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Will Shapella Update Affect Ethereum Price? Analysis Sheds Positive Light | Bitcoinist.com – Bitcoinist

The upcoming Ethereum upgrade, called Shapella, scheduled for April 12, has raised many questions in the cryptocurrency community about what it might mean for the second-largest cryptocurrency. There have been suggestions that this update which will enable validators to withdraw their staked ethers (ETH), would negatively impact the coins price.

According to speculations, if holders decide to sell their cryptocurrency holdings for profit, it could lead to a decrease in market demand and a subsequent drop in the prices of Ethereum.

However, despite this potential outcome, CryptoQuant, a company specializing in data analysis, has allayed fears, saying that the selling pressure may not be significant. The company argues that based on its profit and loss analysis, there is likely to be minimal selling pressure on ETH resulting from staking withdrawals after the upgrade.

The company predicts there wont be significant selling pressure because most ETH staked (9.4 million ETH, equivalent to 52% of the total) is currently at a loss. On the other hand, the company notes that the average depositor in the largest pools is also experiencing losses.

Related Reading: Dogecoin Decline Not A Deterrent As Majority Of DOGE Holders Remain In Profit

In this context, its unlikely that these market participants would sell their ETH at the current price and make a profit or recover their entire investment. This is because they invested in these activities when the cryptocurrency was trading at a higher value than it is currently. According to CoinMarketCap, the current price of ETH is around $1,800.

Furthermore, the company highlights that staked ETH, which is currently in profit, is generating a yield of up to 30% or less, which they consider relatively low compared to the significant profits that the Ethereum market can sometimes provide through its price volatility.

Based on this, CryptoQuant emphasizes that selling pressure arises when market participants make extreme profits, which is not currently true for staked ETH. This means there may not be a significant drop in ETHs price due to the Shapella update.

Related Reading: Bullish On Ethereum, Survey Shows Community Predicts New All-Time High In 2023

On Wednesday, April 5, 2023, the price of ether (ETH), the cryptocurrency of the Ethereum network, rose above $1,900, a level it had not reached in 8 months. The last time ETH hit this price point was August 15, 2022. In contrast, Bitcoin (BTC), the leading cryptocurrency in the market, has not seen a similar increase. According to TradingView, BTCs price briefly touched $29,000 twice during the last two weeks of March 2023.

The fact that ETH is experiencing an increase while BTC does not suggests that the current price increase of ETH is not driven by BTCs movement, which is typically the case. Instead, it is driven by the internal Ethereum market. According to analyst Miles Deutscher, this is because investors are showing interest in ETH in anticipation of the upcoming Shanghai (Shapella) update.

Shapella represents a significant change that Ethereum will implement on its network on April 12, enabling the withdrawal of staked funds. Therefore, the anticipation of this event may have contributed to the recent increase in the price of ETH. Furthermore, various players in the industry, including Binance US and Huobi exchanges, have taken the initiative to remind the public about the upcoming update this week.

Featured image from istock.com, chart from Tradingview.com.

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Will Shapella Update Affect Ethereum Price? Analysis Sheds Positive Light | Bitcoinist.com - Bitcoinist

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What to Expect from Ethereum’s Shapella Fork: Insights from ITB’s Head of Research – CryptoGlobe

Lucas Outumuro, Head of Research at crypto analytics startup IntoTheBlocks (ITB), recently published a blog post titled Estimating the Impact of Ethereums Shapella Upgrade, in which he analyzes the short to medium-term effects of the upcoming $ETH unlocks. In his post, Outumuro breaks down the dynamics of the Shapella fork, the likely outcomes for different industry players, and its implications for the Ethereum network and its native asset.

Outumuro explains that the Shapella fork, set for April 12, 2023, marks the culmination of Ethereums transition to proof of stake (PoS), with validators able to begin the process of withdrawing over $34 billion in staked funds. He acknowledges the uncertainty and lack of understanding surrounding these withdrawals and aims to shed light on the process.

