Crypto
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Ethereum’s ‘consensus layer’ contract hits 10M ETH staked
Quantitative analysis conducted on popular blockchain site Etherscan indicates that 184,441 transactions have been responsible for 10.2 million Ether (ETH) staked into the Eth2 (consensus layer) deposit contract since inception on Nov. 4 last year. This figure is equivalent to over $26 billion, based upon current Ethereum prices. Mathematical calculations suggest that the milestone was surpassed during block 14348729 in the evening of March 8, identified by mainstream cryptocurrency publications and community advocates in the last few hours. In late January of this year, the Ethereum Foundation published an alteration to the network’s terminology, with the initial proof-of-work blockchain, or Eth1, now being referred to as the execution layer, and the upcoming proof-of...
Polygon’s focus on building L2 infrastructure outweighs MATIC’s 50% drop from ATH
After a devastating 50% correction between Dec. 25 and Jan. 25, Polygon (MATIC) has been struggling to sustain the $1.40 support. While some argue this top-15 coin has merely adjusted after a 16,200% gain in 2021, others point to competing scaling solutions growth. MATIC token/USD at FTX. Source: TradingView Either way, MATIC remains 50.8% below its all-time high at an $11 billion market capitalization. Currently, the market cap of Terra (LUNA) stands at $37 billion, Solana (SOL) is above $26 billion and Avalanche (AVAX) is at a $19 billion market value. A positive note is that Polygon raised $450 million on Feb. 7, and the funding round was backed by some of blockchain’s most considerable venture funds, including Sequoia Capital. Polygon offers scaling and infrastructure support to Ethere...
Real Vision’s Raoul Pal insists Bitcoin is correlated with risk in the short term
The macro guru told the community to focus on Bitcoin’s long-term He labelled the current liquidity and behaviour’ noise. Co-founder and CEO of Real Vision Raoul Pal has defined an interesting position on Bitcoin’s market behavior. The crypto investor earlier today posted on his Twitter account telling the community that Bitcoin, just as other assets, remains a risk-on product in the short term. However, unlike a good number of these ‘other’ risk assets, Bitcoin promises an exponential pattern of growth over the long term. Bitcoin’s long-term trend is different from the majority of risk assets The former Goldman Sachs executive asked holders to ignore the current volatility “noise” and instead focus on the overall potential of the digital ass...
What happened Solana, and what is next?
Perhaps no coin symbolises the rollercoaster ride of crypto better than Solana (SOL). It’s been a journey filled with meteoric highs and crushing lows – so let’s dive in to exactly what has happened over the last year, and what the future holds for Solana. Ethereum’s Problems The phrase “Ethereum-killer” gets thrown around a lot in crypto. For the most part, I roll my eyes. Sure, ETH has its fair share of problems. Even amid the recent parabolic rise in oil prices, gas in the real world still looks like a bargain compared to Ethereum. Given the extent of these fees, it has very much become the blockchain of the elites, with transactions completely unfeasible unless in very large amounts. Still cheaper than Ethereum though… Having said that, the network effects and first mover advantage wit...
Stablecoins will remain relevant even with the dawn of the CBDCs era, says Tether CTO
CBDCs will leverage private blockchains for tech infrastructure They, however, won’t be issued on private chains like stablecoins are at present Chief Technology Officer at Tether, Paolo Ardoino, has dismissed concerns that central bank digital currencies (CBDCs) will affect the currently offered private stablecoins. Ardoino was speaking in regards to the debate that has been happening in recent months, as more countries are declaring ambitions in CBDCs. CBDCs will power bank activities Explaining his view, Ardoino engaged his Twitter followers with the perspective that CBDCs are not built to digitise fiat currencies since most transactions in the modern day are already digital. Rather, he argued that these government-controlled digital currencies would essentially replace legacy pay...
FTX joins other crypto goliaths to promote autonomy over sensitive information
Centre, an open-source technology project developed by Coinbase and Circle, has onboarded crypto exchange FTX and Alkemi Network as its latest partners to collaborate on Verite. Verite is a set of shared decentralized identity protocols — developed by Centre — to empower crypto-centric individuals and businesses by granting total control of personal information. Supporting Verite’s commitment to collaborate on shared decentralized identity standards, FTX and Alkemi have added to the list of 14 crypto companies, which include Coinbase, Circle, Hedera Hashgraph, Ledger, the Solana Foundation and more. Verite launch partners include @circlepay , @blocks, @Algorand, @coinbase, @compoundfinance, @ConsenSys, Espresso Systems, @hedera, @Ledger, @MMInstitutional, @phantom, @SolanaFndn, @Spru...
