I am kinda new to this. Let me ask, if you have Ethereum and you would like to turn it into let’s say dollar, can you do that? If so, how?
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submitted by /u/GenKaYY [link] [comments]
For many years and likely many years to come, bitcoin has been the number 1 digital asset for investors, especially those looking to invest in the long-term. When big money started entering into the crypto space, bitcoin was the first stop before it diversified into other assets. However, as time as gone by and more altcoins are beginning to gain popularity, bitcoin is losing its hold as the number 1 choice for investors. A recent survey that featured respondents from the ultra-wealthy class showed that they did not favor bitcoin as their first choice. Rather, they picked an altcoin whose growth has rivaled and even surpassed that of bitcoin since its inception. Ethereum Comes On Top Crypto.com revealed that the wealthy are gradually moving away from bitcoin. Their obvious choice besides the leading cryptocurrency is ethereum, which is currently the second-largest cryptocurrency by market cap. The numbers provided by the crypto exchange showed that ethereum has made its mark on the wealthy. With its broad range of use cases and applications, like decentralized finance (DeFi) and NFTs, the value of the cryptocurrency has shot up exponentially. And with that has come more confidence from investors. Related Reading | Ethereum Bullish Signal: Number Of Holders With 1 ETH Touches New ATH Crypto.com reached that that ethereum beat out bitcoin by 1% when it comes to the number of high-value investors going into crypto. Bitcoin came out at 33%, while ethereum made the top of the list at 34%, proving to be the preferred digital asset for investment purposes. Crypto funds came in third at 23%, other altcoins dominated at 15%, while Dogecoin, surprisingly, made the list with 2% of investors wanting to invest in the meme coin. The crypto exchange also noted that about 1 billion people are expected to be invested in the crypto market by 2022. By the look of things, ethereum may see a larger share of investors compared to bitcoin. But Why ETH? Well, for those investing in the crypto space, there could be a number of factors. One is the low-interest rates offered by banks and returns from traditional investment avenues like stock and bonds being too low to combat the inflation rate. So in order to keep inflation from eating away at their wealth, these investors have chosen the crypto market for their needs. ETH recovers to $2,600 | Source: ETHUSD on TradingView.com Bitcoin had been the inflation hedge of choice for years before now. But all of that is changing as the ethereum network has taken major steps towards becoming deflationary. President and Founder of TIGER 21, Michael Sonnenfeldt, notes that the high inflation rates are what is pushing the uber-wealthy investors towards crypto, and by extension, ethereum. “Like all investors, the super-rich are concerned about inflation and are looking to preserve their wealth in 2022,” said Sonnenfeldt. Related Reading | Ethereum Whales Quietly Filled Up On ETH While Broader Market Panicked Likewise, another member of TIGER 21 explained that investors are starting to favor ethereum over bitcoin. Additionally, similar projects like Solana and Avalanche are also enjoying this support. “I am very bullish on both Bitcoin and ETH. My personal assessment is that the tide is turning in favor of ETH. I also like Ethereum alternatives like Solana and Avalanche.” – Andy Sack, member of TIGER 21. Featured image from The DO, chart from TradingView.com
Despite extreme fear in the market, institutional investors appear to be re-accumulating Bitcoin using dedicated funds.
The Cryptocurrency and Regulation of Official Digital Currency Bill does not appear as one of the 15 bills the government body will consider during its next session.
Crypto.com reminds me of the Amazon, Facebook, or Google of the Crypto world. They are spending billions on advertising, they are clearly in it for the long haul, they have great name recognition. I have no doubt they will throw their entire bankroll behind big names to lead their different departments. They will buy up…
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SOL price is over 60% away from its all-time high and data shows that its loss of territory to competing chains is driving the correction.
Today I was talking to a friend of mine, a really skilled graphic designer that wanted to try minting NTFs but have basically 0 knowledge about blockchain. I was trying to explain gas fees, minting, different blockchains, proof of stake vs proof of work, and suddenly I realized something… Something that I already knew from…
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U.S. Senator Cynthia Lummis says that the recently introduced “America Competes Act of 2022” is a direct attack on the crypto industry. “I will not stand by and let the heavy hand of the government pick winners and losers,” she stressed. Congressman Tom Emmer explained that the legislation would give Treasury Secretary Janet Yellen “dictatorial-level […]