With the growing adoption of blockchain technology in various digital asset infrastructures, a team from Abu Dhabi, known for its wealth from the oil industry, has made a significant entry into the space with the launch of the Venom Blockchain. 

Venom Blockchain Market Cap Soars

Venom operates as a foundational Layer 0 blockchain network, equipped with dynamic sharding and a proof of stake (PoS) consensus method. Designed to offer a scalable and efficient infrastructure, this advanced blockchain platform is tailored for the development of diverse products. It seamlessly bridges governmental applications and traditional Web3 projects through its sophisticated mesh network architecture. 

The distinguishing feature of the Venom blockchain is its infrastructure, which, according to its official website, is capable of processing 100,000 transactions per second, with an average fee per transaction of just $0.0002. 

As a result, the Venom Blockchain is currently attracting significant attention, as evidenced by various metrics. The Venom Blockchain currently boasts a market capitalization of over $5.2 billion and a trading volume of over $200 million, highlighting Abu Dhabi’s interest in the technology.

Over One Million Users In The First Year

The launch of Venom had a significant impact, attracting over one million users in 24 hours, demonstrating the platform’s appeal to investors and developers for building Web3 products.

In addition, the platform reportedly has over 20 projects ready to debut on the platform and several pilot stablecoin initiatives in different countries, underscoring the confidence developers have in its infrastructure.

Overall, the rise of Venom Blockchain underscores Abu Dhabi’s ability to adopt innovation beyond its traditional sectors and demonstrates the emirate’s interest in promoting the advancement of blockchain technology. 

On March 27, the native token of the blockchain, VENOM, was listed on KuCoin, leading to a significant price surge of over 27% within 24 hours. Presently, the token is trading at $0.6580, reflecting a recent increase of 3.8% in the past trading hour.

In the past 24 hours, the trading volume of the VENOM token has reached $62,515,705, marking a notable increase of 193.60%, according to CoinGecko data.  

Featured image from Shutterstock, chart from TradingView.com 

In what was certainly a surprise to the industry, DOGE has been one of the market’s biggest winners Thursday. Continuing a trend of price increases throughout March, Dogecoin is now forecasted to reach $0.50 as soon as April after a 16% increase that took place today.

The original meme coin is now trading at $0.21 and is at its highest level since 2021. However, what’s even more optimistic about the token is that its increase is following a clear trend. Throughout this month, Dogecoin has increased more than 115% according to CoinMarketCap.

Also Read: Robinhood Receives 250 Million DOGE Amid 10% Spike in Dogecoin Price

Dogecoin Passes $0.2 For 1st Time Since 2021; is $0.5 Next?

The digital asset market has seen a plethora of assets impress with their performance so far this year. Chief among them was Bitcoin, which rode Spot ETF interest and excitement to an all-time high of $73,000 in March. Thereafter, a host of different cryptos have been outperforming many expectations.

Among them is the original meme coin, as DOGE has been one of the surprises to emerge toward the end of the week. Now, there is an expectation that Dogecoin’s price could be headed to $0.50 as soon as April after its 16% increase today. The development carries over from some experts who predicted a journey to a new all-time high even before the Bitcoin Halving event takes place.

Also Read: Dogecoin (DOGE) Historical Trend Hints at $1 Pre-Halving

The asset has seen a plethora of bullish signals encourage its ongoing ascension to its current level. Moreover, those don’t appear to be slowing down. Dogecoin has seen its transaction volume increase to $9.2 billion over the last 48 hours alone. Additionally, its active addresses have notably surpassed the 6 million mark.

Additionally, the bullish momentum should continue as Coinbase has announced it will list Dogecoin futures starting the first of April. That should provide even more positive sentiment that is compounded by the ever-present Elon Musk effect.

The Dogefather has hinted at possible X-integration of the asset, with those talks skyrocketing its value. The combination of the upward trajectory that it is facing, and external development could provide the necessary developments for Dogecoin to skyrocket next month.