Redstone has launched a new product called Bolt, a real-time oracle designed to deliver price data every 2.4 milliseconds. This technology is specifically built for high-performance chains like MegaETH, which aims for a target throughput of 100,000 transactions per second (TPS). Bolt is currently live on the MegaETH testnet, allowing decentralized finance (DeFi) developers to integrate it easily into their applications. MegaETH itself is an emerging Ethereum Layer 2 solution that has raised $20 million to enhance its capabilities. The introduction of Bolt is expected to significantly improve the speed and efficiency of price feeds for MegaETH, which is gaining attention for its competitive transaction speeds compared to existing Layer 2 solutions. This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz . To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
Hold onto your hats, crypto enthusiasts! The always outspoken analyst PlanB has just dropped a bombshell, igniting a firestorm of debate across the crypto sphere. His latest pronouncement? Ethereum, the second-largest cryptocurrency by market cap, is teetering on the brink of irrelevance. This isn’t just another market prediction; it’s a direct challenge to Ethereum’s position, delivered with PlanB’s signature bluntness. But what’s fueling this dramatic statement, and what does it mean for the future of Ethereum and the broader crypto market ? Why PlanB is Calling Ethereum Irrelevant PlanB, known for his Bitcoin price models and often provocative takes, didn’t mince words in his recent X post. He pointed to the alarming decline of the ETH/BTC ratio , which has sunk below 0.02 BTC, a level last seen in March 2016. For context, the ETH/BTC ratio is a crucial metric that reflects Ethereum’s value relative to Bitcoin. A falling ratio indicates that Ethereum is losing ground against Bitcoin, suggesting weaker investor confidence or a shift in market preference. Here’s a breakdown of PlanB’s core criticisms of Ethereum: Centralization Concerns: PlanB argues that Ethereum’s development and governance are overly centralized, contrasting it with Bitcoin’s decentralized ethos. He implies this centralization makes Ethereum vulnerable and less aligned with the core principles of cryptocurrency. Pre-mine Accusations: The term “pre-mined” is often used negatively in the crypto world, suggesting an unfair initial distribution of tokens. PlanB highlights Ethereum’s initial coin offering (ICO) and token distribution as a point of contention, implying it gave early investors an undue advantage. Proof-of-Work Critique: While Ethereum has transitioned to Proof-of-Stake (PoS), PlanB criticizes its departure from Proof-of-Work (PoW), the consensus mechanism that secures Bitcoin. He suggests PoW is superior in terms of security and decentralization. Origin of “Low-Quality” Projects: This is a sweeping statement, but PlanB suggests that Ethereum’s platform has facilitated the proliferation of numerous less credible crypto projects, potentially diluting the overall quality and reputation of the crypto space. In essence, PlanB’s argument paints a picture of Ethereum as a project that has strayed from the ideals of decentralization and sound money, ultimately questioning its long-term relevance in a market dominated by Bitcoin’s principles. But is this a fair assessment, or is there more to the story? The Plummeting ETH/BTC Ratio: A Cause for Alarm? The ETH/BTC ratio is indeed a significant indicator. When it falls, it signals that investors are favoring Bitcoin over Ethereum. This could be due to various factors, including: Risk-Off Sentiment: In times of market uncertainty, investors often flock to Bitcoin as a perceived safer haven within the volatile crypto market . Bitcoin’s established history and brand recognition contribute to this perception. Bitcoin’s Narrative Strength: Bitcoin’s narrative as “digital gold” and a store of value remains powerful, especially amidst economic instability or inflation concerns. Ethereum’s Evolving Narrative: Ethereum’s narrative has shifted from solely being “digital oil” for applications to encompassing DeFi, NFTs, and more. While diverse, this evolving narrative might be less clear-cut and consistently compelling to some investors compared to Bitcoin’s simpler value proposition. Macroeconomic Factors: Broader economic conditions, interest rate hikes, and regulatory uncertainties can impact the entire crypto market , often leading to capital flowing into the most established assets like Bitcoin first. However, it’s crucial to remember that the crypto market is cyclical. Ratios fluctuate, and what seems like a dire trend today might reverse tomorrow. To get a balanced perspective, let’s consider