CKB booked a 35%+ gain after the release of its Godwoken L1 solution and the launch of a new NFT marketplace.
Positive price movement during bear markets are notoriously hard to come by due to the non-stop FUD of media and lackadaisical interest from crypto investors.
One crypto that managed to flash green on June 12 is Nervos Network (CKB), an open blockchain protocol designed for universally accessible decentralized applications (dApps).
CKB/USDT 4-hour chart. Source: TradingView
Three reasons for the positive gains for Nervos Network include the launch of the network’s layer-two (L2) solution Godwoken, the integration of the Celer c-bridge within the Godwoken protocol and the launch of a new nonfungible token (NFT) marketplace on the Nervos mainnet.
Nervos launches a layer-2 solution
The recent price rally for CKB was ignited on June 29 when the protocol announced that its L2 solution “Godwoken” had officially launched on the Nervos Network mainnet.
According to the announcement, Godwoken is an Ethereum (ETH) Virtual Machine (EVM) compatible Optimistic rollup that allows projects building across the various sectors of the market to easily create and port their dApps to the Nervos Network.
The addition of EVM compatibility also makes it possible for any project launched on Godwoken to be instantly interoperable with other EVM chains, which can help increase their reach and grow their user-base.
Celer cBridge integrates with Godwoken
Prior to the spike in CKB price, the developers announced that Godwoken had been integrated with the Celer cBridge to enable the bridging of certain assets between Nervos and the Ethereum network.
Excited to announce that we’ve completed integrations and now support bridging on @NervosNetwork‘s #Godwoken! ??You are now able to bridge $USDT, $USDC, $ETH, $WBTC, and $DAI between @ethereum and #Godwoken in a fast, secure, and low-cost fashion!https://t.co/swiAJ2WZLa
The main selling point for the use of Godwoken is that it “enables developers to employ Ethereum contracts while keeping transactions scalable, fast and low-cost.”
Nervos launches a new NFT marketplace
Anothe development that has brought added attention to the Nervos Network was the launch of the Oblivion NFT marketplace on the protocol’s mainnet.
Note: there are a few “test” NFTs. No need to purchase these, they offer no utility, and were simply created to demonstrate/test functionality.
Despite a collapse in the prices of NFTs, nonfungible tokens remain a popular buzzword and there is still a lot interest in increasing the adoption of blockchain and NFT technology by traditional business and finance.
In addition to the launch of its first NFT marketplace, Nervos and its L2 solution Godwoken have also welcomed several new decentralized finance platforms including YokaiSwap, which deployed on Godwoken v1, and a cross-chain protocol called JioSwap.
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