Altcoins May Be Top Сrypto Gainers Thanks to Paypal Listing: Russia Today's Ben Swann

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Fri, 06/26/2020 - 12:56
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Vladislav Sopov
In a recent episode of the Boom Bust on Russia Today, experts discussed the potential influence on the market if PayPal implements cryptocurrency remittances
Altcoins May Be Top Сrypto Gainers Thanks to Paypal Listing: Russia Today's Ben Swann
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Ben Swann is an American TV host and investigative journalist. Recently, he emphasized the unexpected effect of PayPal's potential plans to add cryptocurrencies to their payment instruments.

Some altcoins would be lucky

Mr. Swann emphasized the gargantuan size of PayPal's user base, which exceeds that of Coinbase and Binance by orders of magnitude. But the main issue is which exact cryptocurrencies may be listed by PayPal.

Ben Swann is guessing which altcoins may be listed by Paypal
Image via YouTube

According to him, the set of altcoins that would accompany Bitcoin (BTC) in PayPal wallets is worth looking at. Getting listed there would definitely be a good catalyst for a token's price.

If you are an altcoin and you manage to get into PayPal platform, it would send you skyrocketing.

Another expert on the program, Christie Ai, outlined that in terms of regulatory approval and business development, the altcoin listing could be really difficult for application.

The hosts added that U.S. regulators lack a consensus on the legal status of Bitcoin (BTC). Some agencies treat it as a currency, while others see Bitcoin (BTC) is a property.

Is Coinbase supremacy on borrowed time?

As covered by U.Today, the digital fiat payment platform PayPal and its mobile subsidiary Venmo, reportedly, are planning to launch cryptocurrency payment instruments in the next three months.

Direct buying and selling features may be implemented into the in-app functionality.

Some cryptocurrency experts suppose that this revolutionary launch - should it be confirmed - will put an end to the leadership of Coinbase in the American segment of the crypto sphere.

According to major XRP proponent Anders Lundberg, every Coinbase user that has already passed KYC checks on PayPal will use their service instead of the oldest American crypto exchange.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

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Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
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While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)