The Shapella fork consists of two conjoined upgrades: Shanghai, which includes Ethereum Improvement Proposals (EIPs) related to the execution layer, and Capella, a major update to Ethereums consensus layer. The most notable EIP set to be implemented in Shapella is EIP-4895, which enables validators to start withdrawing their staked ETH in two categories: partial withdrawals (staking rewards only) and full withdrawals (initial deposits and profits).

Outumuro delves into the key actors in the staking industry and how the Shapella fork affects them. Liquid Staking Derivatives (LSDs), which currently make up over 35% of all ETH staked, are expected to see net inflows after Shapella due to their liquid nature and lack of exit queues. Unidentified validators, a heterogeneous group, are likely to withdraw some ETH but not necessarily sell it, as many may be long-term ETH believers.

American centralized exchanges (CEXs) like Coinbase and Kraken, which hold nearly 20% market share of ETH staked, are likely to experience the largest withdrawals following the Shapella fork due to government intervention. Some of their users may sell their assets, while others may withdraw the ETH and hold it or move it into LSDs.

Staking services, which manage validators on behalf of clients, are expected to conduct partial withdrawals to cover their operating costs, but full withdrawals are less likely. International crypto exchanges could see net inflows and some selling.

Outumuro suggests that the dynamics of the Shapella fork could lead to a reshuffling of market share between industry players. While withdrawals might decrease the amount of ETH staked in the days after Shapella, several factors could lead to an increase in the following weeks.

Coinbases Head of Staking predicts that the amount of ETH staked will follow a J-curve, declining before climbing. This is due to the elimination of technical and economic risks associated with staking after the Shapella fork. Outumuro also notes that the percentage of ETH supply staked is significantly smaller compared to other PoS chains, which could change after the fork.

As the risks associated with staking are reduced, retail and institutional investors might be more inclined to stake their ETH. This could lead to an increase in the amount of ETH staked over time, potentially reaching 25%-30% within a year, making the Ethereum network more secure and reducing the available ETH supply to be sold.

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What to Expect from Ethereum's Shapella Fork: Insights from ITB's Head of Research - CryptoGlobe

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What’s a Better Buy: Bitcoin or Ethereum? – The Motley Fool

The debate between Bitcoin (BTC 0.07%) and Ethereum (ETH -0.55%) as a better investment has been a hot topic in the cryptocurrency community for years. Both are popular and established cryptocurrencies, but there are key differences between them that make Bitcoin a better investment. The reason for this belief can be boiled down to three simple reasons.

Image source: Getty Images.

Market capitalization, or "market cap," refers to the total value of a company or asset. In the case of cryptocurrencies, it is calculated by multiplying the total number of coins in circulation by the current market price of each coin. As of April 1, 2023, Bitcoin has a market cap of over $545 billion, while Ethereum's market cap is just under $220 billion.

Essentially what this means is that Bitcoin is currently a more established asset than Ethereum and makes up a disproportionate amount of value in the entire crypto asset class. As of today, Bitcoin accounts for more than 45% of all the value in crypto.

Its higher market cap indicates that it has more adoption and more trust among investors. Additionally, it suggests that Bitcoin is less volatile than Ethereum, as it would take a larger amount of money to move its price significantly.

One of the most significant differences between Bitcoin and Ethereum is their supply. Bitcoin has a hard cap of 21 million coins, which means that there will never be more than 21 million bitcoins in circulation. Currently, there are around 19.3 million circulating, with the remaining 1.7 million yet to be mined. Even better, though, these remaining 1.7 million bitcoins will be released at a diminishing rate for the next 117 years until the last bitcoin is mined.

Currently, Bitcoin's inflation rate is a minimal 1.7%. However, due to the gradual decrease in the rate of new coins being created, it is estimated that by 2056, this number will fall below 0.1%. By the year 2100, Bitcoin's inflation rate will be somewhere around 0.000001%. No matter the asset, an inflation rate this low helps to ensure that prices are not only maintained but grow as demand competes for a more limited supply.

Ethereum, on the other hand, has no hard cap. While it does have a mechanism known as burning to remove ether from circulation, there is, technically, no overall limit on the number of ether which could enter the market. Unlike Bitcoin, this means that Ethereum is subject to unknown levels of inflation, which can decrease the value of each individual coin over time.

