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Ethereum Liquid Staking Booms: 5 Platforms Control 97% of Market

• Ethereum-based liquid staking protocols have locked in over $11 billion worth of Ether.
• Lido has the largest portion of the value locked (TVL) with 73% of the total TVL.
• Coinbase’s wrapped ether, Rocket Pool, and Frax Ether have seen significant gains in the past month.

Ethereum Liquid Staking on The Rise

The value locked in 11 Ethereum-based liquid staking protocols has risen above $11 billion as of Feb. 7, 2023. Lido holds more than 73% of the total value locked (TVL), with Coinbase’s wrapped ether coming in second at 15%. Over the past month, Lido, Coinbase, and Rocket Pool have all recorded 4-10% gains in their respective TVLs.

Major Players

Out of 6.87 million ether held by 11 liquid staking platforms, Lido holds 41%, or $8.18 billion worth of ETH. This is followed by Coinbase’s 574% gain over last month to 1,081,304 ETH and a market share of 15%. Rocket Pool saw 10.71% increase to 387,016 ETH while Frax Ether grew 76.73% to 87,134 ETH over the same period of time. Stakewise rounds off the top five liquid stakers with 84,481 ETH locked valued at $136 million and a 1.23% market share out of 6.87 million ether total TVLs for all platforms..

Benefits Of Liquid Staking

Liquid staking allows holders to earn rewards while still having a liquid form of cryptocurrency that they can sell at any time without relying on a custodian platform for services such as minting and redemption processes for tokenized versions of cryptocurrencies like Ethereum (ETH).

Value Locked On The Beacon Chain Contract

The Beacon chain contract has 16.47 million ether locked which is equal to $26 billion and cannot be withdrawn until March’s hard fork occurs on Ethereum’s network . A significant portion this large sum is held within liquid staking protocols; thus making it an attractive trend since its introduction onto the network’s Beacon chain .

Conclusion

With its introduction onto Ethereum’s network ,liquid staking has become an attractive trend due to its high liquidity compared other forms of cryptocurrencies , allowing users to earn rewards without needing a custodian for services such as minting and redemption processes . As seen from this article ,the value locked within 11 Ethereum- based liquid staking protocols has risen above $11 billion with Lido holding 73 %of the total market share .

Ethereum Falls Below $1,600 Ahead of Key US Economic Data

  • Bitcoin: Bitcoin (BTC) retreated from a recent five-month high on Tuesday, with prices falling below the $23,000 mark in today’s session.
  • Ethereum: Ethereum also moved lower today, with prices falling further below $1,600.
  • US Economic Data: Market volatility has increased as traders prepare for a big few days of economic data from the United States.

Bitcoin Technical Analysis

Bitcoin (BTC) retreated from a recent five-month high on Tuesday, with prices falling below the $23,000 mark in today’s session. The move comes as traders appear to have secured gains from recent surges in price, and ahead of the upcoming Federal Reserve policy decision. BTC/USD – Daily Chart shows that today’s drop saw BTC move closer to a price floor at $22,500, with the relative strength index (RSI) hitting a floor of its own. Currently, the index is now tracking at 68.78 which is marginally above its long-term support point at 68.00.

Ethereum Technical Analysis

In addition to BTC, ethereum (ETH) was also in the red in today’s session, with prices falling further below $1,600. Following a high of $1,595.86 to start the week ETH/USD slipped to an intraday bottom of $1,546.66 on Tuesday. Many in the market somewhat saw this coming due to prices being significantly overbought and at the time of writing; The RSI is currently tracking at 57.02 .ETH has already rebounded from earlier lows and is currently trading at 1$571.37 ,with bulls sure to make another run towards the $1 600 zone .

Key Week Of US Economic Data

Market volatility has since increased as traders prepare for a big few days of economic data from the United States .The conference board will release its consumer confidence report later today ,with Federal Reserve holding its policy meeting on Wednesday .

Expectations

Do you expect ethereum to rise back above $1 600 this week ?Leave your thoughts in comments below .

< h2 >< u >Conclusion
Bitcoin and Ethereum both moved lower today ,as market volatility increases ahead of key week of US economic data .It remains uncertain whether etherium will rise back above 1$600 this week but many are optimistic about it .

