The post Projects Like Octoblock Could Bring Users Back To BNB Smart Chain From NEAR Protocol appeared first on Coinpedia Fintech News
Market observers suggest that as users look for the best crypto to buy now, innovative projects like Octoblock (OCTO) could bring them back to the BNB Smart Chain from NEAR protocol.
NEAR protocol price
The Near protocol price retest of the $2.76 level in January confirmed its bullish move towards the $6.08 resistance. Analysts believe that if historical patterns hold true, breaking above $6.08 could propel the NEAR price upwards by 50% to surpass the $10.24 resistance level. The Relative Strength Index (RSI) indicates strong bullish momentum, supported by increasing volumes in the Awesome Oscillator (AO) histograms. A successful retest and breach of the $10.24 barrier could lead bulls to target $15.00 as the next significant level.
BNB Smart Chain upgrade
Binance recently announced its support for the upcoming network upgrades and hard forks of the BNB Beacon and BNB Smart Chain, highlighting its dedication to improving chain functionality and stability. The BNB Smart Chain (BEP20) network upgrade and hard fork are scheduled for April 18, 2024. During this time, deposits and withdrawals for tokens on the BEP20 chain will be temporarily suspended from around 05:40 (UTC). It’s essential to note that token trading will not be impacted by these upgrades and hard forks. Binance will manage all technical requirements on behalf of its users, and once the upgraded networks are stable, deposits and withdrawals for tokens will resume.
Octoblock: Unleashing DeFi innovation on the BNB Smart Chain
Octoblock has emerged as a standout protocol within the BNB Smart Chain, offering a multifaceted ecosystem that promises to deliver a profitable, engaging, and socially impactful decentralized finance (DeFi) experience for all its users.
To make its vision a reality, Octoblock will introduce a number of initiatives, starting with the Nautilus Trove. This revenue-generating system will aggregate the asset inflows and allocate them to DeFi strategies and diversified ventures like stocks and yield-bearing assets. The dual-strategy approach is meant to ensure both steady income streams and growth potential for the ecosystem.
OCTO holders will share 45% of the profits made from the Trove based on the percentage of token supply they hold. Octoblock’s Saltwater Sweepstake will distribute an additional 5% to randomly selected addresses in the OCTO community, with higher token-holding addresses having greater chances of winning. The Tentacle Trust, Octoblock’s charitable account will also receive a share of the profits made, which will be used to help organizations involved in the protection and restoration of marine ecosystems. OCTO holders will participate in this charitable initiative by voting monthly to choose the recipient of the donations.
Moreover, Octoblock will enable DeFi users to collaboratively maximize their yields through its Crowd Funded Yield Farming (cFyF) technology. cFyF participants will contribute funds to communal yield pools, allowing them to collectively participate in yield farming activities. The combined capital will enable the yield pools to access yield farming opportunities with significantly higher rates, resulting in participants getting better returns than they individually would.
Octoblock’s upcoming cross-chain platform, Coral Cove, will revolutionize the way digital assets are managed across blockchain networks by integrating both swapping and bridging capabilities. The platform will also maintain high security standards, low transaction costs, and efficiency through optimization of transaction routes.
The Octoblock Initial Coin Offering (ICO) has gained favor among investors, with a number discussing its potential on platforms like YouTube. The ICO, which is currently in the 3rd of 14 phases, offers investors a chance to get discounted prices, token bonuses, staking rewards, and an opportunity to win a 2024 full-option Tesla Model 3.
Conclusion
With innovative projects like Octoblock (OCTO) on the horizon, the BNB Smart Chain has the potential to attract more users and reclaim the spotlight from NEAR protocol.
For more information on Octoblock:
Website: https://octoblock.io/
Buy OCTO: https://reef.octoblock.io/register