the other side of the argument. Is Ethereum Truly Irrelevant? Counterarguments and Perspectives While PlanB raises valid points, dismissing Ethereum as “irrelevant” might be premature and overly simplistic. Here’s why: Ethereum’s Thriving Ecosystem: Ethereum boasts the largest and most active ecosystem in the crypto space. It’s the foundation for countless decentralized applications (dApps), DeFi protocols, and NFT marketplaces. This vibrant ecosystem generates real-world utility and economic activity. Technological Advancements: Ethereum has undergone significant upgrades, most notably “The Merge,” transitioning to Proof-of-Stake. This move has addressed energy consumption concerns and paved the way for further scalability improvements like sharding. Developer Community Strength: Ethereum has a massive and dedicated developer community constantly innovating and building on the platform. This continuous development is vital for long-term growth and adaptation. Institutional Adoption: Despite centralization concerns, institutions are increasingly exploring and investing in Ethereum and its ecosystem. The demand for DeFi and tokenized assets is growing within traditional finance. Beyond Store of Value: Ethereum’s value proposition extends beyond being just a store of value like Bitcoin . It aims to be a global computing platform, powering a new generation of internet applications. This utility could drive long-term demand and value. It’s also important to note that comparing Ethereum directly to Bitcoin as a one-to-one competition might be misleading. They serve different purposes and cater to different needs within the broader crypto market . The Future of ETH/BTC and the Crypto Market Landscape The ETH/BTC ratio will likely continue to fluctuate, influenced by market cycles, technological developments, and investor sentiment. A prolonged period of Bitcoin dominance, as reflected in a declining ratio, could signal a shift towards simpler, more established crypto assets during times of uncertainty. However, a resurgence of innovation and risk appetite in the crypto market could easily see capital flowing back into Ethereum and other altcoins, potentially driving the ETH/BTC ratio upwards again. The ongoing development of Layer-2 scaling solutions for Ethereum, for example, could significantly improve its scalability and usability, potentially boosting its appeal. Ultimately, the “relevance” of Ethereum is subjective and depends on one’s perspective. If relevance is defined solely by sound money principles and decentralization purity, then PlanB’s critique might hold weight. However, if relevance encompasses innovation, ecosystem growth, and real-world utility, then Ethereum remains a highly significant and impactful force in the crypto market . Actionable Insights for Crypto Investors So, what should crypto investors take away from this debate? Diversification is Key: Don’t put all your eggs in one basket. A diversified portfolio across different crypto assets, including both Bitcoin and Ethereum , can help mitigate risk and capture potential upside. Understand Your Investment Thesis: Clearly define why you are investing in a particular cryptocurrency. Do you believe in Bitcoin’s store of value narrative? Or Ethereum’s potential as a global computing platform? Understanding your thesis helps you make informed decisions. Monitor Key Metrics: Keep an eye on metrics like the ETH/BTC ratio , but don’t rely on a single indicator. Consider a range of factors, including on-chain activity, developer updates, and macroeconomic trends. Do Your Own Research (DYOR): Don’t blindly follow opinions, even from prominent analysts like PlanB. Conduct thorough research on any crypto project before investing. Stay Informed and Adapt: The crypto market is constantly evolving. Stay updated on the latest developments, be prepared to adapt your strategies, and manage your risk accordingly. Conclusion: Ethereum’s Journey Continues PlanB’s controversial statement serves as a stark reminder that nothing is set in stone in the fast-paced world of cryptocurrency. While the falling ETH/BTC ratio and valid criticisms about centralization and pre-mine raise important questions, labeling Ethereum as “irrelevant” seems overly dismissive of its vast ecosystem, ongoing innovation, and potential for future growth. The debate highlights the fundamental tensions and diverse perspectives within the crypto market itself. Whether Ethereum can maintain its position and continue to evolve remains to be seen, but its journey is far from over. The crypto world will be watching closely. To learn more about the latest crypto market trends, explore our article on key developments shaping Ethereum price action.
