At the time of writing, Cardano is trading at $ 2.55. The ADA / USD pair broke the all-time high of $ 2.55 on August 20. The ADA will likely set new records during the day.
Cardano CEO Charles Hoskinson set the date for September 12. An update titled Alonzo will end on September 12th. After the blockchain update, Cardano will be able to host smart contracts.
As a result of all the renewal efforts, Cardano has reached a market size of $ 82 billion with crypto pump and dump in telegram. Now Cardano has become the third largest cryptocurrency.
Why are smart contracts important?
Blockchain networks can host many applications. These applications are commonly referred to as dApps (blockchain based application). dApps are gaining widespread acceptance in a wide variety of applications including DeFi (decentralized finance), DeX (decentralized exchange), gaming applications, and entertainment applications. In this application, especially financial applications (DeFi) have become very popular with crypto pump and dump in telegram. Check more about this topic on safetrading.today.
DeFi apps execute many financial transactions without intermediaries thanks to smart contracts. DeFi platforms are in serious demand due to the innovations they bring to the financial markets. The Cardano network will also begin to take away market share after September 12th.
Another theory about who Satoshi Nakamoto is!
Bloomberg senior analyst Eric Balkunas has revealed the true identity behind the Satoshi Nakamoto pseudonym. Before explaining this name, let’s see why the name Satoshi Nakamoto is so important.
We first came across Satoshi Nakamoto and the name Bitcoin through an article titled “Bitcoin: A Peer-to-Peer Electronic Money System” published in 2008. A year after this article, Bitcoin was launched.
In the early years of Bitcoin’s launch, Satoshi Nakamoto alone mined over 1 million bitcoins. The bitcoins in question have not moved in years. If Satoshi Nakamoto is alive, he will be one of the few billionaires in the world.
- According to Bloomberg senior analyst Eric Balkunas, Satoshi Nakamoto’s real name is Hal Finney!
- It was also interesting that software developer Hal Feeney talked about cryptocurrency cards and immutable tokens in an article written in 1993.
Hal Finney, whom Bloomberg analyst calls Satoshi Nakamoto, passed away in 2014. Finney’s body was frozen and donated to the Alcor Life Extension Foundation immediately after his death. He believes that incurable diseases can be cured in the future using a technique called cryonics (freezing the human body). Finney, who is very optimistic about the future and technology, believes that his body will be dissolved and brought back to life in the future.
The global adoption of cryptocurrency is growing, which countries are leading?
A new report published by blockchain data platform Chainalysis shows that cryptocurrency adoption is growing globally, with country-specific residents leading the way.
Vietnam tops the Chainalysis rankings in the Global Cryptocurrency Adoption Index until 2021 with good performance in total cryptocurrency activity, online retail value transferred and peer-to-peer (P2P) exchange trading volume. The Southeast Asian country also ranked second on Binance’s list of the top five countries in terms of cryptocurrency adoption earlier this month.
The top five of Chainalysis leaders are closed by India, Pakistan, Ukraine and Kenya, respectively.
- “Interviews with experts in these countries have shown that many residents use P2P cryptocurrency exchanges as their primary gateway to cryptocurrency, as they often do not have access to centralized exchanges.”
Chainalysis added that the overall level of cryptocurrency adoption around the world is growing rapidly, and that the factors affecting this rate may differ from region to region.
- “Our research shows that the reasons for this wider adoption around the world are varied – while many in emerging markets are turning to cryptocurrency to protect their savings, send and receive money transfers and conduct business in the face of currency devaluation, Western Europe and the East. Last year, Asia was mainly driven by institutional investment. ”
Finally, according to the report, cryptocurrencies are accepted globally 24 times compared to Q3 2019 and 881% compared to Q2 2020.
The CEO of DeVere Group reveals when Ethereum will “overtake” Bitcoin
The world’s most widely used blockchain, Ethereum, has grown significantly over the years. Both the market value of the network and institutional interest have grown significantly. Indeed, many analysts believe that ETH will eventually outperform Bitcoin in terms of market capitalization. This hypothesis is often called disrespect today.
Indeed, ETH is almost halfway through, according to several platforms that have considered the aforementioned opportunity. Blockchain Center, for example, used key metrics such as transaction volumes, market share, and active addresses to make this estimate.
Nigel Green, CEO of the leading financial advisory firm DeVere Group, was the last to agree with this view. The executive even went further in his forecast, stating that over the next five years, the market capitalization of ETH will exceed the value of BTC.
In an interview with City.am, the CEO stated that Ether has surpassed Bitcoin and will continue to do so until the end of 2021.
- “Ether is up about 240 percent this year, while bitcoin is up less than 38 percent. In fact, [ETH] outperformed all other competing assets in the first half of this year. ”
Here’s what Ethereum helped
According to the manager, two key factors will accelerate the progression of Ether to the top.
- “Firstly, Ethereum – the platform on which [ETH] is its own cryptocurrency – is the most requested platform for developing smart contracts, so Ether has a higher real potential for use. And it underscores the value of the network not only as a platform for developers, but also as a financial benefit around the world. “
Second, there was an “important” transition to Ethereum 2.0, with widespread investor enthusiasm. This development benefits not only the network, but the blockchain industry as well.
Ethereum’s superior leverage and technological advantages will allow it to surpass the world’s largest digital asset “in probably five years,” DeVere said.
However, the bullish trend of the Ethereum investment advisor does not mean anything negative for Bitcoin. In fact, Green believes Bitcoin will hit a new all-time high before the end of the year.
- “Of course, there will be ups and downs along the way, but Ethereum’s rise to the top of the cryptocurrency world seems unstoppable.”
Green made similar claims in a recent YouTube video. According to the manager, there are certain grounds and evidence. For example, Ethereum’s ROI has significantly surpassed Bitcoin’s ROI over the past few months. Even if you look at the flipping index (a hypothetical event where ETH outperforms Bitcoin in terms of market cap), ETH outperforms BTC in terms of transactions and volumes.
A Benzinga poll earlier this year found that 80.8% of the crypto traders surveyed shared the manager’s opinion. More than 65 percent of respondents believe Ethereum is undervalued, while 40 percent believe BTC is overvalued.
If this predisposition persists, the likelihood of a reversal may increase even more.