Ethereum, the second-largest cryptocurrency by market capitalization, set . This is the first time the digital asset has been over the $1,400 level since Jan. 13, 2018. Ethereum’s YTD gains now total 66.15% – over 6x higher than the leading cryptocurrency and outstripping both Polkadot (DOT) and Chainlink (LINK). Despite experiencing a temporary correction, it is still one of the strongest performers among the top 10 assets.
While there were no obvious fundamental catalysts to spur the rise to a new all-time high, ether had been close to breaking the key level for over two weeks after climbing to $1,350 on Jan. 10. The exponentially growing market for decentralized finance, known as DeFi – which now holds over worth of crypto assets in its protocols – was also a likely contributor to the bullish momentum behind the asset. Now, with Ethereum heading closer towards uncharted territory, all eyes will be on the second-largest cryptocurrency hitting its next major milestone, the psychological $2,000 mark. This fabled level is more than a 50% gain away from the current price (at press time), but there are 3 major events scheduled to go live in 2021 that could help make this possible.
1. CME Ethereum Futures
The world’s largest derivatives platform, the Chicago Mercantile Exchange (CME), publicly on Dec. 16 its plans to launch Ethereum futures by Feb. 8, provided it receives regulatory approval from the U.S. Commodity Futures Trading Commission (CFTC). Derivatives are essentially trading contracts that allow investors to bet on the future price of an underlying asset without having to actually own it.
This new cash-settled financial product – which means any profits made will be paid out in US dollars as opposed to ether – comes three years after the exchange launched bitcoin futures, which is now the world’s bitcoin futures product and accounts for over 20% of all open contracts.
The arrival of Ethereum futures will ultimately bring more maturity to the crypto market and, although futures are not physically delivered, greater liquidity. This is beneficial because it will give institutional investors in particular the opportunity to hedge positions, which reduces overall risk and in turn makes Ethereum a much more attractive investment.
2. Ether Burning and Predictable Fees
Any action carried out on Ethereum-based decentralized applications () or protocols are treated as transactions, which require a fee attached to them to encourage miners to process them. Right now, transaction fees are determined via an auction-style system where users who attach the highest fees to their transactions get them processed the quickest by miners. This system causes a number of issues, namely unpredictable and often extremely high fees during periods of heavy congestion. Network congestion arises whenever there’s a spike in trading activity. For example, if ethereum’s price changes sharply and thousands of traders suddenly want to enter or exit the market around the same time.
EIP is an Ethereum Improvement Proposal put forward by the project’s co-founder Vitalik Buterin, along with developers Eric Corner, Ian Norden, Rick Dudley, and Matthew Slipper, to implement changes to the way ether transaction fees are presented to users, as well as the management of ethereum’s supply. EIP 1559 suggests scrapping the current auction-style fee system in favor of an algorithmically determined base cost, called the “BASEFEE.” The BASEFEE aims to introduce a uniform fee across all ethereum-centric platforms and services that rises and falls depending on network activity. This means no more fee discrepancies between compatible wallets, protocols, and exchanges. The EIP does, however, include an option for users to tip miners should they want their transaction processed faster. The second function of EIP 1559, and the one that will likely have the greatest impact on Ethereum’s future price, is the introduction of burning ether. Burning means completely removing tokens from existence, causing a reduction in the circulating supply. EIP 1559 plans to burn the BASEFEE so the vast majority of the ether used to process transactions is destroyed as opposed to being given to network validators.
The idea is this will encourage the steady deflation of ether, which, in turn, should help bolster prices over time.
The EIP is anticipated to go live sometime after the , which could be as early as February.
3. Ethereum 2.0 Phase 1 Rollout
Ethereum is in the process of transitioning from a blockchain to one that operates using a consensus mechanism, with the goal of becoming a faster, more efficient, and more scalable platform. There are four separate phases to the Ethereum – Phase 0, Phase 1, Phase 1.5 and Phase 2 – each laying the technical foundation for the next until the final phase is completed.
Phase 0 went live on Dec. 1, 2020, and saw the implementation of the Beacon Chain – a new blockchain layer that will coordinate activity between individual Ethereum chains.
Phase 1 is the next stage in Ethereum’s development and will see the launch of 64 shard chains. All transaction activity across the network will eventually be divided among and processed by these separate blockchains. The benefits of this new system will be that transactions won’t need to be validated by the entire network, only by a single shard chain. This will greatly reduce the time it takes to confirm transactions, and it means the overall network will be capable of handling significantly higher volumes without suffering the level of congestion it currently does.
While there is no confirmed date for the launch of Phase 1, it’s expected to arrive sometime this year.
Stock-picking personality Jim Cramer recommended the unknown Maryland-based winner of Wednesday’s $731 million Powerball jackpot allocate 5% of his or her newfound fortune in bitcoin.
“You know what, if you won the lottery – Yes, I’m gonna say it: 5% in bitcoin,” Cramer said Thursday night on his .
