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Here Is How Ethereum (ETH) Could Continue to Fumble in the Markets

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Ethereum

At the height of the cryptocurrency boom of last December into January this year, two things happened to Ethereum (ETH). Firstly, it was the preferred coin for funding ICOs. The second is that as a result, its demand skyrocketed to peak levels of $1,400 aided by the general crypto bull run of that period. Now the ICOs that were funded during this peak period, have seen their holdings diminish in value as ETH is now valued at $322. This is a drop in value of 77%. Imagine if an ICO had raised $10 Million in ETH back then, that value is now valued at $2.3 Million and could bring challenges in funding the project.

Also worth analyzing, is ETH’s recent weakness after the SEC decided to delay their verdict on the Bitcoin ETF up until the 30th of September. We saw ETH reach new lows of $309 with some predicting that the fall might continue to the upper $200 levels.

It is with this worrying trend that perhaps Ethereum might be slowly becoming obsolete in a fast-paced crypto and blockchain ecosystem. The platform still has scalability issues as well as security vulnerabilities with the smart contracts created on it. As the Ethereum Foundation looks for solutions, other blockchain projects are presenting themselves from all directions and having already solved some of the Ethereum platform issues.

First on the list is the Tron (TRX) project that can handle 80 times more transactions per second than the Ethereum platform. As a matter of fact, the newly released TRON network is doing 308,754 transactions per day, compared to 641,927 Ethereum’s transactions per day, and at the moment of writing this. This means that the TRON network is halfway towards eclipsing Ethereum’s daily transactions, and its Mainnet is hardly 2 months old.

Also, the Tron network uses bandwidth rather than gas. Therefore, transactions on the Tron network are virtually free. More users are sure to flock to the Tron network for the cheap transactions.

Other potential threats to Ethereums’ dominance of smart contracts are Cardano (ADA), Zilliqa (ZIL) and IOSToken (IOST). All these projects have showcased that they can increase the transactions per second (throughput) and make smart contracts on their platform more secure than those on the Ethereum Platform.

Therefore, Ethereum might be headed for further decline before it can be dominant again. The resurgence of Ethereum will be dependant on whether they implement the scalability solutions that have been recommended for the platform. Otherwise, ETH will be the choice currency by traders who simply want to short it.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming

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Singapore, Singapore, 26th February, 2021, // ChainWire //

Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming

Unifi Protocol announces the launch of Unifi Farms. The most revolutionary part of Unifi Farms is there is no staking of the liquidity token required. The public beta launch of Unifi Farms V1 will take place on not one, not two, but six different blockchains at once. 

Unifi is proud to announce the upcoming public beta launch of Unifi Farms V1 on Binance Smart Chain!

Unifi Protocol is not a clone of other DeFi projects, which has led to some very unique innovations.  Unifi Farms will continue this tradition of shattering expectations and introducing features on Unifi Farms not being offered anywhere else in DeFi!   

Unifi Farms will have several advantages over old-fashioned DeFi farms.  The one that will likely be the most revolutionary with Unifi Farms is there is no staking of the liquidity token required! Welcome to the world of true auto-farming on Unifi, where we refer to it as No-Stake Farming.

Why is farming without staking so revolutionary?

Savings! Everyone agrees the high network fees on Ethereum have a large impact on the farming rewards earned by liquidity providers.  Even on low cost networks such as Binance Smart Chain, the network fee is a cost that reduces the benefit of farming. 

To participate in most farms, the user pays at least five network fees.…

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Altcoins

DeFi Wizard Raises $750k from Blockchain Investment Bigshots, to Simplify Multi-chain DeFi Legos

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Bengaluru,, India, 24th February, 2021, // ChainWire //

In order to give shape to their ‘one-click DeFi contracts creation’ dream, Defi Wizard has raised a total of $750,000 from X21 Digital, AU21 Capital, Amsterdam-based TRG Capital, DeltaHub Capital, NGC Ventures, and ExNetwork.

Speaking on latest development Defi wizard founder and CEO, Anand Kamath said: 

“It gives us immense pleasure to announce that our platform, DeFi Wizard has attracted the attention of leading blockchain investors and funds.”

DeFi Wizard aims to help cryptocurrency companies and businesses seamlessly create digital assets, without any hassles, with the objective of becoming an all-in-one token creation platform. 

Investment Usage

This recently concluded fundraising round is an important milestone for Defi Wizard. It will fuel the development of the platform along with operations/maintenance.

Other ways in which Defi wizard will receive assistance is with liquidity bootstrapping for Uniswap listing, alongwith added global and regional promotional efforts to generate awareness for the platform. 

About Defi Wizard

Defi wizard is a dashboard for building DeFi (decentralized finance) smart contracts with a few clicks. It offers real-time programmer analytics and allows users to create smart contracts for ERC20 / BEP20 / EDST, staking, yield farming, governance, cross-chain bridge, gasless relayer baked in.

As per the latest statistics, more than five projects are already using DeFi Wizard’s staking services and more than $100M AUM has been locked through the smart contracts generated through the…

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Altcoins

99Bitcoins takes over the “Dead Coins” project to become the cryptocurrency undertaker

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Singapore, Singapore, 17th February, 2021, // ChainWire //

99Bitcoins, an educational website that maintains a list of Bitcoin obituaries made by the media, has taken over the Dead Coins project as well. This move effectively crowns 99Bitcoins as “The undertaker of the cryptoverse”.

Deadcoins.com was established in late 2017 to document the death of thousands of altcoins that popped up during the cryptocurrency mania of that time. The idea was simple – create a list of coins that have ceased to exist after the hype died down.

A coin can become “dead” due to a variety of reasons such as its development being halted, having no one that uses or trades it, being exposed as a scam and more. While the project was initially maintained only by its founders, it was later outsourced to the cryptocurrency community which was allowed to add their own dead coins.

“I think the dead coins project is a brilliant idea that needs a bit of polishing” says Ofir Beigel, owner and founder of 99Bitcoins. “The fact that anyone can add a dead coin themselves made the list of coins very inaccurate. We’ve spent days going through the complete list and sifted out all of the coins that were buried alive, so to speak. For example, Bitcoin, Tron, Dogecoin and Tether are just some of the coins that were listed when we took…

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