Ripple in the death spiral – Coinbase stops trading in XRP

Ripple faces a potential disaster with XRP. Since the SEC announced that it would take action against Ripple, many of the company’s partners have dropped out, distanced themselves from XRP and partially withdrawn from the stock exchanges.

The SEC has brought proceedings against Profit Revolution and its initiators, Chris Larsen and Brad Garlinghouse, of selling an unregistered security and manipulating the market. This is no less than $ 1.3 billion.

Ripple and XRP are at the fore

The official SEC announcement has spread like wildfire in the community. As a result, the XRP price collapsed extremely and there is no end in sight. Since the peak at the end of November, the ripple price has plummeted by more than 70%. In the Bitcoin exchange pair even by more than 80%.

The sharp slump was mainly associated with various exchanges that have removed XRP from the program for certain regions or entirely. Yesterday, the largest American exchange – Coinbase – also announced that it would stop trading XRP for the time being . As a result, the ripple price collapsed even further.

It is currently not yet clear what will happen to Ripple and the two initiators. It may well be that a large fine has to be paid but XRP is not classified as a security.

On the other hand, there is still the risk that XRP will be classified as a security after all. Such a decision would not only be dramatic for the further price development, but also for Ripple itself. Because the company still lives from the regular sales of its own XRP. This would turn the SEC Ripple off the money.

Ripple about to end?

The XRP Ledger runs relatively independently of Ripple itself, but without the company behind it, with the various software solutions where XRP is used, the XRP Ledger will die in the long term or at least become more and more irrelevant.

Without Ripple and all the partners there is no need for a bridge currency that is highly volatile, depends on the Bitcoin rate, is largely in the hands of a company and was created at the push of a button. We already have more than enough of such cryptocurrencies and none of them represent a revolution or the like.

The dream of a global means of payment or a bridge currency for international payments is currently off the table. There is little hope that the tide will turn for Ripple anytime soon.

In addition, one of Ripple’s most important partners – MoneyGram – has distanced itself from Ripple and XRP .

At the moment one can only wait and warn all investors. There is currently little hope of a swift recovery. The process could take weeks or months and drive the price down further and further.

As always, we will keep you up to date and inform you immediately as soon as there is anything new in relation to the process.

Cryptoworld this week: „Santa Claus Rally,“ SEC vs. Ripple, and Ledger user data

At the end of the week, we summarize what we’ve been writing about these past seven days and gather everything relevant to fans of cryptocurrencies and decentralized technologies. This week bitcoin set a new all-time high at above $28,000, the SEC accused Ripple of unregistered sales of $1.3 billion worth of securities, and personal data of Ledger hardware wallet users was leaked online.

Opinions

Pantera Capital CEO Dan Morehead said on CNBC that bitcoin’s limited supply acts as a key driver of the cryptocurrency’s rise in value.

According to Anatoly Aksakov, head of the State Duma Committee on Financial Market, a surge of cryptocurrency business activity is expected in Russia. This will happen already next year after the entry into force of the law on the so-called digital assets.

Last fall, Chairman of the Board of Directors of Alfa-Bank Petr Aven said that bitcoin and other digital currencies have no future. A year later, the head of Alfa Bank again accused the cryptocurrency of lack of security and confirmed his critical attitude towards this instrument.

According to Arkady Trachuk, head of Goznak, the digital ruble will be an excellent alternative to cash.

Many Russian experts are extremely skeptical about long-term prospects of bitcoin. For example, economists Vitaly Kalugin and Maxim Krivlevich believe that bitcoin’s collapse is inevitable because this instrument has no future.

While billionaire Mike Novogratz expects the new White House administration to be bitcoin-friendly, economist Nouriel Roubini, on the other hand, believes that Joe Biden will deal a blow to the cryptosphere.

Estimates

According to The Block, stackablecoin onchain transactions will surpass the $1 trillion mark in 2020. Etherium remains the most popular blockchain for stackablecoin and accounts for 83.5% of total volumes. It is followed by TRON and Omni with shares of about 14.5% and 2.1%, respectively.

According to the Santiment team, large holders of XRP (or so-called „whales“) are selling their tokens en masse.

MicroStrategy reported buying 29,646 bitcoins for about $650 million, bringing the company’s 2020 bitcoin investment to more than $1 billion.

