XRP Surpassed by XLM, Bitcoin (BTC) Flat and Listing Pumps: Main Trends in Crypto Identified by Three Arrows Capital CEO

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Wed, 06/10/2020 - 13:53
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Vladislav Sopov
Su Zhu, founder of the Singapore-based Three Arrows Capital asset management firm, identified the main trends of the past 30 days according to Coingecko analytical tools
XRP Surpassed by XLM, Bitcoin (BTC) Flat and Listing Pumps: Main Trends in Crypto Identified by Three Arrows Capital CEO
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Su Zhu, founder and CEO of Three Arrows Capital and the author of Deribit Insights blockchain analytical reports has mentioned six of the most significant characteristics of the past 30 days of cryptocurrency market behavior.

Bitcoin is (BTC) flat, altcoins are pumping

The first trend mentioned by Mr. Zhu was the very pale performance of the flagship cryptocurrency. Amid unprecedented hopes, Bitcoin (BTC) has managed to gain only 1% since the early days of May 2020.

Su Zhu on Coingecko reports
Image via Twitter

On the contrary, the most impressive upmoves were demonstrated by the high-tech altcoins Cardano (ADA) and Zilliqa (ZIL). The Cardano network is inching closer to Shelley mainnet. Yesterday, on June 9, 2020, it started to on-board stake pool operators for the Open Testnet.

The Zilliqa (ZIL) sharded network also achieved significant technical and promotional milestones and has been mentioned by top analysts as one of the most prospective altcoins.

Also, Mr. Zhu noticed that both of the top recognized Bitcoin (BTC) forks – Bitcoin Cash (BCH) and Bitcoin SV – (BSV) have been underperforming with 5% losses each.

XLM outperforms XRP

Stellar Lumens (XLM) has printed a 9% upsurge while its rival XRP is 6% down. On the seven-day timeframe,  XLM surged 3% and the XRP price fell 3%.

Another prominent reason altcoins have been pumping is vocal listing announcements. As revealed by Su Zhu, getting listed on the Coinbase crypto-to-fiat exchange has led to OMG Network (OMG), OmiseGo and Maker (MKR) rallies.

However, technological advancements could also explain the improved performance of these two altcoins. For instance, OMG Network on-boarded every USDT transaction from Bitfinex while MKR is the most important element of the DeFi ecosystem that is seeing a rebirth in Q2, 2020. 

All in all, the last 30 days were ‘green’ for crypto markets. The average upsurge for large-cap coins is about 10%.

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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

News
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.)