Thursday, 28 March 2024
Trending

Crypto News

XRD pumps after Babylon upgrade news

XRD pumps after Babylon upgrade news

  • Radix price was up 40% in 24 hours and 118% over the past week as trading volume jumped 155%.
  • Gains for XRD come as the layer-1 blockchain announced the date of an upcoming major upgrade.
  • XRD has broken into the top 50 cryptocurrencies by market cap with $1.16 billion as Bitcoin price looks to retake the $30k level.

The price of Radix (XRD) is up 40% in the past 24 hours after massive buying pressure pushed it past the psychological $0.10 mark early Tuesday. Radix is outperforming the top coins across the daily, weekly and monthly charts even as Bitcoin price looks to reclaim $30,000 and Ethereum moves above $2,100.

XRD tokens have seen a 155% jump in daily trading volume in the last 24 hours, a scenario that comes from the recent spike in market activity for the cryptocurrency. The price gains have seen XRD break into the top 50 cryptocurrencies by market ranking. 

CoinGecko data shows Radix currently ranks 48th on the list, with $1.16 billion in market cap.

Radix up after Babylon upgrade date announcement

As the cryptocurrency market teeters on the verge of a new bull market, it’s no doubt Radix has seen renewed bullish momentum. However, most of the buying pressure for XRD is down to the hype around its upcoming developments.

Radix is a layer-1 blockchain network built to offer truly decentralised and scalable DeFi access. In the past few days, the XRD price has surged after news of its upcoming smart contracts integration. The network will also soon add full atomic composability, with support for sharding.

The highly anticipated network growth will be part of the Babylon upgrade, whose launch date was recently confirmed for 31st July 2023. According to Radix, the upgrade is expected to pave the way for mainstream adoption of Web3 and DeFi on Radix. Currently, the features are only available in “tech demo,”

Radix price outlook

The positive sentiment has benefitted Radix bulls. Having struggled to break past resistance around $0.08 last week, XRD/USD exploded to an intraday high above $0.12 on early…

Click Here to Read the Full Original Article at CoinJournal: Latest Bitcoin, Ethereum & Crypto News…