3 days ago
EARLY ACCESS - Ethereum’s Three Front War w/drakefjustin
For Citizens Only
Unlock Access🔓📷
https://www.bankless.com/p...
For Citizens Only
Unlock Access🔓📷
https://www.bankless.com/p...
9 days ago
LIVE NOW - ETH is Money If We Choose It To Be | Ansgar & Caspar
ethereum Researchers adietrich and casparschwa
join us at the Bankless Summit to present the dangers of the ETH staking yield and how we can course-correct Ethereum’s monetary policy. Rejecting staking yield & embracing the burn
--------------
TIMESTAMPS
0:00 Intro
2:02 Staking as the Poisoned Fruit
23:10 Reject the Poison & Embrace the Burn
26:10 Questions
ethereum Researchers adietrich and casparschwa
join us at the Bankless Summit to present the dangers of the ETH staking yield and how we can course-correct Ethereum’s monetary policy. Rejecting staking yield & embracing the burn
--------------
TIMESTAMPS
0:00 Intro
2:02 Staking as the Poisoned Fruit
23:10 Reject the Poison & Embrace the Burn
26:10 Questions
21 days ago
🔥 Just another day on Maestro
User flipped 0.064 $ETH into 25.843 ETH ( $VIVEK )
+39991% in under 8h
Ready to trade like this? 🎯
Make your move with #MaestroBots → http://t.me/Maestro
#TradingBot #defi #Ethereum
User flipped 0.064 $ETH into 25.843 ETH ( $VIVEK )
+39991% in under 8h
Ready to trade like this? 🎯
Make your move with #MaestroBots → http://t.me/Maestro
#TradingBot #defi #Ethereum
1 month ago
Don't just watch the market. Be ready for it. 🚀
Make Maestro Scraper your extra edge.
Catch it all with:
🕒 Multi-channel monitoring 24/7
🔍 Smart duplicate filtering
👥 Admin/User/Pinned/Bot message control
⚡️ Instant contract forwarding to the bot
Maestro Scraper has your back while you touch grass.
https://docs.maestrobots.c...
Scraper support for #Ethereum , #BSC , #Solana , #TRON , #Base , #Arbitrum , and #TON
Make Maestro Scraper your extra edge.
Catch it all with:
🕒 Multi-channel monitoring 24/7
🔍 Smart duplicate filtering
👥 Admin/User/Pinned/Bot message control
⚡️ Instant contract forwarding to the bot
Maestro Scraper has your back while you touch grass.
https://docs.maestrobots.c...
Scraper support for #Ethereum , #BSC , #Solana , #TRON , #Base , #Arbitrum , and #TON
1 month ago
(E)
CertiK is Web3's leading smart contract auditor and provides a comprehensive suite of tools to secure the industry at scale.
Certik— Airdrop Answers to questions about the quest Certik
Guide in Teletype https://teletype.in/olesc... #SnoopDogg #Solana #crypto #SOL #Blockchain #coinmarketcap #USDT #HashCEX #SoundCloud #Ethereum #TRON #BinanceSmartChain #retardio
Certik— Airdrop Answers to questions about the quest Certik
Guide in Teletype https://teletype.in/olesc... #SnoopDogg #Solana #crypto #SOL #Blockchain #coinmarketcap #USDT #HashCEX #SoundCloud #Ethereum #TRON #BinanceSmartChain #retardio
2 months ago
Will Ethereum remain institutions' top choice?
jonahrobrts breaks down the blockchain competition for TradFi's attention 🤼♂️
========================================
Disruption. Digitization. Financial inclusion. Future-proofing.
What do all of these oft-repeated buzzwords have in common? They’ve all been used by crypto-pilled associates at TradFi firms to pitch their bosses on the exciting upside of blockchain tech. This year, it seems, the executives are listening.
Institutions jumped into crypto more headlong than ever in 2024. Their moves are starting to bridge the gap between TradFi and DeFi. However, this article isn’t focused on why firms are building onchain. Instead, we are focusing on where these funds are choosing to build.
