Daily Top Mover — Radiant Capital (RDNT)
Stocks declined for the second day as treasury yields climbed. Meanwhile, the broader cryptocurrency market is mixed, with Bitcoin down by 4.69% and 5.64%, respectively in the past 24 hours as of the time of writing. The top mover for today, RDNT, registered a 24-hour decrease of 22% but a 30-day return of 279%, outperforming the broader market due to surging TVL.
The outperformance comes as Radiant’s TVL soars. RDNT is the native token of Radiant Capital, a cross-chain money market omnichain, where users can deposit major assets on any major chain and borrow a variety of supported assets across multiple chains. However, borrowed and lent money are limited to a specific chain, and liquidity is fragmented on most DeFi lending protocols. Radiant strives to address the pain points by leveraging omnichain ability from LayerZero and built its main protocol on Arbitrum, the popular Ethereum Layer 2 solution.
Check Out the Latest Prices, Charts, and Data for ,RDNT/USDT,!
Talk of the Town
The trademark battle between Hermès and MetaBirkin has come to an end. MetaBirkin is an NFT collection that looks like the famous Birkin bags from the fashion house Hermès. Hermès International filed a trademark lawsuit against Rothschild, the MetaBirkin artist in early 2022. The trial recently concluded with Hermès winning the lawsuit. MetaBirkin generated over $1 million in sales upon its release before the collection was delisted by major NFT marketplaces. Nonetheless, Rothschild said the created NFT collection was inspired by the acceleration of fashion’s fur-free initiatives.
Check out what else is buzzing in the crypto scene today:
Deutsche Bank’s DWS in talks to invest in two crypto firms. (,Link,)
Coinbase’s CEO said he heard rumors the SEC wants to ban staking. (,Link,)
Aptos plans network upgrade, ‘more clarity’ around token distribution. (,Link,)
Aave deploys native stablecoin GHO on an Ethereum testnet. (,Link,)
Tron Blockchain commits $100M in grants to AI-focused projects. (,Link,)
MakerDAO onboarded another protocol to its Keeper Network. (,Link,)
Source: Bybit Blog