Kategorie: Blog

• 11.5 million ETH is staked via staking providers
• Lido holds 42% of the staked ETH
• Coinbase, Kraken and Binance hold 18%, 11% and 9% of all staked ETH, respectively

As of press time, the total amount of ETH transferred to the ETH2 deposit contract via staking providers has hit 11.5 million. This marks a significant milestone for Ethereum’s transition to ETH2, as more and more users are staking their ETH in order to take part in the network’s upcoming upgrade.

Lido, a staking service provider, currently holds 42% of all staked ETH. This is a significant amount, considering the fact that 80% of all staked ETH is concentrated among just four entities. Aside from Lido, these entities include centralized exchanges Coinbase, Kraken and Binance, which hold 18%, 11% and 9% of all staked ETH, respectively.

It’s clear that staking providers are becoming increasingly popular, and users are becoming more comfortable with leaving their funds in the hands of these entities. However, it’s still important to exercise caution when selecting a staking provider, as there are some providers out there that may not be as reliable or secure as others.

Overall, it’s exciting to see the amount of ETH staked via providers hit 11.5 million. This is a sign that ETH2 is gaining traction, and that users are looking forward to the launch of the network. With so much ETH locked up, it’s clear that ETH2 will be an important part of the Ethereum ecosystem for years to come.

• The Ethereum/Bitcoin ratio currently stands at 0.068, a 3-month low after falling 6.78% between Jan. 20 and Jan. 25.
• ETH/BTC hit its highest ratio at 0.12 in the summer of 2017, but has since then dropped to lower lows.
• All eyes will now be on the anticipated Shanghai upgrade.

Ethereum, the world’s second-largest cryptocurrency by market capitalization, has seen a significant decline in its ETH/BTC ratio. According to data from TradingView, the ratio currently stands at 0.068, a 3-month low after falling 6.78% between Jan. 20 and Jan. 25.

This is a significant drop for Ethereum, which had its highest ratio at 0.12 in the summer of 2017. Since then, the coin has experienced a steady decline, with traders and analysts now watching to see if the anticipated Shanghai upgrade will help restore its price.

The Shanghai upgrade is an upcoming hard fork of the Ethereum blockchain, which is expected to improve its scalability and reduce transaction fees. It was announced in December 2020 and is set to take place in the Shanghai-based mining pool in the first quarter of 2021.

The upgrade is based on the Ethereum Improvement Proposal (EIP) 1559, which will adjust the base fee of Ethereum transactions. This will be done by introducing a mechanism that dynamically adjusts the base fee according to the current demand and supply of the Ethereum network.

The upgrade has been highly anticipated by the Ethereum community, with some expecting it to help boost the cryptocurrency’s price and restore its ETH/BTC ratio. However, only time will tell if the upgrade will be successful and if it will have a positive impact on the price of Ethereum.

In the meantime, traders and investors will be keeping a close eye on the ETH/BTC ratio and the Ethereum blockchain in general. If the anticipated upgrade is successful, it could help Ethereum regain its previous highs and potentially push its ratio even higher.

• Bitcoin was created as an intended use case to provide a new, global, digital, decentralized, permissionless, non-custodial, and apolitical monetary and financial system.
• Bitcoin rewards and protects savers more than the current central banking system.
• The other crypto assets and tokens have riskier, more speculative use cases that reintroduce many of the problems Bitcoin intended to solve.

Bitcoin was created with the intention to revolutionize the current system of finance and offer a new, global, digital, decentralized, permissionless, non-custodial, and apolitical monetary and financial system. This new system offers advantages over the current central banking system, such as reinforcing the importance of savings and protecting savers from the uncertainty of the current market.

Bitcoin is a move away from the traditional central banking system and towards a new bitcoin standard. This new system will restructure the economy, placing a greater emphasis on savings rather than speculation or gambling. Unlike the rest of the crypto market, Bitcoin was created to solve many of the problems seen in the traditional banking system, such as trust and counterparty risk.

The crypto market has seen significant growth in the past decade, with the introduction of thousands of alternative crypto assets and tokens. While this growth was made possible by the Bitcoin network’s implementation of blockchain technology, the intended use of Bitcoin is quite distinct from the other crypto assets and tokens. These alternative tokens may not stand the test of time and often reintroduce many of the same issues Bitcoin was designed to solve.