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Crypto Bulls Take Over: Solana and Shiba Inu Surge To New Highs

• Solana (SOL) surged by as much as 30%, setting a fresh multi-month high
• Shiba Inu (SHIB) was trading at its strongest point since November, up 10% today
• Cryptocurrency markets were significantly bullish to start the weekend, with the global market cap 8.28% higher as of writing

Cryptocurrency markets were feeling the bullish vibes to start the weekend, with the global market cap 8.28% higher as of writing. Two of the biggest movers were Solana (SOL) and Shiba Inu (SHIB), both of which hit multi-month and six-week highs respectively.

Solana (SOL) was the biggest mover, rallying by as much as 30% on Saturday. Following a low of $16.52 yesterday, SOL/USD surged to an intraday high of $22.37 earlier today. This marked the token’s strongest point since November 9, when price was at a top of $24.60. The move came after the 14-day relative strength (RSI) index moved above a ceiling at the 80.00 level, and is now tracking at 85.44. It remains to be seen whether or not the current rally will continue, or if it will cool off as the day matures.

Shiba Inu (SHIB) was another notable gainer in crypto markets, as the meme coin rose by over 10% today. SHIB/USD hit a peak of $0.00001081 to start the weekend, after ending the working week at a low of $0.000009462. This resulted in prices climbing to their highest level since early November. Overall, Shiba Inu has now risen for a third consecutive session, and is up 24% in the last seven days. It appears that the earlier gains have already begun to show signs of easing, with price now trading at $0.00001039. This comes after the RSI failed to break out of its long-term resistance point at the 80.00 mark.

The weekend is still young, and it will be interesting to see if the bullish sentiment in cryptocurrency markets persists in the coming days.

Dogecoin and Shiba Inu Surge to Multi-Week Highs on RSI Breakout

• Dogecoin (DOGE) and shiba inu (SHIB) both surged to multi-week highs on Thursday, with DOGE/USD climbing to its highest point since December 27.
• The rally in meme coins comes after a period of consolidation over the holiday season and coincided with the 14-day relative strength index (RSI) breaking out of a key resistance zone.
• SHIB/USD also surged to its strongest point since December 18, breaking out of its own resistance level at $0.00000850 and sending the RSI above the 50.00 level.

On Thursday, both Dogecoin (DOGE) and shiba inu (SHIB) surged to multi-week highs, as traders returned from recent Christmas and New Year’s celebrations. Dogecoin raced to a peak of $0.07503 earlier today, after bottoming out at $0.07181 on Wednesday. This move sent the token to its strongest point since December 27, when price was in the midst of a prolonged sell-off.

The rise in price also came as the 14-day relative strength index (RSI) marginally broke out of a key resistance zone. The index is currently tracking at 42.81, which is slightly above a ceiling of 42.00.

Shiba inu also saw notable gains on Thursday, with SHIB/USD surging to a peak of $0.000008531 earlier today. The move sent the meme coin to its strongest point since December 18, prior to the holiday season consolidation.

Looking at the chart, the rally also saw SHIB break out of a recent point of resistance at $0.00000850, with the RSI also following suit. Price strength surged past its own ceiling at the 50.00 level, and is currently tracking at 51.63.

Despite this sign of strength, traders should still keep an eye on the market as the nonfarm payrolls numbers will be released on Friday. If the numbers come in higher than expected, it could trigger a widespread sell-off in the cryptocurrency market.

Digital Ruble: Russia Develops Payment Infrastructure for CBDC

• A draft law devoted to the digital ruble has been filed with the State Duma, the lower house of Russian parliament to create the necessary payment infrastructure for the digital ruble.
• The proposal aims to amend several existing laws such as the law on „On the National Payment System“ to assign to the Bank of Russia the role of sole operator of the CBDC platform.
• Changes to the Federal Law „On Personal Data“ allow Russia’s central bank to process personal info

The Bank of Russia, the country’s central bank, has proposed the introduction of a digital ruble, a central bank digital currency (CBDC) meant to facilitate payments and money transfers in the Russian Federation. The new form of national fiat has been submitted in the form of a draft law to the State Duma, the lower house of parliament, for consideration.

The explanatory notes to the bill, quoted by the crypto page of the Russian business news portal RBC, suggest that the main purpose of the legislation is to develop the necessary payment infrastructure for the digital ruble. This, the sponsors believe, would provide Russian citizens, businesses, and the state with access to fast, convenient, and low-cost money transfers.

