How are the cryptocurrencies Smoke, Osmosis (OSMO), and Axelar (AXL) performing within the crypto market? Let’s see below the latest details on prices and more.
Smoke: latest news on the crypto in comparison with Osmosis and Axelar
Smoke (SMOKE) is a cryptocurrency project that is committed to promoting open-source communication. The current circulating supply of the token is approximately 20,416,498.35.
As for the total supply, it amounts to 42,999,479.339 Smoke tokens. The current price of the crypto is approximately $0.04444727 USD, with a 0.00% change in the last 24 hours, according to the data.
We remind you that the Smoke project aims to facilitate open-source communication, focusing on the introduction and exploration of the Echo protocol in mobile technologies.
The main focus of the project is on preserving user contacts through aliases. For more details, you can visit the official Smoke website.
Osmosis: key updates on exchange and market performance
The trading pair OSMO/USDT has recently recorded a significant trading volume of $4,198,507 on the crypto exchange Binance.
More generally, the total volume of Osmosis (OSMO) trades in the last 24 hours reached $34,305,459, marking a significant increase of 54.70% and indicating a recent rise in market activity.
Currently, the market capitalization of Osmosis (OSMO) stands at approximately $1,001,865,144, ranking 67th on CoinGecko.
In addition, with a decrease in prices of -3.60% in the last 7 days, Osmosis shows an inferior performance compared to the global market of cryptocurrencies, which is increasing by 0.30%.
Finally, the cryptocurrency underperforms compared to its counterparts in the decentralized finance sector (DeFi), which are growing by 2.40%.
Among the news that involve it, we see that recently a revolutionary proposal has emerged within the Osmosis community, aiming to establish a powerful collaboration with Terraform Labs (TFL).
This proposal involves the combination of 1 million dollars of LUNA from TFL and 575,000 dollars of OSMO from the Osmosis Community Pool.
The creation of a vast liquidity pool for the $LUNA/$OSMO pair on Osmosis Zone aims to enhance collaboration between Terra and Cosmos.
The proposal in question involves the allocation of 1 million dollars of LUNA by Terraform Labs to the Osmosis Community Pool, creating a strategic partnership aimed at positioning Osmosis as a fundamental link between Terra and Cosmos.
It is expected that the increase in transactions on Osmosis will contribute to increasing the fees for OSMO stakers.
The strategic alliances of Axelar (AXL)
The most active trading pair AXL/USDT has recently recorded a significant trading volume of approximately $43,418.02 in the last 24 hours.
In the same period, the trading volume of Axelar (AXL) reached $3,416,249, marking an increase of 14.40% compared to the previous weeks.
However, with a slight decline of -0.30% in the recent 7 days, Axelar shows a lower performance compared to the overall cryptocurrency market, which is growing by 0.40%. Furthermore, the cryptocurrency underperforms compared to its counterparts within the Polygon ecosystem.
A strategic move by Lido, the governing body of the largest DeFi protocol, is evident with the recent shift of its alliance to Axelar and Wormhole for the development of cryptographic bridges.
This change underlines the importance of cross-chain interoperability in the blockchain space and indicates increased competition in the industry.
“It’s more about principles than technology,” says Robinson Burkey of the Wormhole Foundation, emphasizing the community-driven ethics in blockchain governance.
In a dynamic landscape of blockchain interoperability, Lido DAO’s support for Axelar and Wormhole on LayerZero represents a crucial moment in DeFi collaborations and decentralized governance.
Last October, LayerZero launched a bridge for Lido’s stETH without explicit consent from the DAO, sparking a debate on the ethics of “unauthorized” development in the blockchain.
This decision has led to a significant change in alliances, favoring the collaborative proposal of Axelar and Wormhole for better cross-chain functionality.
The event highlights the delicate balance between innovation and community consensus in the decentralized world.