{"id":172160,"date":"2024-09-25T13:30:14","date_gmt":"2024-09-25T13:30:14","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=172160"},"modified":"2024-09-25T13:30:18","modified_gmt":"2024-09-25T13:30:18","slug":"vitalik-buterin-praises-celo-for-surpassing-tron-in-stablecoin-addresses-is-celo-the-new-contender","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/vitalik-buterin-praises-celo-for-surpassing-tron-in-stablecoin-addresses-is-celo-the-new-contender\/","title":{"rendered":"Vitalik Buterin Praises Celo for Surpassing Tron in Stablecoin Addresses\u2014Is Celo the New Contender?"},"content":{"rendered":"<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">TL;DR<\/span><\/p>\n<ul style=\"text-align: justify\">\n<li><strong><span data-preserver-spaces=\"true\">Vitalik Buterin\u2019s Praise<\/span><\/strong><span data-preserver-spaces=\"true\">: Ethereum co-founder Vitalik Buterin praised Celo for surpassing Tron in daily active stablecoin addresses, marking a significant milestone.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">CELO Token Surge<\/span><\/strong><span data-preserver-spaces=\"true\">: Following Buterin\u2019s endorsement, Celo\u2019s native token, CELO, surged by approximately 25%, reaching $0.68.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Upcoming Upgrade<\/span><\/strong><span data-preserver-spaces=\"true\"><span data-preserver-spaces=\"true\">: Celo is set to upgrade its Alfajores testnet to an Ethereum Layer 2 solution on September 26, aiming to enhance network capabilities and integrate more closely with Ethereum.<\/span><\/span><br \/>\n<hr \/>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">Ethereum co-founder <\/span><strong><a class=\"editor-rtfLink\" href=\"https:\/\/crypto-economy.com\/vitalik-buterin\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Vitalik Buterin<\/span><\/a><span data-preserver-spaces=\"true\"> recently took to social media to commend Celo for a significant milestone<\/span><\/strong><span data-preserver-spaces=\"true\"> in the blockchain space. On September 25, Buterin praised Celo for surpassing Tron in daily active addresses for stablecoins. <\/span><!--more--><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">This is amazing to see. Improving worldwide access to basic payments\/finance has always been a key way that ethereum can be good for the world, and it&#39;s great to see <a href=\"https:\/\/twitter.com\/Celo?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@Celo<\/a> getting traction.<\/p>\n<p>See also their recent posts:<\/p>\n<p>* <a href=\"https:\/\/twitter.com\/Celo?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@Celo<\/a> becoming an Ethereum L2: <a href=\"https:\/\/t.co\/08U7G7q69s\" target=\"_blank\">https:\/\/t.co\/08U7G7q69s<\/a><br \/>*\u2026 <a href=\"https:\/\/t.co\/Qq7vcmZ6e3\" target=\"_blank\">https:\/\/t.co\/Qq7vcmZ6e3<\/a><\/p>\n<p>&mdash; vitalik.eth (@VitalikButerin) <a href=\"https:\/\/twitter.com\/VitalikButerin\/status\/1838809754002690403?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">September 25, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">CELO,<\/span><\/strong><span data-preserver-spaces=\"true\"> the native utility token of the Celo platform,<\/span><strong><span data-preserver-spaces=\"true\"> saw a <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/coinmarketcap.com\/currencies\/celo\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">surge <\/span><\/a><span data-preserver-spaces=\"true\">of approximately 25%, reaching $0.68.<\/span><\/strong><span data-preserver-spaces=\"true\">\u00a0Following Buterin&#8217;s praise, <\/span><strong><span data-preserver-spaces=\"true\">highlighting the project\u2019s recent success in increasing daily active stablecoin addresses<\/span><\/strong><span data-preserver-spaces=\"true\">, according to data from CoinMarketCap.<\/span><\/p>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">This achievement marks a notable shift in the competitive landscape of blockchain platforms<\/span><\/strong><span data-preserver-spaces=\"true\"> focused on stablecoin transactions. In addition to celebrating Celo\u2019s milestone, Buterin highlighted the upcoming upgrade of Celo\u2019s Alfajores testnet to an Ethereum Layer 2 (L2) solution. <\/span><\/p>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">Scheduled for September 26, this transition will see Celo evolve<\/span><\/strong><span data-preserver-spaces=\"true\"> from a standalone Ethereum Virtual Machine (EVM)-compatible layer-1 blockchain <\/span><strong><span data-preserver-spaces=\"true\">to an Ethereum L2<\/span><\/strong><span data-preserver-spaces=\"true\">. This upgrade aims to enhance network capabilities and integrate more closely with Ethereum\u2019s expansive ecosystem.