NEAR Protocol has seen the biggest increase in unique active wallets, followed by Solana and Polygon in 2024.
The year 2024 has been a remarkable one for the blockchain industry, with significant growth in unique active wallets (UAWs) across various platforms. Leading this surge is NEAR Protocol, which has seen an unprecedented increase in UAWs, followed closely by Solana and Polygon. This growth is indicative of the evolving landscape of blockchain technology and the increasing adoption of cryptocurrencies.
NEAR Protocol, a decentralized application platform, has made significant strides in 2024. With a focus on user-friendly experiences and developer support, NEAR has implemented features such as meta transactions and zero-balance accounts, which have greatly enhanced the onboarding of new users. These advancements have contributed to a staggering year-over-year increase of 1,902% in UAWs, marking NEAR as a formidable competitor in the blockchain space.
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Solana, known for its high throughput and low transaction costs, has also experienced a notable uptick in daily active wallets. The platform’s commitment to scalability and efficient performance continues to attract a wide range of users and developers, contributing to its growing popularity and adoption. Solana’s potential price increase, with predictions of reaching $249.34 by March 31, 2024, reflects the positive sentiment and confidence in the platform’s future.
Polygon, another key player, has seen a 118% increase in daily activity, with the launch of Gas Hero by Find Satoshi Lab playing a significant role in this growth. As a scaling solution for Ethereum, Polygon has been instrumental in providing a more accessible and cost-effective platform for decentralized applications, further cementing its position in the market.
The remarkable growth in UAWs for NEAR Protocol, Solana, and Polygon is not just a testament to their technological advancements but also to the broader acceptance of blockchain technology. As these platforms continue to innovate and provide value to users, we can expect to see further expansion and integration of blockchain into various sectors of the economy.
NEAR Protocol has continued to evolve, introducing new functionalities and improvements that enhance its ecosystem. Here, we delve into the key features that make NEAR Protocol stand out in the competitive landscape of blockchain platforms.
NEAR Protocol is designed with scalability at its core. The platform utilizes sharding technology, which allows the network to process transactions and smart contracts in parallel. This means that as the network grows, it can handle an increasing number of transactions without compromising on speed or reliability.
NEAR places a strong emphasis on developer experience. It provides a suite of tools and resources that make it easier for developers to build and deploy decentralized applications (dApps). The platform supports multiple programming languages and offers a robust set of APIs, enabling a seamless development process.
The year 2024 marks a pivotal point for NEAR Protocol, Solana, and Polygon, as they lead the charge in blockchain adoption through increased UAWs. Their success stories serve as a beacon for the potential of blockchain technology and its capacity to revolutionize the digital landscape. As the industry continues to mature, it will be exciting to witness the next wave of innovations and growth trajectories for these platforms.
TRON Foundation asserts strongly against Lawsuit with US SEC
The cryptocurrency landscape is once again at the forefront of legal scrutiny, with the TRON Foundation’s recent motion to dismiss a lawsuit filed by the U.S. Securities and Exchange Commission (SEC). This legal tussle has garnered significant attention within the crypto community and beyond, as it could have far-reaching implications for the regulation of digital assets.
The SEC’s lawsuit, which was filed in March 2023, accuses Justin Sun, the founder of TRON, and his associated companies of conducting unregistered securities offerings and engaging in fraudulent market practices. The SEC alleges that the TRON Foundation, along with BitTorrent Foundation Ltd., and Rainberry Inc. (formerly BitTorrent), offered and sold crypto asset securities, namely Tronix (TRX) and BitTorrent (BTT), without proper registration.
Furthermore, the SEC claims that Sun orchestrated a scheme to manipulate the market for TRX through wash trading and paid celebrities to promote TRX and BTT without adequate disclosures.
In response to the SEC’s allegations, the TRON Foundation has filed a motion to dismiss the lawsuit. The foundation argues that the SEC has overstepped its jurisdictional bounds, as the activities in question predominantly occurred outside the United States and involved foreign entities. The defense posits that the SEC is not a global regulator and cannot extend its regulatory reach to cover actions that are largely international in nature.
The TRON Foundation also contends that the SEC’s claims are unfounded, as there was no fair notice that the agency would pursue such allegations. They argue that the SEC’s actions are premature under the major questions doctrine, which is a legal precedent designed to limit governmental overreach and ensure that agencies operate within the boundaries set by Congress.
The outcome of this legal battle could set a precedent for how digital assets are regulated in the United States and potentially globally. If the court sides with the TRON Foundation, it may limit the SEC’s ability to regulate foreign-based crypto entities and their activities. Conversely, a victory for the SEC could affirm the agency’s regulatory authority over the crypto market, even when the entities involved are based overseas.
The case also highlights the ongoing debate over the classification of digital assets as securities. The SEC’s stance is that many tokens, including TRX and BTT, are securities and thus subject to federal securities laws. The TRON Foundation’s challenge to this view underscores the need for clearer regulatory guidelines in the rapidly evolving crypto space.
The TRON Foundation’s motion to dismiss the SEC lawsuit is a bold move that reflects the broader industry’s desire for clarity and reasonable regulation. As the case progresses, it will undoubtedly be watched closely by crypto entrepreneurs, investors, and regulators alike. The final decision will likely have a lasting impact on the regulatory landscape for cryptocurrencies and could shape the future of digital asset innovation and investment.
The stakes are high for TRON as it defends itself against the US SEC’s lawsuit. A loss could result in financial penalties, operational restrictions, reputational damage, and significant market implications. However, it could also contribute to greater regulatory clarity in the long term. The outcome of this case will be closely watched by the crypto community and could have lasting effects on the industry’s regulatory environment.