Strategists at JPMorgan said the chances of a bitcoin correction would increase if Grayscale’s investment firm’s bitcoin secret trusts decline. Grayscale continues to ramp up its investments in digital currencies. The company has reached $16.4 billion in funds under management.

Bitcoin took the first place in the rating of gifts that Russian citizens would like to get for the New Year holidays. This conclusion was made by analysts of the project Hi-Tech Mail.ru, polling Internet users.

Swiss crypto-bank SEBA has completed its Series B financing round. The bank raised 20 million Swiss francs (~$22.5 million). The bank did not disclose investor names, but Dudler said that „all existing major shareholders and new shareholders“ from Switzerland, Europe and Asia participated in the round.

Anthony Scaramucci’s investment firm SkyBridge Capital filed with the U.S. Securities and Exchange Commission (SEC) on Dec. 21 to create the first $25 million bitcoin fund. The fund, called SkyBridge Bitcoin Fund L.P., will be open only to investors who are willing to invest at least $50,000.

Exchanges

Cryptocurrency exchange Bitstamp has restricted trading and deposits of XRP for all U.S. customers. Jump Trading and Galaxy Digital stopped trading XRP after the lawsuit was filed, and Bitwise, a crypto-asset management company, excluded the token from its index fund. Crypto exchanges OSL, CrossTower and Beaxy also stopped trading XRP.

The EXMO exchange reported a hack. As a result of the hack, $10.5 million in cryptocurrency was withdrawn from the hot wallets, which is about 5% of the exchange’s total assets. EXMO management claims that some of the cryptocurrency cannot be recovered because the criminals withdrew funds through Poloniex.

The Indian cryptocurrency exchange on Dec. 21 reported raising $13.9 million from Coinbase and Polychain. This is CoinDCX’s third funding round in 2020, raising a total of $19.4 million.

U.S. cryptocurrency exchange Coinbase named the first recipients of Crypto Community Fund grants.

Cryptocurrency exchange Binance added support for Segregated Witness (SegWit) for bitcoin deposits. Binance also announced the closure of the Binance Korea division for South Korean users.

Mining

U.S. mining company Riot Blockchain signed another contract with Bitmain to buy 15,000 miners. Riot Blockchain expects the new purchase to boost its overall bitcoin hash rate by 65%.

Following the ban on crypto mining in Abkhazia, local law enforcement agencies periodically report on the elimination of yet another underground mining farm. Over the past week 12 illegal farms were discovered and liquidated. A total of 3,783 pieces of equipment were stopped by law enforcers.

After months of power struggles, the co-founders of Chinese Bitmain mining company Jihan Wu and Micri Zhang reached an agreement. As part of the agreement, Jihan Wu will leave the company and receive $600 million in compensation, while Zhang will control the production of Antminer miners. Wu will also gain control of the BTC.com mining pool and Bitmain’s overseas mining centers. Zhang will retain the Antpool mining pool and Bitmain mining centers in China.

Mining pool F2Pool published a review of a new ASIC miner for the Ethash algorithm called Phoenix, developed by Chinese company Linzhi.

Regulation

The Bank of Russia does not plan to use the digital ruble in lending to individuals and legal entities. In addition, the regulator excludes the use of token in deposit products. Also, the Central Bank allowed the use of cryptoruble in smart contracts.

The digital ruble can be used internationally, primarily in the post-Soviet space. Uzbekistan and Tajikistan, for example, could use the innovative tool for cross-border movement of funds, said RANEPA expert Yegor Ivankov.

Token prices on the rise and a potential threat to the sector

DeFi: Token prices on the rise and a potential threat to the sector

The DeFi sector reports back and some tokens shoot up. Once again this week, a lot has happened in the up-and-coming Ethereum (ETH) industry and there were a few surprises.

Last week, the DeFi sector suffered significant setbacks. Many token courses plummeted and there were only a few winners. This week, things looked different. Sushiswap (SUSHI), Yearn.Finance (YFI), Compound (COMP) and Aave

Especially the „ETF token“ DeFi Pulse Index (DPI) was able to benefit from Crypto Investor this. The DPI token tracks the 11 largest DeFi projects and combines them in an index. It can thus serve as an indicator for the development of Decentralised Finance.

DeFi Pulse Index (DPI)Tokensets: DPI price

DPI rose by almost 20 per cent this week and is trading at $108 at the time of going to press. AAVE, YFI and COMP are largely responsible for the increase in the index token.

In addition, the total capital tied up in decentralised finance also developed positively.

