Connect with us
nairametrics
UBA ads

Cryptocurrency

Ethereum wallets holding at least 0.1 ETH just crossed the 3 million mark for the first time

Ethereum is a cryptocurrency designed for decentralized applications and deployment of smart contracts.

Published

on

Ethereum,Ethereum Whales Cumulative Holdings Touch 10 Months High, ETH Passes $220, Ethereum wallets holding at least 0.1 ETH just crossed the 3 million mark for the first time

According to reports recently released by Glasscode, the number of Ethereum addresses (EOAs) holding at least 0.1 ETH just crossed the 3 million mark for the first time. It has grown by 10.9% since the beginning of the year.

UBA ADS

READ ALSO: NSE promotes Digitisation of Governance, Risk Management & Compliance with launch of SentryGRC

“The increase in gas usage indicates a continuous growth in the use of Ethereum’s platform, as measured by the number of transactions, as well as demand for block space, as measured via gas per transaction,” said Wilson Withiam, research analyst at data provider Messari.

Gas is the token that energizes the Ethereum’s blockchain. It is the standard used to calculate the amount of charges an individual needs to pay in order to make transactions on Ethereum’s blockchain.

GTBank 728 x 90

In addition, data from Coinmarketcap, shows Ethereum, is the second-most valuable cryptocurrency by market capitalization, with a value of $26 billion and a daily trading volume that stood at about $ 7.3 billion, at the time of drafting this report.

READ MORE: Ripple helps MoneyGram records 100% growth on digital transactions

Like with many other crypto assets, speculating with Ethereum can be highly profitable and has had a good history of giving its investors huge returns. However, there are also many other options to make income from Ethereum. These options include Ethereum mining, Ethereum faucets and Ethereum staking.

onebank728 x 90

Ethereum is a cryptocurrency designed for decentralized applications and deployment of smart contracts, which are created and operated without any fraud, interruption, control or interference from a third party.

Download the Nairametrics News App

Ethereum is a decentralized system, fully independent, and is not under anybody’s authority. It has no pivotal point, and its platform is connected to thousands of its users through their computing system around the world, which means it’s almost impossible for Ethereum to go offline.

app
GTBank 728 x 90

Patricia

Olumide Adesina a French-born Nigerian, is an Investment Pro at Nairametrics Financial Advocates Limited. He is a Certified Investment Trader, with more than a decade working expertise in Financial Analysis & Investment Trading. A member of the Chartered Financial Analyst Society. Financial Market; Yale University, Behavioral Finance; Duke University. You can follow Olumide on twitter @tokunboadesina or email [email protected]

Click to comment

Leave a Reply

Your email address will not be published.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Cryptocurrency

Dogecoin gains 50% in less than 24 hours, highest single-day gain since 2017

The fast-growing altcoin has a block period of 1 minute, and the total supply is unlimited.

Published

on

The world of cryptocurrency got another shocker as a fast-growing altcoin gained 50% some hours ago, the highest single-day percentage gain since 2017. This was captured by a leading crypto researcher, Ryan Watkins.

UBA ADS

Data from Coinmarketcap shows that the cryptocurrency is the 27th most valuable crypto asset, with a market capitalization of $528.3 million.

Dogecoin is presently trading at $0.004217 up 51.93% at the time this report was drafted.

Quick fact: Dogecoin is a type of digital coin that is decentralized, and facilitates peer-to-peer digital transactions. This means you can send money online with much ease. It’s usually referred to as “the internet currency.”

GTBank 728 x 90

It is different from BTC’s proof-of-work protocol in many ways, one of which is the Scrypt technology. The fast-growing altcoin also has a block period of 1 minute, and the total supply is unlimited, meaning that there is no limit to the amount of Dogecoin that can be mined.

“The recent rise of dogecoin, a meme coin, should serve as a reminder to everyone in the space that the most popular use case for crypto is still pure speculation,” said Anil Lulla, a former analyst at Bloomberg and co-founder of cryptocurrency research firm, Delphi Digital.

