Venom Blockchain Enters Abu Dhabi, Fueling Optimism For Web3 Ecosystem Expansion
Summary
Abu Dhabi has launched the Venom Blockchain for Web3 applications, capable of processing 100,000 transactions per second with low fees. The platform has a market capitalization of $5.2 billion, a trading volume of over $200 million, and a user base of over one million within 24 hours. Over 20 projects are ready to launch on the blockchain, and it has initiated pilot programs for stablecoin projects in various countries. Abu Dhabi is emerging as a center for fintech innovation, challenging the view that innovation is exclusive to established tech hubs. The native token, VENOM, is currently trading at $0.6788, with a surge of over 27% in the past 24 hours.
