An Ethereum (ETH) co-founder transferring $1 million ETH to a CEX might indicate some underlying issues. On the other hand, Fantom (FTM) is experiencing a drastic increase in activity. Meanwhile, VC Spectra (SPCT)reports constant success for its investors with a staggering 212.5% ROI. Many investors are now reevaluating the scope of their investments.
Let’s find out which, if any, of these tokens can help you profit in this bear market.
VC Spectra (SPCT) Is Preparing For New Highs In Its Presale Journey
VC Spectra (SPCT) is a decentralized hedge fund that aims to democratize access to the blockchain and technology industry and provide investors with sustainable and profitable returns.
VC Spectra (SPCT) combines precision in spotting the right projects, a sustainable investment approach, tested trading strategies, and transparency & accountability to give users the best investment experience.
SPCT is a BRC-20 standard token built on the Bitcoin blockchain and is deflationary, with a burn mechanism reducing token circulation over time. Purchasing SPCT, VC Spectra’s token, gives you access to exclusive pre-ICOs, quarterly dividends and buybacks, and voting rights.
VC Spectra (SPCT) presale is already making waves. The platform raised $2.4 million during its private/seed round sale. The public presale has begun in earnest and is already at Stage 3.
VC Spectra (SPCT) tokens cost $0.025 at this stage. Stage 1 investors have already gained 212.5%, while those who bought VC Spectra (SPCT) tokens earlier in Stage 2 have gained 127.27%.
Anyone participating at this presale stage will gain 220% at the end when the price becomes $0.08, making VC Spectra the best bet for investors during this bear market.
Vitalitk Buterin Transfers $1 Million Worth of Ethereum (ETH) Amidst Continued Bear Market
According to statistics from Etherscan, Ethereum (ETH) co-founder Vitalik Buterin transferred 600 ETH worth almost $1 million to the crypto exchange Coinbase on August 21, 2023. This move came after Ethereum (ETH) lost 10% in the widespread bear market in seven days.
Since the news broke, Ethereum (ETH) has lost almost 2%, moving from $1,685 to $1,652 on August 28.
An analyst, Ali Martinez, believes Buterin is cashing out since, according to him, Ethereum (ETH) might plummet to $1,000. According to him, this could happen if Ethereum (ETH) breaks the critical support zone of $1,550 – $1,600.
However, CrediBULL Crypto has said this might be the best time to buy the dip. He predicts that Ethereum (ETH) will not fall any lower. According to him, Bitcoin recovery will also have the positive effect of pulling along Ethereum (ETH).
Will a 97% Increase In Activity Fuel Fantom’s (FTM) Rise To New Highs?
A report on July 13 stated that Fantom (FTM) holders’ activity increased by 97% between June and July following multiple network upgrades.
The number of active Fantom (FTM) active addresses rose from 164 on average in June to 264 in July. This increased activity was driven by the increase in new account formations, which grew by 45% in July.
Fantom (FTM) price increased by 12.7% from $0.272 to $0.307 on the news release. However, since then, Fantom (FTM) has been bearish. As of August 28, Fantom’s (FTM) price had fallen to $0.202. This represents a 34.9% decrease from the brief surge after the news got out.
CoinCodex predicts that Fantom (FTM) will reach $0.243 in five days. Fantom (FTM) could also end 2023 at $0.283. So, this might be a good time to buy Fantom (FTM) tokens.
However, you are poised for more growth with VC Spectra (SPCT) as it brings a 220% ROI potential to the table.
Disclaimer: This is a sponsored article. The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.
Bitcoin (BTC) and Ethereum (ETH) have experienced a notable decline in investment as a result of the US Securities and Exchange Commission (SEC) lawsuit and the FTX bankruptcy.
Meanwhile, a promising blockchain-based platform, Uwerx, has gained traction with the release of its long-awaited Alpha Platform.
In this article, we will examine the implications of the SEC lawsuit and FTX bankruptcy on the future trajectories of Bitcoin (BTC), Ethereum (ETH), and Uwerx, providing insights into their potential price changes.
Bitcoin (BTC) Price Prediction
Despite the recent FTX bankruptcy and SEC lawsuits that have shaken the crypto markets, Bitcoin (BTC) has displayed remarkable resilience.
