Key Takeaways
- An all-time high of $492 marks a 60% increase in EGLD in the last three days.
- In the last two months, Layer-two TVL has more than doubled in value, reaching a new record high of $5.64 billion.
- Legislators like Senator Hume are certain that cryptocurrency will become an integral part of our daily lives.
EGLD has been trading at or around $300 before November 19. Since last Friday, the cryptocurrency has surged to a new all-time high, trading at $492.
As a result of Friday's $1.29 billion liquidity incentive scheme, the price of Elrond has risen significantly. Decentralized exchange Maiar is expected to be launched on the platform in the near future. This project intends to "supercharge" the launch.
According to a report, DEX would utilize its utility token MEX to pay for the funds, according to the statement. Users of the trading platform who supply liquidity for EGLD, MEX, and USDC will get a total of $282 million in the first month of operation.
A total of 60,000 claimable MEX tokens have already been given to Elrond's account holders.
The TVL of Ethereum's second layer has hit a new high point
TVL on Ethereum layer-two networks has risen to a new high as gas costs continue to climb, resulting in more users.
According to L2beat, the TVL across multiple layer-two protocols and networks has hit a new record high of $5.64 billion.
In November, the highest average gas prices in the Ethereum network's history were attributed to layer-two scaling solutions, which have experienced a rise in usage.
In the layer two market, Arbitrum owns a 45 percent stake, or $2.67 billion, in the whole market.
However, the Loopring layer-two (LRC) decentralized exchange (DEX) is in the third position with $580 million worth of TVL, but its own LRC token makes up most of this value.
On October 1, Layer-two TVL jumped by 110 percent from $2.68 billion to its present value, more than doubling in only a month.
Despite its reputation as a fad, Australia's Financial Services Minister says Bitcoin is not.
Legislators like Senator Hume are certain that cryptocurrency will become an integral part of our daily lives
The Australian Finance Minister, Jane Hume, has said that digital assets are not only a short-term fad. It's also possible to see "great prospects," she said, in the form of decentralized financing (DeFi).
Jane Hume - an Australian minister and senator – responded to Tony Richards (Head of Payment at the Reserve Bank of Australia), who recently labeled cryptocurrency "faddish." Investors should be aware of the asset class's potential for a catastrophic fall, which might result in significant losses for those who invest.
During an interview with the Australian Financial Review, Senator Hume voiced his disagreement with the claim. She says, "the local government should proceed carefully but not scared when it comes to cryptocurrencies." Even the Australian government should not consider bitcoin and other alternative coinage a "trend."
Our businesses and our government must accept that this is not a fad.."
According to the lawmaker, cryptocurrencies have "caught the hearts and minds" of Australians throughout the years. As many as one in every five Australian citizens has an account. Cryptocurrency's three most popular cryptocurrencies are bitcoin (BTC), ethereum (ETH), and dogecoin.
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