“Network Congestion Issues and Innovations in the Cryptocurrency Market: What You Need to Know?”


The Surge in Cryptocurrency Trading and Network Overload Issues on the Base Platform

In recent months, the growing popularity of cryptocurrency trading has led to network overload and service issues on the cryptocurrency platform Base. This phenomenon is particularly evident with the new platform Coinbase, Base, which has been impacted by the so-called “Base season.” During this period, influencers vigorously promote various “meme coins,” resulting in a heavy strain on the system.

Network Overload Issues Affecting Other Platforms as Well

It is worth noting that not only Base is experiencing difficulties related to network overload. Similar problems have also affected other cryptocurrencies, such as Solana. This situation has caused dissatisfaction among users who are facing challenges in executing transactions and accessing their funds.

Solutions and Call to Users

The company responsible for the Base platform assures that the network overload issues are temporary and is working on resolving them. At the same time, they encourage users to cancel and resend their transactions to minimize the risk of fund loss or delays.

Recent Developments in the Cryptocurrency Market

It is also important to take note of recent developments in the cryptocurrency market. For example, Coinbase introduced Prime Sweeper – an application automating the transfer of digital assets between trading balances and trezor wallets, which can facilitate users in managing their assets more quickly and efficiently.

Development of the African Blockchain Payment Network

On the horizon, there is the African blockchain payment network Zone, which recently raised an impressive $8.5 million for its expansion. Investors involved in this project include Flourish Ventures and TLcom Capital. Founded in 2022, Zone is the first regulated blockchain payment network in Africa, which could be a significant step in the development of the financial sector on the continent.

Innovations and New Products in the Market

During FinovateEurope, two interesting companies presented their demos. FRNZX offers a tool to assist in Anti-Money Laundering (AML) compliance during cryptocurrency transactions, which can contribute to transaction security. On the other hand, Tradelite Solutions showcased an educational finance game based on blockchain technology, offering an engaging way to combine technology with educational content.

Figure Technologies in the Cryptocurrency Industry

Figure Technologies is launching Figure Markets, a platform enabling cryptocurrency trading, alternative investments, and stocks. Furthermore, the platform also offers security solutions based on Multi-Party Computation (MPC) technology, which may attract the attention of investors seeking new, innovative solutions.

Figure Markets, in turn, secured over $60 million in Series A funding, with the involvement of investors such as Jump Crypto, Pantera Capital, and Lightspeed Faction. This is another sign of the growing interest among investors in the cryptocurrency and techfin sector worldwide.