Overcoming negative news within the industry, Bitcoin (BTC) swiftly rebounded from a three-month low, surging past the $27,000 mark following the resolution of the Coinbase lawsuit.
Currently valued at $26,457.45, with a 24-hour trading volume of $11,009,703,044, Bitcoin (BTC) has experienced a minor decline of 0.27% within the last 24 hours.
Standing strong at the top position with a market cap of $586.45 B, Bitcoin (BTC) maintains its dominant position as the leading cryptocurrency, according to CoinCheckup.
Market experts remain optimistic, predicting that Bitcoin (BTC)’s price will climb to $33,128.80 by the end of 2023.
Ethereum (ETH): Empowering Decentralized Transactions and Communication
Ethereum (ETH) stands as a decentralized global software platform, revolutionizing transactions and communication through blockchain technology.
Ethereum (ETH) empowers individuals and communities globally by eliminating the requirement for a central authority to govern the network.
In recent times, the cryptocurrency market has witnessed turbulence due to regulatory actions, particularly with lawsuits from the Securities and Exchange Commission (SEC) targeting major exchanges like Binance and Coinbase.
These actions have sparked criticism from lawmakers, raising concerns about the SEC’s regulatory approach within the cryptocurrency industry.
Presently valued at $1,839.19, with a 24-hour trading volume of $4,599,915,941, Ethereum (ETH) continues to make its mark.
Market analysts hold strong confidence that Ethereum (ETH)’s price will surge to $3,295.44 by the close of 2024. Nevertheless, concerned long-term investors are placing significant investments in Uwerx to counteract the turmoil in the cryptocurrency market.
Uwerx (WERX)’s Distinctive Features and Commitment to Fairness
Experience the potential of the Uwerx platform firsthand through the eagerly anticipated Test Airdrop, scheduled at the end of the presale on July 31st. This exciting opportunity allows participants to engage with the platform’s functionalities and witness its capabilities.
In a demonstration of long-term commitment to stability, Uwerx has decided to lock token liquidity for an impressive 25-year period. Moreover, the team tokens have been locked for a duration of 9 months, further reinforcing their dedication to building a strong and reliable ecosystem.
Uwerx has achieved remarkable success during its presale, with stages 1 to 4 completed in record time. This accomplishment underscores the strong demand and enthusiasm from the community.
Currently, Stage 5 of the presale is ongoing, offering a highly favorable rate of $0.047725 per token. Every purchase during this stage also comes with a generous 15% bonus, maximizing the value for early participants. By joining the presale, individuals can secure Uwerx tokens at an attractive price and position themselves for future growth and benefits.
The price is set to rise to $0.05245 on Monday, July 10th at 18:00 UTC.
Alpha Platform Release Boosts Uwerx (WERX) Trust as Major Cryptos Face SEC Lawsuit
Uwerx sets a new standard in the freelancing industry with its commitment to transparency and fairness. Upon the project’s readiness for launch on centralized exchanges, Uwerx plans to renounce contracts and reduce taxes to zero, ensuring a level playing field for all participants.
To guarantee security and trust, the platform has undergone comprehensive audits conducted by industry-leading firms, SolidProof and InterFi Network. These audits validate Uwerx’s reliability and integrity, providing users with peace of mind as they engage with the platform. Additionally, Uwerx distinguishes itself by charging a significantly lower transaction fee of just 1% compared to Upwork’s 10% and Fiverr’s 20%, empowering users to retain a larger portion of their earnings.
Uwerx introduces an innovative solution called the Uwerx Vault, enabling users to securely store their WERX tokens for various durations, similar to staking. By utilizing the Vault, users can also earn rewards based on platform variables, enhancing their engagement and incentivizing long-term participation.
In an exciting development, Uwerx’s listing on CoinSniper signifies an important milestone, expanding its reach and visibility. Furthermore, the highly anticipated listing on Uniswap is set to take place by August 1st, increasing liquidity and accessibility for investors.
This week, the presale is scheduled to launch a clickable prototype that includes pages for freelancer registration and client registration. Additionally, next week will see the introduction of the Uwerx Vault feature, and a poll will be conducted to determine the date of the test airdrop.