----------------------------
What’s Happening on Ethereum?
Ethereum is the world’s largest smart-contract blockchain network. It has secured over $90 billion in RWAs, including stablecoins. 2024 has been a big year for the adoption of non-stablecoin RWAs on Ethereum as well, with the network growing its onchain U.S. treasuries, bonds, and cash equivalents from $800 million to over $1 .5 billion and overall non-stablecoin RWA value to $2 .9 billion.
Some of the major players building on Ethereum this year include
Visa, BlackRock and FTI_US
Earlier this month, Visa announced that they are building the Visa Tokenized Asset Platform (VTAP) on Ethereum. This is the company’s biggest step toward crypto adoption thus far. VTAP enables Visa to issue and manage fiat-backed tokens on Ethereum. It is intended to be a sandbox for participating financial institutional partners to create and experiment with fiat-backed tokens. They expect to begin piloting the platform with Spanish multinational bank BBVA in 2025. While the VTAP program is certainly an experiment, it gives credit to the thesis that TradFi will migrate its operations onto Ethereum over the coming decades.
----------------------------
Yet, the success of Ethereum’s competitors highlights a critical point: institutions are no longer bound to a single network. While Ethereum is foundational, blockchains like Solana and Stellar provide alternatives that are increasingly hard to ignore. However, they also present novel interoperability concerns.
Interoperability is central to the future of institutional blockchain adoption. As Visa states in their VTAP press release announcement, the largest benefits of building onchain include easy integration, programmability, and interoperability. Institutions that venture onto non-EVM chains like Solana or Stellar may face challenges in asset liquidity and protocol compatibility. This can lead to reliance on third-party services to bridge assets between chains, which introduces complexity and security risks. Ethereum’s widespread use means that staying within the EVM ecosystem—whether through Ethereum or Layer 2 solutions—remains the simplest and most secure option for institutions.
----------------------------
However, for Ethereum to maintain its lead in the race toward institutional adoption, it must continue to balance world-class security and stability with the performance and scalability that competing chains continue to push. The race to capture the attention of institutional finance will be won by the network that can not only meet today’s demands but also anticipate the needs of tomorrow. Ethereum is well-positioned for now, but staying on top will require constant evolution.
jonahrobrts breaks down the blockchain competition for TradFi's attention 🤼♂️
========================================
Disruption. Digitization. Financial inclusion. Future-proofing.
What do all of these oft-repeated buzzwords have in common? They’ve all been used by crypto-pilled associates at TradFi firms to pitch their bosses on the exciting upside of blockchain tech. This year, it seems, the executives are listening.
Institutions jumped into crypto more headlong than ever in 2024. Their moves are starting to bridge the gap between TradFi and DeFi. However, this article isn’t focused on why firms are building onchain. Instead, we are focusing on where these funds are choosing to build.
----------------------------
What’s Happening on Ethereum?
Ethereum is the world’s largest smart-contract blockchain network. It has secured over $90 billion in RWAs, including stablecoins. 2024 has been a big year for the adoption of non-stablecoin RWAs on Ethereum as well, with the network growing its onchain U.S. treasuries, bonds, and cash equivalents from $800 million to over $1 .5 billion and overall non-stablecoin RWA value to $2 .9 billion.
Some of the major players building on Ethereum this year include
Visa, BlackRock and FTI_US
Earlier this month, Visa announced that they are building the Visa Tokenized Asset Platform (VTAP) on Ethereum. This is the company’s biggest step toward crypto adoption thus far. VTAP enables Visa to issue and manage fiat-backed tokens on Ethereum. It is intended to be a sandbox for participating financial institutional partners to create and experiment with fiat-backed tokens. They expect to begin piloting the platform with Spanish multinational bank BBVA in 2025. While the VTAP program is certainly an experiment, it gives credit to the thesis that TradFi will migrate its operations onto Ethereum over the coming decades.
