Venom Blockchain Launch Triggers Huge Surge In User Adoption, Surpassing 1 Million In A Single Day

A team based in Abu Dhabi, famous for its oil wealth, has recently entered the blockchain technology scene by introducing the Venom Blockchain. With increasing use of blockchain tech in digital assets, this is an significant move from the Abu Dhabi team.

Venom Blockchain Market Cap Soars

Venom functions as a base Level 0 blockchain network, featuring flexible sharding and proof of stake (PoS) consensus mechanism. Its primary goal is to deliver a scalable and efficient foundation for various product creations. This sophisticated blockchain system effortlessly connects governmental applications and standard Web3 projects via its intricate mesh network design.

The unique aspect of Venom’s blockchain lies in its robust infrastructure, as stated on its website, enabling it to handle up to 100,000 transactions every second at an average cost of mere cents (only $0.0002) per transaction.

Due to its noteworthy qualities, the Venom Blockchain is drawing considerable interest lately. This is evident from several key indicators. For instance, the Venom Blockchain has a market capitalization of more than $5.2 billion and a daily trading volume exceeding $200 million, which underscores Abu Dhabi’s strong investment in this technology.

Over One Million Users In The First Year

Within just one day of Venom’s debut, it drew in more than a million new users, proving to potential investors and creators that the platform is an appealing choice for developing Web3 projects.

Moreover, the platform is believed to be hosting around 20 upcoming projects and various experimental stablecoin projects in diverse regions, demonstrating the faith of developers in its framework.

In simple terms, the emergence of Venom Blockchain in Abu Dhabi highlights the emirate’s capacity to embrace novel technologies even outside of their conventional industries. It also signifies Abu Dhabi’s commitment to fostering the development of blockchain technology.

Venom Blockchain Launch Triggers Huge Surge In User Adoption, Surpassing 1 Million In A Single Day

On March 27th, VENOM, the native token of the blockchain, became available for trading on KuCoin. This listing caused a substantial price rise of approximately 27% within a single day. Currently, the token is priced at $0.6580, representing a recent gain of around 3.8% in just the past hour.

Over the last day, the VENOM token has seen a significant surge in trading activity with a total volume of approximately $62.5 million, representing a substantial 193.60% rise based on information from CoinGecko.

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2024-03-29 00:22