In response to the rapid progress made during the presale and the community’s demands, the Uwerx team has made necessary modifications to token allocations, ensuring a fair and equitable distribution.
Uwerx has just released its highly anticipated Alpha Platform, giving users a chance to try out its exciting new features. Click here to explore the Alpha Platform and start your adventure in the Uwerx ecosystem.
With the upcoming transition from the Alpha platform to the highly anticipated Beta phase, Uwerx will introduce additional features and improvements, elevating the freelancing experience to new heights.
Stay updated with Uwerx’s progress and provide valuable feedback by reaching out to feedback@uwerx.network as the platform continues to shape the future of freelancing.
Don’t miss out on the 15% bonus – Join the presale now and be part of the Uwerx revolution!
Disclaimer: This is a sponsored article. The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.
2022 happened to almost every cryptocurrency, leaving many investors with losses of billions of dollars.
But amidst these bearish market sentiments, Ethereum (ETH) has been amongst the best-performing cryptocurrencies since 2022 Q2, gradually regaining its bullish momentum. The big question is if Ethereum (ETH) will reach $20,000 before the end of 2023.
As you read on, you’ll discover an emerging crypto project, Uwerx, which promises even greater ROI than what Ethereum (ETH) may offer before 2023 ends.
Is Ethereum (ETH) Back For Good And Could Reach $20,000 Before 2023 Ends?
Ethereum (ETH) may reach $20,000 before 2023 Q4, considering its price movement since the start of the year. Ethereum (ETH) started at $1,000 in January 2023 and peaked at an ATH of $4,196.63 before retracing to its current price of $1,700.
However, while Ethereum (ETH) may reach the $20k target, the chances are slim. Ethereum (ETH)’s average growth rate compared to other years has been lower.
More importantly, the cryptocurrency market remains bearish—with the alleged number 2 cryptocurrency also affected.
Ethereum (ETH) currently sells at $1,742.69, a 0.64% increase in the last 24 hours. Ethereum (ETH) also has a $210B market cap, representing a 0.53% decrease in the last 24 hours.
Ethereum (ETH) offers a more significant investment risk with its current market conditions; thus investors should look in another direction toward an emerging crypto project with better ROI potentials—Uwerx.
Uwerx (WERX): An Emerging yet Ground Breaking Crypto-Based Freelancing Platform
Uwerx is a crypto-based freelance platform that is poised to revolutionize the way clients and freelancers interact. While popular freelancing platforms like Fiverr and Upwork continue to charge exorbitant transaction fees, Uwerx plans to slash those fees down to a mere 1%.
The project’s presale stages 1 to 4 were completed in record time, a testament to the growing anticipation for its real-world implementation.The Uwerx team has locked the token’s liquidity for 25 years, locked the team’s token for 9 months, listed Uwerx on CoinSniper, and is scheduled to list the token on Uniswap by August 4th.
Uwerx has promised to renounce ownership and eliminate taxes before launching on major exchanges. To boost transparency, Uwerx has undergone SolidProof and InterFi Network audits and scheduled their Test Airdrop to hold once the presale ends on July 31st, 2023.
To further demonstrate their commitment to fair token distribution, Uwerx has implemented a modified token allocation strategy, introducing a 6-week vesting period during which WERX tokens will be incrementally distributed to token holders.
This thoughtful approach aims to prevent potential market manipulation and foster long-term engagement among the community. Additionally, Uwerx has unveiled the innovative Uwerx Vault, allowing token holders to stake their WERX tokens and earn rewards in return.
The Uwerx team has also unveiled the Alpha Platform and begun plans to transition to the Beta version. Thanks to the community-oriented approach, the Uwerx team would value your contributions to the design; you can share your thoughts via feedback@uwerx.network.
Uwerx has completed its presales stages 1 to 4 in record time and is currently in the fifth stage, selling for $0.041 each with a 15% purchase bonus. Smart investors are hopping on this opportunity already.
Visit the links below to take advantage of the 15% presale bonus.
Disclaimer: This is a sponsored article. The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.
The discerning gaze of Ethereum (ETH) whales is trained on two promising ventures: DigiToads (TOADS) and Pepe (PEPE). These ERC-20 tokens have piqued the interest of these savvy investors, who are known for their keen eye for potential and ability to drive significant market trends. This article investigates why DigiToads and Pepe have caught the attention of whales and what investors can do to capitalize on this opportunity.
