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Ethereum

UK FCA’s Stance on Crypto Seen as Harsh but Fair

Recently, the United Kingdom’s Financial Conduct Authority released a detailed statement urging all local crypto business operators to register with the government watchdog by June 30. As part of the document, the regulator has made it absolutely clear that applications will need to have been processed, at the latest, by the end of the official grace period, which ends on Jan. 10, 2021, and failing to meet the requirement will result in a...

Surge in Stablecoin and DeFi Growth Bring Ethereum Fees to 2-Year High

The median transaction fees on the Ethereum network are the highest they have been in two years and have risen above Bitcoin fee for the second time in the last three months. Recently, Coinbase researcher Max Bronstein tweeted the chart below and suggested that the most recent surge seems to be due in largely in part to increased interaction with stablecoins on the Ethereum network.Tx. fee earnings of Bitcoin and Ethereum. Source: TwitterAs previously...

Six Crypto Heavyweights Join ETH 2.0 Staking Trial

Six high-profile crypto firms will participate in an ETH 2.0 staking pilot project using the ConsenSys Codefi platform.On June 17, ConsenSys tweeted that cryptocurrency exchanges Binance and Crypto.com, digital asset custody providers Trustology, Matrixport, and Huobi Wallet, and investment firm DARMA Capital would receive early access to an ETH 2.0 staking pilot thorough its decentralized finance Codefi platform.Increasing excitement for ETH 2.0The move comes amid increasing excitement for the long-awaited ETH 2.0, which...

Options Trading Is a Huge Step for the Crypto Derivatives Market

For those of us involved in the cryptocurrency space, we've gotten used to the fast-paced nature of this rapidly growing industry. New technology quickly becomes old, bright shiny projects lose their luster, and what started out as a few privacy advocates sending “magic internet money” to one another has mushroomed into a whole new asset class with a robust infrastructure established around it. Every new product, application or financial instrument that we add...

DeFi Records ‘Exponential’ Growth in Assets

Decentralized finance (DeFi) continues to grow at an exponential rate with the number of new DeFi assets increasing by almost ten fold over the same time last year. Zerion DeFi project founder Evgeny Yurtaev shared a graphic on Twitter showing the number of new assets almost doubled in the last month and commented that growth “looks exponential to me”. The number of new assets reached over 1,000 for the first time last month with...

A New Token Lets You Save on Ethereum Fees by ‘Storing’ Gas

Ethereum (ETH)’s fees are hard-coded to only be payable in Ether, but a clever trick with smart contracts allows users to effectively pay for gas with a special token, which reduces the total fee they incur.This principle was used by the team behind 1inch.exchange, a decentralized exchange aggregator, to introduce the Chi token. The technology was formally announced on June 5, and it builds on a previous iteration of the concept, called Gas...

Crypto Custodians Waiting on Regulators to Act

The business of cryptocurrency custody is getting more competitive and lucrative by the day. The most recent announcement has come from Switzerland, where local family-owned bank Maerki Baumann announced on May 29 that it had expanded its cryptocurrency services through the introduction of crypto custody and trading. The private bank first announced its crypto initiatives in 2019 by extending business account services to blockchain companies.Thanks to regulatory approval from the Swiss Financial Market...

Fortnite Fans Race to Earn ETH-Based Rewards on Reddit, Crypto Users Saunter

Within days of launching on the Rinkeby testnet, Reddit’s Ethereum (ETH)-based Community Points rewards system has seen more than 10,000 addresses created.Reddit’s points were rolled out across two subreddit communities pertaining to the topics of the popular video game Fortnight (r/fortniteBR) and cryptocurrency (r/cryptocurrency) from March 13 to March 15.Perhaps surprisingly, over 80% of wallets created on the testnet so far represent the Fortnight community.Reddit ‘Community Points’ wallets tag five-figuresWithin three days of...

How Cross-Chain Composability is the Future of Decentralized Finance

Decentralized Finance, or DeFi, has been making strides in providing tools for users to take control of their own money and truly be their own bank. However, the assets that power this revolution exist primarily on blockchains, and historically these networks don’t easily communicate with each other. This creates real roadblocks and liquidity issues for many of the applications that are trying to revolutionize finance. New solutions could pave the way for greater...

66% of ETH Hodlers Plan to Stake at Least Some of Their Coins

Ethereum (ETH)-focused blockchain technology firm, ConsenSys, has published a report looking at the staking and custody preferences of ETH holders.The report finds that two-thirds of Ethereum investors plan to stake their coins once the first phase of ETH 2.0’s roll-out is completed.Interestingly, ETH holders who plan to run their own validator nodes are expecting to receive lower annualized rewards than those who intend to stake through a third-party provider.Staking preferences indicate counterparty risk...
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