Ethereum set to overtake Bitcoin in the long term, says JPMorgan
Julien Moretto – 4 May 2021
Banks and Institutions
100 million bonds issued on Ethereum
The European Investment Bank, a public body under the ECB, is issuing 100 million bonds on the Ethereum blockchain. Société Générale, Goldman Sachs, and Banco Santander will oversee the issue, which matures in two years.Source : Journal du Coin
China continues to develop its digital Yuan
China continues the rollout of its digital yuan, now called e-CNY. At the fourth China Digital Summit, companies like Alibaba, Tencent, and Huawei showed off the wallets and applications they offer. A wallet in the form of a credit card was also unveiled, which will be aimed at foreigners visiting China, including during the Winter Olympics.Source : The Block Crypto
Will Ethereum dethrone Bitcoin?
A report from JPMorgan Bank indicates that Ethereum is expected to overtake Bitcoin in the long run. According to the bank, while Bitcoin is more of a commodity and used as a store of value, Ethereum is the backbone of the cryptoasset ecosystem and is used on a daily basis for exchanges between different services. Ethereum also has the advantage in terms of liquidity available in the markets, especially for derivatives.Source : Beincrypto
Paypal to launch its own crypto
There is a rumor that Paypal is preparing to release a stablecoin. Like Facebook with Diem, it would be used massively for payments on its platform. More surprisingly, the project would be launched in partnership with Ava Labs, so probably on the Avalanche blockchain. Paypal has not confirmed its interest in this project.Source : Cryptoast
German investment funds should invest in crypto
A law will take effect in Germany on July 1, 2021, allowing investment funds to invest part of their assets in cryptoassets. These funds, which currently hold $1,800 billion under management, will be able to gain exposure to up to 20% in cryptoactives. This decision aims to make Germany a major player in finance around this market.Source : Coin Journal
Japanese giant buys 1,717 BTC
Nexon, the Japanese video game developer, announced on Wednesday, April 28, that it has purchased 1717 BTC, for a total price of $100 million, representing 2% of cash.Source : Coin Telegraph
1inch launches its wallet on iOS
1inch, known for its liquidity aggregator, is launching its own mobile wallet on iOS. The app will allow access to all of the 1inch Network’s tools, and thus allow for low-cost token trading, whether on Ethereum or BSC.Source : Coin Telegraph
Balancer and Gnosis launch CowSwap
Balancer has announced a partnership with Gnosis to create a new exchange, CowSwap. Still in alpha, this exchange relies on Balancer for liquidity management and Gnosis for asset price management to offer trading without transaction fees or slippage.Source : Medium
Binance launches another new product
Flash loans based hacks are coming to the Binance Smart Chain. The Uranium and Spartan protocols have been targeted by these attacks, for $57 million and $30 million respectively. These attacks are the result of projects based on copies of already existing protocols, whose source code has been modified, without fully understanding how the protocol works, adding flaws that do not exist in the original protocol.Source : Rekt
Tonic Finance’s products will change
The Inverse Finance protocol has launched a vote among its governance to acquire its competitor, Tonic Finance, and hire its creator Tony Snark. After negotiations, the vote was launched, and approved by Inverse’s governance.Source : Coin Telegraph
Tonic Finance’s products will continue to exist, but now within the Inverse ecosystem.
Ethereum 2.0 begins to take shape
An Ethereum 2.0 testnet has been successfully deployed. For the first time, the Ethereum 1 and 2 blockchains were able to communicate and transactions were visible between the two. The date of the merger of the two consensus (proof of work for ETH1 and proof of stake for ETH2) could now be December 1, 2021.Source : Cryptoast
Nvidia further reduces the performance of its graphics cards
Nvidia has announced that they have again reduced the efficiency of their graphics cards used for mining. This new performance limit is expected to reduce the efficiency of mining by 50%.Source : Coin Telegraph
Figures of the week
The Metamask extension has over 5 million users, that’s 5 times more than 6 months ago.
DeFi protocols generated over $250 million in revenue in April, both for protocol participants and DeFi token holders, half of which was for Uniswap.
Ethereum commission prices are at their lowest since December 2020. It is possible that such a development will bring back investors who had gone to L2 solutions, or even to other blockchains like BSC.
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