Theta Network

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Ethereum is the second most popular altcoin with a market capitalization of $197 billion, according to CoinGecko data. This made the Ethereum network popular with DeFi with some of the biggest protocols being built on top of it. This grabbed the attention of digital payments giant Visa which recently announced the company’s push on Ethereum as a way to settle payments. 
This could set up another rally for Ethereum which, at the time of writing, is up nearly 30% in the monthly time frame, based on data today, January 7th. 


Ethereum To Be The Backbone of Visa Crypto Venture
At StarkWare 2023, Visa’s VP and Crypto Head Cuy Sheffield announced the company’s testing of large transactions using the Ethereum blockchain. VisaNet, the company’s electronic payment network, is tied to Society of Worldwide Interbank Financial Telecommunication which is more commonly known as SWIFT. 
This makes the system extremely efficient, with the network easily able to handle over 1,500-2,000 transactions per second. However, its interconnectedness with SWIFT has also limited the network’s ability to operate in the frequency that the company wants. 

Sheffield said in the event that the company is testing how to accept payments in the form of stablecoins in the Ethereum network with the stablecoin of choice being USDC, the fifth largest cryptocurrency in terms of market cap. 
This integration of blockchain technology alongside traditional finance tools can boost Visa’s vision of a cashless society. 
At $1.6K, Will This Lead To Higher Highs? 
As of writing, the bullish news for Ethereum has not reflected in the market at all with the prized altcoin continuing to ride the bearish wave. With its high correlation with Bitcoin and the current pain the top crypto is experiencing, we can expect the coin to perform worse in the short to medium term. 
The current bearishness Ethereum is showing can lead to the bears testing the current support at $1,593, a crucial support that could lead to more long term pain if broken. 
Even though the altcoin is considered by many to be a solid investment to diversify a cryptocurrency portfolio, the current slowdown of Ethereum has made it harder for investors to be optimistic of the long term prospect of the altcoin. 



With this in mind, investors and traders should be cautious of the current situation of ETH. However, Visa’s continuing usage of the Ethereum network could bring spotlight on the altcoin, further solidifying the token’s position as the top crypto asset in the market. 
If the $1.5k support holds, we can expect a bullish climb in the medium to long term as more developments from Visa unfold.
Featured image from Livecoins


Ethereum is the second most popular altcoin with a market capitalization of $197 billion, according to CoinGecko data. This made the Ethereum network popular with DeFi with some of the biggest protocols being built on top of it. This grabbed the attention of digital payments giant Visa which rece...

bitcoinist.com

Visa Push On Ethereum Could Boost The Altcoin In This Level

Leading decentralized exchange (DEX) Uniswap v3 will be deploying on Ethereum’s layer 2 protocol Boba Network following a successful governance vote from the Uniswap community.
The proposal was earlier submitted by the Boba Foundation and FranklinDAO with backers including GFX Labs, Blockchain at Michigan, Gauntlet, and ConsenSys.
51.01M Voted Yes on the Proposal
In a press release shared with CryptoPotato, the community overwhelmingly voted in favor of the proposal, with 51.01 million answering YES out of the 40 million needed to pass it. The vote will result in Uniswap v3’s deployment to Boba in the coming weeks.
Boba Network is a layer 2 scaling solution powered by Hybrid Compute technology. The protocol claims it supports lightning-fast transactions and fees 40-100 times less than the Ethereum mainnet and other layer 1 networks. The platform has already deployed multichain support for Avalanche, BNB, Moonbeam, and Fantom.
Commenting on the development, Alan Chiu, Boba’s core contributor, said:

“Boba Network’s Hybrid Compute will make it possible for ecosystem developers to build a new generation of hybrid on-chain/off-chain DeFi applications atop of Uniswap. While the Uniswap protocol will remain permissionless, developers will be able to build a compliant layer atop of it that leverages Hybrid Compute to tap existing, TradFi-friendly KYC/AML services. As a result, Uniswap will become more accessible to the larger institutional market.”

Enhancing Uniswap’s Presence in Asia
Uniswap is the largest DEX on the Ethereum blockchain, with over $2.5 billion in total value locked (TVL). Its deployment on Boba is expected to expand its user base to include participants within Boba’s multichain ecosystem, thereby significantly increasing both its TVL and transaction volume.
According to Boba, the deployment will allow Uniswap to enhance its presence in major Asian markets, with the project already seeing strong adoption among South Korean users and expanding into Japan and several other countries from the region.
Boba Foundation Pledges $1 Million 
The layer 2 protocol noted that as part of the development, Uniswap will “enhance the gaming infrastructure on Boba Network being a trusted and premium DEX to facilitate token transfers.”
To foster the usage of Uniswap v3 on the Boba, the Boba Foundation has pledged to provide $1 million BOBA tokens, which will be sent to multisig wallets co-owned by the Uniswap Grants Program (UGP) and the foundation.

“The funding is primarily intended to incentivize liquidity on Uniswap v3 on Boba Network, but any project that promises to boost adoption can apply for a grant,” Boba said.

The post Uniswap to Deploy on Boba Network Following Successful Governance Vote appeared first on CryptoPotato.

The successful governance vote will result in the deployment of Uniswap V3 on the Boba Network in the coming weeks.

cryptopotato.com

Uniswap to Deploy on Boba Network Following Successful Governance Vote

Enya Labs co-founder Alan Chiu said that the move will allow developers to build on and off-chain DeFi applications on top of Uniswap. 

cointelegraph.com

Community votes to deploy Uniswap v3 on Boba Network

Bloomberg Intelligence has released its official crypto outlook for the month of February, citing massive mainstream adoption of Polygon (MATIC) and forecasting the future of Ethereum’s performance relative to Bitcoin.
The new report covers the rise of Polygon, which is a layer-2 network designed to power crypto projects and scale Ethereum transactions.

