3 reasons why the price of Constellation (DAG) surpassed most altcoins this week

Concerns have been raised that the Bitcoin (BTC) and Ethereum (ETH) consensus mechanism has played a role in the sideways price movement that both assets have seen over the past two months and that have opened the door for more projects to compete attract attention.

One project that managed to weather the sideways movement of the market and hit a new record high on July 10th is Constellation (DAG), a protocol that uses a directed pivot graph architecture to reach a theoretically infinitely scalable consensus to reach.

Data from Cointelegraph Markets Pro and TradingView show that DAG price rose 353% from a low of $ 0.037 on June 22nd to a new record high of $ 0.17 on July 10th.

Three reasons for DAG’s strong performance are the release of a live decentralized exchange, a growing list of global partners using the Constellation network for data management, and network capabilities that provide low-cost, highly scalable transactions.

DeFi starts profitably for manufacturers

The recently launched Lattice Exchange (LTX) is a decentralized exchange based on an automated market maker (DEX) that uses Constellation’s Hypergraph network to provide “near zero fees and a decentralized network”.

# YieldAgriculture is the perfect way for the community to interact with them directly @LaticeExchangewho have favourited users to use $ LTX while being rewarded.

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– Network exchange (@LaticeExchange) April 16, 2021

Over the next few months, the project has added more farming revenue to LTX tokens by providing liquidity on Uniswap or staking tokens directly on Lattice Exchange with a calculated APY of 155%.

DAG holders can also join the network by placing tokens in Status channel to increase the TPS capacity of the network, or by using the DAG token to run a node on Constellation’s Hypergraph protocol to validate data and transactions and receive rewards paid in tokens.

The partnership highlights the real application of Constellation

Constellation’s growing list of ecosystem partners is another indication of the project’s strong foundations.

Notable business partnerships include Amazon Web Services and the United States Airforce, and the project has also built industry-related partnerships with Chainlink (LINK) and the KuCoin exchange.

The announced partnership with Liechtenstein Cryptoassets Exchange (LCX) is also an important development for the Constellation ecosystem, as the exchange has agreed to support the listing of DAG alongside future tokens generated with the Constellation Network L_0 Token Standard.

Faster transactions, lower costs

Recently, Bitcoin and Ethereum have come under closer scrutiny due to their high environmental costs and transaction fees. This is causing investors and developers to turn their attention to projects like Solana and Layer 2 solutions, which offer faster transaction speeds.

Just a few months ago, blockchain projects and traders were paralyzed by high gas fees on the Ethereum network, and that means any project that offers secure, low-fee transactions with competitive TPS, everyone has the opportunity to grow.

The new “Stargazer” wallet is connected to Lattice and supports free person-to-person transactions in the network.

As the crypto community prepares for the upcoming London hard fork on Ethereum, the fate of competing Layer-One and Layer-2 solutions continues to play out as users wait to see if the upgrade leads to a drop in prices, a significant cost or a cost Not. Unless things improve significantly, strengthening fundamentals and the ability to fill a growing demand niche could bode well for future DAG price.