Blockchain technology: Latest News & Videos, Photos about Blockchain technology

Blockchain technology: Latest News & Videos, Photos about Blockchain technology

The Economic Times

Blockchain technology31 May, 2020, 12:27 AM IST


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    Japanese Crypto Exchange SBI VC Trade Offers New Customers Free XRP

    Japanese Crypto Exchange SBI VC Trade Offers New Customers Free XRP

    Japan’s newest crypto players are getting increasingly aggressive in their marketing efforts – with financial giant SBI now offering all new crypto customers handouts of the XRP token.

    SBI operates the SBI VC Trade crypto exchange, and per an official tweet, anybody opening an account between June 1 and September 30 will receive XRP 50 (currently worth around USD 10).

    SBI is one of Ripple’s closest partners, and the Japanese company uses Ripple’s MoneyTap solution in its own e-pay platform. Earlier this month, the company announced it wanted to roll out a solution that makes use of MoneyTap in hundreds of Japanese ATMs.

    Its CEO Yoshitaka Kitao is a member of the Ripple board, and the company has made multiple XRP payouts to shareholders of its Morningstar subsidiary.

    SBI VC Trade also says it has launched an e-KYC (Know-Your-Customer) authentication platform that allows new customers to conduct the entire registration process using their smartphones.

    The move comes hot on the heels of another crypto giveaway from a major new player on the Japanese crypto scene. As previously reported, e-commerce giant Rakuten has embarked on a month-long Bitcoin Pizza Day-themed promotion. Its Rakuten Delivery subsidiary is offering pizza delivery customers bitcoin (BTC) handouts of up to around USD 9 – providing they have or open accounts on the business group’s Rakuten Wallet exchange.

    Learn more: Ripple’s XRP Sales Drop Sharply, ODL Gets Traction


    Author: By Tim Alper

    Don't ignore what is going on with Ethereum, analyst says as stablecoins erupt

    Don’t ignore what is going on with Ethereum, analyst says as stablecoins erupt

    While ETH prices have remained in the proverbial dumps, the underlying Ethereum blockchain has seen a flurry of activity and development of recent months. The jury is still out on how these trends will affect the asset in the long run, but a top analyst says it would be unwise to ignore what is going on.

    Due to a Cambrian explosion in the demand for stablecoins based on Ethereum, ETH has rapidly been losing dominance on its home blockchain. That’s to say, ETH may not be the driving monetary force on its own chain in the coming weeks.

    Ryan Watkins, a research analyst at crypto data firm Messari, shared:

    “ERC-20 tokens are approaching 50% of the total value stored on Ethereum.Over the past two years there has been a complete transformation in how value is stored and transferred on the Ethereum blockchain.”

    Due to the growth in stablecoins and other ERC tokens, the fees spent by users of Ethereum have increased dramatically over the past few months to near all-time highs. Simultaneously, the amount of value locked in decentralized finance has gone parabolic. 

    The trends identified are still nascent, but the Messari analyst said that they show how the fundamental nature of the Ethereum blockchain and ETH’s utility and investment case have changed dramatically.

    “In short, Ethereum is being used more than ever, and in just two years, Ethereum has evolved from a blank canvas to an agglomeration of novel forms of value and use cases.”

    He added that considering the developments, “you can’t ignore what’s going on on Ethereum.”

    What cryptocurrency will become the main one in a year?

    Watkins is right: large investors are seemingly taking what’s going on with the second-largest blockchain seriously. And they’re largely bullish, despite the assertions by some that ETH is not a proper investment. 

    As reported by CryptoSlate previously, blockchain analytics firm Santiment found that there has been a strong increase in accumulation by some of ETH’s largest holders over the past few weeks.

    “ETH whale addresses have just hit a 10-month high with the cumulative holdings of the top 100 non-exchange wallets now owning over 21,800,000 Ethereum.” the firm wrote in reference to the chart below.

    The holdings of the top 100 ETH addresses have “added an additional 145,000 ETH,” worth about $30 million, over the last two days alone.

    It isn’t clear who is behind these “whale” addresses that are accumulating millions of dollars worth of coins, but there are some contenders.

    For one, Tyler Winklevoss and Cameron Winklevoss of the Gemini cryptocurrency exchange revealed that they “definitely own a lot of ether,” calling their holdings a “material amount.” The twins added that their stash of ETH is in the “same galaxy” as their Bitcoin holdings, which would mean they own hundreds of millions of dollars worth of the asset.

    There is also an analysis suggesting that “wallets associated with major players such as JPMorgan Chase, Reddit, IBM, Microsoft, Amazon, and Walmart” are stacking ETH too.

    Ethereum, currently ranked #2 by market cap, is up 4.5% over the past 24 hours. ETH has a market cap of $25.68B with a 24 hour volume of $12.46B.

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    Author: Nick Chong ·

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