Cryptocurrency
Axelar Adds Interoperability to Rollkit, Delivering Interconnectivity for Thousands of Blockchains Built With Celestia Underneath
![](https://letizo.com/wp-content/uploads/2024/05/axelar-adds-interoperability-to-rollkit-deliveringinterconnectivity-for-thousands-of-blockchains-built-with-celestiaunderneath_664cf5a70b16c.jpeg)
[PRESS RELEASE – New York, USA, May 21st, 2024]
Axelar Interchain Amplifier’s Integration With Rollkit Streamlines the Creation of Interoperable Rollups, Making it as Simple as Developing any Smart Contract
The Axelar Foundation today announced an integration with Celestia Labs that will make multichain interoperability easy for sovereign blockchains built with Celestia’s Rollkit, the first sovereign rollup framework. This integration will advance the modular thesis, simplifying multichain development for thousands of new blockchains.
Celestia is the first modular blockchain network, envisioning a future with 1 million rollups. Scaling Web3 to this level with great user experience requires smart-contract capability at the cross-chain layer. Integration of Rollkit and Axelar Interchain Amplifier puts this capability into builders’ hands by introducing new interoperability toolkits that easily connect any new rollup across EVM, Cosmos, Bitcoin, Polkadot and beyond, via Axelar’s growing network of connected chains.
Making rollups interoperable across the wider web3 ecosystem
“Opportunities are emerging rapidly in new ecosystems – we’re not far from a future where one in four transactions will be cross-chain,” said Axelar Foundation co-founder and director Georgios Vlachos. “Celestia has laid out the modular vision for accelerating this path to scaling Web3. Axelar Interchain Amplifier will empower applications to make those transactions seamless for their users, no matter what blockchain they build on.”
Rollkit is the modular framework for creating rollups as sovereign chains. Serving as a community-led public good that empowers developers to forge independent communities around diverse applications, Rollkit provides the flexibility to deploy across a modular stack, facilitating rapid innovation.
Axelar network, the Web3 interoperability platform, is set to enhance Rollkit via the integration of Interchain Amplifier. Built on the Axelar Virtual Machine, Amplifier makes new-chain integrations permissionless and easy, automating routing and translation across Axelar’s expansive network, which today numbers 60+ interconnected chains.
Interop Labs, the initial developer of Axelar network, will build the necessary smart contracts and tooling to effect the integration of Interchain Amplifier as a seamless interoperability path for builders developing on Rollkit. Any mainnet upgrades to Axelar network are subject to an on-chain vote, as are future new-chain connections that may be added via Rollkit, once the integration of Amplifier into Rollkit is complete.
About Axelar network
Axelar is the Web3 interoperability platform, delivering the shortest path to scale on an open stack to connect all blockchains. Adopters include Uniswap, Microsoft and dozens of natively multichain startups, building applications to reach all blockchain users at once – 10X as many active users as the leading Web3 application environment. Axelar supports smart contracts on a cross-chain layer that is open, scalable and secure. Backers include Binance, Coinbase, Dragonfly, Galaxy and Polychain.
Users can learn more here :axelar.network.
About Axelar Foundation
Axelar Foundation is a nonprofit established to support the growth and adoption of the Axelar network, a decentralized interoperability platform that serves multiple blockchain ecosystems. Users can learn more at axelar.foundation.
About Celestia
Celestia is a modular data availability network that makes it easy for anyone to securely launch their own blockchain.
About Rollkit
Rollkit is the first sovereign rollup framework that makes deploying any VM or application as its own sovereign chain as easy as rollkit start, reducing the time to launch a sovereign chain from what used to be months to seconds.
About Interop Labs
Interop Labs is a leading developer of blockchain interoperability technology, used by Web3 infrastructure protocols to support scaling the next generation of internet applications to billions of users. Interop Labs is the initial developer of Axelar network. Users can learn more at interoplabs.io.
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Cryptocurrency
Top 10 Solana (SOL) Ecosystem Projects by Development Activity
![](https://letizo.com/wp-content/uploads/2024/09/top-10-solana-sol-ecosystem-projects-by-developmentactivity_66dc47b18afea.jpeg)
TL;DR
- Due to recent growth, Solana and its projects have gained popularity.
- Ecosystem meme coins like Dogewifhat (WIF) and Bonk Inu (BONK) have seen significant declines after a substantial surge earlier this year.
The Unsurprising Leader
Solana and numerous projects built on it have brimming in popularity in 2024. Some factors that could have contributed to this might be SOL’s bull run at the end of 2023 and the beginning of 2024, the growing community, and innovations in the ecosystem.
The crypto analytics platform Santiment recently outlined the top 10 Solana-based projects in terms of development activity in the past 30 days.
Somewhat expected, the first spot belongs to Solana itself, which collected a score of 186.33. It is worth noting that the protocol’s native token – SOL – has been experiencing a downfall since the end of July, plunging by approximately 30% and currently trading at around $127 (per Coingecko’s data).
Wormhole holds the second position with a ratio of 90.5. It acts as a bridge connecting various blockchain networks, such as Solana, Ethereum, BNB Smart Chain, and others. It enables users to transfer digital assets and data across these blockchains without a centralized intermediary.