----------------------------
Yet, the success of Ethereum’s competitors highlights a critical point: institutions are no longer bound to a single network. While Ethereum is foundational, blockchains like Solana and Stellar provide alternatives that are increasingly hard to ignore. However, they also present novel interoperability concerns.
Interoperability is central to the future of institutional blockchain adoption. As Visa states in their VTAP press release announcement, the largest benefits of building onchain include easy integration, programmability, and interoperability. Institutions that venture onto non-EVM chains like Solana or Stellar may face challenges in asset liquidity and protocol compatibility. This can lead to reliance on third-party services to bridge assets between chains, which introduces complexity and security risks. Ethereum’s widespread use means that staying within the EVM ecosystem—whether through Ethereum or Layer 2 solutions—remains the simplest and most secure option for institutions.
----------------------------
However, for Ethereum to maintain its lead in the race toward institutional adoption, it must continue to balance world-class security and stability with the performance and scalability that competing chains continue to push. The race to capture the attention of institutional finance will be won by the network that can not only meet today’s demands but also anticipate the needs of tomorrow. Ethereum is well-positioned for now, but staying on top will require constant evolution.
2 months ago
💬 BlackRock CEO Larry Fink says Ethereum can grow “spectacularly.”
He also states that Bitcoin is an asset class in its own right.
"BlackRock is in discussions with institutions around the world"
"Bitcoin is an alternative to other commodities like gold"
He also states that Bitcoin is an asset class in its own right.
"BlackRock is in discussions with institutions around the world"
"Bitcoin is an alternative to other commodities like gold"
2 months ago
🎖️ Vitalik Buterin, a serious candidate for the Nobel Prize in Economics?
At least that's what economists Tyler Cowen and Alex Tabarrok think.
They praise the performance of Ethereum's transition from POW to POS:
“Have you ever seen those videos of those guys in Saudi Arabia where they’re changing the tires of the car while the car is moving? That’s what Ethereum did. Amazing.”
Alex Tabarrok says Satoshi Nakamoto should also receive the award, but he thinks he is dead.
At least that's what economists Tyler Cowen and Alex Tabarrok think.
They praise the performance of Ethereum's transition from POW to POS:
“Have you ever seen those videos of those guys in Saudi Arabia where they’re changing the tires of the car while the car is moving? That’s what Ethereum did. Amazing.”
Alex Tabarrok says Satoshi Nakamoto should also receive the award, but he thinks he is dead.
2 months ago
🔮 Standard Chartered predicts a $SOL that could be multiplied by 5, a $ETH by 4 and a $BTC multiplied by 3 by the end of 2025 if Donald Trump wins the American presidential election.
Standard Chartered's Geoff Kendrick believes that if Kamala Harris becomes president, "Ethereum will hit the $7 ,000 level by the end of 2025."
Kendrick sees bitcoin reaching $200 ,000 by the end of 2025, regardless of the election outcome.
"The introduction of a Solana exchange-traded fund (ETF) would be more likely under a Trump presidency."
Standard Chartered's Geoff Kendrick believes that if Kamala Harris becomes president, "Ethereum will hit the $7 ,000 level by the end of 2025."
Kendrick sees bitcoin reaching $200 ,000 by the end of 2025, regardless of the election outcome.
"The introduction of a Solana exchange-traded fund (ETF) would be more likely under a Trump presidency."
2 months ago
Based Rollups
What are they, why do they exist, and which projects are already making waves?
A 101 explainer 👇
==================================
Scaling #Ethereum has been one of the most discussed challenges in crypto.
To address this, the community chose a rollup-centric approach. The idea is simple: Instead of hosting all applications on Ethereum, the focus is on rollups that offer faster, cheaper transactions while still settling back on Ethereum. As a result, you get faster, cheaper transactions, but still keep Ethereum’s security.
They're bringing more users and value to Ethereum, however, concerns remain about their reliance on centralized sequencers and liquidity fragmentation across chains.
This is where based rollups come in. They integrate more closely with Ethereum's infrastructure, helping retain value within the ecosystem. This new method of building rollups could bring additional value to Ethereum and $ETH .