The potential benefits of Bitcoin are immense and could revolutionize the way people and businesses interact with currency. With its innovative use of blockchain technology and its ability to offer protection and reward to savers, Bitcoin could revolutionize the current system and lead to a new global financial standard.

• The AI narrative has grown stronger in recent weeks, with the release of chatbot ChatGPT capturing the imaginations of people across the globe.
• Over the last 30 days, the top three gainers in the AI sector have been Kambria (up 445%), SingularityNET (up 322%), and Graphling Protocol (up 290%).
• Most AI crypto tokens are microcaps, with high risk and potential for high reward.

The Artificial Intelligence (AI) sector has been the subject of much buzz in recent weeks, with the release of chatbot ChatGPT capturing the imaginations of people across the globe. ChatGPT’s capabilities have showcased the potential of AI to revolutionize multiple aspects of life, leading some to dub AI crypto tokens as the next big thing. This has been reflected in the sector’s performance, with the top three gainers in the AI sector over the last 30 days being Kambria, SingularityNET, and Graphling Protocol which grew 445%, 322%, and 290%, respectively.

When filtering data by market cap, it was found that the entire AI sector comprises of mostly microcap tokens, with eight of the top ten performers having a market cap of less than $50 million. Microcaps equate to untested proof of concept, a high risk of failure/abandonment, and a lack of liquidity. However, the upside potential of such tokens is heightened by capital inflows generating more significant percentage gains on low market caps.

As of January 18, the top five AI tokens by market cap are AGIX, FET, OCEAN, RLC, and NMR. AGIX is an AI-focused blockchain protocol designed to provide a modular, secure, and open-source infrastructure for the development and deployment of AI models. FET, on the other hand, is a decentralized data exchange protocol and marketplace which utilizes blockchain technology to incentivize data sharing and data monetization. OCEAN is a decentralized, open-source AI marketplace that enables enterprises to deploy and monetize AI models in a trustless manner. RLC is a blockchain-based computational platform that enables users to access, share, and monetize their AI models. Lastly, NMR is a decentralized data marketplace that enables users to securely access, store, and monetize their data.

The performance of the top five AI tokens during 2022 has been mixed. AGIX experienced the most growth, with a 166% increase in its price since the beginning of the year, while FET had the most significant drawdown, losing 74% of its value from its peak price. OCEAN and RLC experienced modest gains of 32% and 39%, respectively, while NMR experienced a slight loss of 12%.

Overall, despite the mixed performance of the top five AI tokens during 2022, the future of AI crypto tokens looks bright. With the increasing demand for data and the growth of the AI sector, many analysts believe that AI tokens are positioned to become the next big thing in the crypto space.

• Bitcoin surged from $17k to $21K since Jan. 11, leading investors to lock in $400M of realized profit on Jan. 17.
• Over $2B of realized profits have been taken since Jan. 11.
• On a 7-day basis, realized profit has been the highest since April 2022, amounting to over $125M.

As Bitcoin continues on its upward trend, investors have been taking the opportunity to lock in profits. Since Jan. 11, Bitcoin’s price has surged from $17,000 to $21,000 – an increase of 24%. This surge in value has allowed investors to take the opportunity to take profits, with over $2B in realized profits being taken since Jan. 11.

On Jan. 17, investors took the opportunity to lock in the most amount of profit since April 2022, with over $400M in realized profit being taken on the day. This is the highest amount of profit locked in on a 7-day basis since April 2022, amounting to over $125M.

Net Realized Profit/Loss is the net profit or loss of all moved coins and is defined by the difference between Realized Profit – Realized Loss. This surge in profits has been attributed to the increase in Bitcoin’s price, as investors have been taking the opportunity to lock in profits while the price is still high.

The surge in profits has also been attributed to the concurrent buying of Bitcoin and Ethereum in the EU, US, and Asia, which has broken the 6-month trend. This has led to an increase in mining profitability, with the hash rate reaching a new peak.

This surge in profits is a positive sign for the cryptocurrency market and could be indicative of further gains in the near future. As investors continue to take advantage of the current market conditions, they could see even more profits in the future.

• Hong Kong-registered crypto exchange Bitzlato and its founder Anatoly Legkodymov were seized by French authorities, Europol, and authorities in Spain, Portugal, and Cyprus.
• Legkodymov was arrested in Miami and charged with allegedly running an unregistered money-transmitting business and facilitating illicit fund transmissions.
• The U.S. DOJ, U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN), and the National Cryptocurrency Enforcement Team (NCET) are taking concurrent enforcement actions against the exchange.