Pyth Network is third, with a score of 68. It operates as a decentralized oracle network where multiple providers contribute to a collective data feed.
JITO and Neon round up the top 5 list. The other Solana-based projects down the line include Drift, Orca, Helium IOT, Helium Mobile, and Metaplex.
The Missing Ones
It is interesting to note that meme coins, which are part of Solana’s ecosystem, did not make the list. Such tokens, including dogwifhat (WIF), Bonk Inu (BONK), and many more, were among the top-trending topics in the crypto space at the start of the year due to their skyrocketing prices.
However, their progress has stalled as of late. WIF – the biggest Solana-based meme coin in terms of market capitalization – currently trades at around $1.52, representing more than a 70% decline from the ATH registered in April.
BONK (the second-largest) is worth approximately $0.00001666 as of the moment, or 60% less than the peak in May.
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Cryptocurrency
These Altcoins Bleed Out as Bitcoin (BTC) Price Fell by $4K in Hours (Weekend Watch)
![](https://letizo.com/wp-content/uploads/2024/09/these-altcoins-bleed-out-as-bitcoin-btc-price-fell-by-4kin-hours-weekend-watch_66dc47b73b311.jpeg)
Bitcoin’s nosedives continued in the past 24 hours as the asset slumped from an intraday high of $57,000 to under $53,000 within hours.
The altcoins are also in the red, and the total crypto market cap has dumped to $2 trillion for the first time in over a month.
BTC’s Troubles Keep Coming
The primary cryptocurrency lost the coveted $60,000 level last week, and the true downfall followed suit. Aside from a brief attempt to overcome that line on September 3, the bears have been predominantly in control, which culminated yesterday.
Before that, it was rejected a couple of times and marked lower daily highs. A relief rally came on Friday when the US released the job report for August, which showed that there was a slight decline in the unemployment rates.
BTC reacted quickly with a price increase from $55,500 to $57,000. However, that turned out to be a false breakout, and the cryptocurrency headed south immediately after. In a matter of minutes, it plummeted to $54,000 before the bears initiated another leg down that pushed it to a monthly low of $52,700 (on Bitstamp).
Despite recovering to just over $54,000 now, it is still 4% down on the day and more than 8% in the past seven days. Its market cap has plunged to $1.070 trillion, while its dominance over the alts is down to 53.5%.
Alts in Red Yet Again
The bearish scenario repeated once again, and the altcoins are back in red. Ethereum is among the leaders in this adverse trend, having lost over 4% of value. As a result, it now struggles at $2,250. BNB is down by 3%, XRP by 3%, and SOL by 2.5%.
DOGE has dumped the most from the larger-cap alts. The OG meme coin has seen 5% of its value evaporate over the past day and is below $0.1.
Further losses come from the likes of TON, BCH, SHIB, LTC, OKB, XMR, and many others.
The total crypto market cap has declined by another $50 billion and is down to $2 trillion on CG.
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Cryptocurrency
Vitalik Buterin Pledges L2 Tokens to Support Public Goods in the Ethereum Ecosystem
![](https://letizo.com/wp-content/uploads/2024/09/vitalik-buterin-pledges-l2-tokens-to-support-public-goods-inthe-ethereum-ecosystem_66dc47bce1201.jpeg)
Ethereum co-founder Vitalik Buterin has pledged to donate all Layer 2 (L2) tokens he holds to support public goods within the Ethereum ecosystem or broader charitable causes.
This announcement comes a few days after accusations that he had sold millions in Ether (ETH) for personal gain.
Vitalik Buterin Denies Profit Motive
Buterin was quick to respond to the allegations, emphasizing that he has not sold any ETH for personal profit since 2018. Instead, he clarified that any proceeds from his ETH sales have been directed toward projects that contribute to the Ethereum ecosystem or other charitable initiatives.
In a September 5 update, he expanded on his stance, pledging to donate all L2 tokens he holds, including not-yet-liquid assets, to support similar causes.
He wrote, “All proceeds will be donated, again either to support public goods within the Ethereum ecosystem or broader charity (e.g., biomedical R&D). I also do not intend to invest into L2s or other token projects in the foreseeable future.”
He explained that his aim in funding projects is to support initiatives he believes are important, particularly in situations where other parts of the ecosystem may not fully recognize their value.
The Allegations
On August 30, an X user accused him of selling over $2 million worth of ETH shortly after posting a positive update about Ethereum’s future.
Later on, Lookonchain also revealed that Vitalik had transferred 800 ETH, worth around $2 million, to a multi-signature wallet. Shortly after, the wallet swapped 190 ETH for 477,000 USDC.
Further analysis from Lookonchain indicated that on August 9, he had moved an additional 3,000 ETH, valued at over $8 million, to the same multi-sig wallet.
These transfers fueled speculation that the Ethereum co-founder was liquidating his Ether holdings to realize profits.
Buterin had previously disclosed that his entire Ether holdings came from the Ethereum pre-mining period, which allocated 11.9 million ETH (about 10% of the total supply) to early contributors. As one of them, he received 700,000 ETH for his role in the network’s creation.
According to blockchain tracker Arkham Intelligence, his current holdings amount to approximately 240,000 ETH. This is a reduction of around 460,000 ETH from his initial stash.
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