Velas Continues to Build a Robust Ecosystem to Rival Major Blockchains

Time Stamp: February 16, 2022 1:32 PM
Source Node: 1176857

  • Velas continues to expand its ecosystem to outperform other blockchains.
  • DeFiLlama reports that Velas is the top-1 blockchain by TVL gain in the last 7 days.
  • VLX trades at a decent price of $0.28 and up 4.7% in the last 24 hours.

The Velas project has been dedicated to becoming the world’s fastest EVM blockchain and ecosystem for smart contracts. This has given rise to the team upgrading and expanding their services and partnering with some of the industry’s key players.

With its mainnet launched in 2019, Velas combines both Proof-of-Stake and Proof-of-History. The Velas blockchain utilizes an upgraded version of the Solana blockchain’s open-source code. 

Velas also provides a scalable solution for Dapps with up to 75,000 TPS compared to Ethereum’s 15 TPS. With this, Velas affirms that it has the fastest EVM Chain to compete with Ethereum 2.0. Hence, it supports all smart contracts built on the Ethereum blockchain.

In other news, the blockchain network recently announced on its Twitter page that the Velas community can now buy VLX faster and easier as a new button has been added to their website.

Besides this, Velas has also added a new feature allowing customers to use VISA/Mastercard credit and debit cards to buy VLX tokens. Additionally, it augmented its Velas wallet software to add support for EUR and USD fiat currencies.

At press time, VLX trades at a decent price of $0.28 and up 4.7% in the last 24 hours according to CoinGecko. In addition, it has accumulated more than $637 million in Market capitalization and a 24-hour trading volume of over $3.4 million.

Source: CoinGecko

In the last seven days, VLX price has been bouncing between $0.28 to $0.32 from the chart above. Although the crypto market is generally experiencing a downtrend, many VLX investors still expect a bull run in the coming days.

The coming days may result in an uptrend or downtrend, depending on the direction the market takes. However, the data from DeFiLlama shows that Velas is the top one blockchain by TVL gain in the last 7 days and this may result in a positive position in the future.

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