Bitcoin (BTC), the largest cryptocurrency by market capitalization, has already started losing its market dominance to Ether (ETH), according to Celsius Network CEO Alex Mashinsky. In a Monday interview with Kitco News, Mashinsky argued that the Ether “flippening,” or the hypothetical scenario in which Ether overtakes Bitcoin as the world’s most valued cryptocurrency, is already happening right now. Mashinsky said that the flippening has already happened on Celsius. “We manage about $17 billion in deposits, or in customer coins, and the number one coin held in dollar terms is Ethereum,” he said. Mashinsky also predicted that Ether will have completely …
Rounding up the last decade, Ethereum co-founder Vitalik Buterin revisited his predictions made over the years, showcasing a knack for being right about abstract ideas than on-production software development issues. Buterin started the Twitter thread by addressing his article dated Jul. 23, 2013 in which he highlighted Bitcoin's (BTC) key benefits — internationality and censorship resistance. Buterin foresaw Bitcoin’s potential in protecting the citizens’ buying power in countries such as Iran, Argentina, China and Africa. However, Buterin also noticed a rise in stablecoin adoption as he saw Argentinian businesses operating in Tether (USDT). He backed up his decade-old ideas around …
Anchor, the flagship savings protocol of the Terra Luna (LUNA) ecosystem, has seen its reserves decline by 35.7% in the past seven days according to Terra.Engineer. Since the beginning of December, the amount of Terra USD Stablecoin (UST) held in the "terra1tmnqgvg567ypvsvk6rwsga3srp7e3lg6u0elp8" smart contract has declined by over 50%, with only $35.7 million remaining. As a savings protocol, users deposit their UST assets via their wallets and earn up to 20% yields as their principal is lent out to borrowers, who pay interest on the loan amount. Borrowers must deposit collateral to ensure the lender can get their money back …
On Monday, Euroclear, a securities clearing firm that claims it has over 37.6 trillion euros in assets under custody, announced an investment into Fnality, a consortium of financial institutions focused on the regulated adoption of tokenized assets and marketplaces, for an undisclosed amount. Meanwhile, Euroclear is also focusing on developing its distributed ledger technology, or DLT, to settle digital securities against digital cash through the partnership. The solution aims to increase the speed and efficiency of post-trade operations in areas such as market issuance, collateral trades, and servicing interest payments. Founded in 2019, Fnality International said that to seeks to …
Self-sovereignty is a core principle in the cryptocurrency space: Investors need to rely on a trustless, decentralized network instead of a central entity that has been known to devalue the holdings of others. One shortcoming associated with self-sovereignty, however, is inheritance. An estimated 4 million Bitcoin (BTC) has been lost over time and now sits in inaccessible wallets. How many of those coins belong to HODLers who passed away without sharing access to their wallets with anyone else is unknown? Some believe Satoshi Nakamoto’s estimated 1 million BTC fortune hasn’t been touched for this very reason: No one else had …