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The upcoming victory of the Labor Party could lead to major changes in the blockchain industry. Market participants expect significant growth in the industry, but are also concerned about regulatory changes. Some market experts expect strict cryptocurrency regulatory policies to be introduced.
However, other market commentators believe that the cryptocurrency market will benefit from the arrival of the new government. Most market participants believe this and are therefore looking for the best cryptocurrency buying options now.
The best options for buying cryptocurrency right now
1. Subsquid (SQD)
SQD, formerly known as Subsquid Network, is a decentralized data lake and query engine designed to provide developers with efficient and permissionless data access. It aims to contribute to building an open and neutral Internet consistent with Web3 principles. The network's security relies on zero-knowledge (ZK) proofs, ensuring the integrity and privacy of data.
Its modular architecture facilitates scalability and developer convenience, making it suitable for blockchain indexing, decentralized application (dApp) development, and data analysis. Recently, SQD has partnered with T-Mobile Deutsche Telekom MMS. This collaboration involves running dedicated worker nodes in SQD's decentralized data lake.
The participation of Deutsche Telekom MMS enhances the network’s security and efficiency in blockchain data retrieval and delivery. The network infrastructure is further strengthened by adding dedicated nodes, joining the more than 700 enterprise and individual nodes already in existence.
Today, Subsquid is renamed SQD.
Witness our new brand, which marks the transition from a years-long R&D period to an institutional-grade decentralized data access layer.
All the details:
https://t.co/iWDLIRPr05
pic.twitter.com/0kcRhOwvFT
– SQD (@subsquid)
July 2, 2024
Worker nodes in the SQD network are a vital component. They respond to data requests from users, including indexers, ensuring fast and efficient access to blockchain data. This distributed approach helps keep the network strong and reliable.
In addition, Subsquid's name change to SQD reflects the platform's development and future vision. A square is adjacent to SQD in the new logo, symbolizing the "data access layer" that the platform aims to build. The shift from a cartoon-based theme to a more solid foundation highlights the maturity and commitment of the project, clearly communicating its values and long-term goals.
2. Hivemapper (HONEY)
Hivemapper’s HONEY token surged by more than 22% last week despite the overall market decline. Currently, the token is trading 84.18% above its 200-day simple moving average (SMA). Furthermore, the 14-day relative strength index (RSI) is 62.56, indicating a neutral view with the potential for sideways trading.
The token has seen gains on 16 of the past 30 days. Hivemapper operates in the DePIN space, positioning itself as a competitor to Google Maps, which has over a billion monthly active users. The platform collects map data from participants using Hivemapper’s dashcams.
When users drive and map roads, these participants will receive HONEY tokens as rewards. The token rewards depend on the demand for specific road mapping. However, Hivemapper faces strong competition from established services such as Google Maps and Apple Maps, which are pre-installed on smartphones.
This has made it difficult for Hivemapper to gain market share. Web2 services like Google Maps do not typically offer monetary compensation to volunteers, but rather non-monetary rewards related to their products and services. Nonetheless, the value of the HONEY token has risen as investors anticipate increased demand for mapped routes.
3. TRON (TRX)
TRON aims to build a decentralized internet, providing developers with a platform to create decentralized applications (dApps). As an alternative to Ethereum, TRON allows anyone to develop dApps, share content, and receive digital assets in return. A major advantage of the platform is the ability to share content without having to worry about transaction fees.
In addition, blockchain payment company Orbital recently pointed out that USDT (Tether) transactions on the TRON network accounted for 98% of all payments by its customers. This preference highlights the growing dominance of USDT in emerging markets. Users in these regions like to trade in USDT on TRON because of its high efficiency and low cost.
TRON outperforms Ethereum in the stablecoin market, mainly due to its speed. A typical TRON transaction takes about three seconds, and the network can process up to 2,000 transactions per second, far exceeding Ethereum's capabilities. Speed is crucial for payments, as merchants need to complete transactions quickly to serve other customers.
The TRX token is trading at $0.1223 at the time of writing, down 4.58% on the day. However, the token is up 0.36% over the past week and is trading 6.77% above its 200-day SMA. Furthermore, the token is up 18 of the past 30 days and has high liquidity based on its market cap.
4. LayerZero (ZRO)
LayerZero has seen significant price growth over the past week, gaining 19.91%. The token runs on the Ethereum blockchain and supports decentralized applications (dApps) that transfer data between different blockchains. The platform can send censorship-resistant messages using immutable smart contracts.
Despite last week’s sharp price increase, current market sentiment towards ZRO remains negative. However, the outlook has improved significantly compared to previous weeks. If this trend of improving sentiment continues, it could have a positive impact on ZRO’s price.
Currently, ZRO is trading at $3.09 and has high liquidity relative to its market cap. Recently, LayerZero announced an integration with Flare. This collaboration aims to enhance blockchain connectivity and interoperability, expanding Flare’s capabilities on multiple blockchain networks.
This integration highlights Flare’s support for decentralized data management and dApp development. By facilitating the sharing of data between different networks, this move could significantly expand the scope and functionality of dApps.
5. Shiba Shootout (SHIBASHOOT)
Shiba Shootout is a unique western-themed project centered around its main character, Marshal Shiba, a cowboy-like figure in the fictional Shiba Gulch. This setting provides the backdrop for the various features and activities within the project.
The most striking feature of Shiba Shootout is its innovative staking mechanism, called Cactus Staking. This allows holders to lock up their SHIBASHOOT tokens and earn rewards over time. Transparency is paramount and all staking data can be viewed on the official dashboard page.
At the time of writing, the Annual Percentage Yield (APY) is over 20,72%, with over 15 million tokens locked. The Digital Cactus visualizes your growing returns, which expand as you keep your stake longer.
Furthermore, the project actively engages the community through token governance meetings. These meetings let users vote on important project decisions, allowing them to participate in its development. Additionally, the Lucky Lasso sweepstakes offer token-based draws that provide the opportunity to win a variety of prizes.
Saddle up!
# Shiba Shootout
Not only a
#memecoin
, it's a western-themed crypto adventure!
Enjoy fun and excitement in Shiba Gulch with Marshal Shiba and Sharpshooters.
pic.twitter.com/a3BFVx7u42
– shibashootout (@shibashootout)
July 1, 2024
The platform also features a savings saddle bag feature. This allows users to automatically transfer a portion of ShibaShootout tokens to a designated wallet. This system helps participants reserve tokens for future use or investment, promoting long-term savings.
Shiba Shootout incorporates several innovative and community-oriented features into its western theme. The Cactus staking mechanism provides high APY and a visual progress indicator.
In addition, community governance and lottery functions enhance user participation, while the savings saddle bag function encourages rational financial planning.
SHIBASHOOT combines creative themes with practical staking and savings mechanisms to provide users with a comprehensive and engaging experience.
Visit Shiba Shootout Presale
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