Furthermore, Bitcoin has a stronger track record when it comes to security and decentralization. Bitcoin's blockchain is the most secure and decentralized of any cryptocurrency, with thousands of nodes and miners around the world helping to verify transactions and maintain the network. This makes it less susceptible to hacking or manipulation than Ethereum, which has had several high-profile security incidents in the past. Additionally, Bitcoin's decentralized nature means that it is not subject to the same level of centralization or regulation as Ethereum, which has been criticized for being too closely tied to its founders and developers.

In addition, Bitcoin has a more established and secure network than Ethereum. Bitcoin's network has been operating securely for well over a decade, and its underlying proof-of-work technology has proven to be reliable and resistant to attacks. Ethereum, on the other hand, has had some security issues in the past, including a major hack in 2016 that resulted in the loss of millions of dollars worth of ether. While Ethereum's security has improved over time, it still lags behind Bitcoin in terms of reliability and security.

While Ethereum might be deserving of a spot in your portfolio, Bitcoin provides investors with a safer and more dependable option. Likely the greatest advantage Bitcoin has over Ethereum is its simplicity. Bitcoin's value proposition is clear and easy to understand: it is a highly decentralized and secure digital store of value that provides holders with reliability.

Ethereum, on the other hand, has a more complex value proposition that is tied to its smart contract functionality and decentralized applications. While this complexity can be appealing to some investors, it also makes Ethereum more difficult to understand and evaluate as an investment, as many of these use cases are in their beginning stages.

For investors looking to keep it simple and wanting to invest in cryptocurrency, look no further than the original digital asset, Bitcoin.

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What's a Better Buy: Bitcoin or Ethereum? - The Motley Fool

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Ethereum Volatility Likely on the Horizon as Options Expire – BeInCrypto

A large amount of Bitcoin and Ethereum options contracts are about to expire. Moreover, these events often cause price volatility for the underlying assets.

There has been a significant shift in derivatives trading activity, with Ethereum options trading surpassing that of Bitcoin.

37,000 Bitcoin options are about to expire with a notional value of just over $1 billion. However, this number is eclipsed by the 256,000 Ethereum options that will also expire this month. Their notional value is a whopping $4.8 billion.

Industry analyst Colin Wu commented on the massive shift in derivatives trading.

The Shanghai upgrade is coming, and the trading of Ethereum options has surpassed that of Bitcoin for the first time in more than a month.

Ethereum options are derivatives contracts that allow traders to speculate on the price of ETH. They allow traders to buy or sell Ethereum at a specific price, the strike price, at a certain date of expiry. They are also more flexible than futures which have fixed expiry dates.

According to Deribit, Ethereum Open Interest (OI) stands at almost 2.6 million open contracts that have yet to be settled.

Furthermore, there is a put/call ratio of 1.09 for Ethereum. The put/call ratio is calculated by dividing the number of traded put (short) options by the number of traded call (long) options contracts. A figure higher than 1 is bearish as more traders are buying short (sell) contracts than longs (buy).

The max pain point for Ethereum options is $1,800. This describes the strike price with the most open contracts. It is also the price at which the asset would cause financial losses for the largest number of option holders at expiration.

For Bitcoin options, things are looking a little more bullish with a put/call ratio of 0.51. This suggests there are more long contracts being bought than short contracts.

Additionally, the BTC max pain price is $28,000, pretty close to where the asset is trading at the moment.

Crypto markets have remained flat on the day, with total capitalization hovering around $1.2 trillion. Furthermore, there has been very little movement in the crypto top ten aside from Dogecoin (DOGE), which has dumped 8.6% following Elon Musks Twitter meddling.

Ethereum is currently changing hands for $1,870, cooling from its mid-week and a seven-month high of $1,920.

Further downward pressure could be piled on when all those Ethereum options contracts start expiring this month.

In line with the Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. BeInCrypto is committed to accurate, unbiased reporting, but market conditions are subject to change without notice. Always conduct your own research and consult with a professional before making any financial decisions.