The proposal aims to amend several existing laws such as the law on „On the National Payment System“ to which the members of Duma want to add definitions pertaining to the CBDC. The new provisions assign to the Bank of Russia the role of sole operator of the CBDC platform. They also establish the procedures for opening wallets for the digital ruble and accessing its platform. An amendment to the law „On Currency Regulation and Currency Control“ secures the status of the digital ruble as a currency of the Russian Federation and defines CBDCs issued by the central banks of other nations as foreign currencies.

Changes to the Federal Law „On Personal Data“ allow Russia’s central bank to process personal information related to the digital ruble. The legislation also sets out the conditions for the use of data obtained in the process of providing services for the issuance, circulation, and withdrawal of the digital ruble.

The Bank of Russia is currently conducting a series of tests to assess the viability of the digital ruble. The central bank has already completed the first stage of the project, where it tested the technical capabilities of the CBDC platform. The second stage is focused on the testing of the legal framework and the third, the final stage, will assess the economic implications of the digital ruble.

The Bank of Russia expects to have the digital ruble ready for launch by the end of 2021. The introduction of the digital ruble would be a major development in the Russian payments sphere, as it would provide citizens and businesses with a faster, cheaper, and more secure alternative to traditional payment methods.

Robert Kiyosaki Invests in Bitcoin: SEC Regulations Will Crush Other Cryptos

• Robert Kiyosaki, author of Rich Dad Poor Dad, is investing in Bitcoin because it is classified as a commodity.
• Kiyosaki warned that the Securities and Exchange Commission (SEC) regulations will „crush“ most other cryptocurrencies.
• The SEC and CFTC have both confirmed that Bitcoin is a commodity.

Robert Kiyosaki, the famous author of the best-selling book Rich Dad Poor Dad, has recently revealed why he is investing in Bitcoin. He believes that the cryptocurrency is a commodity much like gold, silver, and oil, and that the U.S. Securities and Exchange Commission (SEC) regulations will “crush” most other crypto tokens.

Kiyosaki’s 1997 book Rich Dad Poor Dad has been a New York Times Best Seller for over six years and has sold more than 32 million copies in over 51 languages across 109 countries. On Friday, he took to Twitter to announce his intention to buy more Bitcoin and explained why he is “very excited” about the crypto asset.

The SEC Chairman Gary Gensler has said repeatedly that Bitcoin is a commodity while most other crypto tokens are securities. This has been confirmed by the Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam, who has stated that Bitcoin is a commodity.

The SEC has been criticized for targeting crypto exchanges and other crypto-related businesses with enforcement actions since 2018. However, it has also issued guidance on crypto and digital asset markets, which is aimed at helping investors make informed decisions. The regulator is currently working on a new set of rules for crypto brokers and dealers.

Kiyosaki’s recent crypto investment is a sign that the industry is gaining more mainstream attention. He may be the first in a long line of famous authors, celebrities, and investors who will invest in the crypto space. It remains to be seen what the future holds for the SEC and its regulations, but it’s clear that the regulator is taking the crypto industry seriously.

BMW Partners With Coinweb to Introduce Blockchain-Based Tools

• BMW, the luxury car manufacturer, has partnered with Coinweb, a decentralized blockchain layer 2-based company, to introduce blockchain-based tools to its operations.
• These tools include automation for vehicle financing processes, and also a rewards program for customers of the automotive company adapted to compliance processes in Thailand.
• The alliance will use Binance’s Bnb Chain as the anchor chain for these transactions due to its performance-to-cost ratio.

BMW, the German car manufacturer, has recently announced a partnership with Coinweb, a layer 2 (L2) blockchain interoperability protocol, in order to introduce blockchain-based processes to its operations. This alliance will enable the introduction of blockchain-based tools that can streamline different processes, such as the financing of BMW-branded vehicles, and also a rewards program for customers of the automotive company adapted to compliance processes in Thailand.

The first task of this partnership involves the development of a smart contracts platform that can be used to facilitate the financing of BMW vehicles, which will include the implementation of an Anti Money Laundering (AML) and Know Your Customer (KYC) tool that is adapted to the local laws of Thailand. The smart contracts platform will also provide a secure environment for the completion of the various procedures needed for the financing of vehicles.

The second task of this alliance is the creation of a blockchain-based loyalty program that will reward customers of the BMW brand with products and services, assigning a rank to each customer directly related to their rewards accumulation. Coinweb stated that it will use Binance’s Bnb Chain as the anchor chain for these transactions due to its performance-to-cost ratio. However, the transactions could be broadcasted to other blockchains if needed.