DigiToads (TOADS)
DigiToads stands out as a multi-faceted crypto ICO that goes beyond the standard definition of a token. This project is a comprehensive ecosystem that includes a P2E game, a unique deflationary token model, and an appealing NFT collection. The presale of this token has already raised over $3 million, underscoring the growing enthusiasm for this altcoin.
In the DigiToads universe, token holders can become virtual amphibian trainers, nurturing and battling their digital toads. They can use TOADS tokens to upgrade their pets and secure a competitive edge, making their gaming experience not just engaging but potentially profitable as well.
Moreover, DigiToads is committed to making a positive impact in the real world. The project has pledged to donate 2.5% of its profits to environmental causes, a move that resonates with an increasing number of socially-conscious investors.
Pepe (PEPE)
Pepe (PEPE), on the other hand, is a new memecoin, launched in mid-April 2023. It is inspired by “Pepe the Frog,” a character created by cartoonist Matt Furie, which has become a popular internet meme over the years. The PEPE token operates on the Ethereum chain as an ERC-20 token and quickly gained traction upon its release. The team behind PEPE believes that this memecoin has the potential to rejuvenate the memecoin space.
Ethereum (ETH)
Ethereum, the second-largest cryptocurrency by market cap, has long been a favored investment. It’s not just a digital currency but a platform for creating and managing decentralized applications (dApps). Its flexibility and potential have earned it a firm place in many investors’ portfolios. But even these seasoned ETH whales are looking for fresh opportunities in the form of altcoins and new defi projects.
The name Ethereum was chosen for the program, and Ether (ETH) for the cryptocurrency, drawing on the concept of “ether” as a substance believed to permeate all space. Developers can use the Ethereum blockchain to run their own applications, taking advantage of its widespread use for transaction security.
Ethereum (ETH) Whales Watching
It is clear that these two projects have drawn the attention of Ethereum whales. DigiToads and Pepe offer unique opportunities for investors looking for more than just another cryptocurrency. They are comprehensive ecosystems that offer engaging experiences and profit potential.
These projects illustrate how the cryptocurrency landscape is evolving. They are not just about financial transactions but about creating engaging experiences and building communities. They are about using the power of blockchain technology to create value in new and innovative ways.
With their significant resources and influence, ETH whales are well-positioned to drive these projects to even greater heights. Their interest in DigiToads and Pepe is a testament to the potential of these projects and a signal to other investors to pay attention.
As the crypto market continues to evolve and grow, new opportunities will emerge. DigiToads and Pepe represent the cutting edge of this evolution, offering new ways for investors to engage with the crypto market and potentially profit from their involvement.
Become A TOADS Holder Today
If you are an investor looking for the next big thing in crypto, it’s worth paying attention to what the whales are watching. Consider adding TOADS or PEPE to your portfolio. Join the DigiToads presale or explore the world of Pepe NFTs. Like the ETH whales, you may find these projects offer the unique opportunities you’ve been searching for. In the fast-paced crypto world, the next big thing could be just a leap away.
For more information on DigiToads visit the website, join the presale or join the community for regular updates.
Disclaimer: This is a sponsored article. The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.
Ethereum (ETH) has already taken a major leap by shifting to Proof of Stake consensus. Consequently, it has seen a major price boost. Ethereum (ETH) is expected to soar more as its next big upgrade implementation is expected this year.
But the gains may not be stellar when compared to what the new freelancing platform Uwerx has to offer. Its disruptive market services have already captivated traders as they eagerly await its presale to start.
EIP-4896, The Shanghai Fork
While Ethereum (ETH) is using PoS now, there is still much for the network to do. The next major upgrade for Ethereum (ETH) is its Shanghai Fork which will see staked tokens being unlocked for the first time. Other improvements include scalability and other features.
This has Ethereum (ETH) investors anticipating an increase in demand and price. The move has already started Ethereum (ETH) rising 38% this year and capturing a total $203 billion market as of now.
Ethereum (ETH) is expected to make further gains with the Shanghai Fork, with estimates of 21% to 47% gains still possible and settle anywhere between $2000 and $2434.
Decent gains in our opinion.
