The cryptocurrency market lost over $100 billion in the past week, with Bitcoin (BTC) unable to reclaim the $28,000 level. BTC lost around 9% over the week but still outperformed the rest of the market, with its dominance metric standing at 44%, up 4% over the past seven days. Radix (XRD) gained 13% in the past day and is up 30.9% over the past week, making it the best performer during this period. Ethereum continues to trade below $1,900, while XRP lost the pivotal $0.5 level. It remains to be seen whether the market sentiment will shift or if there's more pressure ahead.

Layer-1 protocol Radix has partnered with interoperability protocol LayerZero to integrate LayerZero into the Radix Babylon public network, enabling cross-chain communication and asset transfers. Web3 interoperability allows different decentralized applications and blockchain networks to communicate with each other, increasing functionality, liquidity sharing, and security. The integration is set to launch in the second half of 2023 and is expected to benefit the users of both platforms. Radix Foundation Director Piers Ridyard expressed enthusiasm about the integration, stating that it will showcase the potential of cross-chain interoperability and contribute to a more decentralized Web3 ecosystem.

Radix's XRD token has more than doubled in value in the past 30 days, becoming the best-performing top 100 cryptocurrency. The token has rallied by 176% to $0.114, with its market capitalization reaching $1.16 billion, making it the 46th largest coin in the market. The rally is attributed to Radix's March fundraising, which gave the company a valuation of $400 million, and optimism about the impending upgrade to its Babylon mainnet scheduled for July 31. The upgrade will introduce smart-contract capabilities to Radix, allowing developers to create powerful decentralized applications. Babylon will also natively support liquid staking of XRD, eliminating the need for separate protocols like Lido. Radix has over 50 projects developing applications and tools for gaming, trading, lending, NFTs, and wallets.

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.

Jane Street Group, Tower Research Capital, and Radix Trading have been identified as Binance's three "VIP" clients in the recent lawsuit filed against Binance by the US commodities regulator. Radix Trading is "Trading Firm A" in the Commodities Futures Trading Commission's (CFTC) suit, while Jane Street was "Trading Firm B" and Tower Research was "Trading Firm C." The firms were examples of US clients allegedly able to access Binance. The CFTC claimed that the "VIP" treatment from Binance actively facilitated violations of US law by helping US trading firms evade Know Your Customer (KYC) compliance standards. Binance has denied the claims of compliance and market manipulation violations.

Radix, a Layer 1 blockchain network that claims to provide a "radically" better developer and user experience, said Thursday it reached a $400 million valuation in a new $10 million funding round.

Radix, a smart contract platform for asset-oriented DeFi, has unveiled concept images for its Web3 wallet.