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Where it came from and where it is going.

Solana has been a cryptocurrency blockbuster this year, and even 2021. However its token (SOL) went into free fall, following technical difficulties in its network. But did that hinder its growth? Well, not really. In fact, it gained more support- just recently JP Morgan, one of the largest banks in the world gave a vote of […]

Ethereum’s dominance in non-fungible tokens (NFTs) is declining due to high gas fees and excessive congestion, investment banking giant JPMorgan said in a report. In a note published last week, analysts led by Nikolaos Panigirtzoglou even highlighted that Ethereum’s NFT market share has already dropped to 80% from 95% at the beginning of 2021. The blockchain network could be specifically losing its NFT market share to rival Solana, which has been gaining massive traction over the last year. The bank cautioned that if Ethereum’s loss of NFT market share continues this year, it could be a bigger problem for its overall valuation. Another area of Ethereum’s falling dominance is in the decentralized finance (DeFi) sector. Last week, in a note to clients, analysts Nikolaos Panigirtzoglou, wrote: “It looks like, similar to DeFi apps, congestion and high gas fees has been inducing NFT applications to use other blockchains.” Scaling is also required to maintain its dominance in the DeFi sector. According to the strategists, the final phase of the sharding won’t happen before 2023. With sharding being critical for scaling, this means full-blown scaling is at least a year away. In that period, the Ethereum Mainnet risks continued losses of market share to competing networks like Binance Smart Chain, Terra, Fantom, Avalanche, Tron, Polygon including Solana as they have been gaining the biggest share of the DeFi market. These blockchains have already attracted a lot of funding and increased their own user base. The bank noted that by the time sharding of Ethereum is implemented, other ecosystems will grow so extensively that activity won’t return to Ethereum.

The post Ethereum is Losing Out to Solana in NFTs, Claims JPMorgan appeared first on Cryptoknowmics-Crypto News and Media Platform.

A coordinated law enforcement operation has resulted in the arrest of 11 members allegedly belonging to a Nigerian cybercrime gang notorious for perpetrating business email compromise (BEC) attacks targeting more than 50,000 victims in recent years. The disruption of the BEC network is the result of a ten-day investigation dubbed Operation Falcon II undertaken by the Interpol along with

According to a JPMorgan’s analyst, Solana and Tezos have the ability to take on Ethereum’s dominance in the NFT ecosystem. The NFT market is a massive pie that everyone wants a piece of. According to Nikolaos Panigirtzoglou, an analyst at JPMorgan, Ethereum (ETH) was supposedly the dominator in the first phrase. It appears that the [...]

The post Will Rivals Take On Ethereum in the NFT Market? appeared first on Blockonomi.

Altcoins and stablecoins have downsized Bitcoin’s dominance as a means for paying for goods and services online by 27%. This is according to a new report released by Bloomberg, citing data from BitPay. According to BitPay, Ether accounted for 15% of all global payments at merchant stores while stablecoins accounted for 13%. Dogecoin, Shiba Inu, […]

Milo, a Miami-based fintech startup is launching the world’s first crypto mortgage offering for a 30 year-term. Instead of selling one’s bitcoin holdings for mortgage payments, the company now lets Americans and international customers use their Bitcoin stacks as collateral for purchasing real estate in the US. The solution allows clients to continue with their Bitcoin holdings while diversifying into real estate, all the while keeping the potential price appreciation of both. Commenting on the development, Josip Rupena, Milo founder and CEO, said: “There are countless stories of people buying property with bitcoin proceeds only to see it increase in value and be worth millions more. With our new crypto mortgage, we can expand our offerings to consumers that were previously denied by other banking firms just for having crypto. We have an opportunity to make sure that doesn’t happen anymore and their bitcoin wealth can now help them buy a property.” Milo has already granted some loans as part of its early-access stage, and expects the service will be available to most applicants on its waiting list in the coming months.  However, as of yet, it remains unclear as to how much Bitcoin (BTC) will be needed to secure a loan, or the level of over-collateralization needed to balance out the cryptocurrency’s volatility. Miami Mayor Francis Suarez, a proponent of bitcoin, also commented on Milo’s new offering, in a statement that the bitcoin mortgage is a “groundbreaking achievement” for advancing U.S. dominance in the Bitcoin ecosystem. “To become the Capital of Capital, Miami needs companies like Milo who are willing to innovate and ideate,” he added. Milo isn’t the first company to dabble into crypto mortgages. In Aug 2021, United Wholesale Mortgage tested crypto mortgage repayments with Ether (ETH) and Bitcoin (BTC) in a pilot program. However, a month later, the plan was scrapped due to regulatory uncertainty.

The post Fintech Startup Milo Launches the First-Ever US Crypto Mortgage appeared first on Cryptoknowmics-Crypto News and Media Platform.

The post Is This The Reason Why Metaverse And NFTs Have Been Failing In Uplifting The Crypto Market? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

The cryptosphere has been missing its flight to the stratosphere, as the business has been grounded from euphoric flights. In the midst of the burdening market cycle, which has slashed the valuation of the market by a trillion. Consecutively, the industry’s market cap has lost its threshold at $2.0 Trillion again. And is presently at …

2021 was undoubtedly a revolutionary one for cryptocurrencies, especially due to the mainstream emergence of decentralized finance (DeFi) and non-fungible tokens (NFT). However, good times don’t last forever. And, many are fearful that this year might not be as lucrative for investors now that signs of a slowdown are evident. Price no bound Ethereum‘s utility […]

The post Will This Perpetual Limitation Take Solana’s Sol Down To $100 This Alt Season? appeared first on Coinpedia - Fintech & Cryptocurreny News Media| Crypto Guide

The global crypto market is now an address to a host of potential protocols, which have turned tables for the industry. The protocols have also managed to uplift the diverse sectors of the industry, with robust and lucrative fundamentals. While legacy protocols have been imperative in widespread publicity of the industry. It is the courtesy …

John Wu, President of blockchain startup Ava Labs — which develops the software for the Avalanche ($AVAX) blockchain — made a number of interesting predictions for the crypto market in 2022. What is Avalanche ($AVAX)? Below is a brief description of Avalanche from its developer documentation: “Avalanche is an open-source platform for launching decentralized applications and enterprise blockchain […]