by Penny Angeles-Tan | Sep 20, 2024 | Business
The EIGEN Season 2 Stakedrop is only specifically for 3 categories of recipients. Are you among those eligible to receive this EIGEN airdrop?
Through its official account on X, the EigenLayer Foundation announced its airdrop event. The EIGEN Season 2 stakedrop was announced on September 4. However, there has been no additional announcement regarding exactly when this airdrop will take place.
Stakedrop EIGEN Season 2 is only specifically for 3 categories of recipients. Are you among those eligible to receive this EIGEN airdrop? Check out the explanation below.
Mengenal EigenLayer
Before discussing EIGEN Season 2 Stakedrop, let’s first discuss EigenLayer. That way, you will become more familiar with this protocol.
So, EigenLayer is a protocol on the Ethereum network. This protocol is very innovative because, with EigenLayer, users can restake ETH that has previously been staked on the Ethereum Beacon Chain.
In this way, the ETH owned by users can be used again to secure other projects built on the Ethereum network. The emergence of EigenLayer makes using ETFs much more efficient.
EigenLayer also helps improve the security of the Ethereum network and projects built on the Ethereum network. With more validators securing the network, the network will become more decentralized and resistant to attacks.
This protocol also opens the door to the development of new, innovative projects on top of Ethereum. That way, developers can easily access the security resources provided by EigenLayer without needing to build their security infrastructure.
EIGEN Season 2 Stakedrop
On September 4, EigenFoundation announced its airdrop event with the title Stakedrop EIGEN Season 2. This event will be held on September 17 2024. However, there is a possibility that it will be held before that date.
There are only 3 categories of recipients who are eligible to take part in this EIGEN airdrop event, namely Stakers & Operators, Ecosystem Partners, and Community. The following is a more detailed explanation.
1. Stakers & Operators
This recipient category is users who have staked ETH or EIGEN tokens. Later, stakers can immediately claim prizes when the airdrop officially opens. To calculate rewards, you can check the following table.
2. Ecosystem Partners
The EIGEN airdrop recipient category includes AVS, LRT, Rollup, RaaS, and other main contributors who meet the requirements of the EigenLayer ecosystem.
3. Community
The community in question is supporters, contributors, and early users of the EigenLayer project. Later, this category will be assessed by carrying out social identity verification as confirmation that the user is indeed in this category.
Conclusion
That is the information about the EIGEN Season 2 Stakedrop. You can follow the latest information about EigenLayer and the official date for holding the season 2 stakedrop by accessing the Bitrue blog.
Bitrue has a variety of the latest information about the crypto ecosystem. That way, you will always be up to date with the various crypto projects currently underway.
by Penny Angeles-Tan | Sep 20, 2024 | Business
The Fed’s rate cut announcement has impacted the crypto ecosystem. Will the USDT price paired with other crypto tokens also increase?
After the Fed announced interest rate cuts, the cryptocurrency industry heated up. Many tokens have experienced price increases. So, what about the USDT price? Has the USDT token pair also experienced positive price changes? The following is the explanation.
Impact of the Fed’s Interest Rate Cut Announcement
The Fed has announced a 50bps cut in interest rates. This condition has heated up various investment assets, including the crypto industry. The majority of crypto tokens have even gone “green”. This condition is of course encouraging for crypto token holders.
Bitcoin recorded its price at $63,532 with an increase of 1.8% in 24 hours. Then there is Ethereum which has recently experienced a decline and even received a bad reaction from its holders because the price continues to fall. But now, ETH is up 4.65% and has a price of $2,545.
However, it turns out that the condition of positive price changes after the announcement of the interest rate cut does not apply to USDT. USDT Price fell by 0.01%.
Tether USDT Dominates the Stablecoin Market
In the stablecoin market, Tether USDT continues to strengthen its teeth. TON’s USDT Tether dominates and records itself with an increase of up to 75%, from the previous 55%. Its market capitalization even exceeds $118 billion. This figure is proof of the significant increase in Tether USDT in the last 2 years.
