July 16, 2024
Ethereum News

Dogecoin Flips Ethereum Transaction Count

Dogecoin flipped the Ethereum transaction count. Take a look at the prices of the coins and make sure to also check out the latest predicitons.

DOGE vs ETH

There has been a significant increase in network spam on Dogecoin, leading it to process more transactions than even the Ethereum blockchain.

In the last week alone, the memecoin network has processed over 7.9 million transactions, which is an 11% increase from Ethereum’s 7.2 million and more than twice the number of Bitcoin’s transactions.

It’s impressive that despite handling only an average of 30,000 daily transactions since 2015, which is less than 5% of Ethereum’s, this chain has performed quite well.

The culprit is Bitcoin Ordinals. “Or more precisely, opportunistic crypto fans eager to capitalize on the inscriptions hype,” the online publication Blockworks notes.

Bitcoin Ordinals differ from NFTs on Ethereum or Solana. NFTs are created through smart contracts and follow specific token standards enforced by various Web3 infrastructure such as wallets and marketplaces.

NFTs in the news

Americana, a crypto-native NFT trading platform that bridges digital collectibles to real-world assets, hit the market on Friday.

The online pubcalition Blockworks notes the fact that a confidential marketing deck that has been obtained by Blockworks teased a number of Americana partnerships brewing — including a deal with a prominent, undisclosed fine art auction house.

“The US crypto startup is kicking things off with what it’s categorizing as a beta phase — building off of a $6.9 million seed raise in May 2022. Its valuation was not disclosed,” according to the same online publication.

Led by CEO Jake Frey, who has worked in design roles for Apple and Twitter, Americana is now in the process of rustling up additional capital. It’s already received NFT marketplace OpenSea backing.

“We’re raising new capital now,” Frey said in an interview with Blockworks on Thursday. He continued and stated the following:

“We’re also a business that’s going to make money on day one, so that’s a luxury.”