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The ETH 2.0 deposit contract receives around 40,000 ETH each day for its staking.

If the current pace continues, more than 15 million ETH will be staked into the contract by next year around the same time.

There is currently a waiting period for new nodes, as only 28,800 ETH can be spent daily creating new nodes

Ethereum 2.0’s Beacon Chain, which launched on December 1, is off to a good start with more and more users continuing to flock to the platform.

One of the key elements in this advancement in the network has been the adoption of a new verification method, with Ethereum moving from Proof of Work (PoW) to Proof of Stake (PoS).

This change means that users will now have to place their ETH on the network as a guarantee of validation. Previously, it was necessary to have computer software dedicated to mining.

For the initial launch of ETH 2.0 Beacon Chain , just over 500,000 ETH had to be staked on the network for it to reach its minimum level of security. This threshold of 500,000 ETH was reached relatively quickly, with a million ETH being “staked” a few days later.

Deposits keep pouring in

The current deposit contract balance is approaching 1.3 million ETH, with the contract receiving almost 40,000 ETH deposited per day.

Since users must deposit a minimum of 32 ETH into the deposit agreement in order to be eligible for a node , this number will not include users who have less than 32 ETH.

Although users are limited by this requirement, there are already exchanges and services that will allow users to deposit any amount of Ethereum they wish to staking, such as Kraken. Kraken launched its staking service for Ethereum 2.0 just a few days ago and has already placed 100,000 ETH on its exchange. This is a substantial percentage compared to the actual deposit contract.

On Twitter, internet user @antiprosynth posted an interesting statistic showing that the current deposit rate is almost three times the daily issuance rate of ETH. It is difficult to say whether deposits will continue at this rate. If this is the case however, it could create supply problems in the Ethereum market .

The whales are currently causing selling pressure, but soon the shortage could drive the price up again.

Bitcoin large investors, the so-called „whales“, are currently selling parts of their assets to institutional investors, while the shortage of the crypto currency is becoming increasingly acute.

As data from several sources show, although more and more Bitcoin (BTC) is paid in on crypto stock exchanges and offered for sale, nevertheless the demand, in particular by institutional investors, is still clearly larger than the existing supply.

Institutions do not let up

According to data from the crypto-market researchers at Coin98, the Grayscale asset management company bought up twice as many Bitcoin in November alone as were newly produced by Miner (see graph).
Grayscale purchases in November 2020. source: Coin98/ Twitter

Together with Square and PayPal, the other two big companies that are buying up more and more Bitcoin, Grayscale creates an imbalance between supply and demand, the logical consequence of which is a price increase.

Grayscale does not let up in December either, most recently buying up 7,000 BTC in just 24 hours, bringing the investment firm’s assets under management to more than $10.5 billion on December 4.
Grayscale purchases in the last 6 months. Source: Bybit

At the same time Bitcoin could crack in this week the past record high and climb toward the psychologically important 20,000 US Dollar, at which however substantial selling pressure opened up.

Subsequently, the market-leading crypto currency could catch itself however again with 18.100 US Dollar and climb back on 19.000 US Dollar, however the 20.000 US Dollar mark remains further a large hurdle. Driving force for it is probably that the „Bitcoin whales“ and long-term investors have at present a good opportunity to book out their profits, since institutions such as Grayscale continue to buy.
Bitcoin price development. Source: TensorCharts

This thesis is confirmed by the fact that the whales in this week increasingly deposited Bitcoin back on crypto stock exchanges, when the course ran up to the 20,000 US Dollar mark. So while the resulting selling pressure initially keeps the current climb in check, Bitcoin assets are moving behind the scenes from the whales to institutions like Grayscale and their clients.

Bitcoin assets on crypto exchanges (red line).

Wealthy investors are causing shortages

Even the mass media have now become aware of this development.

„The number of addresses that buy more than $1 million in Bitcoin and then take it off crypto exchanges has grown by leaps and bounds,“ CNBC reported accordingly on Thursday.

