Radix (RDX) rallied 127% in the past seven days after the project team announced the upcoming Babylon update date.
As stated in the announcement, the Babylon upgrade is designed to appeal to developers. Given the increased number of developers on Radix, the community has come to expect greater expansion following the upgrade.
Price increased
The RDX price hovered around $0.05 on April 11, when the project team announced the implementation date for the Babylon upgrade. At the time of writing, the price is trading at $0.1193, up more than 127%.
Source: TradingView
Although the hype around RDX started a week ago, the bull run continues. RDX has gained 36.5% in the past 24 hours.
Upgrade Babylon
The Radix team has noticed the recent spike in the price of XRD and stated that the number of developers learning how to build on Radix is ​​increasing.
According to the data they shared, the platform recorded 8,532 different developers as of February 22, 2023. This number will only be 140 in February 2023 and 2,072 in June 2022, an increase of 5.994% and 695%, respectively.
While the data suggests that the number of developers on the platform is growing healthily, the Babylon upgrade aims to spur further growth. The announcement post describes the Babylon update as:
“Whatever brings someone to Radix in the first place, whether it’s a totally better user experience, Scrypto, scalability that doesn’t break composability, RadFi, or something like that, as light as simple exchange integration, there’s no What has changed is that it is sticky.
Once anyone starts interacting with what’s about to happen in Babylon, it’s only a matter of time before they become addicted. “
The announcement also acknowledges that the update created a certain “echo,” bringing new collaboration opportunities to the system. The Babylon upgrade is expected to launch on July 21, 2023.
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