What are Based rollups?
Based rollups, or L1-sequenced rollups, are a type of rollup where the base L1 chain, like Ethereum, manages transaction sequencing directly.
Unlike traditional rollups that rely on their own sequencers, based rollups tap into the security, liveness, and decentralization of the L1 by outsourcing transaction sequencing to the L1’s infrastructure. This infrastructure includes proposers, searchers, builders, and other actors who permissionlessly include based rollup blocks in L1 blocks.
How do Based rollups work?
Based rollups use the L1 for consensus, data availability, and settlement layers, while handling execution independently. For instance, when Ethereum is the base L1, the key layers of based rollups are as follows:
1. Execution Layer — Managed by the rollup itself, where transactions are executed off-chain.
2. Consensus Layer — Relies on Ethereum validators to sequence transactions.
3. Data Availability Layer — Uses Ethereum as the DA layer to ensure that transaction data is available for validation by anyone.
4. Settlement Layer — Also part of Ethereum, where final transaction states of the rollup are recorded.
Based rollups use Ethereum for everything from ordering transactions to settling them. While this approach may not seem radically different from traditional rollups, it fundamentally shifts how sequencing is handled. Instead of relying solely on separate sequencers, based rollups leverage Ethereum itself for transaction sequencing.
Why based rollups?
As Justin Drake outlined in his original post, based rollups are worth your attention for several reasons:
1. Inherited Liveness and Decentralization — One of the key advantages of based rollups is their ability to inherit the liveness guarantees of the base L1 chain. As long as the L1 is operational, so is the rollup.
2. Economic Alignment with L1 — The economic model of based rollups creates a mutually beneficial relationship with the L1. Priority fees and MEV from these rollups naturally flows to the L1. This synergy doesn’t just add value to the base layer, it also boosts the legitimacy and brand awareness of the rollups themselves, thanks to Ethereum’s community.
3. Cost Efficiency — Outsourcing sequencing to Ethereum reduces development costs, accelerates time to market, and lowers user costs (especially at scale) for based rollups.
However, based rollups have trade-offs. They sacrifice some profitability by relying on Ethereum for sequencing, missing out on priority fees and MEV. Additionally, they contend with Ethereum's inherent challenges, such as slow block times, which can cause latency issues.
There's a real debate that these changes might compromise the simplicity and security that initially made based rollups appealing.
What are they, why do they exist, and which projects are already making waves?
A 101 explainer 👇
==================================
Scaling #Ethereum has been one of the most discussed challenges in crypto.
To address this, the community chose a rollup-centric approach. The idea is simple: Instead of hosting all applications on Ethereum, the focus is on rollups that offer faster, cheaper transactions while still settling back on Ethereum. As a result, you get faster, cheaper transactions, but still keep Ethereum’s security.
They're bringing more users and value to Ethereum, however, concerns remain about their reliance on centralized sequencers and liquidity fragmentation across chains.
This is where based rollups come in. They integrate more closely with Ethereum's infrastructure, helping retain value within the ecosystem. This new method of building rollups could bring additional value to Ethereum and $ETH .
What are Based rollups?
Based rollups, or L1-sequenced rollups, are a type of rollup where the base L1 chain, like Ethereum, manages transaction sequencing directly.
Unlike traditional rollups that rely on their own sequencers, based rollups tap into the security, liveness, and decentralization of the L1 by outsourcing transaction sequencing to the L1’s infrastructure. This infrastructure includes proposers, searchers, builders, and other actors who permissionlessly include based rollup blocks in L1 blocks.
How do Based rollups work?
Based rollups use the L1 for consensus, data availability, and settlement layers, while handling execution independently. For instance, when Ethereum is the base L1, the key layers of based rollups are as follows:
1. Execution Layer — Managed by the rollup itself, where transactions are executed off-chain.
2. Consensus Layer — Relies on Ethereum validators to sequence transactions.
3. Data Availability Layer — Uses Ethereum as the DA layer to ensure that transaction data is available for validation by anyone.