„This is an increase of more than 180 % since 2017, and analysts conclude that more and more wealthy investors are buying Bitcoin and then holding it offline“.

The shortage of the market-leading crypto currency will thus continue if the bought-up Bitcoin is immediately removed from circulation. All the more probable that Bitcoin can continue the current high-altitude flight, as soon as the whales no longer sell and the institutions continue to maintain their demand.

Profitable Bitcoin addresses.

Meanwhile, the number of profitable Bitcoin addresses reached a new record high on Friday, as new data from Glassnode shows.

Wall Street also seems to have acquired a taste for it, with several indices for crypto-currencies to be listed on the American stock exchange from January 2021.

The new Bitcoin fund is intended to give institutional investors easier access to Bitcoin.

Morgan Creek Capital Management and Exos Financial have jointly filed a new Bitcoin ( BTC ) -based mutual fund with the US Securities and Exchange Commission. Should the fund be approved, institutional investors would have another vehicle to invest in Bitcoin without having to hold the cryptocurrency themselves and expose themselves to its volatility.

As Kevin Rooke reported yesterday Friday , the „Morgan Creek-Exos Risk Management Bitcoin Fund“ has been officially entered into the regulatory body

The fund is intended to enable direct investment in the market-leading cryptocurrency, with mechanisms being integrated at the same time that reduce the allocation to Bitcoin as soon as the signs turn negative.

In this regard, Rooke explains that the mutual fund „takes over the technical details of the trade, transaction and custody of Bitcoin“ completely, which in turn saves the institutional customers an enormous amount of effort.

In the associated marketing materials, Exos states that institutional investors want to invest in Bitcoin without having to deal with the volatility of the cryptocurrency and its technical properties. This market gap is now to be closed with the fund.

Accordingly , Exos writes :

„The fund makes the entire allocation to Bitcoin as long as the indicators are positive, and reduces the position or closes it as soon as the indicators become negative.“
The Morgan Creek asset management company was founded by Mark Yusko and aims to open up alternative investment opportunities for institutional investors. To this end, the company operates a department that specializes in investments in blockchain and cryptocurrencies.

Exos, in turn, is a business-to-business platform that offers investments in stocks, corporate financial services and wealth management.

The increased occurrence of so-called „on-ramps“ is the literal access ramp to the crypto market for institutional investors. The corresponding mutual funds, derivatives and ETFs are probably the driving force behind the current soaring of Bitcoin & Co.

The rise in mainstream adoption has also been fueled by advocacy from well-known investment gurus such as Paul Tudor Jones and Stanley Druckermiller, both of whom are invested in Bitcoin.

More and more companies are venturing into the market-leading crypto currency. According to estimates , companies now own just under 842,229 BTC, which is currently the equivalent of 15.7 billion US dollars.

Bitcoin is momenteel aan het afkoelen van een enorme stap naar de top van $ 18.450 op 18 november en bullmarkten worden traditioneel afgewisseld met grote correcties. Zou er zich nu een kunnen vormen?

Sinds de epische beweging gisteren naar het hoogste punt in bijna drie jaar, heeft Bitcoin Bank zich met ongeveer 4% teruggetrokken ten opzichte van de huidige prijzen die in de $ 17.600-zone liggen. Het lijkt zich hier echter te consolideren, dus een nieuwe opstap kan op handen zijn.

Aan de andere kant zou een correctie van redelijke omvang niet uitgesloten zijn, aangezien eerdere bullmarkten meerdere 30% plus terugval lieten zien.

Bitcoin-correctiescenario’s

Analist en kaartgoeroe Peter Brandt heeft zich verdiept in de mogelijkheden van een grote terugval voor Bitcoin, die sinds begin november een monumentale 30% heeft behaald en de hoogste marktkapitalisatie ooit heeft bereikt .

Hij verklaarde dat er negen significante correcties waren tijdens de laatste bullmarkt van 2015 tot 2017, met een gemiddelde daling van 37%.

