Connect with us

News

The rise of ETH raises expectations in the GOETH community

Published

on

Ethereum, as of now, is the second-largest digital asset and the first permissionless international economy. Ethereum is slowly revolutionizing the global financial system. In 2020, Eth reported a rise in its price by over 70%.  2021 has kicked off at a high notch for ETH, with its price hitting $976.89 as of Jan 4.

Factors contributing to the rise of Ethereum

  • Speculation 

Ethereum owes its surge of prices to speculations from the crypto market. GOETH community is predicting a rise in the cost of Eth in this decade. Ethereum will rise even more when the speculators invest in the product.

  • Staking

Staking is the new use of Eth. Staking is the process of locking up Ethereum tokens for some time. The yields on staking on Eth is currently at 20%. What’s more, is that staking on Ethereum allows for a pool of staking for small investors. The pool of staking favors the GOETH community at large as every investor has a say. Investors in the GOETH community can stake directly or through a third party.

  • Elimination of mining

Ethereum staking will bring mining to an end. During the initial period of introduction of staking, it will co-exist with mining but will eventually be eliminated in the long run. Mining is mainly used in Bitcoin, and in Ethereum, the reward to miners is new Ethers. These rewards are about 3.6% of Esther’s total supply yearly. The elimination of mining will lower the new pool. Expectations are such that when mining is censored, there will be a program to reduce transaction charges to counterbalance staking rewards and make total issuance of Ethereum negative, thus reducing supply. This will positively favor the GOETH community as they will not need any middlemen, miners.

  • Gas fees

One of the uses of Ether is to settle gas fees on the network.  The year 2019 saw a good number of Eth being used to pay gas fees of about $9.5k daily. GOETH community can bet on an increase in a total gas payment following the launch of ETH 2.0. This will compel corporations to buy Ether to use the gas on the network.

  • Collateral for applications

 Ether is used as security for programs in Ethereum to ensure that they function efficiently. For instance, Ether is used as collateral for DAI, a stable coin that tracks the dollar created by MakerDAO. The GOETH community need not worry about the price drop of Ether as DAI remains unchanged. MakerDAO contributes to the scarcity of Ether when they have many users to purchase Ether.

The Bitcoin Daily is one of the most reliable and leading portal about Technology News, Latest Updates, Financial News, Business and any all subjects related to technology and blockchain.

Continue Reading

Blockchain

Beyondi and Tokenis3 Collaborate to Transform Asset Tokenization

Published

on

Beyondi and Tokenis3 Collaborate to Transform Asset Tokenization

In a bold move to reshape the future of digital assets, Beyondi and Tokenis3 have joined forces to elevate real-world asset (RWA) tokenization to new heights. This strategic collaboration merges Tokenis3’s legal expertise in Regulatorily Enforceable Tokens (RET) with Beyondi’s innovative blockchain solutions, aiming to revolutionize security, compliance, and efficiency in the rapidly evolving digital asset space.

The Future of Digital Asset Innovation

RWA tokenization is not just changing how ownership is managed, it’s addressing some of the most pressing challenges in traditional asset ownership: illiquidity, high costs, and limited accessibility. Through their partnership, Beyondi and Tokenis3 are committed to accelerating these advancements.Central to this mission is Tokenis3’s Tokenization Assessment Report (TAR), a comprehensive evaluation framework that guarantees digital assets meet the most rigorous legal and technological standards. Beyondi strengthens this foundation with secure, scalable, and adaptable blockchain infrastructure designed to empower global businesses and institutions to thrive in the digital age.

Beyondi: Leading Blockchain Innovation Since 2015

Since its inception in 2015, Beyondi has been a spearhead in blockchain and emerging technologies. The company empowers founders, teams, and investors to navigate the complexities of the crypto market with confidence. Offering a wide suite of services, ranging from R&D venture building and advisory to incubation and fundraising, Beyondi seamlessly blends technical excellence with market insight to deliver transformative solutions across industries such as finance, healthcare, government, and entertainment.

Collaboration is at the heart of Beyondi’s approach. Using methodologies like Rapid Application Development (RAD) and Kanban, the team works closely with clients to deliver agile, innovative solutions. With expertise spanning IoT, Hyperledger frameworks, web and mobile development, and team augmentation, Beyondi is uniquely positioned to craft tailored, future-ready blockchain solutions.

Tokenis3: Redefining Secure and Compliant Tokenization

Tokenis3 emerges as a pioneer in digital asset assessment and tokenization, providing the essential trust and security that is lacking in today’s complex digital landscape. Their TAR establishes enforceable legal terms, ensures technological compliance, and prioritizes sustainability, a forward-thinking approach that sets them apart, offering a robust framework for both issuers and token holders. This approach enhances the credibility and security of tokenized assets, fostering trust and long-term engagement.

Shaping the Future of Asset Tokenization

The collaboration between Beyondi and Tokenis3 signals a new era for asset tokenization. By combining their respective strengths, the two companies aim to establish groundbreaking standards for security, transparency, and efficiency in the digital asset ecosystem. This partnership is not just about improving the present, it’s about responsibly shaping how assets are created, managed, and secured as the world moves forward in the digital age.