Uwerx (WERX) Presale is the Hottest This Year
Yes, many investors are interested in Ethereum (ETH) and its predicted profit opportunities. But the upcoming Uwerx platform has many thinking of switching over, thanks to its brewing potential to change how the freelancing industry will operate.
The presale for its WERX token is yet to start and already there is a frenzy of traders, investors, and users lined up. There is an eagerness to jump onto the WERX presale as it offers WERX a one-time opportunity at an amazingly low rate of $0.0075.
Experts have already weighed in their opinion, with many believing WERX may 200x its price in the coming months, touching $2.01 by July.
Uwerx: The Decentralized Savior
Blockchain and freelancing are a killer combination and Uwerx will be leveraging this connection deeply. Blockchain offers some of the most wanted resolutions to problems that freelancers have to deal with today.
Mainstream freelancing platforms create a marketplace that benefits freelancers but take as much as 20% out of freelancers’ pockets as the cost of using their services. Freelancers also have to face payment delays as platforms withhold their earnings for days – sometimes weeks. These marketplaces also have little regard for freelancers and employ morally questionable tactics such as no copyright protection and draconian regulations.
Uwerx will change all of this, thanks to blockchain. Faster, cheaper, and more efficient, Uwerx will give freelancers enhanced earnings by reducing fees to 1%, no taxes, immediate payment release, and full transparency of operations. Uwerx is also designed for freelancers and will offer different incentives such as rewards for being active or signing up. Its WERX token is also protected through a post-presale liquidity lock for 25 years. The platform is also ensured to be safe by a dual code audit by SolidProof and InterFi Network. This is good news for users as Uwerx will eventually become a DAO.
With freelancers almost doubling this year from 43 million to 78 million (Gig economy statistics by Velocity Global), WERX will be in a position to capture a significant portion of the market.
The option of using a freelancing platform is why there is a presale fever for WERX. While Ethereum (ETH) has good days ahead, it will not be as profitable as WERX can turn out to be, thanks to its plan of captivating the freelancer market. Traders see the early bird discount as the perfect opportunity to grab a token that can become a revolutionary mainstream asset.
Are you a freelancer or an investor interested in Uwerx? You can visit the website and socials using the links below to know more about the presale and get in at $0.0075 before the price increase on Saturday:
Disclaimer: This is a sponsored article. The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.
Leading crypto influencers and senior analysts have already begun calling for a DeFi Summer 2.0 in 2023. A huge amount of capital rushes into DeFi, and digital assets look ready to start explosive rallies across the board. A new participant, Uwerx, targets the freelance marketplace, and analysts have hinted it could easily 50X, and analysts outline the bull case for Ethereum (ETH) in 2023.
Uwerx (WERX) Set To 50X
Analysts have been incredibly bullish on Uwerx since reviewing the whitepaper and understanding its market fit; these factors have led them to predict a potential 50X, and several analysts even pushed that the WERX token could 150X if it sees rapid adoption.
Uwerx will deploy a decentralized freelance marketplace that will be technologically superior to its competition. The lack of innovation by traditional market entities, paired with the rapid growth in the number of freelancers, creates the perfect condition for this nascent protocol to tear through the rankings.
According to Velocity Global, 49% of gig workers said the ability to set their own hours is the most important factor when working in the gig economy. Freelancers prioritize their work-life balance, adopt new technology quickly, and these factors lead analysts to believe that Uwerx will excel. Uwerx will create a marketplace offering a more trusted service, and with fees 75% lower than industry leaders, Uwerx will power even more rampant growth in the number of freelancers.
Ethereum (ETH) Price Prediction
Ethereum (ETH) currently trades in a narrowband between $1,500 and $1,800. Analysts have flipped bullish on Ethereum (ETH) after the Ethereum (ETH) team successfully shipped the Merge. Ethereum (ETH) undertook an enormous technological leap, proving that Ethereum (ETH) can deliver on its roadmap given sufficient time.
Low estimates for Ethereum (ETH) price range between $3,200 and $3,400 for the end of 2023, with other analysts pointing to Ethereum’s (ETH) new deflationary tokenomics stating that it should trade above $6,000 by the end of the year.