4. Settlement Layer — Also part of Ethereum, where final transaction states of the rollup are recorded.
Based rollups use Ethereum for everything from ordering transactions to settling them. While this approach may not seem radically different from traditional rollups, it fundamentally shifts how sequencing is handled. Instead of relying solely on separate sequencers, based rollups leverage Ethereum itself for transaction sequencing.
Why based rollups?
As Justin Drake outlined in his original post, based rollups are worth your attention for several reasons:
1. Inherited Liveness and Decentralization — One of the key advantages of based rollups is their ability to inherit the liveness guarantees of the base L1 chain. As long as the L1 is operational, so is the rollup.
2. Economic Alignment with L1 — The economic model of based rollups creates a mutually beneficial relationship with the L1. Priority fees and MEV from these rollups naturally flows to the L1. This synergy doesn’t just add value to the base layer, it also boosts the legitimacy and brand awareness of the rollups themselves, thanks to Ethereum’s community.
3. Cost Efficiency — Outsourcing sequencing to Ethereum reduces development costs, accelerates time to market, and lowers user costs (especially at scale) for based rollups.
However, based rollups have trade-offs. They sacrifice some profitability by relying on Ethereum for sequencing, missing out on priority fees and MEV. Additionally, they contend with Ethereum's inherent challenges, such as slow block times, which can cause latency issues.
There's a real debate that these changes might compromise the simplicity and security that initially made based rollups appealing.
2 months ago
In April 2024 an elderly victim from the US was targeted by Indian call scammers posing as Coinbase support resulting in a large portion of their life savings stolen.
Pleased to share that I helped recover $275K which was recently seized and will be sent back to them.
Theft txn hash
30125031d32a3a2ec9a6963d218bf2494d4392d9444586061a97d84511479346
During my research I found $5M + stolen from other victims of this group which were laundered from Ethereum/Bitcoin to Tron via centralized exchanges before stablecoins were transferred to OTCs.
Pleased to share that I helped recover $275K which was recently seized and will be sent back to them.
Theft txn hash
30125031d32a3a2ec9a6963d218bf2494d4392d9444586061a97d84511479346
During my research I found $5M + stolen from other victims of this group which were laundered from Ethereum/Bitcoin to Tron via centralized exchanges before stablecoins were transferred to OTCs.
2 months ago
🚨 Vitalik Buterin suggests lowering Ethereum's staking threshold to 16 or 24 ETH.
Buterin wants to increase accessibility and scalability, with the possibility of eventually lowering it to 1 $ETH
Buterin wants to increase accessibility and scalability, with the possibility of eventually lowering it to 1 $ETH
2 months ago
🚨 Vitalik Buterin proposes metrics to measure Ethereum's "alignment".
Ethereum-based projects should have metrics to aim for, he said, to ensure they are collectively building “something that feels like a single Ethereum ecosystem.”
Ethereum-based projects should have metrics to aim for, he said, to ensure they are collectively building “something that feels like a single Ethereum ecosystem.”
2 months ago
Solana DEX volume surpasses Ethereum and other blockchains, reaching a multi-month high of 27% market dominance.
2 months ago
The US market for spot Ethereum exchange-traded funds (ETFs) has seen a shift in investor sentiment, with the largest weekly inflows recorded since early August.
The surge marks the end of a six-week streak of consecutive outflows, signaling renewed enthusiasm among investors.
According to data from SoSoValue, US-based spot Ethereum ETFs saw inflows totaling $58 .7 million on Friday alone.
This helped the funds achieve a net positive inflow of $84 .5 million for the week, breaking a six-week cycle of net outflows.
The surge marks the end of a six-week streak of consecutive outflows, signaling renewed enthusiasm among investors.
According to data from SoSoValue, US-based spot Ethereum ETFs saw inflows totaling $58 .7 million on Friday alone.
This helped the funds achieve a net positive inflow of $84 .5 million for the week, breaking a six-week cycle of net outflows.