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Ethereum Volatility Likely on the Horizon as Options Expire - BeInCrypto

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Crypto Industry Veterans Say Bitcoin (BTC) and Ethereum (ETH) Coiling Up for Breakouts – The Daily Hodl

A venture capitalist who correctly called the 2022 crypto bottom thinks both Bitcoin (BTC) and Ethereum (ETH) are coiling up for a breakout.

Placeholder partner Chris Burniske tells his 257,800 Twitter followers that BTC and ETHs weekly charts are making him too bullish on crypto.

BTC & ETH coiling.

Fellow crypto veteran Raoul Pal, the chief executive of Real Vision, shares Burniskes bullish sentiment regarding Ethereum.

Tasty chart of ETHeventually the 1,850 level will go and it will be fireworks.

Ethereum is worth $1,868 at time of writing. The second-ranked crypto asset by market cap is up 3.74% in the past day and more than 5.1% in the past week.

Bitcoin is trading for $28,164 at time of writing. The top-ranked crypto asset by market cap is up 0.66% in the past 24 hours and nearly 3% in the past seven days.

Burniske said last month that he remains bullish on blockchain and crypto regardless of the macroeconomic landscape.

Im as long crypto as Ive ever been blockchains are critical infrastructure that provides solutions to the problems our society faces, including AI. As a species, we eventually find our way, though the walk is full of sticks and stones. If you look up, there are blue skies.

He also predicted that Bitcoinwould exceed $30,000 and Ethereum would surpass $2,000 in April.

Generated Image: Midjourney

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Crypto Industry Veterans Say Bitcoin (BTC) and Ethereum (ETH) Coiling Up for Breakouts - The Daily Hodl

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BNB Chain outshines Ethereums L1 but Shapella reveals that – AMBCrypto News

The BNB Chain rose to prominence as an alternative to Ethereums [ETH] Layer One (L1) blockchain. Although the growth was not without challenges, the chain backed by crypto exchange Binance has been able to cut a significant part of the market share.

How much are 1,10,100 BNBs worth today?

Among both blockchains, Ethereum is the one that has been around longer. But according to Token Terminal, daily active users on the BNB Chain were also three times that of Ethereum. The metric measures users that interact with a protocol during a designated time interval.

While Ethereums active users were around 435,200, BNB Chains outpaced it with a record of 1.2 million. Although the Ethereum L1 blockchain is less centralized than BNB, this rise implied that users would rather opt for the network with faster transactions and cheaper fees.

However, BNB Chains dominance in the aforementioned aspect did not translate to supremacy in every other area. Based on the data from the blockchain financial aggregator, the trading volume of tokens on the Ethereum blockchain was far above those registered on the BNB Chain.

As of 6 April, the volume on the BNB Chain was $601.1 million while Ethereums volume was over $11 billion. This large spread means that there have been more tokens traded via the Ethereum network than BNBs.

Moreover, it seemed that the overall Ethereum ecosystem was hand down beating BNB apart from the user count. According to Santiment, Ethereums development activity witnessed a rise and stood at 51.21. The metric tracks the work done in a projects public GitHub repositories, signaling upgrades on the projects network.

The Ethereum rise in this regard came as no surprise. Lately, the blockchain had passed the Sepolia and Goerli Testnets, as the Shanghai upgrade aimed at enabling staking withdrawals is only days away.

For BNB, it was an entirely different situation. At the time of writing, the chains development activity was flat out at 0.048. This suggested that developers were not actively contributing, despite its recent announcement to improve the chains security.

Realistic or not, heres BNBs market cap in ETHs terms

However, several large ETH transactions have been making rounds with whale accumulating, and some moving into exchanges. According to Lookonchain, a whale who held 900ETH in Tornado Cash address sent all of it into a Bitfinex wallet on 5 April.

There was another whale who has been accumulating the altcoin since 15 January. As of 6 April, this same whale added another $2.4 million bought from Binance, to his bag.

