Crypto News
Total Ethereum (ETH) Staked On Lido Finance Reaches New Milestone
Ever since Ethereum transitioned to a proof of stake (PoS) consensus mechanism, the popularity of liquid staking protocols such as Lido Finance and total ETH staked has increased over time. According to the latest update, the total ETH stake in one of the widely used staking protocols, Lido finance, has set a new milestone, with the total amount of ETH staked reaching $5 million. Overall, more than 16 million in ETH worth $25.6 billion at the time of writing have been deposited into Ethereum’s Beacon Chain staking contract, indicating the rapid adoption of the Ethereum network.
Ethereum developers are also working to enable the withdrawal of the ETH staked. According to an update from Parithosh Jayanthi, an Ethereum Foundation developer, the first public withdrawals testnet, dubbed the ‘Zhejiang public testnet,’ is set to launch as soon as on February 1 at 3:00 pm UTC. The Shanghai and Capella testnets will follow shortly after.
After the slight retracement seen from multiple altcoins on the price chart, ETH has rallied significantly, reaching a 12-week high in the early hours of January 30. In the past 30 days, ETH has increased more than 30%, breaking out of the $1,300 zone seen late last year. ETH is following suit with the rest of the crypto market rally, trading at $1,593 at the time of writing, up by nearly 1%, with a 24-hour trading volume standing steadily above $8.5 billion.
The blockchain has significantly improved recently, with the Ethereum on-chain activity recording a new high following the crypto market revival. The total number of ETH transferred daily on the network surpassed 1 million in recent years. In contrast, total unique addresses also surged roughly 10%, reaching an all-time high of 221 million.
This news is good for Ethereum as the total ETH staked has set a new milestone and the blockchain has significantly improved. The first public withdrawals testnet is also set to launch as soon as February 1, allowing stakers to withdraw their coins. #Ethereum #Staking #Blockchain #CryptoMarket #CryptoNews
The post Total Ethereum (ETH) Staked On Lido Finance Reaches New Milestone first appeared on Byte Syze Crypto.
Tron founder and advisor to the exchange, Justin Sun, has stated that Huobi could get a Hong Kong crypto license in six to twelve months. Specifically, Sun told Coindesk that the exchange applied to become a virtual asset service provider (VASP) last week. Additionally, Sun discussed the process of the VASP application and his belief that the crypto exchange could have an answer by the end of the year. Huobi had recently relocated to Hong Kong, aiming to launch Huobi Hong Kong by the summer. Sun was asked about embracing potential competition in the Canadian market and noted the strict regulatory standards in the country, referring to the Caribbean, Hong Kong, and Japan. There has been no verification of other cryptocurrency exchanges that have applied for a similar license, however, Coindesk reported Sun’s expectation that five to six other exchanges could make the move.
This news is good for Huobi as they are in the process of obtaining a crypto license in Hong Kong, which would allow them to operate in the region and serve customers. Other exchanges may also apply for the license, and the grace period given to the exchange could provide them with the opportunity to get approval in the next six to twelve months.
#Huobi #HongKong #CryptoLicense #VASP #JustinSun
You can read more about this topic here: Watcher Guru: Justin Sun Says Huobi Could Get Hong Kong Crypto License in 6-12 Months
The post Justin Sun Predicts Huobi Crypto Exchange to Secure Hong Kong License in Under a Year first appeared on Byte Syze Crypto.
#CryptoSafety #RugPulls #DefiExploits #ProtectInvestors
You can read more about this topic here: Watcher Guru: Crypto Rug Pulls Outvalued Defi Attacks in May, $45 Million Lost
The post Crypto Rug Pulls: How $45 Million In Defi Attacks Were Lost In May first appeared on Byte Syze Crypto.
The Commodity Futures Trading Commission (CFTC) has proposed a re-modelled rule-set for risk management as part of its effort to respond to the U.S. banking crisis. Commissioner Christy Goldsmith Romero highlighted the need for such regulations due to the risks posed by the emergence of technologies like crypto, AI, and cloud services. The CFTC’s advance notice of proposed rulemaking will be open for public comments for 60 days. The final version will then be voted upon. #CFTC #RiskManagement #Crypto #Regulations
You can read more about this topic here: Watcher Guru: Crypto: U.S. CFTC Looking to Change Risk Rules
The post CFTC Set to Revamp Risk Regulations: How it Impacts the Crypto Industry first appeared on Byte Syze Crypto.
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