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WEEKLY CRYPTOCURRENCY NEWS

How Much Will Ethereum Stake Rewards Be?

The staking (locking) process of 524,288 Ethereum has been completed in order to start the Ethereum 2.0 network. Annual staking revenue on the network will be 21.6%. However, with the increase in the amount of staking, the staking rewards will decrease inversely. For example, if 1 million ETH is staked, the annual return will decrease up to 15.7%.


Sees Great Potential In Cryptocurrencies At Visa After PayPal

Visa CEO Alfred Kelly said he saw great potential in cryptocurrencies. He said digital assets would be beneficial in countries with a high number of people without bank accounts. It may take a while for Visa to fully adopt this emerging technology.

Ethereum 2.0 Goal Complete

The Ethereum 2.0 staking deposit contract had reached 60% of the threshold required for Phase 0 to start as of yesterday. By completing the remaining 40% in one day, the required stake amount for the launch of the Ethereum 2.0 Beacon Chain has been reached.

Demand for Bitcoin Increased

According to an investor letter published last week, it announced that PayPal has purchased more than 70% of all Bitcoin mined last month. PayPal began responding warmly to its crypto offering to US customers earlier this month.

Cryptocurrency Proposal for TBMM

While the new type of Coronavirus (Covid-19) epidemic continues to spread, Health Commission President Recep Akdağ stated that a series of measures should be implemented to prevent the spread of the virus. Among these measure proposals of Akdağ is the use of "cryptocurrency". He highlighted the importance of using digital currency as much as possible to prevent transmission of the virus.

BTC Amount Increases in Cold Wallets

According to Santiment, 14.8 Million Bitcoins, 77% of the Bitcoins mined, are kept in cold wallets. Approximately 23% of Bitcoins are traded in active circulation. The high long-term expectations of investors seem to have increased the demand for cold wallets.

Another Record From Ethereum

Daily use of Gas in the Ethereum network is at an all-time high, according to Etherscan on-chain data. The term "Gas" refers to the transaction fees on the Ethereum blockchain network. When the use of gas is high, the user activity on the chain increases. Approximately $ 300 million worth of ETH will also be deposited to the Eth2 deposit contract address, which can also reduce the selling pressure on ETH in the long run.

Margin Transactions Will Be Terminated On Coinbase After CFTC Regulations
The USA will not allow margin trading on the exchange, pursuant to the regulations introduced by the Coinbase Commodity Futures Trading Commission (CFTC), a cryptocurrency exchange established in San Francisco. The stock market started to cancel open orders until this time. It plans to completely remove the margin trading application from its services in December next month.

Bitcoin Statement by PayPal CEO
PayPal CEO Schulman said that cash will gradually begin to disappear in the program he attended and that digital currencies will replace it. Emphasizing that this can even be a cryptocurrency such as Bitcoin or Ethereum, Schulman stated that we will see a digital money project from central banks. He said that although people now see Bitcoin as an investment tool, they will actually be able to see it as a stable currency. He said that his companies will also increase the Bitcoin volume significantly.

The Interest of World Giants from Every Sector is Increasing in Bitcoin
Gazprombank (Switzerland), a branch of the bank owned by the Russian energy giant Gazprom, carried out the first customer transactions as part of its new bitcoin services. Gazprombank will present the new cryptocurrency solution in cooperation with platforms such as fintech firm Avaloq and cryptocurrency custodian Metaco.

Japanese Giant Starts Cryptocurrency Transactions
Japanese financial services player SBI will borrow Bitcoin starting today at a 1% annual interest rate, according to an announcement. SBI seems to borrow a minimum of 0.1 Bitcoin ($ 1,880 at current prices) to a maximum of 5 Bitcoins (more than $ 94,000) from users and pay them for allowing it. He started his first transactions with Bitcoin, Ethereum, and Ripple.

WEEKLY CRYPTOCURRENCY ANALYSIS