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BNB Chain outshines Ethereums L1 but Shapella reveals that - AMBCrypto News

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Bitcoin, Ethereum, Signuptoken.com: Top 3 Coins to Consider As … – Analytics Insight

Paris has recently made its move to become the next big crypto hub, even after the closure of several crypto-friendly banks and the failure of the FTX. The French government has been showing support for the crypto industry and blockchain technology, with President Emmanuel Macron seeing cryptocurrency as one way to attract businesses. This could have a huge effect on the big crypto names on the market, such as Bitcoin (BTC) and Ethereum (ETH), as well as tokens that have yet to launch on an exchange and are still making a name for themselves, like Signuptoken.com.

Signuptoken.com is a new project that aims to create generational wealth through the simplest idea possible registering a single email that will help subscribers retire early. The project has set a goal of reaching one million email subscriptions before launching its token on Uniswap.

As of this writing, Signuptoken.com has accumulated 3,000 email subscribers, which is one step closer to the projects goal.

Subscribers will be updated on the projects progress through email updates. Once the one million email subscription target is reached, the team will send out a single email announcing the launch of the ERC-20 token. The project is attempting something that has not been achieved on a global scale before.

The team behind Signuptoken.com will send out a verification email to confirm all users added are genuine, ensuring the validity of the projects one million email subscription goal. The team has not doxxed their identities and will not be providing tokenomics about the crypto coin.

Bitcoin is the biggest crypto coin on the market, and many establishments have started accepting it as a payment method. In Paris, Burger King has made a bold move by introducing power bank rental machines called Instpower, which accept crypto payments, like BTC. Instpower machines are connected to Binance Pay and Alchemy Pay.

This move by Burger King in Paris is part of a larger trend of companies embracing cryptocurrency payments, demonstrating the growing acceptance and legitimacy of digital currencies. With the rise of crypto and the growing demand for alternative payment methods, it is likely that more businesses will follow suit and start accepting cryptocurrency payments in the near future.

One famous crypto analyst Justin Bennett has his financial speculation about Ethereum facing a rally en route to liquidating traders facing bearish action on ETHs platform. According to Bennett, the rally at the end of March could hint at the crypto markets short-term performance.

Usually, the crypto market is affected by stock market trends, but a lag seems to appear between the two asset classes. If the crypto market takes cues from equities, a resistance level at $1,840 for Ethereum is possible. Therefore, a short squeeze could occurwhich triggers ralliesas there is a huge amount of short liquidations over the $2,000 price level.

There could be a possibility that Ethereum would become one of the major crypto coins that Paris would accept for buying and selling goods.

As Paris embraces crypto and recognizes its benefits and potential as an alternative to traditional forms of currency, many other countries may follow suit. While crypto has risks due to economic conditions and market volatility, embracing this investment as part of the future of finance can help everyone adapt to the changing landscape of the digital economy.

Signuptoken.com might be the next big crypto coin to launch on an exchange! Learn more about this unique crypto project and sign up to reap the early benefits when the coin launches.

Website: https://www.signuptoken.com

Twitter: https://twitter.com/_SignUpToken_

Telegram: https://t.me/SignUpToken

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Crypto markets bleed as AnubisDAOs $5.5 million worth of stolen Ethereum (ETH) on the move – FXStreet

Roughly 3,000 Ethereum (ETH) worth $5.5 million at current market prices were moved to a popular mixer - Tornado Cash.

AnubisDAO rugged investors money to the tune of $60 million in late October 2021. The supposed canine-themed crypto was to ride the success of Dogecoin and other dog-themed cryptocurrencies and was also touted as a fork of OlypumsDAO. However, investors were in disbelief when their money was moved to a different address.

Rugging or rug pull is a scam in which bad actors lure investors with promises of the next big project and get away with their money.

AnubisDAO rugged its investors millions of dollars in October 2021, and the early participants are still not made whole. But the attacker moved 3000 ETH to Tornado Cash, which is a mixer used by participants to hide their money trail from on-chain sleuths.

The tool seems to be more popular with bad actors, who often use it to wash their stolen digital tokens.