2 months ago
At Solana Breakpoint 2024, Charles d’Haussy, CEO of the dYdX Foundation, discussed the protocols’s upcoming enhancements and muse on Solana’s growth.
While dYdX, one of the crypto industry’s oldest decentralized perpetual exchanges, runs its own sovereign appchain, the platform recently integrated Solana-based assets into its platform.
The move brought greater exposure to a wealth of Solana ecosystem tokens, allowing dYdX traders to express their opinion on assets like $SOL , $JUP , and $WIF .
Drawing on his rich experience in the industry, d’Haussy made fascinating remarks about Solana culture.
Solana Builder Energy
When dYdX governance moved to include more Solana-based assets via a Raydium integration in June, d’Haussy and the dYdX were hesitant to approach the Solana community.
“When we started to reach out to the Solana ecosystem, I was kind of cautious and trying to be gentle, not knowing exactly how we would be welcome for conversations about possible integration”
From an outside perspective, blockchain tribalism formed a perceived barrier to entry. Chain maximalism is a serious obstacle within the industry, which is further exacerbated by obstinate and outspoken communities on social media.
Fortunately, away from the noise and distractions of social media, the teams actually building these ecosystems are eager to collaborate and push the collectively push the industry forward. d’Haussy remarked that the Solana Foundation was welcoming and receptive to working alongside teams from alternative ecosystems in the pursuit of progress.
“We were really warmly welcomed. I think the Solana ecosystem has showed us, you want to connect to the Solana ecosystem and bring more mindshare to the Solana ecosystem via your own chain? How can we help you?… The Solana Foundation has been extremely welcoming, connecting us to plenty of people. And the builders were also very welcoming.”
“Sometimes Twitter makes you think that this is all tribes and they look at each other from afar. But the reality is the real builders and the people which are in the industry long enough and for the long term, they are very friendly and they want to grow the cake for everyone.”
Additionally, d’Haussy asserted that “Solana is like Ethereum five years ago”, highlighting the energy and hunger shown by developers building innovative products. The CEO drew comparisons between the atmosphere of week’s earlier Token 2049 conference and Solana Breakpoint.
“We are just out of three days of Token 2049, which is much more salesy and marketing and towards trading activities, which is really the audience of DYDX. So, that was perfect, we had a blast over there. Suddenly, you wake up the next morning and you're going to Solana Breakpoint.”
“It's a bit of a shock for me because suddenly we are surrounded by devs. So, there is this kind of change of seasons overnight between the projects and the business development atmosphere of Token 2049 and here the business, the atmosphere of building here at Solana.”
Blockchain tribalism is a regrettable obstacle, but easily overcome. As evidenced by dYdX and the Solana, teams from different chains can always find ways to work together in a way that benefits both parties and further advances the space.
While dYdX, one of the crypto industry’s oldest decentralized perpetual exchanges, runs its own sovereign appchain, the platform recently integrated Solana-based assets into its platform.
The move brought greater exposure to a wealth of Solana ecosystem tokens, allowing dYdX traders to express their opinion on assets like $SOL , $JUP , and $WIF .
Drawing on his rich experience in the industry, d’Haussy made fascinating remarks about Solana culture.
Solana Builder Energy
When dYdX governance moved to include more Solana-based assets via a Raydium integration in June, d’Haussy and the dYdX were hesitant to approach the Solana community.
“When we started to reach out to the Solana ecosystem, I was kind of cautious and trying to be gentle, not knowing exactly how we would be welcome for conversations about possible integration”
From an outside perspective, blockchain tribalism formed a perceived barrier to entry. Chain maximalism is a serious obstacle within the industry, which is further exacerbated by obstinate and outspoken communities on social media.
Fortunately, away from the noise and distractions of social media, the teams actually building these ecosystems are eager to collaborate and push the collectively push the industry forward. d’Haussy remarked that the Solana Foundation was welcoming and receptive to working alongside teams from alternative ecosystems in the pursuit of progress.