Tijdens de bullmarkt van 2015-2017 in Bitcoin $ BTC waren er 9 significante correcties met de volgende gemiddelden:

De laatste in de huidige cyclus was begin september, toen BTC in vier dagen tijd kelderde van net onder de $ 12k naar iets meer dan $ 10k. De correctie van ongeveer 15% was minder dan de helft van het gemiddelde dat van eerdere cycli werd verwacht, dus wat kunnen we verwachten van een grotere?

Een terugval van 37% ten opzichte van de huidige niveaus zal de BTC-prijzen terugbrengen naar ongeveer $ 11.200, maar dit is nog steeds 55% hoger dan Bitcoin aan het begin van dit jaar.

Er is ook het uitgangspunt dat pullbacks niet zo gewelddadig zullen zijn tijdens deze marktcyclus vanwege het feit dat institutionele fondsen zoals Grayscale de activa hebben geladen, wat over het algemeen de volatiliteit verlaagt.

Analist en geesteskind van het stock-to-flow-model ‚PlanB‘ verklaarde dat het deze keer heel anders zal zijn omdat

“Groot verschil met 2017 is dat de meeste BTC die vandaag worden verkocht, het daglicht nooit meer zullen zien, ze verdwijnen in een diepe koude opslag. Kopers zijn tegenwoordig professionals met een langetermijnvisie en uithoudingsvermogen. “

Nu de economische ellende verergert en centrale banken fiatvaluta’s verlagen, is de neiging om vast te houden aan een actief dat deflatoir is sterk, vooral voor instellingen met langetermijndoelstellingen en professionele beleggers die nog volop bezig zijn .

Waarheen op korte termijn?

Bitcoin is de afgelopen twee dagen driemaal gedaald tot het voortschrijdend gemiddelde van 50 uur, maar het consolideert zich momenteel daarboven.

Een grotere terugtrekking zou het op korte termijn terug kunnen brengen tot rond het $ 16.700-niveau , en een grote correctie naar $ 14k waar het 50-dagen voortschrijdend gemiddelde ligt. Aan de positieve kant is er veel weerstand tot aan het hoogste punt ooit van $ 20k.

Riccardo Spagni worked as a Monero maintenance manager for several years, before starting his own project.

Crypto services must constantly evolve to stay ahead of the people who try to stand in the way.

Is it possible to complete Riccardo’s six-month challenge?

The Trust Project is an international consortium of news organizations based on transparency standards.

BeInCrypto recently spoke with Riccardo Spagni, also known as @FluffyPony, to talk about the state of privacy on Monero and the Lightning Network.

BeInCrypto: Welcome, Riccardo, and thank you for your time. First of all, can you tell us about your specific role at Monero?

Riccardo Spagni: As a member of the core team, I started as a maintenance manager, at the very beginning of Monero. I worked as a maintenance manager for about six years and then left the leadership position late last year to focus on Tari. I still work as a maintenance manager.

Monero offers several models to pay developers

BeInCrypto: It’s often difficult to know how open source projects compensate their developers, especially when people are spending the majority of their time on the project. How does Immediate Edge solve this?

Riccardo Spagni: There are several compensation models for developers. Even within Monero, we use different approaches. As in most open-source projects, the majority of our developers are made up of volunteers, who help them in their spare time or when they have free time for their work.

Second, a business can sponsor someone to work on Monero. For example, there are companies like XMR.to, mineXMR, and others who have paid developers in the past to work on Monero, and some of them still do.

The third way is quite interesting and somewhat unique to Monero. Monero has a crowdfunding system where teams or individuals can propose that they want to create a particular feature or just work on Monero for a few months.

They can then fundraise in XMR from the community. It used to be called the Forum Funding System (FFS), while it still worked on the Monero forum.