Global search interest on “How to buy a dogecoin” has also skyrocketed from a score of 25 to 100, the highest possible search popularity score, over the past few days, according to 12-month Google Trends data analyzed by CoinDesk.

onebank728 x 90

Some of the videos on TikTok, a newly popular social media platform, garnered more than 100,000 “likes,” while all videos with the “dogecoin” hashtag amassed several million.

Patricia
Continue Reading

Cryptocurrency

Safest, regulated Cryptocurrency, Arcoin backed by U.S. Treasury securities

The Fund’s shares, Arcoin can be transferred in peer-to-peer transactions. 

Published

on

As many institutional investors and global banks search for regulated crypto assets to invest in, Arcoin created by Arca Labs seems to solve such needs. 

The ArCoin is built on the Ethereum blockchain and represents stakes in Arca’s U.S. Treasury Fund, which is regulated by the American Securities and Exchange Commission. Also, it is made up of 80% U.S. Treasury securities. 

UBA ADS

The Arca’s U.S. Treasury Fund can be traced through a customized platform, which enables peer-to-peer transactions. However, for the time being, ArCoin is unavailable on any major securities exchanges. 

In a prospectus filed with the SEC in April 2019 for the then-developing ArCoinArca explained that: 

“In the future, Arca UST Coins may be tradeable on a public decentralized or centralized electronic exchange platform that is registered with the SEC as an alternative trading system (“ATS”), although there is no guarantee any such systems or platforms will be available.” 

GTBank 728 x 90

Quick fact; The Fund’s shares (“ArCoins” or “shares”) can be transferred in peer-to-peer transactions on Ethereum, an open, public, distributed ledger that is secured using cryptography (referred to as a “blockchain”).

Ethereum records transactions between two parties in a verifiable and permanent way referred to as “immutability.” 

There are no share certificates, and because the shares can be transferred in peer-to-peer transactions using Ethereum’s technology, the shares are characterized herein as “digital securities.” For more information, including the costs and risks of effecting transactions on Ethereum, see “Peer-to-Peer Transactions,” “About the Digital Securities” and “Risks of Digital Securities. 

onebank728 x 90

In addition, Jerald David, president of Arca Capital Management, which oversees Arca Labs, explained to Cointelegraph of their intentions in using Treasury-based assets:  

“We wanted to create an instrument that invests in traditionally lower-volatility assets and the U.S. Treasury’s were an ideal choice from that perspective.” 

app
GTBank 728 x 90
Patricia
Continue Reading

Cryptocurrency

BTC whale moves 10,250 BTC valued at $95,000,000

A BTC whale is an individual or business entity owning around 1000 BTC or more.

Published

on

BTC whale moves 10,250 BTC valued at $95,000,000

BTC whales have been active lately since the last BTC halving unfolded, showing a large amount of transactions taking place lately in the BTC market.

According to data obtained from BTCBlockbot, an unknown BTC whale moved 10,250 BTC ($95M) in block 637,996 estimated to be roughly worth about $95million dollars, this transaction took place, less than 24 hours ago.

UBA ADS

Global investors and traders are still dipping their toes in the BTC market to see how this situation unfolds. While it is difficult to predict market movements, BTC whales have always shown historically that they often determine BTCs trend.

Quick fact; At the BTC market, investors or traders who own a large amount of bitcoins are typically called Bitcoin whales. This means a BTC whale would be an individual or business entity (with a single Bitcoin address) owning around 1000 Bitcoins or more.

GTBank 728 x 90

READ MORE: BTC whale steps in to buy larger stacks of Bitcoin, at a discount of $8,850

As BTC whales accumulate bitcoins, Bitcoins circulating supply reduces, and this can weaken any bearish trend bitcoin finds itself in. Meaning that over time, it’s possible that as Bitcoin approaches its fixed supply of 21 million, the price of BTC will go up, with BTC’s present demand factored in.

“The price of BTC is now more than 20x higher than it was when we first saw this many whales, implying that more wealth is being held by whales,” Glassnode noted.

onebank728 x 90

Download the Nairametrics News App

“However, the average balance held by each whale has decreased during this period, such that whales actually hold less BTC now than in 2016, and less wealth (in USD terms) than in 2017,” it added.

app
GTBank 728 x 90
Patricia
Continue Reading