The crypto world was rocked by news of Hong Kong-registered crypto exchange Bitzlato and its founder Anatoly Legkodymov being seized by French authorities, Europol, and authorities in Spain, Portugal, and Cyprus. On Wednesday, Legkodymov was arrested in Miami and charged with allegedly running an unregistered money-transmitting business and facilitating illicit fund transmissions.

The U.S. Department of Justice (DOJ), the U.S. Treasury’s Financial Crimes Enforcement Network (FinCEN), and the National Cryptocurrency Enforcement Team (NCET) have taken concurrent enforcement actions against the exchange. Legkodymov could face a maximum jail time of five years if convicted. He is scheduled to be arraigned at the U.S. District Court for the Southern District of Florida on January 18.

Bitzlato was the second-largest crypto transactions counterparty for users of Hydra, the darknet marketplace shut down last year. It is alleged that it processed hundreds of millions of dollars in Bitcoin and other virtual currency transactions for Hydra customers. It is also believed that Legkodymov used Bitzlato to launder the proceeds of criminal activity.

The DOJ’s Deputy Attorney General Monaco said in a press conference: “Today’s actions send a clear message: whether you break our laws from China or Europe—or abuse our financial system from a tropical island—you can expect to face justice.” She added that the investigation is ongoing and that other individuals and entities involved in the alleged money laundering scheme may still face charges.

The crypto industry was already under the microscope due to its potential for money laundering and other crimes. This latest development serves to further highlight the importance of proper regulation and enforcement of anti-money laundering laws within the crypto space. It is hoped that this case will serve as a warning to all those involved in illicit activities in the crypto world and encourage greater compliance with existing regulations.

• Robinhood announced it will delist Craig Wright’s Bitcoin SV (BSV) on Jan. 25.
• Any BSV held on the platform will be sold at market value and credited to customers‘ Robinhood buying power.
• Hawaiian, Nevada, and New York investors have limited capabilities to trade BSV.

Robinhood, the popular stock and crypto trading app, recently announced that it will be delisting Craig Wright’s Bitcoin SV (BSV) on January 25th. This decision comes as a part of Robinhood’s routine review of its crypto products and means that BSV will continue to be tradeable on the app until the deadline. However, the Robinhood spokesperson stated that investors residing in Hawaii, Nevada, and New York have limited capabilities to trade BSV.

The spokesperson further stated that any BSV held on the platform by customers after the deadline will be „sold at market value and credited to their Robinhood buying power.“ This means that Robinhood will be selling any BSV held on the platform after the deadline and crediting the funds to the users‘ buying power.

The price of BSV opened on January 11th at $44.95 but has since fallen by 16.97% to $37.29 at press time. Bitcoin is also experiencing a ‚red day‘ with the flagship crypto dropping 0.91%. However, the price decline for Bitcoin is still well above the $17,000 mark as the retracement failed to mirror the losses of BSV.

Bitcoin SV is a hard fork of Bitcoin Cash (BCH) which was created in November 2018. The hard fork was initiated by Bitcoin Cash pioneer and self-proclaimed Satoshi Nakamoto Craig Wright. The hard fork was intended to bring back the original Bitcoin protocol and was met with mixed reactions from the crypto space.

The decision to delist BSV comes as a surprise to many in the crypto community, especially since the hard fork was intended to bring back the original Bitcoin protocol. However, the Robinhood spokesperson stated that the decision was part of their regular review process and that all of their customers‘ crypto remains safe on Robinhood.

Overall, Robinhood’s decision to delist Bitcoin SV has caused some controversy amongst the crypto community. The platform will be selling any BSV held on the platform after the deadline at market value and crediting the funds to the users‘ buying power. In addition, investors residing in Hawaii, Nevada, and New York have limited capabilities to trade BSV on the app. Despite this, the Robinhood spokesperson stated that all of their customers‘ crypto remains safe on the platform.

• Bitcoin (BTC) broke past $17,000 over the weekend and has been trading with low volatility through the first 10 days of 2021.
• BTC’s 30-day volatility has sunk to June 2020 levels and its 5-day volatility has fallen below that of gold, the dollar strength index, Nasdaq, and the S&P 500.
• This relative volatility compression in BTC has already sustained for 4 days, setting a record, as per Arcane data.