The introduction of blockchain processes to BMW’s operations is expected to bring multiple benefits, such as a more efficient and secure process for the financing of vehicles, as well as the ability to reward customers in a cost-effective manner. Moreover, by using a layer 2 protocol, BMW will be able to take advantage of the speed and scalability of the blockchain technology, while still maintaining the security of the information.

In conclusion, BMW’s partnership with Coinweb is an example of how companies are increasingly introducing blockchain processes as part of their operations due to the ostensible reliability of the tech and how it can help save on costs. The two tasks of this partnership are expected to bring multiple benefits to BMW, its customers, and the automotive industry as a whole.

Dmitry Medvedev Predicts ‚Wildest‘ Economic Changes Ahead of 2023

• Russia’s former head of state, Dmitry Medvedev, predicts that digital fiat currencies will spread in the new year and the U.S. Dollar will lose its status of global reserve currency.
• Medvedev foresees the Bretton Woods monetary system collapsing, the IMF and World Bank crashing, and oil prices and natural gas prices increasing.
• He also expects the EU to collapse, the euro to fall out of use, and France and Germany to clash while Hungary and Poland occupy parts of Western Ukraine.

As the world awaits the New Year, one former head of state is making predictions about what the future holds. Dmitry Medvedev, who served as the President of Russia from 2008-2012, has taken to social media to share his thoughts on what he believes will happen in 2023. In a series of tweets, the politician gave his two cents on the wildest predictions for the year ahead.

Medvedev believes that the U.S. dollar will be losing its status as the global reserve currency, with digital fiat currencies taking over. He foresees the Bretton Woods monetary system collapsing, which would cause the International Monetary Fund (IMF) and World Bank to crash. In addition, Medvedev predicts that oil prices will reach $150 per barrel, and natural gas prices will increase to over $5,000 per barrel.

The former head of state also expects the European Union (EU) to collapse after the United Kingdom rejoins the bloc. He believes that the euro will fall out of use, and France and Germany will clash while Hungary and Poland occupy parts of Western Ukraine.

Although these predictions may seem far-fetched, Medvedev is not the only one to make such predictions. Other world leaders, economists, and financial analysts have expressed similar beliefs about what the future holds for the global economy.

At the end of the day, only time will tell if Medvedev’s predictions will come true. However, his “humble contribution” to the “wildest predictions” ahead of the New Year has certainly sparked conversation about the future of the global economy.

Bitcoin Hashrate Surges as Two Mining Pools Command Over 50%

• Bitcoin’s hashrate has increased from 170 to 300 EH/s due to a number of Texas miners temporarily going offline.
• Statistics from Dec. 29 show two mining pools, Foundry USA and Antpool, commanding more than 50% of the global hashrate.
• Bitcoin mining difficulty is expected to decrease significantly in the next five days.

The Bitcoin (BTC) network’s hashrate saw a significant surge this week, reaching a peak of 300 exahash per second (EH/s) on Dec. 28, 2022. This spike was largely due to a number of Texas-based miners temporarily going offline on Dec. 25, 2022. This shift in the network’s hashrate distribution has caused some controversy, as two mining pools now command more than 50% of the global hashrate.

The Bitcoin network relies on the computational processing power of miners to secure the network and process transactions. This power is measured in hashrate, which is expressed as exahash per second (EH/s). This week, the total hashrate of the network dropped to a low of 170 EH/s on Dec. 25, 2022, due to miners in Texas curtailing their hashpower. This was done to reduce the strain on the electricity grid and ensure the safety of the miners and their facilities. However, by 12:00 p.m. (ET) the same day, the hashrate had already recovered to 240 EH/s and continued to climb, eventually reaching the 300 EH/s mark late on Dec. 28.

Statistics from Dec. 29, 2022 show that two mining pools, Foundry USA and Antpool, are now controlling more than 50% of the global hashrate. Foundry USA currently commands 31.45% of the total hashrate, while Antpool controls 21.87%. Together, these two mining pools are responsible for 53.32% of the current 250.57 EH/s. F2pool and Viabtc have 14.25% and 9.34% of the hashrate respectively.

The jump in hashrate has caused some to accuse the network of becoming more centralized. This has led to some criticism of the network, which is counterintuitive to the decentralization that Bitcoin is meant to promote. However, the hashrate is expected to drop significantly in the next five days, as the mining difficulty is expected to decrease due to the current hashrate distribution. This decrease in difficulty should make it easier for smaller miners to compete and reduce the percentage of hashrate commanded by the two biggest mining pools.