Pi Coin is currently priced at $0.58, showing limited recovery. XRP Coin is performing well despite negative market sentiment. Continue Reading: Market Trends Reveal Pi Coin, Shiba Coin, and XRP Coin’s Performance The post Market Trends Reveal Pi Coin, Shiba Coin, and XRP Coin’s Performance appeared first on COINTURK NEWS .
Arthur Hayes, BitMEX founder, made a string of comments on X, pointing out the escalating trade war between China and America, arguing that there was a high likelihood of a Chinese Yuan (CNY) devaluation, and therefore a positive sign for the Bitcoin market. Hayes argued that a devalued CNY would result in Chinese capital flight and further flight into Bitcoin. He cautioned traders not to ignore China when making Bitcoin trades. He pointed out that similar price movements occurred in 2013 and 2015. “The U.S. is now pursuing”, wrote Markus Thielen, founder of 10x Research, “full-scale economic pressure on China, which may be forced to respond with quantitative easing and a currency devaluation. If so– and if China permits capital flight– Bitcoin could surge, much like it did in 2015”. Hayes believes that mounting pressure on China, including a trade war, tariffs, and economic stress, leads to economic weakness. He has been preparing for the inflow of capital by “nibbling” a little bit at a time, buying Bitcoin predominately, while holding out for the short term on altcoins, believing that Bitcoin dominance could hit 70%. He claims that ‘money printing’ is a popular method the Chinese central bank uses and feels confident that an injection of money will boost Bitcoin’s price dramatically. The People’s Bank of China (PBOC) has set the daily CNY at 7.2038, the weakest since September. The 7.2 level has been seen as a hard resistance level. A move above this level could indicate a systematic depreciation of the CNY. There have only been a few times that the level has been breached since 2022. Unlike the U.S. dollar, the CNY is not free floating and is restricted to trade 2% on either side of the announced level. A depreciated CNY would create cheaper Chinese experts, offsetting the negative effects of the American tariffs. Xu Tianchen, an economist, argued that an extra tariff against Chinese goods would not make much of a difference because the tariff rate is already at 60%, meaning that trade is already diminished, and further reductions would be akin to reducing trade when there was no trade to begin with. Chinese state institutions have been doing everything possible to stabilise the local economy, preparing for an unpredictable trade war from an unpredictable president, injecting liquidity into the markets, and buying up shares to withstand the negative effects of increased tariffs. Capital flight may occur if there are increased risks to China’s recovery efforts regarding the economy, and this is especially relevant to export markets because China engages in trade across the globe. Hayes, the founder of the BitMEX crypto exchange, interprets recent events not through the lens of an economist but rather as a trader. China and America have disagreed on policy decisions, with tit-for-tat exchanges between the two countries escalating into what now looks like a fully fledged trade war. For Hayes, a weakened CNY would be the logical choice for China because it represents an aggressive response with minimal consequences. The CNY has been trending downwards against the U.S. dollar, reaching five-year lows. Hayes believes Monetary policy is China’s greatest weapon against U.S. trade wars. Historically, Bitcoin has often increased in price when the CNY was weakened. Ben Zhou, co-founder of Bybit, agrees with Hayes that a weakened CNY would be a good sign for the Bitcoin price, citing historical records that confirm this trend. Zhou concludes that China will most likely devalue their currency to offset the negative effects of American tariffs. In 2015, China devalued its currency by 2%. Bitcoin, as a result, had large price movements on the upside. At first, Bitcoin dropped 20%, but then soared 60% upwards over the next four months. A ratio between CNY and USD could be used to measure the potential impact on Bitcoin. 2019, for instance, the ratio hit 7 to 1, and large movements occurred for Bitcoin. Therefore, a trade war between China and America could catapult Bitcoin, including other digital assets, into unexplored territory.