HBAR Foundation launches $100M climate-focused impact fund, declaring DOVU as inaugural grantee
The HBAR Foundation, a philanthropic and independent subsidiary of distributed ledger firm Hedera Hashgraph, has announced the launch of the environmentally-conscious Sustainable Impact Fund (SIF), conceived to foster the development of climate-conscious solutions within the Hedera ecosystem. The first recipient, a Welsh blockchain company called DOVU, will be granted $100 million to pursue their open-source Guardian technology to develop publicly transparent mechanisms, such as their audit trail, to verify carbon-offsetting data. A supporter of the Crypto Climate Accord, Dovu’s carbon-centric market capitalization platform aggregates an abundance of real-time quantitative data on all Ethereum-based projects, tracking and openly publishing their carbon debt based upon ...
Okcoin launches $165M collective investment to push Bitcoin adoption
Cryptocurrency exchange Okcoin, along with the Stacks Accelerator and Stacks Foundation, announced on Thursday the start of the “Bitcoin Odyssey,” a one-year commitment among investment firms to invest $165 million in inventive solutions to help drive Bitcoin (BTC) adoption. The Bitcoin Odyssey is funded by Digital Currency Group, GBV Capital, White Star Capital and GSR, among other organizations, to respond to the rise in interest in decentralized finance (DeFi) and new technological capabilities made possible with Stacks. Alex Chizhik, head of listings at Okcoin, and Kyle Ellicott, partner at Stacks Accelerator, will co-lead the initiative. The money and assets will be used to finance initiatives that are being built on Stacks, an open-source network for Bitcoin-based smart contracts, an...
Inflation spikes in Europe: What do Bitcoiners, politicians and financial experts think?
Rising prices are grabbing headlines all over the world. Across the pond in the United States, inflation recently broke a 40-year record. The situation is severe in Europe, with prices rising over 5% across the Eurozone and 4.9% in the United Kingdom. While prices rise, Bitcoin (BTC) is flatlining at around $39,000. It poses many questions: Is Bitcoin an effective hedge against rising prices, what role can Bitcoin play in a high inflation environment and did Bitcoiners know that inflation was coming? Experts from the world of Bitcoin, finance and even European politics responded to these questions, sharing their views with Cointelegraph about the alarming price rises in Europe. From data analysts Kaiko’s monthly report, the Bitcoin price marched ahead of inflation, implying...
Bridgewater’s Rebecca Patterson believes the Ukraine situation will speed up growth in the crypto sector
Patterson said that crypto is currently liquid sensitive and has a long way to evolve She held that the Russia-Ukraine standoff should speed up growth in the crypto space In her opinion, the momentum in crypto could become self-fulfilling as more investors join in Bridgewater Associates’ Chief Investment Strategist Rebecca Patterson has predicted that the current situation in Russia-Ukraine will only speed up the overall growth of ecosystems around digital assets. Speaking to CNBC’s Closing Bell, the investment manager noted that this is a significant moment for crypto as it is the first time the digital asset has been used as a geopolitical tool, unlike capital markets that have, in the past, been caught up in the midst of a geopolitical crisis. Patterson added that crypt...
Crypto market recedes after Wednesday’s rally, FTM and XMR down over 10%
The upwards momentum inspired by yesterday’s release of the Biden crypto executive order has waned The majority of the top cryptocurrencies are seeing losses in the range of 4% to 8% The price of most crypto coins soared late Tuesday and remained high for the larger part of Wednesday. The midweek upswing was as a result of the White House crypto directive that was released yesterday, albeit the Treasury department, through Janet Yellen, had inadvertently shown a glimpse of what the order would entail. Bitcoin and company surged as the markets welcomed the vague order, interpreting it as progressive for the sector. Crypto assets have nosedived The market outlook has, however, changed 24 hours later, with many crypto assets resuming a downtrend after failing to sustain the momentum. Co...
Crypto-friendly Yoon Suk-yeol emerges victorious in South Korean presidential election
Policy changes in the digital assets industry formed a key campaign issue Suk-yeol promised reduced taxes and incentives to realise the potential of digital assets in the economy Yoon Suk-yeol, a conservative candidate in South Korea, has clinched the presidency with a narrow margin over his closest competitor, Lee Jae-myung. Suk-yeol, a former prosecutor who has in the past imprisoned South Korean leaders on corruption charges, campaigned on the platform of deregulating crypto. Crypto took centre-stage as a campaign issue, with the leading candidates defining crypto-friendly stances to win over the young voters. The debate came on the back of harsh regulations on the crypto markets. Korea’s financial watchdog, the Financial Services Commission (FSC), has imposed tight regulatory req...
