Why is Radix (XRD) crypto trending today?

Highlights

• Radix (XRD) crypto is a Layer-1 protocol that aims to provide a seamless decentralised finance (DeFi) services to the developers.
• On Tuesday, Radix crypto was gaining traction following the launch of its DeFi programming language SCRYPTO.
• XRD crypto is ranked 3387 on CoinMarketCap, and it is currently trading at US$0.205365 with a volume of US$671,974 over a day.

Radix (XRD) crypto is a Layer-1 protocol, which aims to provide a seamless decentralised finance (DeFi) services to the developers. The Radix protocol not only reduces the congestion faction that is quite common with DeFi services, but it also reduces smart contracts leaks. Because of this, it is able to execute various smart contracts easily through its protocol.

It’s frictionless services often provide incentives to the developers and scale up the operations without reducing its operating style. On Tuesday, Radix crypto was gaining traction following the launch of its DeFi programming language SCRYPTO. The CES event, which is being held in Las Vegas, saw many big names of the blockchain industries participating. The launch saw a heightened interest among market participants pushing the volume up by 95%. 

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What is SCRYPTO?

Radix’s SCRYPTO is primarily a programming language which is primarily used for the development of decentralised applications (DApps). The DApps runs on Radix Engine v2 execution environment and borrows the Rust technology. The Rust technology boasts of several advantages which can be utilised by the DeFi sector such as intuitive features, because of which it is able to reduce the hacks or attacks which often acts as a deterrent to the DeFi sector.

Besides, SCRYPTO provides useability security and composability, which the DeFi sector needs to fulfil the needs of ensuring a seamless functioning of the smart contract language.

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The CES event was also an opportunity for the RADIX followers to know more about the future roadmap of the protocol in the current year.

How is Radix crypto faring?

XRD crypto is ranked 3387 on CoinMarketCap, and it is currently trading at US$0.205365 with a volume of US$671,974 over a day. Radix token was unable to live up to the initial hurray and was down by 5.22% on 11 January and had a fully diluted market cap of US $4,941,695,043 with a total supply of 12,106,864,914 XRD coins.

Even though the Radix crypto hasn’t gained much of a momentum, but the experts feel that it could be one of the strong DeFi protocol solution provider. With the SCRYTPO looking to resolve the issues related to the DeFi hacks etc., it can in fact be a solution provider to many DeFi based tokens. This in turn, could also see the interest being generated in its token.

Therefore, experts predict the XRD token could see new highs in 2022, once the rally starts. Though the overall market is in a bearish phase, once the bulls are back it could be a chance for them to regain some of the lost grounds.