His investment advice, of course, came with a few caveats: Don’t buy the bitcoin all at once, don’t buy it on the weekend. “Crypto could be incredibly volatile,” he said on the day tanked 13%.
Cramer identified bitcoin as an “important new store of value.”
His words echoed the philosophy preached by MicroStrategy CEO Michael Saylor, the tech executive with well over $1 billion of corporate cash plunked into bitcoin. Saylor has called bitcoin humanity’s ideal value storage mechanism.
Cramer, who owns bitcoin, is not exactly a Saylor-like disciple of the cryptocurrency some have claimed is tantamount to a . Cramer has expressed concerns over and erratic trading on his CNBC show in the past.
Cramer framed his recommendations, which also included allocations in art, real estate and physical gold alongside more mainstream plays like stocks and bonds, as tailored for a super-rich investor in a world where hyperinflation reigns.
“If you’re already rich, you have to worry about inflation the same way Superman worries about Kryptonite. Because it’s the only thing that can really wipe you out. And given the way we’re spending like drunken sailors in this country, it may be an issue,” said Cramer.
In recent years, innovation and change have been the main theme of the financial field. Financial itself is a kind of credit economy, on the way looking for innovation and change, financial institutions are consistent in the search for all-round change train of thought, with the rapid development of information technology and the widespread application, the technology of the Internet with the traditional financial integration deepening, to a certain extent has given rise to the profound change of the financial services. At the same time, financial innovation based on the Internet and other technical forces has formed a spectacular phenomenon in the current financial field: financial technology.
For some time, fintech, which takes technology and big data as its core, has greatly changed the development pattern of the financial industry. Fintech uses technological innovation to create new business models, business processes and products to achieve more efficient financial services. Technological innovations in cloud computing, big data, artificial intelligence, blockchain and other fields not only promote the development of traditional financial industry, but also promote the emergence of new financial formats, and bring new opportunities and challenges to the financial finance and technology industry.
Coin bull is coming
Blockchain technology has changed the way information is delivered reliably, and based on it has given birth to digital currency, a virtual asset formed by consensus through recognized technology. Digital currency uses encryption technology, distributed database, game theory, community governance mechanism, etc., making the entire ecological development gradually develop into a self-operating body. It is just because of the clever combination of technology and theory that a digital currency market bearing trillion-dollar market value has been achieved.
As a cryptocurrency closely related to blockchain technology, it has gradually become a hot spot of investment transactions. It has evolved from a small range of investment by geeks to a popular global investment category. In the years of rapid development of blockchain industry, various trading platforms have emerged. The foreancestors of the industry have contacted, explored, advanced and devoted themselves to building a new distributed trading platform. Since then, the circulation of digital assets is no longer limited to geography, national boundaries, skin color and race. After years of precipitation and polishing during this period, Coin Bull, a decentralized diversified digital asset trading platform (full name: Coin Bull), is rising like a shining star.
CoinBulll is a world-class blockchain digital asset trading platform that supports transactions of various blockchain digital currencies. In order to provide users with a simpler, safer, fairer, more open and more efficient trading environment, the company aggregates the world's best resources and the world's top blockchain technology. To provide users with the world's leading blockchain digital currency trading services, simple and easy to use.
At the end of 2020, a group of tech punks from the dark web got together and launched "Z-11" Lab. Based on Byzantine mechanism and SHA256 algorithm, Coinbulll, a Dex exchange, was developed and uploaded to the dark web using AMM-134 automatic market maker algorithm.
Due to the excellent mechanism and technology of Coinbulll, it quickly attracted great attention. Echoio Investment Company of Switzerland fully owned Coinbulll to accelerate its global market layout. Coinbulll owns a professional and experienced block chain technology and operation of the team, at the same time, coinbulll as world-class decentralized digital asset trading platform, is located in block chain policy most friendly countries around the world, Switzerland, hope that through the compliance of exchange in Switzerland, and take advantage of the Swiss financial center to link digital currency and the traditional financial markets.
Coinbulll will support the trading value of its platform tokens through the contract sector dividends, transaction mining, platform Gas fee, mobile pledge mining, Uniswap and other commercial sectors, to support the platform tokens continuously and to reach the peak value!
CoinBulll is a third-generation decentralized trading platform based on distributed automatic market maker mechanism. It adopts the mathematical model of liquid deflation, and through the game of "cattle to the world" and a large number of applications, it will enable the platform tokens to achieve true value circulation.
Coinbulll Total Global redefines the mining field for the next golden decade
Coinbulll is to develop in the currency and etheric lane outside the third block chain underlying ecosystem, devoted to expanding the business application of block chain technology boundary and technical boundary, let the public user user can real feel block value chain technology, not to block chain for stagnation in academic theoretical more directly into the practice of the development and application of application of coinbulll development will be commercial application of collision sparks and chain block technology, is also a challenge to block chain existing technology, jump out of the existing technology of thinking, to block chain 4.0 create a pioneer of ecological application system.
