{"id":463170,"date":"2024-09-26T07:50:52","date_gmt":"2024-09-26T07:50:52","guid":{"rendered":"https:\/\/www.crypto-news-flash.com\/?p=860988"},"modified":"2024-09-26T07:50:52","modified_gmt":"2024-09-26T07:50:52","slug":"ethereums-vitalik-buterin-applauds-celos-growth-surpassing-tron-in-stablecoin-adoption","status":"publish","type":"post","link":"https:\/\/e-bitco.in\/index.php\/2024\/09\/26\/ethereums-vitalik-buterin-applauds-celos-growth-surpassing-tron-in-stablecoin-adoption\/","title":{"rendered":"Ethereum\u2019s Vitalik Buterin Applauds Celo\u2019s Growth, Surpassing Tron in Stablecoin Adoption"},"content":{"rendered":"<div><img decoding=\"async\" src=\"https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/09\/des.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<ul>\n<li><b>Celo has outpaced Tron in daily active addresses for stablecoin usage after its key applications recently announced a groundbreaking expansion across Africa.<\/b><\/li>\n<\/ul>\n<ul>\n<li><b>In July, Celo\u2019s daily transactions surpassed one million for the first time in 2024, and its number of active users reached an all-time high.<\/b><\/li>\n<\/ul>\n<hr>\n<p><span>Artemis recently disclosed that the Decentralized Finance (DeFi) protocol Celo (CELO) has marginally outpaced Tron DAO in the area of daily active addresses for stablecoin usage. Artemis highlighted that Celo\u2019s stablecoin transaction volume is \u201cpurely organic,\u201d and the transfer sizes across all \u201cbuckets\u201d are growing. This implies that the growth has nothing to do with \u201caddress spamming.\u201d&nbsp;<\/span><\/p>\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/Celo?ref_src=twsrc%5Etfw\">@Celo<\/a> recently passed <a href=\"https:\/\/twitter.com\/trondao?ref_src=twsrc%5Etfw\">@trondao<\/a> in daily active addresses for stablecoin usage.<br \/>-What\u2019s behind this meteoric rise?<br \/>-Is Africa undergoing a stablecoin breakout?<br \/>A \ud83e\uddf5 <a href=\"https:\/\/t.co\/6Xn8CF6DfO\">pic.twitter.com\/6Xn8CF6DfO<\/a>\u2014 Artemis (@artemis__xyz) <a href=\"https:\/\/twitter.com\/artemis__xyz\/status\/1835690553012588876?ref_src=twsrc%5Etfw\">September 16, 2024<\/a><\/p>\n<p><span>Similar to the daily active addresses, Celo has recorded an impressive surge in Stablecoin supply on its network over the year, from less than 50 million in February to almost 350 million presently.&nbsp;<\/span><\/p>\n<h3>MiniPay and Valora\u2019s Influence<\/h3>\n<p><span>According to Artemis, this surge in activity can largely be linked to the significant increase in popularity of major applications like MiniPay and Valora across Africa. For context, MiniPay and Valora recently expanded to three additional African countries (Kenya, Ghana, and South Africa) after its earlier launch in Nigeria. MiniPay exists as a stablecoin wallet integrated into the Opera Mini browser. This ensures that users access financial services with low data usage. Valora is also a mobile wallet designed to simplify peer-to-peer payments and be accessible to everyone. It also supports the Celo identity protocol, making it easier for users to verify their phone numbers and send them to their contacts.&nbsp;<\/span><\/p>\n<p><span>Following these efforts to promote stablecoin usage across Africa, Celo\u2019s daily transactions exceeded one million in July. Within the same period, the number of active users also reached a new high of 716,000. According to market experts, Celo\u2019s stablecoin usage growth is expected to continue as <a href=\"https:\/\/www.crypto-news-flash.com\/what-is-tether-usdt-beginner-guide-and-chronicle-of-the-controversy\/\" target=\"_blank\" rel=\"noopener\">Tether<\/a> is reported to have a pre-minted additional $200M in USDT on the Celo blockchain.&nbsp;<\/span><\/p>\n<h3>Vitalik Buterin Praises Celo<\/h3>\n<p><span>Lauding Celo\u2019s incredible numbers, Ethereum co-founder Vitalik Buterin <\/span>pointed out<span> the contribution of <a href=\"https:\/\/www.crypto-news-flash.com\/what-is-ethereum-history-and-beginners-guide\/\" target=\"_blank\" rel=\"noopener\">Ethereum<\/a> and highlighted the protocol\u2019s planned transition from Eth\u0435r\u0435um Virtu\u0430l M\u0430chin\u0435 (EVM)-comp\u0430tibl\u0435 l\u0430y\u0435r 1 (L1) blockch\u0430in to \u0430n Eth\u0435r\u0435um l\u0430y\u0435r 2 (L2) solution. This move is expected to position the network in a better avenue to improve its scalability and interoperability to compete with the likes of Base, Optimism, and <a href=\"https:\/\/www.crypto-news-flash.com\/pancakeswap-launches-first-ifo-on-arbitrum-featuring-eigenpie\/\" target=\"_blank\" rel=\"noopener\">Arbitrum<\/a>.