In the cryptocurrency market, developments in the network and various partnerships affect altcoin prices. All 4 altcoins that we will discuss today have increased in price as a result of the latest developments in the network.
Stellar in use in Ukraine, Polygon introduces new upgrade
First, looking at the latest developments on the Stellar Blockchain, he announced that Ukraine-based Tascombank will experiment with digital hryvnia using this network. As part of the pilot, the team will test the use of programmable payroll for government employees at Diia, an IT solutions organization, as well as electronic hryvnia for peer-to-peer and vendor payments. As a result of the development, Stellar’s XLM rose from $0.25 to $0.27.
In second place is the India-based Polygon network. Polygon has applied Ethereum’s EIP-1559 update to the Mumbai testnet following community request. Just like Ethereum, the update brings predictable base fees, a suite of tokens, among other features. It also aims to reduce network congestion. Polygon’s MATIC has risen from $1.79 to $2.03 in the last 24 hours, up 10 percent.
Popular altcoin Solana announces $150 million funding
Another network that was the subject of important news was Solana. Solana Ventures has announced a $150 million funding initiative for blockchain-based game developers on Solana. The startup is co-founded with blockchain gaming technology provider Forte and gaming-focused venture capital firm Griffin Gaming Partners. This is Solana Ventures’ second gaming-focused funding venture, following $100 million in funding launched in November with FTX and Lightspeed Venture Partners. SOL experienced an increase of 8 percent from yesterday to today.
Most recently, stablecoin issuer Circle has announced that it will launch native support for the dollar-pegged USDC stablecoin on Avalanche. After integration, users will be able to print and use USDC directly on Avalanche. AVAX rallied 15.7 percent from $78 to $91.