, which has reached a five-year low, is partly due to increased use of Layer 2 networks.
The Ethereum gas fee reduction is due to the Dencun upgrade, which introduced changes such as proto-danksharding to reduce transaction costs. Despite this fee reduction, Ether prices have continued to decline. This month, they have fallen by 14.37%, dropping to $2,741. This drop highlights the ongoing challenges in the market, even with reduced transaction costs.
BlockDAG’s low-code/no-code technology promotes blockchain adoption
One of the main obstacles to mainstream blockchain adoption is the complexity and lack of clarity in building decentralized solutions. BlockDAG addresses this challenge by offering a low-code/no-code platform that makes it easy for users to build decentralized applications (dApps), utility tokens, meme tokens, and digital asset products without deep technical expertise.
By providing a set of ready-made templates that can be easily customized, BlockDAG simplifies the development process and allows anyone to bring their projects to life faster.
This approach accelerates development timelines and makes blockchain technology accessible to a wider audience, which is critical to fostering innovation and supporting the growth of diverse applications, from digital art markets to tokenized assets.
BlockDAG’s efforts have garnered significant attention and raised over $66 million. In Batch 21, the project has a coin price of $0.017, with less than 55 million remaining of the 12.6 billion coins sold. This progress underscores BlockDAG’s commitment to making blockchain more inclusive and driving the future of decentralized digital services.
Final considerations
The drop in Ethereum gas fees and the increase in Solana trading volume have provided a spark of optimism among traders even as prices drop. Increasing market participation through the accessibility of blockchain technology is key to growth. BlockDAG aims to accelerate mainstream cryptocurrency adoption through its low-code/no-code platform that allows anyone, regardless of coding skills, to create tokens, meme coins, NFTs, and engage with digital asset products. This approach attracts many crypto enthusiasts who see the potential for wider involvement in the blockchain space.
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Disclosure: This is a sponsored press release. Please do your research before buying cryptocurrencies or investing in projects. Read the full disclosure here.
