Author: CVJ.CH Content Partner BeInCrypto

One of the major criticisms of Bitcoin and other blockchain networks has been its energy consumption. It is important, however, to set the numbers into perspective. As outlined in a recent report, Bitcoin consumes less energy than both the traditional banking system and gold. Galaxy Digital, one of the largest digital asset management firms, has released a report on Bitcoin’s energy consumption, detailing how it consumes less than traditional financial industries and the value it can bring. The analysis uses several calculations to ascertain how much energy the Bitcoin network uses and how it stacks up against the banking and…

Over the past year, countless traditional financial products have been replicated on the Ethereum blockchain. The area is accordingly referred to as decentralized finance (DeFi). An introduction to the Synthetix protocol, the largest project in the field of decentralized derivatives. The sector of decentralized finance (DeFi) has evolved so fast over the past year that new ways of trading and earning from digital assets have emerged at unprecedented rates. What was once just limited to collateral-backed lending and borrowing platforms is now a virtual smorgasbord of different protocols offering derivatives, flash loans, dynamic stablecoins, and synthetic assets. The Synthetix protocol…

Berkshire Hathaway Vice Chairman Charlie Munger has lambasted Bitcoin in the company’s annual shareholder meeting over the weekend, despite its accelerated growth. CEO Warren Buffet has also made negative comments on Bitcoin in the past and criticized its volatility. US-american Investor Charlie Munger reunited with Warren Buffet in Los Angeles to discuss key topics in the industry, including Bitcoin. Munger made his thoughts on bitcoin known to everyone. The 97-year old commented on the cryptocurrency stating “Of course I hate the Bitcoin success”. Annoyed by its success Bitcoin has undoubtedly been one of the biggest gainers in the financial markets…

Some crypto exchanges have enabled their users to trade traditional stocks through tokenized products. Now Binance, the world’s largest crypto exchange, is venturing into the world of tokenized stock trading. Is the new financial world merging with the old one? One of the major advantages of tokenized stocks is that traders can buy fractions of shares. For example, a quarter of a share of Tesla costs $243, as opposed to a whole share at the current price of $730. They are also available to geographical areas and countries that would not be able to access traditional stock markets due to…

The blockchain technology has various use cases. Some of the largest fashion brands such as Louis Vuitton, Cartier and Prada are now implementing blockchain solutions to authenticate their products in a more transparent way and prevent counterfeiting. The consortium plans to make their blockchain tool available to other luxury brands. The solution will provide their customers greater assurance that their products are authentic by providing an encrypted certificate of guarantee. It will also make the products more traceable, facilitating the resale of luxury goods on the secondary market. Utilizing blockchain to combat counterfeiting Fashion brands are utilizing blockchain technology primarily…

The World Economic Forum (WEF) held its Global Technology Governance Summit this week. Tokenization was one of the central themes. Accordingly, the name of one session was “Arrival of the Token Economy: From Art to Real Estate”. The WEF panelists discussed several different ways in which tokenization is impacting society. Abdulla Bin Touq Al Marri, the Minister of Economy of the United Arab Emirates, discussed how his country intends to utilize the technology of tokenization. New Media Artist and Director of Reeps100 Studios Harry Yeff spoke about how non-fungible tokens (NFTs) are popularizing the use of blockchain technology. Finally, Sheila…

In light of recent events positing the introduction of a bitcoin exchange-traded fund (ETF) in the U.S., Grayscale has reiterated that ETFs are the intended final products of its crypto trusts. Grayscale Investments has reaffirmed its commitment to converting its Grayscale Bitcoin Trust (GBTC) to an ETF. Grayscale highlighted that it pioneered providing investors with exposure to digital assets in the form of a security when it introduced GBTC in 2013. It added that GBTC and the Grayscale Ethereum Trust (ETHE) are the only two crypto funds in the world that are SEC-reporting companies. The world’s largest digital currency asset…

Visa announced it will allow the use of the USD Coin (USDC) stablecoin to settle transactions on its payment network. The company is launching a pilot program with a payment and crypto platform Crypto.com, with plans for more partners later this year. According to the announcement, Visa spent the last year enabling the capacity for digital currency settlement within its existing infrastructure. Anchorage, the United States’ first federally chartered digital asset bank, will facilitate the pilot program. The trio completed the first transaction earlier this month, with Crypto.com sending USDC to Visa’s Ethereum address at Anchorage. Crypto Visa Cards These…