According to DeFi Pulse, there are currently more than 14 billion US dollars in the emerging ethereum sector. This puts the decentralised finance industry at a record level.

Yearn.Finance cooperates with Sushiswap

The Yearn.Finance project, which became known in 2020, cooperates with the decentralised exchange (DEX) Sushiswap. The two projects intend to work on joint projects and Sushiswap is to help in particular with the development of the YFI project Deriswap. Deriswap is a DEX, which wants to unite different areas of the DeFi-Space in one and should enable among other things margin trading, swaps and much more.

Yearn.Finance has recently been on a massive expansion course. In recent weeks alone, the project has announced further collaborations with PickleFinance, CreamFinance, Cover and Akropolis. But especially the SUSHI course could benefit dramatically this week. In the last seven days, the SUSHI course rose by more than 40 percent.

Aave protocol starts V2 update

Meanwhile, Aave is introducing some new functions for the DeFi protocol, which should bring enormous added value to the entire Decentralized Finance sector. In the following we will take a look at the most important innovations.

Flash loans were the first undercollateralised loans to shake up the DeFi space, often with negative consequences for the inefficiency and errors of DeFi projects. One example of this is the DeFi project Harvest Finance, which lost almost US$ 24 million in a flash loan attack.

With the V2 update it should now be possible to use Flash Loans even easier. Originally four transactions were required for a Flash Loan, but the new update should make this possible in a single transaction, which dramatically reduces the cost of using a Flash Loan.

In addition, it is now possible to use Flash Loans with multiple tokens. As a result, users can now access the entire liquidity of a DeFi protocol. In the future, it can therefore be expected that the market efficiency can be further increased by the Flash Loan upgrade. Unfortunately, however, it is also to be feared that DeFi protocol gaps will be exploited even more radically and that inattention to smart contract programming will lead to even more fatal Flash Loan attacks, which will deprive the users of Decenralized Finance of their hard-earned money.

Alex Mashinsky: Ethereum could lose its leading role if it does not improve its scaling

The CEO of Celsius recognises that this is a very complicated issue, but he says it is crucial for the future of ETH

Ethereum 2.0 recently launched its Beacon Chain and completed the highly anticipated Phase 0, which has been announced for years. Although he has expressed confidence in Eth2, Celsius CEO and founder Alex Mashinsky believes the network could lose its leading role if it fails to scale quickly and significantly.

When we asked Mashinsky what he felt was the next hurdle that Eth2 would face, he responded:

„Ethereum must demonstrate that it can scale its transactions at least 100 times without compromising security or decentralisation. If he fails to do this, Cardano and Polkadot will take over“.

On Thursday, the Ethereum network processed around 13 transactions per second, according to Blockchair data: an increase of 100 times over now would be equivalent to around 1,300 transactions per second.

Ethereum has so far been the main blockchain for the development of decentralised applications: in addition, this year’s boom in decentralised finance took place mainly on Ethereum. This surge in activity has led to high traffic on the network, which has caused the cost of commissions to soar: a scalability problem that had also occurred on previous occasions.

With the transition of Ethereum 2.0 to a Proof-of-Stake Bitcoin Method consensus algorithm, we should see progress in terms of scalability. The co-founder of the protocol, Vitalik Buterin, stated earlier that in his opinion the network could process as many as 100,000 transactions per second.

However, the network update faced months of delays before reaching Phase 0 earlier this week. The founder of MyEtherWallet said that the next phases of Eth2 will take years to complete. Mashinsky did not give an accurate estimate of the time needed, but expressed his confidence in updating the network as a whole:

„I’m a big fan of ETH 2.0, although it will take longer than expected to scale and fix all the bugs.

Ethereum’s native token, Ether (ETH), is exchanged for around $590 at the time of publication of this article. Phase 0 required interested parties to deposit at least 32 ETHs each, for a total of 524,288 ETHs, in a smart contract for the launch of the Beacon Chain. As these ETHs have to remain locked in until Phase 2 is launched, which could be implemented in several years‘ time, doubts naturally arise as to how this will affect the price of ETHs.

For his part, Mashinsky believes that the value of Ether will grow:

„As more and more Ether are deposited on ETH 2.0 or used on different DeFi and CeFi platforms, scarcity combined with the need to join these platforms will push its price higher. Almost all decentralised exchanges work in ETH: this is a huge advantage for Ethereum“.
The completion of Phase 0 of Eth2 took place in the context of a fast growing crypto market: recently Bitcoin (BTC) reached and exceeded its all-time high.

