Bitcoin Vs Ethereum : What Crypto Whales Are Stacking ?


The post Bitcoin Vs Ethereum : What Crypto Whales Are Stacking ? appeared first on Coinpedia Fintech News

The cryptocurrency market has been a hot topic recently, with investors trying to predict which digital asset will provide the best returns this year. As the market showcases a recovery, Bitcoin and Ethereum continue to compete for dominance. While altcoins may offer significant gains, Bitcoin and Ethereum remain the two biggest high-caps and are still the most popular investments in the crypto world.

Ethereum’s Deflationary Advantage

According to Altcoin Daily, Ethereum is currently in a unique position. The network activity is increasing, and the Ethereum supply pie is decreasing, making Ethereum a deflationary asset, which is a great advantage for investors. 

Ethereum has been around for eight years, and during this time, we have seen many decentralized applications booming on top of Ethereum. These dApps, such as DeFi and NFTs, take supply off the market, making Ethereum an even more attractive investment.

Blockchain Gaming and NFTs

Blockchain gaming is becoming the next big thing in the crypto world, just like NFTs in 2021 and DeFi in 2020. In-game assets are becoming NFTs that users truly own, and the promise of turning in-game items into NFTs is becoming a reality. This development may be a significant factor in Ethereum’s future success, given that Vitalik Buterin was inspired to build Ethereum because of a game, World of Warcraft.

Bitcoin’s Timing Cycle

In contrast, Bitcoin’s timing cycle shows that it is entering a reaccumulation phase. The number of Bitcoin whales has dropped to its lowest level since 2019, while smaller investors have gradually increased over the past five years. Mega whales holding more than 10,000 Bitcoin are near all-time highs.

Ethereum vs. Bitcoin

While comparing Bitcoin and Ethereum precisely is difficult, Ethereum’s potential is becoming increasingly apparent. With NFTs, blockchain gaming, and the adoption of the recent upgrade, EIP 1559, the Ethereum network has become a deflationary asset since mid-January this year. The more adoption, interest, and trading volume the Ethereum network sees, the more scarce the asset can become. 

Only time will tell which cryptocurrency will experience the most surge this year, but Altcoin Daily’s personal opinion is that Ethereum will have more significant returns than Bitcoin going forward for the next couple of cycles.

At the time of this writing, Bitcoin is worth $24,754, and Ethereum is worth $1,682.

Do Kwon Accused of Withdrawing Bitcoin Worth $100 Million After Terra Collapse

The post Do Kwon Accused of Withdrawing Bitcoin Worth $100 Million After Terra Collapse appeared first on Coinpedia Fintech News

The collapse of the Terra/Luna stablecoin ecosystem resulted in investors losing almost $40 billion, causing a significant and ongoing market decline. However, recent developments suggest that the founder, Do Kwon, may have taken more than $100 million in Bitcoin after the platform’s collapse.

According to Bloomberg, Kwon allegedly transferred over 10,000 bitcoin from Terraform and Luna Foundation Guard crypto asset platform accounts to an un-hosted wallet. It’s said he then converted the bitcoin to cash using an undisclosed Swiss bank between June 2022 and February 2023.

Do Kwon attempted to exchange the bitcoin for fiat money when Bitcoin was trading at roughly $30,000, the value of the 10,000 bitcoin could have been worth a staggering $300 million.

The SEC alleges that Kwon and the Terraform firm deceived clients over various topics, including the selling of unregistered securities. The company and Kwon were sued by the SEC, with a New York judge ordering Terraform Labs to abide by the investigative subpoenas issued by the SEC in 2022. Now, the SEC accuses the company and Kwon of breaking the Exchange Act and Securities Act’s registration and anti-fraud provisions.

SEC chair Gary Gensler has stated that Terraform and Kwon failed to provide the public with honest disclosure about various crypto-asset securities, most notably LUNA and Terra USD.

It’s still unclear whether Kwon will be brought to justice for his alleged involvement in the collapse of the Terra/Luna stablecoin ecosystem.