Therefore, Coinbulll, after fully learning from the consensus mechanism such as PoW/PoS/PoC /DPOS, creatively proposed a new concept — "Application Consensus". The concept was born out of a practical use scenario for IPFS: how to give valuable incentives to miners while giving users free access to the web?
With the development of blockchain today, more than one logic of token flow has been proposed. The mainstream situation is that decentralized projects based on a particular business support the flow of tokens with their endogenous business scenarios, and anchor the profits and value of some of the businesses. But years of Internet history have shown that this business model is hardly sustainable.
A new technology revolution is supposed to start with human needs, so from a realistic perspective, it is conceivable that if systems using IPFS require high frequencies and high fees, the audience will be significantly reduced. We expect decentralization reform not only because of "anti-monopoly", "freedom" and "security" considerations, but also from the perspective of business to fit the use habits of the public.
Inspired by the value of BTC, Coinbulll came up with the concept of "applied consensus". The core value of BTC lies in its "consensus value", which is the core reason why it is different from other POW blockchain crypto systems in terms of market value.
The core of Coinbulll's "application consensus" endorses the value of cryptographic tokens released by an application based on its impact. Projects with the following four characteristics have the potential to build an "Applied Consensus" :
1. Disruptive innovation;
2. Wide coverage of potential influence;
3. The potential impact on an individual is profound;
4. The release of cryptographic tokens plays an indelible role in its system maintenance.
Coinbulll navigates the future of the digital economy
Based on blockchain technology, Coinbulll tries to use blockchain technology to enable the technology and concept of financial scenarios, to create a more efficient, transparent, secure, credible and decentralized global decentralized big data platform, and to realize the following five application scenarios:
1. Ecological openness and co-construction: open ecological node, and the world's top community partners to jointly establish FLT ecology, together with win-win;
2. Worry-free fund security: The wallet is multi-layer encrypted, stored offline in the bank safe, and the fund is under third-party custody, making the fund secure and worry-free.
3. Quick online service: multi-channel docking service, professional technology and customer service team 7*24 hours online standby;
4. Strong selection of terminals: multi-platform terminal trading, covering IOS, Android, Windows, Mac multiple platform terminals, support full business functions, all transactions are convenient and rapid;
5. Community Innovation Alliance: The founding team is all senior practitioners of blockchain, adopting a new community partnership system, gaining recognition and support from dozens of top communities at home and abroad, and uniting more community cooperation, which will be an unprecedented community alliance.
Coinbulll pioneered many blocks of innovation chain technology innovation, break through the traditional thinking on the level of consensus, from the level of core algorithm has carried on the deep research and digging, and create the independent intellectual property rights technology, coinbulll development team is convinced that only good performance will block chain technology to realize from theory to application of phase transformation, phase coinbulll creation team during the development phase constantly in pursuit of performance for the purpose, to create a high performance and can achieve a variety of commercial development platform for the underlying male chain coinbulll, reshape the blocks in the ecological chain, It truly inaugurates a new era of development and application of blockchain 4.0.
The UDPN network will be available through API connection as well for “any information system such as banking, insurance, ERP, and mobile applications … to enable a standardized digital currency transfer method and payment procedure.”
The network is currently in the design stage, although public city nodes (PCN) are being rolled out through China in various states of completion, the blog states.
As CoinDesk reported, the BSN recently incorporated connections to multiple public projects into its network such as the cloud-computing project Oasis, meta-protocol Polkadot and China-based public blockchain Bityuan.
The BSN further expects to complete integrations with a total of 30 public blockchains this year, the blog concludes.
Authorities in Iran have seized tens of thousands of bitcoin mining machines claimed to have been using illegally subsidized electricity from state-run energy provider Tavanir.
According to a report by local media outlet Tasmin News Agency on Sunday, 45,000 mostly powerful application-specific integrated circuit (ASIC) machines were confiscated.
The machines had purportedly been consuming 95 megawatts per hour of electricity at a reduced rate, according to Tavanir's head Mohammad Hassan Motavalizadeh.
Earlier this month, Iranian authorities shut down 1,620 illegal cryptocurrency mining farms said to have collectively used 250 megawatts of electricity over the past 18 months, per a different news source.
The country's recent blackouts across major cities have been in part blamed on cryptocurrency mining, drawing the ire of officials who have sought a temporary stay onmining until further notice.
Cryptocurrency researcher Ziya Sadr told the Washington Post on Sunday miners had "nothing to do with the blackouts" claiming they only made up a "very small" percentage of overall electricity capacity in the country.
In July of last year, Iran penned a registration directive forcing miners to disclose their identities. It also forced them to disclose the size of their mining farms and their mining equipment type with the Ministry of Industry, Mines and Trade.