The approval of Ether exchange-traded fund (ETF) options marks a pivotal moment for the crypto market, particularly as asset managers eye staking possibilities. Despite the recent regulatory green light, the
Block, Inc., a financial technology company formerly known as Square, has agreed to pay $40 million to the New York Department of Financial Services (NYDFS). The settlement comes after regulators uncovered serious weaknesses in the company’s anti-money laundering (AML) program. This is particularly true within its Cash App platform, which allows users to send money and buy Bitcoin (BTC). Cash App Expanded Without Adequate Compliance Measures According to the NYDFS, Block’s compliance systems did not grow with the company. As Cash App expanded and began offering Bitcoin services, the systems meant to detect and prevent illegal financial activity were not strong enough. Investigators found that high-risk Bitcoin transactions were processed without proper review, allowing users to move funds anonymously. The investigation also revealed that Block did not have enough controls to check customer identities or assess the risk of certain transactions. These are key requirements for financial companies operating in New York. Block To Employ Measures to Oversee Compliance Improvements Block must hire an independent monitor to review its compliance systems and report back to regulators as part of the settlement. This ensures the company makes the necessary improvements and follows all applicable laws. The $40 million payment addresses past violations, but it is not Block’s first time paying such a penalty. Earlier this year, Block paid $80 million to 48 other state regulators over similar AML failures. Block has now stated that this agreement with New York marks the end of all its pending investigations with state regulators. Block Responds to Settlement Block did not admit to any wrongdoing in the settlement. However, the company stated that it has taken steps to improve its AML program. According to a spokesperson, Block has invested heavily in compliance resources. It was revealed the company had made necessary changes to strengthen its financial oversight, particularly within Cash App’s Bitcoin services. This case shows how important it is for financial technology companies to maintain strong compliance systems, especially when handling cryptocurrencies. As companies grow and expand their services, their responsibility to prevent money laundering and other financial crimes increases. New York and U.S. Regulators continue holding private firms and exchanges accountable. This is to ensure the safety and integrity of the financial system. The post Block Settles With NYDFS for $40M Over Cash App Compliance Failures appeared first on TheCoinrise.com .
UPDATE: CCP Games is opening up a free 10-day trial for players to test out Eve Frontier without buying a Founder Access pass.
Ether exchange-traded funds (ETFs) in the United States may be able to start staking a portion of their tokens as soon as May, according to Bloomberg Intelligence analyst James Seyffart. On April 9, the US Securities and Exchange Commission (SEC) authorized exchanges to begin listing options contracts tied to spot Ether ( ETH ) ETFs after greenlighting Bitcoin ( BTC ) ETF options in September. However, issuers are still waiting for the regulator to allow Ether ETFs to offer staking after filing numerous requests for permission earlier this year. Source: James Seyffart The approval of options contracts could represent a key step toward regulatory approval for staking services in the United States. Bloomberg Intelligence analyst James Seyffart said on April 9 that clearance for staking on ETH funds could come as early as May but would likely take until the end of 2025. “It's possible they could be approved for staking early, but the final deadline is at the end of October,” Seyffart said in a post on the X platform. “Potential intermediate deadlines before the final approval (or denial) are in late May & late August.” Options are financial derivatives that give investors the right, but not the obligation, to buy or sell an asset at a predetermined price before a certain date. Staking, on the other hand, involves locking up a cryptocurrency, like ETH, to support network operations — such as validating transactions — in exchange for rewards. In ETH funds, options contracts allow investors to hedge or speculate on the tokens' prices, while staking offers a way to earn rewards by participating in Ethereum’s proof-of-stake network. Ether ETF inflows. Source: Farside Investors Related: SEC approves options on spot Ether ETFs Progress toward adoption Ether ETFs launched in June 2024 but struggled to attract significant investor interest. According to data from Farside Investors, the funds have seen net inflows of $2.4 billion as of April 10, compared to $35 billion for Bitcoin ETFs introduced in January. Analysts say the SEC’s approval of Ether ETF options could help spur adoption . Asset managers are also waiting on the SEC to greenlight requests to allow in-kind creations and redemptions for Bitcoin and Ether ETFs. The emergence of options markets tied to spot crypto ETFs is a “monumental advancement” in crypto markets and creates “extremely compelling opportunities” for investors,” Jeff Park, Bitwise Invest’s head of alpha strategies, said in a Sept. 20 X post . But staking could be the most significant step forward for Ether funds. In March, Robbie Mitchnick, BlackRock’s head of digital assets, said Ether ETFs are “less perfect” without staking . “A staking yield is a meaningful part of how you can generate investment return in this space.” Magazine: Memecoin degeneracy is funding groundbreaking anti-aging research