<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-172161\" src=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/CELO.jpg\" alt=\"Vitalik Buterin Praises Celo for Surpassing Tron in Stablecoin Addresses\u2014Is Celo the New Contender?\" width=\"825\" height=\"300\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/CELO.jpg 825w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/CELO-300x109.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/CELO-768x279.jpg 768w\" sizes=\"(max-width: 825px) 100vw, 825px\" \/><\/p>\n<h2 style=\"text-align: left\"><span data-preserver-spaces=\"true\">Benefits of the L2 Shift<\/span><\/h2>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">The shift to an L2 solution is expected to bring several benefits to the Celo network. By aligning more closely with Ethereum, Celo aims to empower its community to innovate with greater confidence and reach. <\/span><\/p>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">The transition will also facilitate better bridging between Celo and <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/crypto-economy.com\/what-is-ethereum\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Ethereum<\/span><\/a><\/strong><span data-preserver-spaces=\"true\">, enabling functionalities that were previously <\/span><span data-preserver-spaces=\"true\">not<\/span> <span data-preserver-spaces=\"true\">possible<\/span><span data-preserver-spaces=\"true\">.<\/span><span data-preserver-spaces=\"true\"> This move is part of a broader strategy proposed by core Celo developer cLabs in July 2023, which includes operating two L2 testnets, Dango and Alfajores.<\/span><\/p>\n<h2 style=\"text-align: left\"><span data-preserver-spaces=\"true\">Growing Adoption of Stablecoins<\/span><\/h2>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">Celo\u2019s progress in the stablecoin sector has been remarkable in 2024. <\/span><strong><span data-preserver-spaces=\"true\">Major stablecoin operators like Circle and Tether have integrated Celo support<\/span><\/strong><span data-preserver-spaces=\"true\">, significantly boosting the platform\u2019s adoption. <\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">Circle launched the first USDC tokens on Celo in February 2024, amassing $40 million in supply. Similarly, Tether announced Celo integration for its USDT stablecoin in March 2024, with $209 million Celo-based USDT tokens in circulation as of September 25.<\/span><\/p>\n<h2 style=\"text-align: left\"><span data-preserver-spaces=\"true\">The Future of Celo<\/span><\/h2>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">Buterin\u2019s endorsement and Celo\u2019s recent achievements have positioned the platform as a strong contender in the blockchain space. As Celo continues to grow and innovate, it remains to be seen how it will further impact the stablecoin market and the broader blockchain ecosystem.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Vitalik Buterin\u2019s Praise: Ethereum co-founder Vitalik Buterin praised Celo for surpassing Tron in daily active stablecoin addresses, marking a significant milestone. CELO Token Surge: Following Buterin\u2019s endorsement, Celo\u2019s native token, CELO, surged by approximately 25%, reaching $0.68. Upcoming Upgrade: Celo is set to upgrade its Alfajores testnet to an Ethereum Layer 2 solution on &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Vitalik Buterin Praises Celo for Surpassing Tron in Stablecoin Addresses\u2014Is Celo the New Contender?\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/vitalik-buterin-praises-celo-for-surpassing-tron-in-stablecoin-addresses-is-celo-the-new-contender\/#more-172160\" aria-label=\"More on Vitalik Buterin Praises Celo for Surpassing Tron in Stablecoin Addresses\u2014Is Celo the New Contender?\">Read more<\/a><\/p>\n","protected":false},"author":32,"featured_media":172162,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[102,84,74],"tags":[4620,5536,5016,4855,4872],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172160"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=172160"}],"version-history":[{"count":1,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172160\/revisions"}],"predecessor-version":[{"id":172164,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/172160\/revisions\/172164"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/172162"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=172160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=172160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=172160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}