Optimistic worth motion throughout bear markets is notoriously tough to realize as a consequence of continuous media FUD and slack curiosity from crypto buyers.
One crypto that managed to blink inexperienced on June 12 is the Nervos Community (CKB), an open blockchain protocol constructed for universally accessible decentralized functions (DApps).
Information from Cointelegraph Markets Professional and TradingView exhibits that CKB is up 50% in July after rallying from a low of $0.0033 on June 30 to an intraday high of $0.005 on July 12.
CKB/USDT 4 hour chart. Supply: TradingView
Three causes for the optimistic beneficial properties for the Nervos community are the launch of the community Godwoken’s Layer 2 (L2) answer, the combination of the Celer c-Bridge into the Godwoken protocol, and the launch of a brand new market for non-fungible tokens ( NFT). the Nervos mainnet.
Nervos launches a Layer 2 answer
The latest worth rally for CKB was sparked on June 29, when the protocol introduced that its L2 answer “Godwoken” had formally launched on the Nervos Community mainnet.
Based on the announcement, Godwoken is an Ethereum (ETH) Digital Machine (EVM) suitable optimistic rollup that may permit initiatives being constructed within the completely different sectors of the market to simply construct and port their DApps to the Nervos community.
The addition of EVM compatibility additionally makes it doable for any challenge launched on Godwoken to be immediately interoperable with different EVM chains, which might help lengthen their attain and develop their consumer base.
Celer cBridge integrates with Godwoken
Earlier than the CKB worth surge, the builders introduced that Godwoken has been built-in with the Celer cBridge to allow bridging of sure belongings between Nervos and the Ethereum community.
We’re excited to announce that we have accomplished the integrations and now assist bridging on @NervosNetwork’s #Godwoken!
⛓️⛓️Now you can bridge $USDT, $USDC, $ETH, $WBTC and $DAI between @ethereum and #Godwoken shortly, securely and cheaply!https://t.co/swiAJ2WZLa
— CelerNetwork (@CelerNetwork) July 12, 2022
Based on Celer’s announcement, the primary belongings accessible as a bridge between Godwoken and Ethereum are Tether (USDT), USD Coin (USDC), Ether, Wrapped Bitcoin (WBTC) and Dai (DAI).
Godwoken’s most important promoting level is that its use “allows builders to deploy Ethereum contracts whereas retaining transactions scalable, quick, and cheap.”
Associated: US Trademark and Copyright Places of work are investigating IP implications of NFTs
Nervos launches a brand new NFT market
One other growth that introduced further consideration to the Nervos community was the launch of the Oblivion Nonfungible Token (NFT) market on the protocol’s mainnet.
and we’re stay! Are you utilizing the @NervosNetwork mainnet? go to https://t.co/U5gBEd5a3Q.
Notice: There are some “take a look at” NFTs. They do not must be bought, they supply no profit and had been merely created to reveal/take a look at performance.
— Oblivion NFT Market by Lifeless Video games, Inc (@OblivionNft) July 9, 2022
Regardless of a drop within the worth of NFTs, non-fungible tokens stay a well-liked buzzword and there’s nonetheless important curiosity in encouraging the adoption of blockchain and NFT know-how by conventional enterprise and finance.
Along with launching its first NFT market, Nervos and its L2 answer Godwoken have additionally welcomed a number of new decentralized finance platforms, together with YokaiSwap deployed on Godwoken v1 and a cross-chain protocol referred to as JioSwap.
The views and opinions expressed herein are solely these of the writer and don’t essentially replicate the views of Cointelegraph.com. Each funding and trading transfer entails threat, you must do your personal analysis when making a call.