There are several reasons why Tether USDT has had such a significant increase now, namely:
- Tether USDT has a strong network with better liquidity than other stablecoins so users have more trust2. Users shift away from USDC due to the collapse of Silicon Valley Bank 3. Tether also has an allocation of US government bonds, thus providing income of up to hundreds of millions for Tether itself.
Conclusion
That is information regarding the current condition of the crypto industry after the announcement of the Fed’s interest rate cut. Even though Tether’s USDT price tends to fall compared to other crypto tokens which rise, this can be a moment to buy USDT as an investment strategy.
However, investing in crypto assets must be accompanied by in-depth research. Carry out technical and fundamental analysis to find out what the condition of the token will be now and in the future.
You can learn how to buy USDT, check prices USDT to USD, to find out the price in real-time on Bitrue. Take advantage of Bitrue’s various features to conduct independent research so that you are more confident in investing in digital assets.
by Penny Angeles-Tan | Sep 19, 2024 | Business
First in history, Bitcoin was used as payment for transactions by Donald Trump, former President of the United States. This transaction took place at a bar in New York City.
With an end that is considered no longer young, 78 years, this action has received praise. The reason is, that Trump showed adaptation to modern technology by using cryptocurrency to pay for burger and beer orders at PubKey, a famous restaurant and bar in Manhattan that accepts Bitcoin.
PubKey: A Historic Place for Bitcoin Transactions
PubKey is not just an ordinary bar, this place is known as one of the pioneers in accepting Bitcoin as a means of payment. Before Trump attended a rally on Long Island, he stopped at PubKey and made a Bitcoin transaction.
With the help of a PubKey employee, Trump used the bar’s cell phone and tablet to complete the payment.
This moment was greeted enthusiastically by the customers at the bar, especially those who are Bitcoin fans.
One customer even shouted, “Make Bitcoin great again,” as a form of support for Trump’s move. In a post on social media, PubKey called this transaction one of the most historic moments in the world of Bitcoin.
The Rise of Bitcoin and Trump’s Support of Cryptocurrencies
Bitcoin, whose price has soared more than 500% in the past five years, is now priced at around $61,248.50 per Bitcoin.
In fact, when this article was written on September 19, Bitcoin price had increased by +2.95% and was at $61,919. Increased quite significantly compared to the previous day which was below $59K.
The significant increase in Bitcoin’s value has attracted the attention of investors, including public figures such as Donald Trump.
Trump’s use of Bitcoin in PubKey is not just a symbolic stunt, but also part of a larger push to support cryptocurrencies.
A few days earlier, Trump talked about cryptocurrencies when launching World Liberty Financial, a new venture in the crypto space founded by entrepreneur Steve Witkoff with two of Trump’s sons, Donald Trump Jr. and Eric Trump.
During an event at X Spaces promoting World Liberty Financial, Trump explained that his sons, including 18-year-old Barron Trump, encouraged him to understand and accept cryptocurrency.
Trump even revealed that Barron has several digital “wallets,” which refers to places where Bitcoin and other crypto assets are stored.
“He was talking about his wallet, he had four wallets or something,” Trump said, reflecting his admiration for his son’s understanding of the technology.
Trump’s Ambition to Make America the “Crypto Capital of the Planet”
Trump’s move to use Bitcoin in PubKey is not just a moment in time, but reflects a larger vision for the future of the US in the world of cryptocurrency.
In July, Trump promised to make the United States the “crypto capital of the planet” and “Bitcoin superpower of the world” if he is re-elected president.
Trump also said that if Bitcoin were to go “to the moon,” a term often used in the crypto community to describe its extraordinary price rise, he would want America to lead this revolution.
At the Bitcoin 2024 Conference in Nashville, Trump expressed his commitment to supporting Bitcoin and other cryptocurrencies. He also criticized the policies of President Joe Biden and Vice President Kamala Harris, which he called a “war on crypto.”
Additionally, Trump promised to fire Securities and Exchange Commission (SEC) Chairman Gary Gensler, who is currently leading a regulatory crackdown on digital currencies. For Trump, regulations that are too strict will only hinder the growth of a dynamic and innovative crypto industry.