“We were really warmly welcomed. I think the Solana ecosystem has showed us, you want to connect to the Solana ecosystem and bring more mindshare to the Solana ecosystem via your own chain? How can we help you?… The Solana Foundation has been extremely welcoming, connecting us to plenty of people. And the builders were also very welcoming.”
“Sometimes Twitter makes you think that this is all tribes and they look at each other from afar. But the reality is the real builders and the people which are in the industry long enough and for the long term, they are very friendly and they want to grow the cake for everyone.”
Additionally, d’Haussy asserted that “Solana is like Ethereum five years ago”, highlighting the energy and hunger shown by developers building innovative products. The CEO drew comparisons between the atmosphere of week’s earlier Token 2049 conference and Solana Breakpoint.
“We are just out of three days of Token 2049, which is much more salesy and marketing and towards trading activities, which is really the audience of DYDX. So, that was perfect, we had a blast over there. Suddenly, you wake up the next morning and you're going to Solana Breakpoint.”
“It's a bit of a shock for me because suddenly we are surrounded by devs. So, there is this kind of change of seasons overnight between the projects and the business development atmosphere of Token 2049 and here the business, the atmosphere of building here at Solana.”
Blockchain tribalism is a regrettable obstacle, but easily overcome. As evidenced by dYdX and the Solana, teams from different chains can always find ways to work together in a way that benefits both parties and further advances the space.
2 months ago
PayPal, one of the world’s largest financial platforms, continues its mission to deliver blockchain-based services to users and businesses alike.
On September 25, 2024, PayPal announced it would be enabling U.S. merchants to buy, hold, and sell cryptocurrency assets within their business accounts. The move is the latest in a slew of updates made by PayPal as the TradFi giant continues to embrace the cryptocurrency industry.
U.S. Businesses Can Now Store Funds Onchain
Following the successful launch of crypto services for individual users, PayPal remarked that businesses were eager to meet user’s growing demand for more comprehensive crypto services.
"Since we launched the ability for PayPal and Venmo consumers to buy, sell, and hold cryptocurrency in their wallets, we have learned a lot about how they want to use their cryptocurrency… Business owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We're excited to meet that demand by delivering this new offering, empowering them to engage with digital currencies effortlessly." - Jose Fernandez da Ponte, Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies, PayPal.
PayPal’s commitment to providing merchants with expanded crypto services and flexibility goes beyond buying and selling digital assets. Merchants can now withdraw cryptocurrencies to external onchain wallets.
While PayPal has stipulated that this feature will be limited to “eligible” wallets, the move also opens the door to more businesses becoming involved in DeFi. For example, businesses holding capital might be able to lend out assets in various onchain lending protocols, earning additional yield on a merchant’s treasury.
$PYUSD Solana Supply Down 40% Since ATH
Since launching on Solana on May 29, 2024, $PYUSD enjoyed meteoric growth. Spurred on by generous liquidity provision incentives, $PYUSD’s Solana-based supply surged to over 663.4M tokens based on Step Finance data. This eclipsed Ethereum’s $PYUSD supply, making Solana the unofficial home of PayPal’s crypto services.
However, as $PYUSD reward campaigns have slowed and market conditions improved, the supply of PayPal USD on Solana has declined. At its highest point on August 28, 2024, Solana hosted $PYUSD 65.79% supply dominance.
Based on DeFiLlama data, that figure has since fallen to just 50.4%, with PayPal USD’s Solana-based supply currently sitting at 354M.
It's unlikely that PayPal merchants based in the U.S. will rush to bring their stablecoin holdings onchain and deploy them in Solana DeFi protocols. However, the move highlights PayPal’s willingness to respond positively to customer feedback and integrate blockchain technology into its expansive product suite.
On September 25, 2024, PayPal announced it would be enabling U.S. merchants to buy, hold, and sell cryptocurrency assets within their business accounts. The move is the latest in a slew of updates made by PayPal as the TradFi giant continues to embrace the cryptocurrency industry.