Continue Reading

Blockchain

Hashdex Unveils Innovative Dual Crypto ETF Targeting Bitcoin and Ethereum

Published

on

Hashdex Unveils Innovative Dual Crypto ETF Targeting Bitcoin and Ethereum

In a strategic move to capitalize on the growing interest in cryptocurrency investments, Hashdex has announced its plan to launch a new Hashdex Nasdaq Crypto Index US ETF, which will track both Bitcoin (BTC) and Ethereum (ETH).

On Tuesday, Nasdaq published the 19b-4 application for this groundbreaking ETF, marking a significant development in the crypto investment landscape. Unlike traditional ETFs that focus on a single cryptocurrency, Hashdex’s new offering aims to provide exposure to the two largest digital assets by market capitalization simultaneously.

The decision comes shortly after the SEC’s approval of Bitcoin Spot ETFs earlier this year and amidst ongoing evaluations of various 19b-4 applications for Ethereum Spot ETFs in May. This move positions Hashdex uniquely in the market, allowing investors to benefit from the potential of both BTC and ETH in a single investment vehicle.

Bloomberg expert Seyffart weighed in on the announcement, noting that a dual BTC and ETH ETF from Hashdex, weighted by market capitalization, is a logical progression in the evolving ETF landscape. While Hashdex opted not to pursue an Ethereum Spot ETF application alongside other major issuers, their focus on a hybrid ETF underscores their commitment to innovation and strategic diversification.

According to the application, the Hashdex Nasdaq Crypto Index US ETF will include cash holdings but refrain from incorporating additional cryptocurrencies. If approved, custodianship will be entrusted to industry leaders Coinbase and BitGo, with the SEC’s final decision expected by March 2025.

This initiative marks a significant milestone as the first US spot ETF application encompassing more than one cryptocurrency. Current plans allocate approximately 74% of the ETF’s portfolio to Bitcoin and 26% to Ethereum, reflecting the respective market capitalizations of these digital assets.

While similar investment products are already available in Europe, such as Bitpanda’s Bitpanda Crypto Index 5/10/25, which tracks the largest cryptocurrencies by market cap, Hashdex’s dual crypto ETF aims to provide US investors with a novel opportunity to diversify their crypto holdings within a regulated framework.

In summary, Hashdex’s innovative approach to launching a dual BTC and ETH ETF underscores the increasing integration of cryptocurrencies into traditional financial markets. As regulatory approvals progress, this ETF could pave the way for broader acceptance and adoption of digital assets among institutional and retail investors alike.

Continue Reading

Blockchain

Trader burns $340,000 in one minute with TrumpCoin

Published

on

Trader burns $340,000 in one minute with TrumpCoin

A Memecoin investor had to pay a heavy price for his mistakes. The trader lost over 340,000 US dollars in one minute. How the faux pas could have happened.

Memecoin Trader Loses Over $340,000 in a Minute Due to Fraudulent Transaction

A memecoin trader has reportedly lost more than $340,000 in less than a minute, according to the on-chain analysis service Lookonchain on X (formerly Twitter). The incident involved two transactions on Solscan, revealing a significant financial mishap.

On June 18, the trader attempted to exchange 2,500 SOL (approximately $342,000) for the newly launched TrumpCoin (DJT) using a trading bot. However, instead of receiving the legitimate DJT tokens, the trader was duped into obtaining 92,000 fake DJT tokens created by fraudsters. These fraudulent tokens were worth significantly less than the genuine ones.

The transaction took place through a “fake” liquidity pool on Raydium. This pool was not sufficiently funded and was filled with DJT tokens created by scammers. When the trader attempted to convert the DJT tokens back to Solana, the scam became evident. Unfortunately, by this point, it was too late, and the trader’s initial 2,500 SOL had dwindled to just under 5 SOL—a loss of over $340,000. For the fake DJT tokens, the trader received only $673.

The DeFi (decentralized finance) space is rife with such scams, where fraudsters set up fake liquidity pools to exploit traders’ mistakes. Some decentralized exchanges (DEXes) issue warnings to users about these scams, but trading bots typically do not provide such alerts. This lack of warnings is especially problematic with newly launched coins, where traders can easily fall into the trap of exchanging for the wrong tokens.

This incident highlights the perils faced by crypto investors beyond the usual price volatility. The affected trader remarked on X, “Life goes on,” reflecting a resigned acceptance of the loss.

Despite this unfortunate event, the world of memecoin trading has its success stories. Some traders have achieved remarkable profits in short periods. For instance, one trader became a millionaire in just five hours, while another made a profit of $9.5 million in ten days by trading the celebrity token MOTHER, associated with US rapper Iggy Azalea.

This stark contrast between potential gains and significant losses underscores the high-risk nature of the cryptocurrency market, particularly in the memecoin sector. Investors are reminded to exercise extreme caution and conduct thorough research before engaging in such trades.

Continue Reading

Trending