The price of Bitcoin (BTC) broke past $17,000 over the weekend, signaling a potential return to bullish sentiment. However, the market has been trading relatively flat with low volatility through the first 10 days of 2021, which is typical during a bear market. This stability is reflected by the tranquility in the derivatives market, driven by lower trading activity and indicating a reduction in speculative demand for the largest cryptocurrency by market cap, according to an Arcane Research report.

The report noted that BTC’s 30-day volatility has sunk to June 2020 levels, and its 5-day volatility has fallen below that of gold, the dollar strength index, Nasdaq, and the S&P 500. This phenomenon, referred to as „relative volatility compression,“ has only occurred five times in the past. Historically, these events only lasted for 1-2 days, but the current event has already sustained for 4 days, setting a record, as per Arcane data.

While the relative volatility compression could mean a potential short-term upside for BTC, it is still too early to determine whether this event will lead to a sustained bull market in the long-term. Arcane cautioned that the current event is unusual and that the market will likely see some volatility in the near future.

In the meantime, Bitcoin continues to be used as a store of value by investors and institutions, with the digital asset being adopted by companies such as PayPal, Square, and various banks. This continued adoption is likely to keep BTC’s price relatively stable and could even lead to a sustained bull market in the long-term. With BTC’s volatility reaching levels not seen since June 2020, investors may be wise to keep an eye on the cryptocurrency over the coming weeks.

• Genesis interim CEO Derar Islim pleaded for more time to sort the financial situation of its lending arm.
• In November 2022, Genesis halted withdrawals due to FTX’s collapse, affecting $900 million in client funds.
• Gemini co-founder Cameron Winklevoss gave DCG’s CEO Barry Silbert a Jan. 8 deadline to resolve the issues.

Genesis, a lending arm of parent company Digital Currency Group (DCG), is currently in the midst of a complex process to sort out its financial situation. The firm’s interim CEO, Derar Islim, has pleaded for more time to ensure the best outcome for all affected clients.

The difficulties began in November 2022 when the firm halted withdrawals due to the collapse of FTX, affecting $900 million in client funds. This move has caused a stir among those affected, with some filing a class action lawsuit and Gemini co-founder Cameron Winklevoss giving DCG’s CEO Barry Silbert a Jan. 8 deadline to resolve the issues.

Since then, Genesis has been working with its advisors, as well as DCG and advisors appointed by various client groups, to evaluate options to preserve client assets and move the business forward. Islim has stressed the firm’s commitment to finding a solution, saying that it will take some additional time.

The financial well-being of the firm has come under scrutiny, with speculation that bankruptcy might be the only way to survive the situation. However, Genesis is adamant that it will find a way out of this difficult period. Islim’s plea for more time gives the firm a chance to do just that, and the firm remains focused on reaching the best outcome for all clients.

• HiFi Finance and Crown Ribbon are working together to bring horse syndicates onto the blockchain and offer token holders a unique, SEC-compliant security that pays dividends.
• Tokenization of real-world assets allows a broader audience to invest and gain financial exposure to experiences such as horse ownership and can also serve as a growth tool for syndicates.
• The goal of this partnership is to provide liquidity to syndicate owners and disrupt the performance horse industry.

HiFi Finance and Crown Ribbon are working together to revolutionize the way real world assets, specifically horse syndicates, are valued and traded. HiFi Finance is a decentralized lending and borrowing protocol that provides fixed-rate loans. Crown Ribbon provides legal guidance and assistance with filing exemptions with the SEC, acts as custodian for the ownership papers of the horses, and handles the issuance and audit of digital assets. The goal of this partnership is to provide liquidity to syndicate owners and disrupt the performance horse industry.

Tokenization of real-world assets allows a broader audience to invest and gain financial exposure to experiences such as horse ownership and can also serve as a growth tool for syndicates. By tokenizing horse syndicates, investors will have the opportunity to purchase fractional ownership of a horse, as opposed to full ownership. This will allow for a greater level of diversification and risk management. Additionally, it will provide greater liquidity to syndicate owners, allowing them to sell their stakes more easily.

Crown Ribbon also offers widgets and ACH payments to make the user experience more accessible for those who may not be technologically savvy. This partnership with HiFi Finance is a step towards furthering the development of the DeFi space and will lead to more real-world asset tokenization. By making these assets more accessible, it will open up new avenues for investors and help reduce the cost of ownership. This could potentially revolutionize the performance horse industry by making it easier and more cost-effective to invest in horse syndicates.