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Just a couple of days later, $33 million worth of crypto assets flowed to AAVE on Sonic. The Sonic Mainnet is an Ethereum-compatible layer-one blockchain that offers faster transaction execution speeds and lower fees.
Chainlink (LINK) Rises 15% After OpenUSDT Launch
LINK is up 15% in the past 24 hours as well and trading volumes are up by 29% after the protocol announced the launch of a new stablecoin called OpenUSDT created for the OP Superchain ecosystem.
OpenUSDT is currently available on 7 different blockchains. It gives investors and decentralized finance (DeFi) protocols expanded access to Tether’s stablecoin (USDT) while offering lower transaction costs.
Increased adoption of Chainlink’s blockchain interoperability solution CCIP drives demand for LINK. Hence, the launch of OpenUSDT will likely attract higher trading volumes for this asset.
“With sub-cent transaction fees, stablecoin gas payments, seamless on- and off-ramps, and as the only Layer-2 with native USDT following Celo’s migration next month, serving as the backbone for OpenUSDT is a way for us to realize this vision,” commented the co-founder of Celo – the layer-two Ethereum blockchain that will be responsible for locking USDT to mint OpenUSDT and maintain a 1:1 ratio between the two assets.
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