U.S. Businesses Can Now Store Funds Onchain
Following the successful launch of crypto services for individual users, PayPal remarked that businesses were eager to meet user’s growing demand for more comprehensive crypto services.
"Since we launched the ability for PayPal and Venmo consumers to buy, sell, and hold cryptocurrency in their wallets, we have learned a lot about how they want to use their cryptocurrency… Business owners have increasingly expressed a desire for the same cryptocurrency capabilities available to consumers. We're excited to meet that demand by delivering this new offering, empowering them to engage with digital currencies effortlessly." - Jose Fernandez da Ponte, Senior Vice President of Blockchain, Cryptocurrency, and Digital Currencies, PayPal.
PayPal’s commitment to providing merchants with expanded crypto services and flexibility goes beyond buying and selling digital assets. Merchants can now withdraw cryptocurrencies to external onchain wallets.
While PayPal has stipulated that this feature will be limited to “eligible” wallets, the move also opens the door to more businesses becoming involved in DeFi. For example, businesses holding capital might be able to lend out assets in various onchain lending protocols, earning additional yield on a merchant’s treasury.
$PYUSD Solana Supply Down 40% Since ATH
Since launching on Solana on May 29, 2024, $PYUSD enjoyed meteoric growth. Spurred on by generous liquidity provision incentives, $PYUSD’s Solana-based supply surged to over 663.4M tokens based on Step Finance data. This eclipsed Ethereum’s $PYUSD supply, making Solana the unofficial home of PayPal’s crypto services.
However, as $PYUSD reward campaigns have slowed and market conditions improved, the supply of PayPal USD on Solana has declined. At its highest point on August 28, 2024, Solana hosted $PYUSD 65.79% supply dominance.
Based on DeFiLlama data, that figure has since fallen to just 50.4%, with PayPal USD’s Solana-based supply currently sitting at 354M.
It's unlikely that PayPal merchants based in the U.S. will rush to bring their stablecoin holdings onchain and deploy them in Solana DeFi protocols. However, the move highlights PayPal’s willingness to respond positively to customer feedback and integrate blockchain technology into its expansive product suite.
2 months ago
🚨 According to VanEck, Solana's technological advantage over Ethereum should have caused a much larger migration from ETH to SOL.
2 months ago
Vitalik Buterin bullish on Celo? The eponymous token is gaining more than 20% after a statement 🚀
@VitalikButerin recently gave its official support to Celo, a future layer 2 of #Ethereum ⛓️ dedicated to mobile payments.
He notably highlighted that Celo has just overtaken the Tron network in terms of active addresses for the use of stablecoins.
@VitalikButerin recently gave its official support to Celo, a future layer 2 of #Ethereum ⛓️ dedicated to mobile payments.
He notably highlighted that Celo has just overtaken the Tron network in terms of active addresses for the use of stablecoins.
2 months ago
📋 A report from MarketVector states that “based on research, Solana has the potential to reach 50% of Ethereum's marketcap, with predictions placing SOL at a price of $330 .”
Solana's marketcap is now 22% of Ethereum's
Solana's marketcap is now 22% of Ethereum's
2 months ago
🚨 Visa is working on a tokenized asset platform for banks and wants to launch a first pilot project in 2025 on Ethereum.
“We believe this creates a significant opportunity for banks to issue their own trust-backed tokens on blockchains, to do so in a regulated manner, and to enable their clients to access and participate in these onchain capital markets.”
“We believe this creates a significant opportunity for banks to issue their own trust-backed tokens on blockchains, to do so in a regulated manner, and to enable their clients to access and participate in these onchain capital markets.”
2 months ago
2 months ago
💬 Ethereum is a “dictatorship,” according to Cardano founder Charles Hoskinson.
He claims that the Ethereum network is more like a "dictatorship" where Vitalik Buterin exerts too much influence over the development of the decentralized network.
He claims that the Ethereum network is more like a "dictatorship" where Vitalik Buterin exerts too much influence over the development of the decentralized network.
2 months ago
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