Uwerx (WERX) Will Change Freelancing Forever
Uwerx has a long-term vision to change the face of freelancing and bring it into the modern age. InterFi Network and SolidProof have both audited Uwerx, and the Uwerx team announced a 25-year liquidity lock after presale ends. As well as renouncing contract ownership when the project is going to be listed on centralized exchanges.
Three big signs of a project that wants to make a change instead of a quick profit. Uwerx could become a staple in the freelance space and even has the potential to become a blue chip. Start investing now at $0.0075 by following the links below to earn your purchase bonus of 25%.
Disclaimer: This is a sponsored article. The views and opinions presented in this article do not necessarily reflect the views of CoinCheckup. The content of this article should not be considered as investment advice. Always do your own research before deciding to buy, sell or transfer any crypto assets.
Institutional investments dropped by 95% from their ATH in 2021, according to the latest CoinShares report
Investors withdrew money from Ethereum products over concerns about the network’s transition to Proof-of-Stake
CoinShares concluded that despite the drop, it is encouraging that investors are still choosing to invest in crypto, despite the hawkish FED and broader economic issues
Institutional crypto flows in 2022 fell to the lowest levels since 2018
The price of Bitcoin and virtually all digital assets plunged by high double digits last year, leading to the total crypto market cap dropping to $800 billion, down from the $3 trillion high in 2021.
The latest report from CoinShares, Europe’s largest digital asset investment and trading group, showed that the drop in market prices was reflected in investors’ sentiment as well. Whereas institutional crypto inflows reached their all-time high of more than $9.1 billion in 2021, the investments dried up in 2022, falling to just $433 million. That’s a massive 95% drop in a single year.
Institutional crypto inflows peaked at $9.1 billion in 2021. Source
The $433 million figure is the lowest amount that investors have spent on crypto projects since 2018, when there was only $233 million invested during the course of the year.
ProShares, the company behind the Bitcoin Strategy ETF (BITO), accounted for the biggest shares of total inflows in 2022, with $320 million. On the other hand of the spectrum, investors withdrew $529 million from 3iQ’s crypto investment products, which include Bitcoin and Ethereum offerings.
While Bitcoin net investments amounted to $288 million, Ethereum investments saw net outflows of $402 million. The main reason for ETH outflows was investors’ concerns about the transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS) consensus algorithm, according to CoinShares.
Despite the big year-over-year decline in investments, CoinShares noted that it is “encouraging” to see investors choosing to invest, “In a year where bitcoin prices fell by 63%, a clear bear market precipitated by irrational exuberance and an overly hawkish FED.”
Paxful removed Ethereum trading features on Thursday
The decision was made due to Ethereum’s switch to Proof-of-Stake and a high degree of centralization
Paxful has over 9 million users and has been selected as one of the 100 most influential companies of 2022 by TIME
Paxful CEO says the switch to Proof-of-Stake “rendered ETH essentially a digital form of fiat”
On Wednesday, Paxful CEO Ray Youssef announced that the Paxful peer-to-peer (P2P) marketplace would be removing Ethereum (ETH) from the platform on December 22nd.
Youssef said that the decision to remove ETH was made by him personally. The reasons for the surprising decision have been multi-faceted, according to a Twitter post made by the CEO earlier in the week.
Stables are a must for real usecases, which is why eth is still on the wallet.. sigh
For starters, Youssef argues that Ethereum’s switch to the Proof-of-Stake (PoS) consensus algorithm in September rendered the currency “a digital form of fiat”. He added that Proof-of-Work (PoW) is essential, arguing that this feature makes Bitcoin (BTC) “the only honest money there is.”
Youssef proceeded to critique Ethereum by saying that it “is not decentralized” and added that the whole network is controlled by a “small group” of individuals.
Youssef also said that Ethereum is responsible for facilitating the creation of countless tokens that have led to scams that cost users billions of dollars over the years.
“You have my word as a CEO and as a human being that I will always put purpose before profit. We’re really going to do this brothers and sisters,” wrote Youssef in his ending remarks.
Paxful is a very popular P2P crypto marketplace, especially among African users. The company was featured on TIME’s list of 100 Most Influential Companies of 2022. In March, the company had more than 9 million users globally.