PeckShield, a popular blockchain security and data analytics company, noted the movement of 3,000 stolen ETH on April 9.

According to Arkham Intel, the wallet of the AnubidDAO rugger still holds 7,000 ETH worth $13 million.

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Crypto markets bleed as AnubisDAOs $5.5 million worth of stolen Ethereum (ETH) on the move - FXStreet

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Ethereum, Arbitrum, and why L2 solutions are such a mess – Fortune

A hot topic in crypto circles these days is how to process more transactions on a blockchain, leading many pundits to say it cant be done in a decentralized fashion. This opinion is a popular one but also belies a superficial understanding of the problem with Ethereums scaling solutions in particulara problem that stems from the financing models driving these solutions.

For those unfamiliar with the debate, Ethereum and Bitcoin have for years struggled with congestion and high fees arising from their failure to keep up with demand on their blockchains. This has in turn created opportunities for projects offering on-top solutions as a means to handle that extra demand. The result is a plethora of so-called layer-2, or L2, sidechainsArbitrum, Optimism, and Polygon among themthat are intended to increase transaction capacity while keeping the chain orderly.

In the Bitcoin network, these efforts have largely focused around Lightning, a system of secured peer-to-peer channels that allow for quick and cheap transactions. In the case of Ethereum, developers have taken a more baroque approach that typically looks like this: A technical team claims to have a novel solution to scale Ethereum by capturing transactions on their network, and that idea is pitched to venture capitalists. But instead of integrating this software directly into the main protocol, so Ethereum as a network can scale, a new tokenan L2 tokenis issued to transact using this new software.

Does this have to happen? Well, no. Strictly speaking, there is nothing stopping Ethereum leadership from incorporating scaling solutions at the protocol level to lower its costs and make the network more efficient. But instead of working to make the scaling happen directly, the Ethereum crowd has instead relied on the L2 route. (Its worth noting that Tezos, the blockchain I cofounded, recently deployed an L2 solution without introducing a token.)

While L2 solutions on Ethereum have succeeded in offering faster and cheaper transactions, their insistence on adding their own proprietary tokens add friction. To make matters worse, the L2 projects often rush to market with underdeveloped solutions, creating a reliance upon Ethereum contracts under their control and centralized oversight to address security issues later. While this tokenized approach funds development and generates hype, it quickly leads to disillusionment as inflated token market capitalizations fail to meet expectations.

So why does Ethereum continue to embrace these half-baked L2 solutions? Look no further than Sand Hill Road.

Traditionally, venture capitalists offer financing for new businessesthe word venture connoting newer, riskier investments, unlike those perhaps preferred by other private equity firms. VCs typically look to exit their positions through IPOs or acquisitions, often on five- or seven-year time horizons.

If VCs had a chance speed up their exitsthe big moment everyone gets paidto an order of months, you can bet they would leap on it. And so enter a new model facilitated by crypto.

In Crypto VC speak, exit strategies dont come from the creation of a useful, flourishing business. Since 2018 or so, VCs have acted as providers of bridge capital to teams until a token is created and sold. Its about short-term storytelling because, ultimately, the value of the token isnt defensible. Often, its a solution in search of a problem or, in the case of scaling, a source of additional friction. The last two months have served as testament to the instability of L2 tokens for a variety of business reasons.

Last month, Coinbase announced it was launching an L2 solution based on Optimism. This was poetic: Optimism already has an unnecessary token and a staking mechanism for its distribution. Unfortunately, it lacks fraud proofs, or the basic security ingredient that makes a scaling solution more secure than a hope and a prayer. What we have here is a token in search of its own technology.

More recently, Arbitrum, an L2 on Ethereum thats raised over $100 million from VCs such as Lightspeed, issued a governance token called ARB to justify its place outside the base Ethereum protocol. As part of its first governing act, the community was asked to vote on a proposal that would send 750 million of its tokens, worth around $1 billion, to its nonprofit foundation. When rank-and-file community members balked at this plan, the Arbitrum Foundation clarified that these funds were already being allocatedand, indeed, had been spent. It was a lucky day for those folks who gave them money last year in a private transaction, and virtually nobody else who bought into the gold-plated resumes of its founding team and the characterizations of their project.