Translated with www.DeepL.com/Translator (free version)

The big BTC-ECHO reader survey with prizes worth over 30,000 euros

2020 is an exciting crypto year behind us. Reason enough to record the status quo and close the year with a short reader survey. Our goal is to capture the mood for the latest trends and developments in the industry and thus to develop a comprehensive picture of the scene.

One of our guiding principles at BTC-ECHO is: Without the community, everything is nothing. With this in mind, we would like to create an opinion barometer on the crypto-economy. For this purpose, we have designed a reader survey that covers the most important Bitcoin Bank. But don’t worry: the survey will take no more than five minutes and great prizes will be waiting for you at the end.

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Which aspects are decisive for you when buying cryptocurrencies? What do you pay attention to when storing your tokens? And what motivates you to use individual crypto services? Let us know for just five minutes of your time.

Result of the survey

You can take part until December 20th, 2020 11:59 p.m. We will then notify the winners of our numerous main prizes. But as already mentioned: Nobody who answers the survey to the end goes away empty-handed. Of course, we don’t want to withhold the results from you either, which is why there will be a detailed evaluation in January. There we will then aggregate, anonymize and respond graphically to the most important results. So much can be revealed: Crypto compass readers are informed of the most important results even without looking at our homepage.

Bitcoin sobe, Coinbase cai: interrupções do câmbio e indignação do comerciante

A Coinbase sofreu várias interrupções desde março, muitas vezes coincidindo com dias de negociação de Bitcoin voláteis.

A Coinbase parece ter um problema de capacidade

Os usuários têm apontado há anos que, quando o Bitcoin e outros ativos criptográficos são especialmente voláteis, a bolsa às vezes fica offline sem aviso prévio. Essas interrupções podem impedir os clientes de comprar ou vender seus ativos criptográficos e são geralmente vistas de forma desfavorável pelos comerciantes.

Entre março e novembro, a bolsa registrou nove problemas diferentes, levando a vários tipos de interrupções ou problemas de conectividade, embora o impacto direto sobre o cliente não seja claro em alguns casos. Os problemas variam aparentemente em seu grau de gravidade. A principal atualização de status postada pela Coinbase durante esse período é: “Coinbase.com está enfrentando problemas de conectividade.”

Quatro dessas ocorrências coincidiram com a ação volátil do preço do Bitcoin, de acordo com velas de preço de 30 minutos em TradingView.com

Em 29 de abril, a Coinbase relatou problemas de conectividade. Em uma atualização de seu status publicada posteriormente, Coinbase.com parecia ter sofrido problemas entre 10h00 e 12h30 PDT naquele dia. O preço do Bitcoin mudou 4,54% durante essa janela de tempo. Cointelegraph relatou anteriormente sobre as dificuldades de plataforma vistas naquele dia.

Em 9 de maio, a Coinbase notificou o público sobre outra dificuldade , afirmando novamente: “Coinbase.com está enfrentando problemas de conectividade”. Desta vez, o preço do Bitcoin mudou 15,26% entre 17h00 e 18h00 PDT – a janela de tempo mostrando dificuldades, com base no status, que também incluiu detalhes adicionados publicados vários dias depois.

A terceira instância correlacionada com a ação notável do preço do Bitcoin aconteceu em 1º de junho, quando a Coinbase mais uma vez notificou o público sobre problemas de conectividade. Este incidente aparentemente afetou os usuários em algum nível entre 16h00 e 17h00 PDT, período durante o qual o Bitcoin movimentou 6,94% no preço. Nos dias que se seguiram a este incidente em particular, alguns clientes da Coinbase deixaram a plataforma , a julgar pelas retiradas de Bitcoin e relatadas pela Cointelegraph em 9 de junho.

A Coinbase também sofreu outro problema de conectividade em 28 de julho entre 2h e 4h30 PDT, durante o qual o Bitcoin movimentou 3,82% no preço.

No entanto, nem todas as emissões da Coinbase coincidiram com os principais dias de oscilação dos preços do BTC. A Coinbase notificou o público sobre os problemas em 16 de novembro, afirmando : “O site e os aplicativos móveis não carregam.” O bitcoin mudou apenas cerca de 1,72% no preço durante a janela de tempo declarada dos problemas, embora tenha sido o suficiente para provocar mais indignação na comunidade comercial. Problemas de conectividade também ocorreram em 28 de maio , 17 de julho , 18 de agosto e 11 de novembro , durante os quais o Bitcoin movimentou menos de 3% no preço durante cada incidente.

