Cryptocurrency News Cryptocurrency News – REAL News ® – TCAT Reportedly, several cryptocurrency exchanges are having negative net positions in Ethereum, and the outflows of ETH is continuing to increase.This just means that people with foresight are accumulating a lot of Ethereum and they are withdrawing it off the exchanges for long term safe storage i.e.not planning to sell soon.And, as the amount of ETH available on exchanges plummet the price will blow through the roof when mass demand comes back.Ethereum developer Tim Beiko announced in his blog that Ethereum ’s London hard fork will launch on August 4 between 13:00 UTC and 17:00 UTC with block 12,965,000.Ethereum Enthusiasts are like: USD is the world’s reserve currency for humans ETH is the world’s reserve currency for computers.5.5% of ETH supply is now in the proof of stake deposit contract.
The network is rich with activities.
Erik Voorhees stated that he is more than excited about DeFi.He thinks it’s going to tidal wave the banking system and never let up.Recently he stated: “I think what is most exciting for me right now is the DeFi Stuff.And, I don’t care what chain it is on.
It is these decentralized immutable protocols, which can do financial transactions without any intermediary with no middleman involved whatsoever and you can do the whole thing in 5 seconds from anywhere in the world on a phone.And, I have to just be in awe at how destroyed the banking system is going to get as the tidal wave approaches.
They are so far behind in curve, and as the world becomes comfortable with using things like MetaMask, what the hell are the banks going to be doing? Why in the world would you ever use a bank? The last reason to use a bank for a crypto person was to get the stability of the fiat when you wanted to exit, the volatility of crypto that has been solved with the stable coins.So, the path in to this stuff is a path you don’t emerge from.You don’t go back to the bank and they are set up in such a way that they cannot be innovative enough to ever catch up to the stuff.Ever.
So, the banks people are going to use in the future are just these open-source interfaces and the functions and services that people access are just going to be these open-source protocols.I think it is going to bring a great deal of wealth to the entire generation to the entire world.Regardless of who you are or where you are.It is going to be a great equalizer and I think it is going to make the world a far better place.” For clarity, on what is Metamask? It is a crypto wallet and gateway to blockchain apps.MetaMask is an extension for accessing Ethereum enabled distributed applications or “Dapps” in your browser! Get the latest Crypto & Blockchain News in your inbox..
