Bitcoin in the spotlight
While the market leader focuses on itself, various Altcoin projects are working at full speed in the background. A small excerpt: Ethereum 2.0 is in the starting blocks, Tezos is expanding its staking infrastructure and Bitcoin-Cash is approaching the next hard fork. A Bitcoin Dominance Index of 64.1% paints a different picture for many investors. The story shows how fast the tide can turn…
Waiting for ETH 2.0
According to the current state of affairs, Ethereum 2.0 will start with phase 0 on December 1, 2020. The Deposit Contract for ETH 2.0 was published 6 days ago and interested Stakers can already transfer the necessary 32 ETH to the contract. The long-awaited change from Proof of Work to Proof of Stake is a complex major project with a roadmap of several years. At the same time, the update is considered a beacon of hope for a possible Altcoin Season. The final version of the Beacon Chain is currently expected on November 24.
More and more exchanges offer staking programs
The majority of investors rely on staking programs of crypto stock exchanges in their search for passive income opportunities. In crypto-space, staking refers to a process in which users can support a crypto-network by storing coins. For this purpose, users store their coin stocks on a wallet and thus achieve a return on investment. In contrast to the Proof of Work, the Proof of Stake is based on a proof of share. Experts see the Proof of Stake mechanism as having the advantage of greater energy efficiency. In the past, the Proof of Work mechanism has repeatedly been criticized for wasting energy. Many experts assume that major exchanges such as Binance and Coinbase will offer ETH-Staking from January 2021.
Do the Altcoins have a chance?
After the PayPal rally and the turbulent US elections, Bitcoin is enthroned above the alternative assets with a dominance of 64.1%. However, the “Store of Value” could soon lose this narrow two-thirds majority when Ethereum 2.0 sees the light of day. Countless daps are already running on the ETH block chain and the DeFi market is booming. When Bitcoin touched the 20000 USD mark in December 2017, it didn’t take long for the Altcoins to take over. In spring 2018, countless projects reached a new all-time high, Ethereum itself climbed to a top value of 1433 USD. Whether these events will be repeated remains questionable. However, many experts already attest the Smart Contract-Coin a brilliant upward trend.
Etherum course in detail
At the time of writing, Ethereum is quoted at USD 444.56, which represents a daily gain of + 0.49%. With a market cap of approximately 50.4 billion, the best-known Altcoin is the undisputed No.2 in crypto space. In the past 24 hours alone, ETH units worth approx. 12 billion USD have been traded. Quite a few experts assume that Vitalik Buterin and Co. will end the turbulent crypto year with a bang. The associated potential is beyond question.