“Of the entire worldwide blockchain economy, Polygon has the third-largest ecosystem for decentralized apps (dApps). Many of the most popular DeFi dApps on Ethereum, including Aave and Uniswap, have migrated over and are being developed on Polygon. Its 359 dApps is more than three times that of its closest L2 rival and half that of Ethereum. Additionally, the network has more developers than its closest alternative L1 rivals, Avalanche and Fantom.”
The report also highlights Polygon’s growing adoption by mainstream corporate giants including Nike, Disney, Starbucks, Coca-Cola, Meta and Reddit.
“Based on Polygon’s string of brand-name partnerships in 2H22, this year could be the year of mainstream NFT adoption. The explosion in active users on the network stemmed from several blockbuster corporate partnerships struck by the company behind the network, Polygon Technology.”
Bloomberg Intelligence also analyzes the crypto markets as a whole, noting that this will likely be the first time that Bitcoin (BTC), Ethereum (ETH) and altcoins have to fight through a global recession.
“Cryptos may be facing their first real recession, which typically means lower asset prices and higher volatility. The last significant US economic contraction, the financial crisis, led to the birth of Bitcoin, and the possible coming economic reset may mark similar milestones. A key question is how much price pain will there be before longer-term gains resume.”
As for Bitcoin and Ethereum specifically, Bloomberg Intelligence forecasts that in the long run, ETH is on a definitive path toward resuming a long-term uptrend against BTC.
“The upward trajectory in the Ethereum/Bitcoin cross rate started in 2019 and shows few signs of abating. A resting bull market is our take on the cross between the No. 2 crypto and No. 1 Bitcoin, which is becoming a digital version of gold in a world going that way. The graphic shows the steady Ethereum/Bitcoin rate since the 2021 peak in the Bloomberg Galaxy Crypto Index. That suggests migration into the mainstream, and once the dust settles from some reversion in risk assets, Ethereum is more likely to resume doing what it’s been doing: outperforming.”
You can check out the full report here.
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Featured Image: Shutterstock/klyaksun/Vladimir 
The post Bloomberg Unveils Crypto Outlook – Highlights Explosive Polygon (MATIC) Adoption, Forecasts Ethereum Will Outperform Bitcoin appeared first on The Daily Hodl.


Bloomberg Intelligence has released its official crypto outlook for the month of February, citing massive mainstream adoption of Polygon (MATIC) and forecasting the future of Ethereum&#8217;s performance relative to Bitcoin. The new report covers the rise of Polygon, which is a layer-2 network de...

dailyhodl.com

Bloomberg Unveils Crypto Outlook – Highlights Explosive Polygon (MATIC) Adoption, Forecasts Ethereum Will Outperform Bitcoin

The last two mining difficulty changes on the Bitcoin network have driven difficulty to an all-time high, causing a decrease in hashrate and block interval speed. Before the latest difficulty retarget increase of 4.68%, block intervals were faster than the 10-minute average, at approximately 8 minutes 54 seconds to 9 minutes 31 seconds. However, since the change, block times have slowed, with statistics showing durations of 10 minutes 44 seconds to 10 minutes 36 seconds.
Slower-Than-Average Block Intervals May Lead to Decrease in Bitcoin Mining Difficulty
​​The next mining difficulty change is slated for Feb. 12, 2023. At the time of writing, metrics indicate the difficulty could drop as low as 5.6% below the current rate. The decline in estimated mining difficulty for Bitcoin is due to slower-than-average block intervals. Prior to the last two difficulty increases, block times were faster, leading to the increases. Currently, data shows that block times have slowed since the last difficulty change, with times ranging from 10 minutes 44 seconds to 10 minutes 36 seconds.
Bitcoin’s hashrate has been below average, with an average of 279 exahash per second (EH/s) over the past 2,016 blocks. As of 11:30 a.m. ET on Feb. 4, 2023, statistics show the hashrate at 258 EH/s. On Feb. 1, 2023, the total hashrate dropped to 217 EH/s after reaching a peak of 279 EH/s the previous day. The hashrate then increased, reaching 309 EH/s on Feb. 2, before declining 16.50% to its current level of 258 EH/s.

As of Saturday, the top Bitcoin mining pool is Foundry USA, with 90.61 exahash per second (EH/s) or 33.4% of the total hashrate. Foundry is followed by Antpool (18.14%), F2pool (14.08%), Binance Pool (13.13%), and Viabtc (9.07%). Thirteen known Bitcoin mining pools are contributing hashrate to the blockchain, while unknown miners, known as stealth miners, control 1.67% of the hashrate, or 4.53 EH/s. If the slowdown in block intervals results in a difficulty decrease eight days from now, miners will receive a two-week reprieve from the all-time high difficulty.
What impact will the decrease in Bitcoin’s mining difficulty have on the cryptocurrency’s overall network and hashrate? Let us know what you think about this subject in the comments section below.


The last two mining difficulty changes on the Bitcoin network have driven difficulty to an all-time high, causing a decrease in hashrate and block interval speed. Before the latest difficulty retarget increase of 4.68%, block intervals were faster than the 10-minute average, at approximately 8 mi...

Theta Network price	$1.15
Low - High 24H	$1.07 - $1.16
Market cap	$1.15B
Volume 24H	$40.20M
All time high	$15.72 -92.69% April 16th 2021
All time low	$0.0404 2742.42% March 13th 2020
Genesis date	N/A

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