Cube: The Silver Lining Amid a Grim Crypto Bear Market

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Blockchain industry players have not had happy times lately due to the recent market upheavals. Not only has the crypto asset market been on a continuous downward trend since the end of 2021, but a major wake-up call came this week, when BTC spot price tested its 200-day moving average of around US$22,500, a big difference from an all-time high of US$69,000.

The Luna-Terra crash in May added to negative market sentiment, which saw the spot price of Luna, once considered a top performing token, fall from over $100 to near zero in a matter of days.

A bear market, however, is not necessarily disastrous for the blockchain industry. It also doesn’t signal complete negativity when it comes to the crypto market; after all, the market has seen both ups and downs since BTC emerged in 2008.

Additionally, the explosive growth of NFTs, DeFi, and other blockchain applications has greatly contributed to the development of blockchain technology, and these developments bode well for an Internet future marked by Web3 and the metaverse.

The growing demand for blockchain applications has led to the emergence of many public chains in the blockchain industry. The current bearish sentiment has also spurred user demand for resilient public channels capable of providing superior service at affordable rates.

The advent of Cube, a public chain that provides an innovative infrastructure and ecosystem for Web 3 and the metaverse, has undoubtedly proven to be a silver lining amid the current bearish sentiments. Not only has the price of the Cube (CUBE) token increased from 0.3 USDT on launch day to 15 USDT, a 50x increase, in just seven days, testnet addresses have also surpassed 1,500,000 and while the number of on-chain transactions has exceeded 200,000 since its launch.

Cube, a new modular, permissionless, EVM-enabled public chain with a multi-chain and layered architecture design, offers breakthrough technologies such as proprietary collaborative rollups, chaos consensus, nonlinear infinite storage, and a innovative time-crossing protocol for Web3 – targeted infrastructure.

The overwhelming demand for blockchain applications such as NFTs and DeFi has increased the loads on public chains, so that many proclaimed transactions-per-second (TPS) guarantees have failed to live up to their claims. The result was a frustration test for users due to a combination of longer transaction times and higher costs. For example, Ethereum takes about 10 minutes to complete a transaction during peak times, and gas fees can run into several hundred dollars.

To better meet the needs of the industry, Cube applies high-performance layer-1 blockchain as the basis to solve the challenge of blockchain expansion and provides users with an efficient, low-cost and secure trading environment.

With a cross-chain protocol that supports cross-chain DeFi calls, Cube is compatible with the Cosmos ecosystem. In its current design, Cube can process around 3000 transactions per second and the number is expected to exceed 5000 by the end of September this year, and the data availability requirements of Rollup and NFT guarantee an efficient and reliable complete solution for development. of web 3.

According to the Cube team, Cube has been committed to the green construction of Web3 and has used a variety of measures to strengthen the ecology on the chain. At present, it has docked over 100 blockchain projects and signed over 250 partnership agreements.

Cube will also take steps to enrich its community – a recruitment program for Cube Network Ambassadors will soon be launched to stimulate passion for blockchain and allow developers and users around the world to collaborate and continue to rely on an already dynamic landscape.

About Cube

Cube is a high-performance, scalable, and modular Layer 1 public chain capable of supporting multi-chain and cross-chain architecture. Compatible with EVM and Cosmos ecosystems, Cube is actively committed to participating in the development of decentralized cross-chain protocols and Web 3.0 infrastructure to bring users the next-generation multi-chain experience.

Contact Cube

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