TRUMP OPTIMISTIC ABOUT RESOLVING TARIFFS WITH CHINA FOR MUTUAL BENEFIT
The White House’s effort to force a divestiture of TikTok’s US operations has reportedly collapsed, at least for now, after Beijing refused to approve a proposed deal. The abrupt reversal results from a tariff-for-tariff standoff between Beijing and Washington, where the former feels “disrespected” by President Donald Trump’s insistence on raising tariffs on Chinese imports. According to a Thursday report from Politico, the deal to spin TikTok’s US business into a new American-owned entity had been finalized. It was set for public announcement just days before a legal deadline. Under the terms of the agreement, US investors would take majority ownership and control of the video app’s American operations, sources familiar with the negotiations said. ByteDance, the Beijing-based parent company of TikTok, would have retained only a minority stake to satisfy the Trump administration’s mandate for Chinese divestment. Beijing kills TikTok deal after new tariff hikes Sources now say the agreement fell apart as early as last week, when President Donald Trump imposed a “retaliatory” extra 34% tariff on Chinese imports, resonating the increase to what he called “China’s continued abuse of global trade norms.” The next day, ByteDance representatives informed the White House that Beijing would no longer approve the divestiture. Last Friday, Trump signed an executive order to extend the deadline for ByteDance to sell TikTok’s US operations by 75 days, moving it to June 19. Trump then went on to add the tariff rate on Chinese goods on Wednesday to 125% and accused China of showing “a lack of respect to the World’s Markets.” At the same time, he reduced tariffs on other countries to 10% for a 90-day negotiation period. China President Xi Jinping and his camp were not happy about this, and the government’s decision to block the transaction could be a vengeful response to Trump’s trade penalties. “ They’re using Trump’s own strategy against him ,” said Bill Reinsch, a former Commerce Department official now at the Center for Strategic and International Studies. “ They’re showing they can retaliate without harming themselves while still targeting a political priority for the White House. ” President Trump’s modus operandi is to use tariffs to bring more countries to his negotiation table, which analysts say has blurred the lines between diplomacy and economics. In his first term, he threatened import duties on Mexico to pressure immigration enforcement and linked military cooperation with South Korea and Germany to trade concessions. For Trump 2.0, he has expanded that approach, imposing tariffs and sanctions to pressure countries like Colombia and Canada to agree to new terms on border enforcement and deportation protocols. Trump and the US want control over the TikTok app, which more than 170 million Americans use. The administration insists the platform is a national security threat because it is China-owned and has demanded a sale to US investors as a condition for continued operation within the United States. Vice President JD Vance, who has been leading the negotiations, will have to find a way to expedite the stalled process, with one person close to his team calling it a “waiting game.” White House still confident about TikTok deal President Trump said he is still optimistic about the deal’s future, even when heads are still hot over trade differences. “ We have a deal with some very good people, some very rich companies that would do a great job with it ,” Trump told reporters in the Oval Office on Wednesday. “ It’s on the table, very much. But we’re going to have to wait and see what happens with China .” On Capitol Hill, several lawmakers opposed to the deal query the legality of Trump’s actions and the security implications of any remaining Chinese ownership. Senators Mark Warner and Ed Markey argue that the president does not have legal authority to extend the deadline. Warner also propounded that the terms of the current proposal would not meet existing legal requirements. Senator Tom Cotton, chair of the Senate Intelligence Committee, said that any American investor in a compromised TikTok deal should not expect protection from Congress. “ To any American who wants to invest in some half-assed TikTok deal, Congress will never protect you from going into business with Communist China, ” Cotton said. Markey introduced legislation to extend the divestment deadline to October, but it was blocked in the Senate on Wednesday. Under the law passed last year, TikTok was required to cease operations in the US by January 19 unless ByteDance had sold its American assets. President Trump, who began his second term on January 20, has twice extended enforcement deadlines to give room for more negotiations. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More