Just as the world has started to recover from COVID19 and other pandemics, we’ve seen the global economic environment become one of increasing fear and anxiety. Inflation is running rampant, supply chains are stuck and there is the ongoing conflict in Ukraine. As a result of this, governments and institutions increasingly appear weak and vulnerable. People are losing trust in them and need a source of hope.
In this environment, the Radix Network is seeing growth.
After the capitulation of prominent VC firms, and once respected DeFi protocols, and the multiple hacks and exploits this year for a total $2.32 billion, trust and excitement in the crypto market is fading. The Ronin Network was swindled out of over $620 million in ETH and USDC, and Wormhole Bridge had over $320 million in wrapped ETH siphoned out of the Wormhole protocol. In addition to this, skeptics and regulators seem to have the upper hand, the crypto market is horrible right now. In this environment Radix Network has walked the fine line of staying true to the principles of Web3 while also readying to be interoperable with TradFi.
The Radix Network is still seeing growth.
In fact, the Radix Network has seen a 7x growth in transaction volume, 52% increase in wallets with over 2k XRD and a growth in total wallets on the network from 11.6k to 81.3k since the start of the year. The Radix community and ecosystem have seen strong growth throughout 2022. All of this in a bear market.
Interest in the Radix Network continues to grow.
Through 2022 there has been an increasing surge of momentum and excitement for Radix Network within the crypto industry. Native XRD has been listed on three additional exchanges such as Bitmart, WhiteBit and Lbank. The market is recognizing the potential of Radix and exchanges are meeting the growing demand.
Multiple Exchanges are coming soon.
So what’s next? The Babylon Alphanet is now live. This brings together Radix Engine V2 with Radix consensus, as well as showing revolutionary features such as the Babylon transaction model. It explicitly demonstrates that the Radix Full Stack for DeFi is making strong progress towards bringing DeFi to the mass market. Radix is growing on the road to Babylon.
The Radix Network is continuing to evolve and develop.
Come and see what we have planned at RadFi, Dec 8 2022.