Now that it has its own section on the Monero website, it’s called the Community Crowdfunding System (CCS), and there are tons of activities, many great proposals, and many proposals that have been fully funded. . It has been working pretty well for about five years now.

How to reconcile regulation and confidentiality?

BeInCrypto: Right now, privacy wedges are fighting on three different fronts: there’s regulation, then there’s tracing companies, and third, there’s adoption. Let’s talk about regulation first.

While governments and regulators cannot shut down Monero directly, they can at least hamper its progress by pressuring exchanges to pull XMR out. How do you try to balance the demands of regulators and confidentiality?

Riccardo Spagni: There are a few aspects here. Tari Labs worked with Perkins Coie, an international law firm, to develop a regulatory white paper , which helps regulators, law enforcement agencies, exchanges and others who deal with privacy-focused cryptocurrencies to understand how they can comply with existing legislation and still interact with these cryptocurrencies.

This also includes payments on Lightning Network or deposits made with CoinJoin obfuscation, so this doesn’t just apply to Monero. The journal came out about a month ago, and so far it’s been quite successful, especially getting a lot of interest from exchanges.

Ultimately, regulators need to be educated and they need to understand that, to a large extent, privacy wedges are like money. Cash is not an anti-law enforcement thing or an anti-government thing, and it is perfectly compatible with existing regulations.

Regulators need to learn that having a publicly traceable currency is not good for anyone. It’s not good for governments, it’s not good for individuals, and it’s not good for businesses either. In fact, privacy is what governments, individuals and businesses want.

After a major investment in Bitcoin, MicroStrategy offers its vital tips for investing in cryptomoney. What are they?

Do you remember MicroStrategy, the company that invested $425 million in Bitcoin? Well, today he offered tips for anyone who wants to invest in Bitcoin.

Following the crypto path of another

Today, Michael Saylor, CEO of MicroStrategy, posted a Twitter feed for any investor or company that sees Bitcoin as a reserve asset.

The article is theoretically a series of resources selected by the company to serve as tips for Bitcoin investors. Apparently these are materials that were useful in making the decision.

In reviewing the link shared by Saylor, we found that most of the resources are either interviews with Saylor himself or articles about MicroStrategy’s decision to purchase Bitcoin.

So it seems that MicroStrategy’s main advice for investing in Bitcoin is to see Michael Saylor in action and, presumably, do the same.

Meanwhile, Bitcoin (BTC) has managed to break through the $11K level to position itself slightly above. According to the Crypto Trend tool, Crypto Online, the price of Bitcoin Secret is currently $11,055.

More crypto coins, more crypto now!

The Standard Chartered Investment Bank appears to have plans to increase its holdings in crypto on behalf of institutional investors.

The reason is that the bank submitted three applications in the last two weeks to create an active crypto team to support this objective.

John McAfee has fun in prison

This week one of the most controversial news of the month was released in the crypto community: John McAfee had been arrested in Spain for illegally promoting initial offers of coins (ICO) and evading his tax obligations.

But, as if that wasn’t enough, today he’s on the news again. Specifically his wife, Janice McAfee, who posted a message on Twitter from her husband.

„I’m having a fascinating time. The Spanish prison is not so bad. We can wear whatever clothes we want. We can smoke and socialize. It’s like the Hilton with no cover service,“ said John, who is awaiting extradition.

Obviously this is a topic of conversation in the crypto community, especially on Twitter.

Bank of Japan ready to start digital currency testing

The Bank of Japan said today that although it has no immediate plans to issue a CBDC, it considers it essential to be prepared.

It therefore has two proof-of-concept phases starting in April 2021. It is important to bear in mind that such tests may one day lead to a pilot.

In a few lines…

Andreessen Horowitz launched Crypto Startup School, a crypto documentary that explores the stories behind the crypto training camp.
They discover vulnerabilities in previous versions of Lightning Network Daemon (LND).
The US Attorney General published the Crypto Enforcement Framework.
Scott Melker pointed out that hodlear will be much more profitable than trading in the long term.