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Diar: Bitcoin Whales Bought he Dip, Accumulated BTC Waiting For A New Bull Run Return

Bitcoin Whales Accumulate Bitcoin Waiting For A New Bull Run Bitcoin (BTC) has been in a bull trend during the last few months that was apparently triggered by large buyers that didn’t want to miss the opportunity to purchase Bitcoin under $8,000. According to a report released by Diar, 26% of the current supply of […]
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Tether [USDT] fallout buoys competing stablecoin growth, finds Diar report

Tether, the top stablecoin, maintained its vice grip on the stablecoin market, while competing fiat-pegged cryptocurrencies are experiencing steady growth. USD Coin [USDC] and TrueUSD [TUSD], the other top stablecoins, have however surged in recent months, owing to the Bitfinex-Tether episode. According to a recent report by Diar, competing stablecoins have surged in the month of May in terms of spot trading volumes, amassing over $4 billion tokens on the blockchain. The trading volumes of the stablecoins over the past 5 months have already surged ahead of total fiat-pegged volumes in 2019. Source: Diar In May alone, the Coinbase and Circle-backed stablecoin, USDC, saw a massive 130 percent rise in trading volume, accounting for $3.6 billion, compared to its April sum of $1.6 billion. Launched back in October 2018 during the prolonged crypto-winter, the stablecoin’s trading volume from the first four months of its issuance is still dwarfed in comparison to its April 2019 figure. Since the beginning of the year alone, the stablecoin grew by 41 percent, stated Diar. Trading volumes reciprocated, recording a 435 percent top-up. Source: Diar TrueUSD by TrustToken, the audit-friendly stablecoin, saw its volume increase by $1 billion from $2.8 billion in April to $3.8 billion in the current month, beating USDC’s trading volume by $200 million. Diar added, “Notably, though, is that TUSD has a higher velocity marking it a favorite by traders as the stablecoin has 30% less in outstanding reserves than Centre’s USDC.” Interestingly, the USDT-sans-stablecoin surge occurred as Tether experienced its first month-on-month decline in market share for the first time in 6 months. Holding 81.7 percent of the market in March, USDT’s market share declined to 78.9 percent of the total Bitcoin to stablecoin and fiat market. May looks to paint a different tale for Tether, given the backlash its parent company is facing. Tether Limited also shares management with iFinex, the company that operates Bitfinex, which allegedly used USDT reserves to cover up its $850 million undisclosed losses. The post Tether [USDT] fallout buoys competing stablecoin growth, finds Diar report appeared first on AMBCrypto.
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Diar Report: Ethereum dApp Transactions Reach New Highs But Trending Downwards

The number of transactions of decentralized applications (dApps) on the Ethereum (ETH) network has reached a new all-time high in April 2019. According to a recent report released by Diar, Ethereum dApp transactions reached 776,000 ETH. However, there is a problem: the number of new dApps deployed on the Ethereum blockchain fell to a 15-month […]
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High ETH Prices Are (Finally) Good For Ethereum

Things are looking pretty bullish for Ethereum (ETH). The Ether price has surged by over ten percent in the past couple of days, and crossed above the psychological $200 barrier earlier this afternoon. That could be a strong buy signal for technical traders, as Crypto Briefing analysts reported yesterday.   Source: CoinMarketCap How High ETH Prices Harm Ethereum But what does a high Ether price mean for the smart contract network? There’s an obvious benefit for speculators and miners. But past experience has shown that anyone seeking to build dApps or just use the network could be severely hampered when markets turn bullish. That’s because the higher ETH prices get, the more expensive it is to use the platform. Users have to pay for everything they do on the network, from smart contract computations to token transfers. Rising gas fees could push end-users onto cheaper alternatives, like EOS or TRON, which offer similar functionality with lower fees. At least, that’s the received wisdom, which so far seems to be supported by experience. And it’s still technically true today: when it comes to using the ETH network, the downsides of a high Ether price tend to outweigh the advantages. Does Expensive ETH Mean A Stronger Network? However, Ethereum is (eventually) transitioning towards a Proof-of-Stake consensus model, which will require a financial commitment in order to participate. Instead of mining blocks through proof-of-work, block-producing nodes will have to stake ETH tokens as collateral in order to validate the network. That could have a significant impact on Ether’s market dynamics. Stakeholders will risk losing their hodlings if they fail to maintain connected and up-to-date node software. An expensive ETH would provide a strong disincentive to malicious or careless actors on the network. “If the chain is going to be secure, then there are inherent benefits from having high-valued Ethereum,” explained Nic Carter, Partner at Castle Island Ventures, in an interview with Laura Shin. A high Ether price, he added, would also provide “high-powered collateral, for DeFi applications for instance.”  Carter also pointed out that most networks have become too preoccupied with one or two “glamour metrics,” which may burnish their credentials but do not represent credible advantages. EOS, for example, has focused solely on scalability at the expense of decentralization. One tradeoff of those high speeds is that EOS relies on a small group of validators, which could present a systemic risk if they decided to collude or otherwise abuse their privileged positions. Ethereum’s key advantage is that it is the only platform with a vibrant community, Carter added, which comes with an “organic groundswell of usage and development.” Because of that organic usage, investors may be attracted to hold ETH for the long-term. “I think we noticed a little bit of a recalibration where initially [Ether] was computational gas,” Carter went on to say. “More recently, certain high-profile Ethereans have been saying, ‘well actually Ethereum itself is money.'” A strong Ether price could still push people off the network, but the community has been exceptionally resilient to market volatility and rival platforms over the past two years. The burgeoning DeFi space, and the added security after transitioning to Proof-of-Stake, could make high prices a net positive for the Ethereum network. The post High ETH Prices Are (Finally) Good For Ethereum appeared first on Crypto Briefing.
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