Cryptocurrency
BTC & ETH on pace to hit transactions worth $1.3 trillion in 2020
These settlement assurances are at the core of what allows public blockchains to scale globally.

Published
9 months agoon

In recent times, the human race with open hands has finally accepted the blockchain systems in making payment for goods and services, as data obtained from Messari’s top researcher, Ryan Watkins revealed BTC and ETH are on pace to settle a combined $1.3 trillion in transactions in 2020.
READ ALSO: There are now 13,173 BTC millionaires around the world
Strong settlement assurances are a necessity for public blockchains as they need to guarantee payments between untrusting and potentially unknown parties.
These settlement assurances are at the core of what allows public blockchains to scale globally.https://t.co/B0RvSwjKL3
— Ryan Watkins (@RyanWatkins_) July 21, 2020
These settlement assurances are at the core of what allows public blockchains to scale globally.
READ MORE: BTC scammers breach Twitter accounts of Bill Gates, Obama, Google, Apple, Uber
Quick fact: The purpose of these blockchain systems is to fully guarantee payments so that they cannot be repudiated, reversed, or charged back without the agreement of the recipient, and they’re meant to settle immediately.
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While it’s true most individuals do not want to transact in volatile financial instruments like crypto though most would prefer to hold their BTCs or ETH for investment purposes, it’s not necessarily true they’re not used for payments at all. In each of the past 3 years, BTC and ETH have settled a combined $1 trillion annually. This year they’re on pace to settle $1.3 trillion – their most ever.
Strong settlement assurances are a necessity for public blockchains as they need to guarantee payments between untrusting and potentially unknown parties.
READ ALSO: Paris Club: Debt payments suspended for Chad, Ethiopia, Pakistan and DRC in $1.1 billion waiver
Meanwhile the second most valuable cryptocurrency, ETH is on pace to shatter its previous annual record for total gas spent (in native units)
Ethereum is on pace to shatter its previous annual record for total gas spent (in native units)
The rise of DeFi and Tether’s continued invasion of Ethereum have, in part, increased network activity as well as the demand for block space pic.twitter.com/CnQiewrfsd
— Wilson Withiam (@WilsonWithiam) July 20, 2020
Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Message Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.


Cryptocurrency
Bitcoin ETF in North America has reached $1 billion in assets
The first North American Bitcoin ETF has already reached $1 billion (C$1.25 billion) in assets less than two months after its launch.

Published
2 hours agoon
April 13, 2021
According to a statement from its issuer, the first North American Bitcoin ETF has already reached $1 billion (C$1.25 billion) in assets less than two months after its launch. What exchange-traded funds did to the conventional investing market for decades could happen to cryptocurrency players in a fraction of the time.
Investors are clamoring for crypto exposure, particularly in an exchange-traded fund wrapper, and the product from Toronto-based Purpose Investments, ticker BTCC, has seen a lot of interest. Although there are many crypto funds in Europe that work similarly to ETFs, this is the first ETF anywhere.
More than $165 million worth of shares were traded on the fund’s first trading day in February, a big start for a fund in the much smaller Canadian ETF market.
Its rapid cash accumulation reflects the high demand for Bitcoin products in the United States, as issuers compete for approval of the first Bitcoin ETF in the nation. Despite regulator resistance to accept the tactics, at least eight companies, including VanEck Associates Corp. and WisdomTree Investments, now have live applications with the Securities and Exchange Commission.
On Tuesday, Bitcoin surged to an all-time high of about $63,246 ahead of Coinbase Global Inc.’s upcoming IPO later this week.
There is an increasing expectation that a bitcoin ETF will be available in the United States in the not-too-distant future. Gary Gensler, the nominated chairman of the Securities and Exchange Commission, has taught cryptocurrency classes. The bitcoin market has exploded in popularity in recent months, attracting the attention of major financial institutions. Bitcoin ETFs are once again being sought by VanEck, Fidelity, and others.
One advantage of ETFs is that shares can be readily created and redeemed to arbitrage away any discount or premium, which could greatly broaden their appeal. ETFs are also cheaper, which will put pressure on fees across the bitcoin ecosystem. Hence market sentiment may push the ETF higher.
Cryptocurrency
Bitcoin is on fire, breaks above all-time high
The flagship crypto traded at $62,645.26 with a daily trading volume of about $60 billion.

Published
13 hours agoon
April 13, 2021
Bitcoin prices ascended to a record high on Tuesday, hitting another milestone at above $62,000, a move that many reaffirm to be a bullish trend in the cryptoverse and one that can make other digital assets surge.
At the time of writing this report, the flagship crypto traded at $62,645.26 with a daily trading volume of about $60 billion. Bitcoin is up 2.99% for the day. The world’s most popular crypto now has a market value of about $1.17 trillion.
Adding credence to the strong bullish run in play is data retrieved from Glassnode pointing to the fact that holders of the flagship crypto are selling less, as Bitcoin deposits on exchanges hit a 30-day low.
BTC Number of Exchange Deposits (7d MA) just reached a 1-month low of 2,837.702.
READ: Why Bitcoin might likely hit $100,000 soon
📉 #Bitcoin $BTC Number of Exchange Deposits (7d MA) just reached a 1-month low of 2,837.702
View metric:https://t.co/v3uKq4dCjX pic.twitter.com/MTLDQeL5Oj
— glassnode alerts (@glassnodealerts) April 13, 2021
READ: Bitcoin produces 4 billionaires worth at least $3 billion each
More details later…
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