Solana Based Liquidity Layer Project Skyrockets Over 63% This Week with Exciting New DApps in the Ecosystem
In the past seven days, a remarkable surge of over 63% has taken place for HXRO, the liquidity layer project built on Solana (SOL). This growth can be attributed to the continuous expansion of its ecosystem with the addition of new decentralized applications (DApps).
As of the time of writing, HXRO (HXRO) is trading around $0.195, which represents a significant increase from its value of approximately $0.119 just one week ago.
Despite this impressive progress, the 243rd-ranked cryptocurrency in terms of market capitalization experienced a minor dip of nearly 5% over the past 24 hours.
HXRO primarily operates as an on-chain liquidity layer for derivatives and betting applications. Recently, the project made an exciting announcement regarding PepperDEX, a decentralized exchange platform. PepperDEX is set to be powered by HXRO’s protocol, offering on-chain perpetuals and expiring futures trading capabilities.
Daniel Gunsberg, co-founder and chief executive of HXRO, took to Twitter to share another major milestone achieved by one of their DApps. According to him, the DApp called “UpDown” is all set to go live on a prominent iGaming operator’s website. This marks a groundbreaking moment, as major online casino operators are now embracing true web3 applications and integrating them as part of their content.
It’s important to highlight that the UpDown DApp is fully powered by HXRO’s parimutuel protocol. This breakthrough development hints at the prospect of witnessing more web3 applications making their appearance on favorite casino sites in the near future, all seamlessly powered by HXRO.
Although HXRO has seen considerable gains this week, it’s worth noting that the asset is still more than 75% down from its all-time high of over $0.80, a record it achieved back in June 2021.
The surge in value and the integration of HXRO’s protocol into new DApps demonstrate the project’s potential to revolutionize the decentralized finance (DeFi) landscape and enhance the functionality of the Solana ecosystem. As the platform continues to evolve and introduce innovative features, it is likely to capture the attention of more investors and users seeking cutting-edge DeFi solutions on the Solana blockchain.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.