<\/span><\/p>\n<p dir=\"ltr\" lang=\"en\">This is amazing to see. Improving worldwide access to basic payments\/finance has always been a key way that ethereum can be good for the world, and it\u2019s great to see <a href=\"https:\/\/twitter.com\/Celo?ref_src=twsrc%5Etfw\">@Celo<\/a> getting traction. See also their recent posts:<br \/>* <a href=\"https:\/\/twitter.com\/Celo?ref_src=twsrc%5Etfw\">@Celo<\/a> becoming an Ethereum L2: <a href=\"https:\/\/t.co\/08U7G7q69s\">https:\/\/t.co\/08U7G7q69s<\/a><br \/>*\u2026 <a href=\"https:\/\/t.co\/Qq7vcmZ6e3\">https:\/\/t.co\/Qq7vcmZ6e3<\/a>\u2014 vitalik.eth (@VitalikButerin) <a href=\"https:\/\/twitter.com\/VitalikButerin\/status\/1838809754002690403?ref_src=twsrc%5Etfw\">September 25, 2024<\/a><\/p>\n<p><span>In 2023, Celo\u2019s core developer, cL\u0430bs, proposed this Layer 2 transition to unlock the maximum potential of the platform. Currently, Celo uses D\u0430ngo (launched in July 2024) and Alf\u0430jor\u0435s. According to reports, the latter would execute an L2 upgr\u0430d\u0435 today, September 26, to enable a smooth bridge between Celo and Ethereum.&nbsp;<\/span><\/p>\n<p><span>Following this update, Celo has made a strong move up the price curve with a <span>7%<\/span> surge in the last 24 hours and a <span>39%<\/span> surge in the last seven days. At press time, the asset was trading at $0.65 and had a trading volume of $224 million. On top of that, its fully diluted market cap was around $653 million with its market dominance currently around 0.02%.&nbsp;<\/span><\/p>\n<hr>\n<h6>Recommended for you:<\/h6>\n<div class=\"tve-leads-shortcode tve-leads-triggered tve-tl-anim tl-anim-instant tve-leads-track-shortcode_228374\">\n<div class=\"tl-style\" id=\"tve_tcb2_set-001\" data-state=\"50\" data-form-state>\n<div class=\"tve-leads-conversion-object\" data-tl-type=\"shortcode_228374\">\n<div class=\"tve_flt\">\n<div id=\"tve_editor\" class=\"tve_shortcode_editor\">\n<div class=\"thrv-leads-form-box tve_no_drag tve_no_icons thrv_wrapper tve_editor_main_content thrv-leads-in-content tve_empty_dropzone\" data-css=\"tve-u-185a09262cb\">\n<div class=\"thrv_wrapper thrv_text_element\">\n<p data-css=\"tve-u-185a09262d4\"><span data-css=\"tve-u-185a09262d5\">&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; No spam, no lies, only insights. You can unsubscribe at any time.<\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><a href=\"https:\/\/www.crypto-news-flash.com\/\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Celo has outpaced Tron in daily active addresses for stablecoin usage after its key applications recently announced a groundbreaking expansion across Africa. In July, Celo\u2019s daily transactions surpassed one million for the first time in 2024, and its number of active users reached an all-time high. Artemis recently disclosed that the Decentralized Finance (DeFi) protocol [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":463171,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8,10],"tags":[6485,21602,8646,960,53,25,515,99,283],"class_list":{"0":"post-463170","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-ethereum","8":"category-other","9":"tag-arbitrum","10":"tag-artemis","11":"tag-base","12":"tag-celo","13":"tag-ethereum","14":"tag-news","15":"tag-tether","16":"tag-tron","17":"tag-vitalik-buterin"},"_links":{"self":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/463170","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/comments?post=463170"}],"version-history":[{"count":0,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/posts\/463170\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media\/463171"}],"wp:attachment":[{"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/media?parent=463170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/categories?post=463170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/e-bitco.in\/index.php\/wp-json\/wp\/v2\/tags?post=463170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}