Ethereum 2.0 Ready for Launch – The longed-for 524,000 ETH has been gathered!

A miracle happened – 20 days after its deployment, the Ethereum 2.0 depository agreement finally gathered all the ETH necessary for its launch. The money was raised in time to maintain the launch scheduled for December 1.

510,528 ETH in… 6 days!

All indicators are green for Ethereum 2.0. 20 days after the publication of the deposit agreement , all of the 524,288 ETH needed to launch Ethereum 2.0 have been gathered .

Although the first 2 weeks were rather quiet, the contract has seen exponential turnout for the last 6 days .

In this time, it was possible to raise 516,528 ETH , an increase of 505% . In total, the deposit contract currently has 626,144 ETH , which is 116,000 more than the required sum.

Participation in the contract remained timid until November 20, with only a hundred deposits recorded daily. It was from November 20 that things accelerated with 1,283 deposits recorded that day, then a record 5,539 deposits on November 23 .

The day of November 23 alone saw the equivalent of $ 92 million in ETH token deposits. This date coincides with the explosion in the price of ETH , which rose 33% in the space of a week .

The collection of deposits was completed on time. Indeed, the launch of Ethereum 2.0 on December 1 was only possible if the deposit contract had the necessary amount, 7 days before the launch, namely today Tuesday, November 24.

As a result, we can now say that the launch of phase 0 of Ethereum 2.0 will be on December 1

In fact, this date will mark the creation of the first block (genesis block) of the beacon chain . As a reminder, the beacon chain represents the backbone of Ethereum 2.0 and its mission is to ensure consensus and synchronization with the shards , which should arrive by 2021.

We will now have to take our troubles patiently until the beginning of December to fully appreciate Ethereum 2.0. Despite everything, this launch marks only the first step of a 3-phase deployment, which is expected to extend until 2022.

China Construction Bank prime de manière inattendue Bitcoin pour 3 milliards de dollars d’obligations

China Construction Bank , la deuxième banque mondiale en termes d’actifs, a annoncé un plan en plusieurs phases visant à lever 3 milliards de dollars grâce à la vente d’obligations pouvant être achetées avec Bitcoin et des dollars américains.

La marchandise, a récemment atteint plus de 16000 dollars par Bitcoin – un sommet que la demande croissante de la Chine l’a aidée à atteindre

La semaine dernière, la China Construction Bank a annoncé que 58 millions de dollars de certificats numériques seraient disponibles pour un abonnement public sur le Fusang Exchange, une bourse basée en Malaisie qui facilite le commerce des crypto-monnaies. Fusang a retardé l’inscription jusqu’à nouvel ordre, conformément à la demande de l’émetteur Longbond Ltd. La succursale Labuan de la China Construction Bank n’a pas pu être jointe pour commenter.

Déployer le yuan numérique

La Chine continue de réglementer étroitement Bitcoin et d’autres crypto-monnaies, alors même qu’elle commence le déploiement de son yuan numérique très attendu. D’autres pays envisagent également la possibilité de lancer leur propre monnaie numérique de banque centrale. La liste des gouvernements qui ont annoncé leurs plans est le Royaume-Uni, la Suisse, la Norvège, la Suède, le Danemark, l’Espagne, les Pays-Bas, la Lituanie, l’Allemagne, Israël, l’Iran, le Japon, la Corée du Sud, la Thaïlande, Singapour, l’Inde, le Canada, l’Afrique du Sud. , Australie, Nouvelle-Zélande, Uruguay, Îles Marshall et Bahamas.

Le prix est juste : Devinez le prix du bitcoin et gagnez 200 jetons USDT

Bienvenue à un autre cadeau CoinCodex ! Cette fois-ci, nous allons donner 200 jetons Tether USDT, 0,03% à la personne qui fournit la meilleure estimation du prix du Bitcoin BTC, 0,89% le 3 novembre 2020 à 12:00 PM PT.

Comment puis-je participer ?

Vous êtes un trader de bitcoin avisé ou vous vous sentez simplement chanceux ? Nous ne faisons pas de discrimination – vous pouvez essayer, à condition de suivre ces instructions.