Ethereum 2.0 is the next evolutionary phase of the Ethereum blockchain. It will mark the transition from proof-of-work algorithm to proof-of-stake. In the process, the Ethereum 2.0 Staking Contract recently reached an all-time high of 3.6 million ETH – over 3% of the total supply. Glassnode is reporting that at its current price of approximately $1’631, the total ETH value inside of the staking contract amounts to nearly $6.1 billion. This is a massive sum, signaling a great deal of support behind the upgrade. https://twitter.com/glassnodealerts/status/1376273620721397764?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1376273620721397764%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcvj.ch%2F%3Fp%3D25210 The amount of staked ETH has since dropped by about 300’000, but there is a…

Fidelity Investments and Goldman Sachs have filed applications to list a Bitcoin ETF with the U.S. Securities and Exchange Commission (SEC). These would be the first Bitcoin ETFs in the United States. In what is a major step forward for the crypto market, both Fidelity Investments and Goldman Sachs have filed for Bitcoin exchange-traded funds (ETF) with the U.S. SEC. Goldman Sachs filed the application on March 19, while Fidelity filed a few days later on March 24. If successful, the firms would offer a fund that tracks Bitcoin’s price from exchanges based in the United States. Multiple firms have…

The long-awaited official announcement on the launch of Uniswap version 3 has finally arrived. However, it dashed hopes for vast improvements in transaction costs and speeds. What’s new and why were some user disappointed? Following a teaser posted on March 23, the team behind the world’s most popular decentralized exchange, Uniswap, has finally released details on the specifications of version 3. The mainnet launch is scheduled for May 5. Layer 2 scaling powered by Optimism rollups will follow. https://twitter.com/Uniswap/status/1374407380520239109?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1374407380520239109%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcvj.ch%2F%3Fp%3D25056 Uniswap is currently the crypto industry’s top gas guzzler. The exchange has chewed through $2 million in fees over the past…

The order book supply of Ethereum on cryptocurrency exchanges has hit a 28-month low as demand for the market’s second-in-line soars. This is generally regarded as a good indicator of how strong the selling pressure for a token is. In this case it seems fairly low. According to data from cryptocurrency analyst Santiment, the ratio of Ethereum (ETH) supply on exchanges to the cryptocurrency’s total supply is at a 28-month low. Specifically, the percentage of ETH on exchanges dipped below 20%. This is the lowest it has been since the analyst began recording the data. Supply Shrinks, Demand Soars Just…

2017 feels like it happened a decade ago for most people, but many of people still have vivid memories of it, especially those who invested actively in the past bull run. There have been a lot of comparisons between the ICO bubble and recent DeFi hype, most of them unsubstantiated. The bull run of 2017/18 was a time like no other. One of the most memorable things about it was the so-called initial coin offering (ICO) craze, where new crypto projects promised enormous gains in a modest amount of time. One would find it difficult to see the words “ICO”…

The Oakland Athletics Major League Baseball (MLB) team is now accepting payments of Bitcoin (BTC) for home-game luxury suites. This follows a larger trend of cryptocurrency and NFT adoption in the sports world. The Oakland Athletics (A’s) is selling six-person suites for its 2021 home games at the cost of 1 BTC. This follows a growing trend of bitcoin and cryptocurrency adoption in sports. https://twitter.com/Athletics/status/1371143098223370243?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1371143098223370243%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcvj.ch%2F%3Fp%3D24744 The luxury seating suites can fit up to six people and include a variety of amenities. The offer is available until April 1, 2021, and interested buyers must contact the association directly. “We invite our…

Non-hackable cryptocurrency storage is only useful while you’re alive. Billions of US dollars in Bitcoin (BTC) are lost forever, in part, because heirs can’t get their hands on the inheritance. How can the whole thing be prevented? You live, you learn, you buy Bitcoin (BTC), you die. Surely you keep your coins in a well-protected place. Cautious Hodlers, with their keys safely tucked away, care about good custody. They know their Coins are safely stored while they are alive. Transferring the funds to an heir after death, however, is another matter entirely. As the number of Facebook profiles of deceased…

The Chinese technology company Meitu purchased millions of dollars of Bitcoin (BTC) and Ether (ETH) from its corporate reserves. Interestingly they allocated more money towards Ether ($25.75M) than Bitcoin ($19M). Meitu is the first major company to do so. The Chinese company recently announced a purchase of 15’000 Ether (ETH) and more than 379 Bitcoin (BTC). This is part of a new investment plan using cash reserves. Meitu’s business focus is in image and video processing as well as social media. They are currently publicly listed in Hong Kong. Moving into Blockchain In the announcement, the company states that its…