Trump Campaign and Acceptance of Donations in Crypto
Trump’s commitment to cryptocurrencies is also visible in his campaign moves. In May, the Trump campaign began accepting donations in crypto.
In the announcement, Trump proudly called himself a “crypto candidate,” or a candidate who fully supports digital currency.
Conclusion
Donald Trump’s move using Bitcoins in transactions on PubKey marks a new era in which cryptocurrencies are increasingly accepted in everyday life, even among major political figures such as former US Presidents. This proof us that Bitcoin to USD can be convert in transaction in the public area like PubKey.
With his ambition to make America the world’s crypto hub, Trump clearly sees huge potential in this technology.
With the support of his family, including his younger son Barron, Trump appears ready to lead the US towards a future more connected to the digital world and cryptocurrencies.
If re-elected, Trump promises to fight for Bitcoin and end policies he sees as barriers to crypto innovation.
Meanwhile, the historic moment in PubKey remains one of the most important milestones in Bitcoin’s development, signaling the growing role of cryptocurrency in global life and politics.
by Penny Angeles-Tan | Sep 17, 2024 | Business
ETH price continues to decline. It is predicted that Ethereum’s decline is due to Trump’s assassination last week and the Fed’s interest rate announcement. Here is a more detailed analysis.
The current condition of Ethereum is considered worrying. The reason is, the ETH price continues to decline even though the prices of other crypto assets are “green”. The price of ETH is currently considered the lowest since 2021.
Let’s review together what the current condition of the Ethereum price chart is. Analysis of factors that influence the price of Ethereum will also be explained in this article.
Ethereum Decline Factors
Allegedly, the decline in ETH prices was due to the assassination attempt on former US president, Donald Trump, at the Trump International Golf Club in Florida.
This second assassination plot was recorded at the end of last week and affected the prices of BTC and ETH. Quoted from Decrypt, the price of ETH at that time immediately fell by around 4.2% to reach $2,315 on Monday in the European trading session.
Not only was it influenced by the second murder of Trump by the Secret Service, the fall in ETH prices was also due to anticipation of a monetary policy decision by the Fed this weekend. The Fed’s decision has made the crypto market a little anxious, especially towards the end of the third quarter of 2024.
The Fed is likely to cut interest rates so that DeFi returns are attractive enough to pay attention to. However, the focus is also on rebuilding the DeFi lending market on the Ethereum mainnet. This could be used as a pump against Ethereum’s poor performance price.
ETH Price Keeps Going Down
Currently, the ratio of ETH to BTC pairs is at 0.039. This ratio is considered the lowest since April 2021. This decline in performance was analyzed starting on July 24 because the ETH/BTC pair fell below the ETH price range line between May 21 and July 24.
Please note, the ETH/BTC pair is the price ratio of ETh and BTC. The pair shows how much BTC is needed to buy 1 ETH.
The price of ETH to USDT also experienced a decline. When this article was written on September 17, ETH had decreased by -0.39%. Currently, the price of ETH is $2,307.
It can be seen from the Ethereum price chart above that the ETH RSI indicator is also falling below 50. Ethereum’s RSI is at 43.24. This means that the selling pressure on ETH is much greater than the buying trend.
The MACD indicator also reflects something similar. It can be seen how the Ethereum MACD line drops from the boundary line. This makes ETH’s bearish trend inevitable.
Conclusion
The ETH price chart is indeed in a sad decline at the moment. However, this does not rule out the possibility that Ethereum could rise because price fluctuations in the crypto ecosystem are commonplace.
You can buy ETH when the price is decreasing like now. However, you must conduct a thorough analysis before investing. You can also learn how to buy ETH.
Bitrue can help you to carry out a detailed analysis of ETH. Bitrue also has an ETH to USD price converter feature to find out exactly how much this crypto asset is worth compared to the current dollar.
by Penny Angeles-Tan | Sep 17, 2024 | Business
Grayscale Investments introduces Grayscale XRP Trust. How does it affect the price of XRP? How does it benefit users? Check out the explanation below.
Grayscale Investments, a company known for its cryptocurrency-based products, has introduced the Grayscale XRP Trust. This product allows accredited investors to invest directly in XRP.
