Today we will be discussing Ethereum institutional investors reallocating funds from Ethereum based products to other layer one blockchains. Next we’ll look at New York’s Bill that could effectively put a halt on proof-of-work mining in that state. last we’ll talk about Meta’s announcement that they’ll be opening a physical store in California and what that will mean for its upcoming metaverse.
Around the Blockchain is your favorite Cryptocurrency show discussing Bitcoin, Ethereum, Cardano, and the top altcoins. Our four crypto experts include MacNCheeasy, Joe parys, Rice TVx, & Ben Armstrong. Tune in for their insightful crypto analysis!
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If you have been thinking about making a crypto investment, you are not alone. In fact, there are a number of crypto projects whose aim is to create a decentralized suite of financial products that anyone can access. These projects have attracted key investors, including Apple co-founder Steve Wozniak. You may also have heard about MobileCoin, which uses existing mobile phone networks to provide digital cash payments. It is carbon-negative and private, and offers near-instantaneous digital cash payments. In order to create this project, fans contributed renewable energy to offset the network emissions.
The crash in crypto prices has wiped out gains from the last three weeks. The total market cap of cryptocurrencies has fallen by eight per cent, from US$2 trillion to A$2.5 trillion. That’s a loss of US$160 billion. In addition, Terra’s LUNA coin has dropped by 13 per cent in the last 24 hours, and 28 per cent over the past week. It is not yet clear how this will affect its future price.
DEVVIO is another proof-of-stake project. This platform is based on sharding, layer 2 protocols, and a decentralized consensus mechanism. It can currently execute up to eight million transactions per second (TPS). Its decentralized architecture allows thousands of shards to be added for tens of millions of TPS. One notable feature of DEVVIO is that it doesn’t require any special software or centralized infrastructure. Furthermore, it is completely browser-based, so it can be used by anyone without having to install any special software.
Elon Musk has had a major influence on the crypto market. His bid for Twitter was reportedly motivated by his dislike for verified crypto bots. Musk also expressed interest in adding dogecoin support and implementing crypto payments via Stripe. While Bitcoin’s success is still uncertain, it is becoming more mainstream. A large number of companies are backing cryptos, including Twitter, Facebook, and PayPal. All this suggests that bitcoin and cryptos have potential for widespread adoption.
A lawsuit filed against Ripple by the SEC could extend the XRP lawsuit, with a judge ordering that the parties agree to a briefing schedule. The defendants, however, want to open their briefs on May 22. Plaintiffs, on the other hand, want the proceedings to be delayed until at least the end of the year. The SEC is playing the “delay game,” but a win for Ripple would force the SEC to release sensitive documents, something the company doesn’t want to do.
The native currency of Ethereum, Ether (ETH), has risen immensely in value since it was launched in 2015. It rose from $0.311 in early 2015 to $4,800 by late last year, and recently fell back down to $2,200. This represents a seven-fold ROI over a five-year period. As with any investment, however, you should be aware of cryptocurrency prices, and invest only what you can afford to lose. You may want to put emergency savings or debt payments in the top priority list before making a crypto investment.