Radix surges over 120% in a week after Babylon upgrade announcement Radix surges over 120% in a week after Babylon upgrade announcement
The Radix team announced the Babylon Update on April 17, saying it will be deployed on July 31, 2023 to further increase developer adoption.
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Updated: Apr. 18, 2023 at 2:39 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Radix (RDX) recorded a 127% surge in the last seven days after the project team announced the date of the upcoming Babylon update, according to CryptoSlate data.
The Babylon upgrade is designed to “hook” developers, as the announcement post states. Given that the number of developers on Radix has already been increasing, the community started to expect an even larger expansion with the upgrade.
The surge
The RDX price has been lingering around $0.0503 on April 11, when the project team announced the deployment date for the Babylon upgrade. At the time of writing, the price sits at $0.1191, which marks over 127% increase.
Even though the hype around RDX started a week ago, the price surge continues. The CryptoSlate data also shows that the RDX token recorded a 35.65% increase in the last 24 hours and another 4.11% increase in the last hour.
Babylon upgrade
The Radix team noticed the recent surge in the XRD price and said that the number of developers that are learning to build on Radix is surging.
According to the data they shared, the platform recorded 8,532 unique developers as of Feb. 22, 2023. This number was just 140 in February 2023 and 2,072 in June 2022, which marks over a 5994% and a 695% increase, respectively.
Even though the data indicates that the platform is recording healthy growth in terms of the number of developers, the Babylon upgrade aims at further increasing it. The announcement post describes the Babylon update as:
“Regardless of what initially brings someone to Radix, whether it’s the radically better user experience, Scrypto, scalability without breaking composability, RadFi, or even something as light-touch as a simple exchange integration, the one constant is that it’s sticky.
As soon as someone sits down and starts to engage with what’s coming with Babylon, it’s only a matter of time before they’re hooked, and rightly so!”
The announcement also acknowledges that the update created a certain “buzz”, which brought new partnership opportunities to the pipeline. The Babylon upgrade is expected to be deployed on July 21, 2023.
Posted In: Tokens
Author 
Zeynep Geylan
Zeynep is an academic who turned to crypto in 2018. Originating in social sciences, she is especially interested in the social impact of blockchain and cryptocurrencies and strongly believes in their transmuting power.
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Radix is a layer 1 smart contract platform that started from the problem of how to decentralize the $400 trillion global financial system and worked backwards from that objective.
