There Are Hot Developments In These 2 Altcoin Projects: Prices Are Flying!

Altcoin: 2 altcoin projects from the decentralized storage and play-to-play (P2E) sectors have suddenly taken off today. Let’s take a closer look at the news that accelerated the prices.

These 2 altcoins rose in double digits after signing with giant brands

It is not often that announcements of new NFT projects affect coin/token prices. In this regard, Storj, an ETH token ranked 88th in trading volume, skyrocketed right after such an announcement. STORJ has seen a huge boost thanks to Thursday’s NFT update. On that date, it went up to $ 0.97 with a 42.6% price increase. Interestingly, it continues the momentum today. At the time of writing, it’s been green for over 30% compared to the last 24 hours.

STORJUSDT 2022 06 24 18 00 21

Storj’s new NFT clients: Europa Labs, Ultimate Division, AMUZED

The spike is driven by the announcement around major brands adopting Storj to store exclusive tickets, gaming, music and sports NFT assets. However, Storj’s new NFT customers are Europa Labs, Ultimate Division and AMUZED.

  • Europa Labs is a provider of Web 3.0 physically available technology for NFTs.
  • Ultimate Division is a football simulation and card collecting game.
  • Finally, AMUZED allows music lovers to experience their favorite artists through NFTs.

Axie Infinity (AXS) price exploded after this development, good news for altcoin investors

Today, Ronin Network announced that it is relaunching the Ronin bridge on June 28. He also said that he plans to repay users lost funds during the $620 million Ronin hack. Ronin’s external audit, led by blockchain security firm Certik, received full marks from the firm.

As a result of Ronin’s reboot and refund announcement, the AXS price rose more than 20% in 24 hours. This momentum started only 3 hours after the announcement. AXS price is currently trading at $16.77.

Hot Developments in 2 Altcoin Projects

Ronin Network announces restructuring and payback plans

Sky Mavis, developer of Axie Infinity and Ronin Network, promised to repay users lost funds during the $620 million Ronin bridge hack in March. The company will start the refund process shortly after the Ronin bridge reboot. Interestingly, Ronin Network announced in a tweet on June 24 that it will reopen the Ronin bridge on June 28. It also revealed that users are giving back funds lost in the hack.

Also, Ronin Network is urging all validators to update their software for a Ronin hard fork. The validators also learned about the next steps to upgrade their verification nodes. It has also issued guidelines for upgrading unverified nodes.

A Sky Mavis spokesperson said that users will be able to withdraw the Ethereums (ETH) they held in March when the bridge reopens. Also, the 56,000 ETH missing in the Axie Infinity DAO will remain unsecured.

Ronin Bridge got full marks from the inspections As we reported, at the end of May, Ronin Network and Ronin Bridge passed two internal audits conducted by Verichains Lab. To improve security, Ronin planned to undergo an external audit led by Certik, which was successfully cleared by the firm on June 21.

The redesigned Ronin Bridge will no longer allow for large fund outflows without human interaction. In addition, the company wants to increase the number of validator nodes from 9 to 100 to increase security.

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Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing site 3 months ago.