Staking Ethereum coins is one of the most popular passive-income methods in the crypto industry. As of the middle of December 2022, nearly $20 billion worth of ETH is staked in the Beacon Deposit Contract.
Sparring technical details, ETH that is stored in the smart contract is used to secure the Ethereum network and verify transactions. Users that stake their ETH receive staking rewards in exchange for their participation.
However, there are several caveats when it comes to staking Ethereum as an individual. For starters, there is a 32 ETH requirement and a decent level of computer knowledge needed.
Binance ETH 2.0 looks to solve that problem by streamlining the Ethereum staking process and lowering the minimum staking requirement to just 0.0001 ETH, making it available to a much broader range of people.
Ethereum Merge: How the biggest smart contract platform became 99.95% more efficient
Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud, or third-party interference. These apps run on a custom-built blockchain, an enormously powerful shared global infrastructure that can move value around and represent the ownership of property.
For the first couple of years after its launch, Ethereum had relied on the Proof-of-Work (PoW) consensus algorithm to secure the network and generate new blocks of the Ethereum blockchain. PoW requires powerful hardware and lots of energy by design.
Everything changed on September 15, 2022, when the Ethereum network successfully transitioned from PoW to the Proof-of-Stake (PoS) consensus algorithm. Instead of relying on solving complex mathematical problems to verify transactions, PoS allows owners (in this case, ETH) to sake their coins, which gives them the right to validate new blocks of transactions and add them to the blockchain.
This allowed the Ethereum network to consume in excess of 99% less energy than before. Ethereum founder Vitalik Buterin estimated that the world’s energy consumption was reduced by an astonishing 0.2% as a result of the transition.
Many argue that this move – widely known as “The Merge” – was the biggest update in the history of crypto.
What comes after the Merge?
The Merge set up the stage for a series of Ethereum updates that will culminate in a network that is capable of processing up to 100,000 transactions per second (TPS) down the line.
Following the Merge, the Ethereum upgrade will undergo four major development cycles, including the Surge, which will introduce sharding; the Verge, which will drastically reduce computational requirements; the Purge, which will decrease the hard drive space requirements; and the Splurge, which will enhance security and bring other quality of life improvements.
The full roadmap will undoubtedly take years to complete. For context, in January 2022, Ethereum founder Vitalik Buterin said that the development was roughly at the halfway point. Following the Merge (now completed) and the Surge, the roadmap will be 80% complete, noted Buterin during a two-hour Bankless podcast episode
What is Ethereum (ETH) staking?
The amount of ETH locked in the Beacon Deposit Contracts throughout the last two years. Source: Ethscan.org
Ethereum staking is the process of allocating a certain amount of Ethereum (ETH) and using it to help secure the Ethereum blockchain network. When users hold and stake their ETH, they are participating in the Ethereum proof-of-stake consensus mechanism, which allows the network to reach a consensus about the state of the ledger without the need for mining.
Holders of ETH who participate in staking are rewarded with a share of the transaction fees, also known as staking rewards. This means that by staking their ETH, users can earn a passive income. The amount of staking rewards each user is eligible to receive depends on several factors, including the amount of ETH they are staking, the overall amount of ETH being staked on the network, and the current inflation rate of the network.
Overall, Ethereum staking allows users to earn a passive income while simultaneously helping to secure the Ethereum network. It is an important part of the Ethereum network and helps to ensure the overall health and stability of the Ethereum blockchain.
How to stake ETH?
For the vast majority of users, the requirement of having 32 ETH to become an Ethereum validator can be prohibitively expensive. In addition, setting up and running one’s own node can be a difficult and time-consuming process that requires specialized knowledge and hardware.
Staked ETH is locked until Shanghai, the next major Ethereum update, goes live on the mainnnet.
As an alternative, users can participate in staking pools to earn ETH staking rewards. While staking pools typically offer lower returns than solo staking, they are easier to set up and require a smaller amount of ETH. Popular staking pool services include Lido DAO and Binance Staking, which charge a fee for their services and distribute ETH rewards in the form of STETH and BETH tokens.
In the following sections, we’ll focus on Binance ETH 2.0 Staking, one of the leading Ethereum staking platforms in the industry.
How to stake Ethereum and earn ETH 2.0 rewards on Binance?