1. Téléchargez l’application CoinCodex

Si vous souhaitez participer à notre dernier concours, la première étape consiste à télécharger l’application mobile Ethereum Code. L’application est 100% gratuite et disponible pour les plateformes iOS et Android.

2. Naviguez vers l’onglet „News“ à l’intérieur de l’application

Une fois que votre application CoinCodex est prête, rendez-vous dans la section „Actualités“.

3. Cliquez sur l’entrée „Giveaway

Maintenant, vous pouvez entrer le cadeau en allant sur le lien suivant :

4. Devinez le prix de Bitcoin

Maintenant, pour la partie amusante, entrez la valeur en USD que vous pensez que Bitcoin (BTC) aura le 3 novembre 2020 à 12:00 PM PT. L’utilisateur dont la supposition est la plus proche du prix réel gagnera 200 jetons USDT !

5. Parrainez vos amis et augmentez vos chances !

Si l’un de vos amis parrainés s’avère être l’utilisateur qui a fourni le meilleur pronostic, vous gagnerez tous les deux 200 jetons USDT – votre ami pour avoir deviné correctement et vous pour l’avoir parrainé !

Quel est le prix ?

Celui qui devinera le prix le plus proche du prix réel du Bitcoin (BTC) le 3 novembre 2020 à 12:00 PM PT en USD gagnera 200 jetons USDT. Si un ami que vous avez parrainé est le gagnant, vous recevrez tous les deux 200 jetons USDT !

Règles de jeu

Les règles du concours sont assez simples. Voici ce que vous devez savoir.

Calendrier du concours :

Les soumissions sont ouvertes : 29 octobre 2020 à 10 h 00 PT
Les soumissions se terminent : 31 octobre 2020 à 15h00 PT
Annonce des gagnants et distribution des prix : 3 novembre 2020 à 15h00 PT

Conditions générales

N’oubliez pas de lire et de respecter les conditions générales complètes du don qui se trouvent ici. Toute violation de ces conditions entraînera la disqualification du cadeau.

Ethereum’s hype climbs with the boom of Bitcoin and DeFi

The price of Ethereum is undervalued, still 72% lower than its record level.

Vitalik Buterin argues that Ethereum is a complete financial landscape, not just a store of value.

The launch of ETH 2.0 is on the horizon and could propel its price to new heights.

The Trust Project is an international consortium of media organizations based on transparency standards.

Last week, Crypto Bank received a lot of attention from the crypto industry. It has indeed reached a new record in 2020 thanks to the rise of PayPal, which now accepts payments in encrypted form. Ethereum has taken a small wave of this hype, but analysts believe it still has plenty of room to grow.

Ethereum has only managed to gain a little more than 4% since the opening of the week at 380$. It briefly hit the $400 mark on October 21, before a considerable pullback. Bitcoin, on the other hand, rose by more than $1,200 this week, breaking the $13,200 level to reach a new record in 2020.

Since the beginning of the year, however, ETH has surpassed the BTC by two. This steady growth is expected to continue next year as technical, fundamental and chain indicators strengthen.

In addition, Ethereum is still 72% below its peak, while Bitcoin is only 35% of its own record.

  • ETH Options BTC Surge
  • Ethereum gains momentum

Several factors that emerged in 2020 contribute to cement the idea that Ethereum is a complete financial ecosystem in itself, and not just a value reserve or a hedge against failing fiduciary currencies.

Ethereum’s founder, Vitalik Buterin, recently suggested that the asset should no longer be called „altcoin,“ as it simply does much more today than it did five years ago :

In simple language, I hope everyone can understand:

In 2020, to continue to refer to ethereum as an „alt“ is as outdated as referring to a lambo as a „horse-less carriage“.

According to DeFi Pulse, there are currently a record 9 million ETH locked in DeFi protocols. This represents 8% of the total offer, and a growth of more than 200% since the beginning of the year:
Eth on Defi

ETH locked in the DeFi – DeFi Pulse

ETH is used and invested to generate more ETH and earn rewards in other crypto assets. Most of the bitcoins are kept in cold storage, but the amount of tokenized BTCs on Ethereum has also reached record amounts this year.

Institutional investment funds such as Grayscale Investments also filled up on ETH, which were largely considered undervalued. Industry observers have been watching this „perfect tornado“ that could push Ethereum’s prices much higher before the end of 2020.