Quite the arbitrage, indeed.

Scaling solutions that create more costs and hoops to jump through for users by issuing pernicious tokens arent solutions at all. Ethereum will evolve once it weens off venture capitalists and embraces a model that seeks to disintermediate, rather than subsidize, the well-heeled financiers of Web2.

Kathleen Breitmanis a cofounder ofTezos. The opinions expressed in Fortune.com commentary pieces are solely the views of their authors and do not necessarily reflect the opinions and beliefs ofFortune.

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Big whale groups that hold just Bitcoin (BTC) and Ethereum (ETH … – Analytics Insight

RenQ Finance (RENQ) is a relatively new decentralized finance (DeFi) protocol that is rapidly gaining traction in the crypto space. One of the most interesting developments surrounding RenQ Finance is the growing number of big whale groups that are beginning to accumulate RENQ tokens alongside their Bitcoin (BTC) and Ethereum (ETH) holdings.

In this article, we will take a closer look at why these big whale groups are interested in RenQ Finance, as well as what it means for the future of the project.

RenQ Finance is a DeFi protocol built on the Ethereum blockchain that is designed to enable users to easily swap tokens, earn yields, and participate in liquidity pools. RenQ Finance is unique in that it supports a wide range of assets from different blockchains, allowing users to easily exchange between them. This feature is enabled by RenQs cross-chain bridge, which allows users to move assets from one blockchain to another seamlessly.

One of the key features of RenQ Finance is its multichain approach. The platform supports a range of blockchain networks, including Ethereum, Binance Smart Chain, Polygon, Terra, and more. This allows users to interact with the platform and its services using a variety of cryptocurrencies and blockchain networks, providing greater flexibility and accessibility for users.

RENQ is the native utility token of the RenQ Finance platform. It is used to pay for transaction fees, earn rewards through yield farming, and participate in governance through voting on proposals.

At its current presale stage, the RENQ token is being sold for $0.035 per token and has already raised over $5.2 million from investors. The fourth stage of the presale is 78% full and it would soon cross to stage five, which could potentially lead to a 100% increase in price.

There are several reasons why big whale groups are beginning to accumulate RenQ Finance tokens. First and foremost, RenQ Finance has been performing exceptionally well since its launch, with the price of RENQ tokens increasing steadily. This has caught the attention of many big whale groups who are looking for high-growth assets to add to their portfolios.

Additionally, RenQ Finance has a solid team and a well-designed protocol that has attracted a lot of attention from investors. The protocols cross-chain bridge is also a major selling point, as it enables users to move assets between blockchains without the need for a centralized intermediary. This is a huge advantage for DeFi users who want to maintain control over their assets.

Finally, RenQ Finance has a strong community of supporters who are actively promoting the protocol and driving adoption. This has helped to increase the visibility of the project and attract new investors.

The fact that big whale groups are beginning to accumulate RenQ Finance tokens is a strong signal that the project is gaining traction in the crypto space. This could lead to increased demand for RENQ tokens, a sooner launch date on its mainnet, and a further increase in the price of the asset.

Additionally, the involvement of big whale groups could help to bring more attention to the project and attract new investors. This could lead to increased liquidity on the protocol and a more vibrant ecosystem of DeFi applications.

RenQ Finance has garnered significant support from industry experts who have projected an impressive 50x surge in its value by the end of 2023. This is primarily attributed to the platforms cutting-edge technology which has the potential to address major challenges faced by traditional financial systems.

This has attracted big whale groups to begin to accumulate RENQ tokens alongside their Bitcoin (BTC) and Ethereum (ETH). As the project continues to grow and attract more users, it could become one of the leading DeFi protocols in the space.

Click Here to Buy RenQ Finance (RENQ) Tokens.

Website:https://renq.ioWhitepaper:https://renq.io/whitepaper.pdf

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Big whale groups that hold just Bitcoin (BTC) and Ethereum (ETH ... - Analytics Insight

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