The entire process of staking Ethereum on Binance takes just a couple of clicks, making it one of the most accessible solutions in the space. First, you’ll have to make sure that you have ETH funds in your Binance account. If you don’t yet have ETH in the wallet, you can easily buy it through Binance’s spot market offering, or convert existing crypto funds to ETH. You can use the Swap Farming solution to earn BNB rewards when converting crypto.
With ETH available in your account, we can move on to describing how to stake ETH. Open Binance ETH 2.0 Staking platform to get started.
Step 1: Log in to your Binance account and open ETH 2.0 Staking
As mentioned before, you’ll first need to log in to your Binance account. Then, select “ETH 2.0” from the “Earn” drop-down menu.
Step 2: Click “Stake Now”
From the Binance ETH 2.0 Staking homepage, click on the “Stake Now” button that is located in the top left. A pop-up window will appear.
Step 3: Enter the amount of ETH you wish to stake
Enter the amount of Ethereum you would like to stake. On the right side of the screen, you’ll find the interest distribution date (which is yet unknown), and other relevant information. Click “Confirm” to proceed.
Keep in mind that the ETH funds allocated for staking will remain locked until the Shanghai update goes live on the Ethereum mainnet.
Step 4: Receive a corresponding amount of BETH and start earning Ethereum staking rewards
Congratulations, you’ve successfully staked your ETH and will begin earning staking rewards shortly. Keep in mind that a corresponding amount of BETH will be deposited to your spot account, at a 1:1 ratio of your staked ETH.
The on-chain rewards will be distributed in the form of BETH. BETH can be freely exchanged for other cryptocurrencies in the markets, which means that Binance Staking users benefit from increased liquidity. The entire process of staking ETH, including the mechanics of BETH and the redemption process, is outlined on the Binance ETH 2.0 Staking homepage.
With that in mind, let’s explore the benefits afforded by BETH and other advantages of the Binance Staking platform in more detail.
What are the benefits of Binance ETH 2.0 Staking?
Compared to other platforms and approaches that allow users to earn staking rewards, Binance offers several perks that set its service apart from competitors. These benefits include:
Retain liquidity through BETH
BETH is a tokenized representation of ETH that users receive upon staking their Ethereum on Binance. This affords them the opportunity to use the full value of locked ETH and use BETH as they please. After the Shanghai update, BETH will become fully redeemable for ETH, at a 1:1 ratio.
Also, BETH can be obtained via spot markets, which means that users can benefit from earning Ethereum staking rewards without actually having to buy and stake ETH.
Easy to use
Staking Ethereum on Binance takes only a couple of steps to complete and is incredibly easy to use. In addition, the service provides simple explanations of each step, making it easy for newcomers to understand and participate in the process of staking Ethereum. Also, those who use Binance Staking do not have to worry about taking care of their own security keys, as is the case when staking as an individual user.
Low ETH requirement
The low ETH entry requirement is one of the most important benefits of Binance’s staking offering. Since the minimum deposit is just 0.0001 ETH, virtually anyone can afford to use the service.
Up to 11.2% APR
With an Annual Percentage Rate (APR) of over 11%, Binance Staking offers one of the highest yearly rewards rates in the Ethereum staking space. Here’s a quick comparison between Binance, and other popular Ethereum staking services in the market.
In addition to offering exceptionally high rewards, Binance covers all slashing risks, which means that users receive the full share of staking rewards even if there are some problems with transactions validation.
Final Thoughts – Binance ETH 2.0 Staking
It is widely expected that ETH that is staked will get unlocked with the release of the Shanghai update sometime next year. Ethereum devs have recently reached an agreement on the mainnnet rollout for Shanghai and are targeting March 2023 for release, according to the latest reports. It is worth noting that the Merge saw several multi-month delays, so the March release for Shanghai should likely be taken with a grain of salt.
This is the main reason why solutions like Binance ETH 2.0 Staking, which allow users to leverage the passive income benefits of Ethereum staking, while retaining liquidity via tokenized assets (in Binance’s case, BETH), are becoming increasingly popular recently.
Other important reasons why users are flocking to services such as Binance Staking are the ease of use and the incredibly low barrier to entry.
Hopefully, this article helped you understand what Ethereum staking is and how you can start earning ETH 2.0 rewards on Binance.