The XRP community, including Ripple CEO Brad Garlinghouse, has welcomed this move.
So, how does the Grayscale XRP Trust benefit users and impact the future of XRP in the crypto ecosystem? Understand in detail by reading this article to the end.
What is the Grayscale XRP Trust?
The Grayscale XRP Trust is an investment vehicle that allows investors, primarily institutional and accredited investors, to participate in the growth of XRP.
Think of it like a special container containing XRP. By purchasing shares in this trust, investors indirectly own a share of the XRP that is in the trust.
The launch of the XRP Trust by Grayscale is considered a significant step for the development of XRP. This shows increased investor confidence in this token and its future growth potential.
Garlinghouse also emphasized that XRP has the potential to attract interest from institutional and retail investors.
Why is the Grayscale XRP Trust Important?
There are several reasons why this project is very important, especially for users, one of which is because it makes it easier to access XRP. See the explanation below for more details.
1. Easy Access to XRP
Not all investors have the technical knowledge or infrastructure required to purchase and store XRP directly.
The Grayscale XRP Trust simplifies this process. Investors only need to purchase trust shares, and Grayscale will manage their XRP holdings.
2. Legitimacy and Trust
Grayscale is a well-known asset management company with a good reputation. By launching the XRP Trust, Grayscale provides additional legitimacy to XRP and attracts greater interest from institutional investors.
3. Growth Potential
XRP has great potential as an efficient cross-border payment tool. If XRP manages to reach this potential, the value of the XRP Trust could also potentially increase.
4. Portfolio Diversification
Investors can use the XRP Trust to diversify their investment portfolio. XRP offers a unique asset class with different profit potential than traditional assets.
Grayscale Plans to Turn XRP Trust Into an ETF
Grayscale has ambitions to turn the XRP Trust into a spot exchange-traded fund (ETF) in the future.
This is in line with steps that have been taken previously with their Bitcoin and Ethereum Trust products.
Impact of XRP Trust Launch on XRP Price
The launch of the Grayscale XRP Trust had little impact on XRP price. When this article was written, XRP had increased by +2.97% bringing the price to $0.5856. This increase is not a rare phenomenon due to the launch of a new project.
However, the existence of this project from Grayscale proves that XRP is indeed a strong digital asset that has received investment from large companies. So, don’t be surprised if buy XRP is something that should be taken into account for long-term investment.
Ripple CEO Optimistic about XRP’s Future
Brad Garlinghouse, CEO of Ripple, expressed optimism about the future of XRP. According to him, the approval of XRP in the United States will be a key factor in its global expansion.
Garlinghouse believes that with a clear roadmap, XRP will be able to attract the interest of investors from all over the world.
Apart from that, the benefits of the Grayscale XRP Trust are:
- Increased Liquidity: As more investors become interested in XRP through these trusts, XRP market liquidity will increase.2. Wider Adoption: The XRP Trust can accelerate the adoption of XRP among institutions and large investors.3. XRP Position Strengthening: XRP will be increasingly recognized as a serious digital asset with huge growth potential.4. Innovation Driver: The interest of institutional investors will encourage further development of the XRP ecosystem.
Challenges and Hope
Although Grayscale has plans to convert its XRP Trust into an ETF, this is still subject to approval from the SEC.
However, the XRP community remains optimistic that with a favorable court ruling for Ripple, the chances of getting this approval are greater.
Conclusion
That’s the explanation about Grayscale XRP Trust. Grayscale’s latest project with XRP is an important step in the development of XRP. With this trust, investors can invest directly in XRP.
Additionally, Grayscale’s plans to convert the trust into an ETF indicate greater growth potential in the future. Even though there are still challenges that need to be faced, optimism towards XRP continues to increase along with positive developments that occur.
You can access XRP as a crypto asset on the Bitrue website and learn how to buy XRP. There are various XRP pairs that you can check, such as XRP to USDT, BTC, ETH, to USDC. You can also do a price converter XRP to USD easily on Bitrue. That way, you don’t need to bother switching websites just to check how digital assets are priced in USD.
You must be logged in to post a comment.