“It’s hard to talk about the timelines of the following four stages because all of them are still under active research and development. But, in my opinion, it will easily take 2-3 years before all phases are complete,” said Sameep Singhania, co-creator of QuickSwap, a decentralized exchange built on Ethereum scaling solution Polygon.
The wariness is evident in the way Ether, the network’s native token, is lagging Bitcoin of late: the second-largest digital asset is down about 13% in the past month, compared with an 9% drop in Bitcoin. The gap between a gauge of expected volatility in Ether and a similar index for Bitcoin is also elevated.
“It’s too early to predict that we are approaching another bull run, but if Bitcoin regains a higher support level between $22,000-$25,000 then it may boost investor confidence and ease off the selling pressure across crypto assets,” said Tarusha Mittal, co-founder of crypto staking platform UniFarm. “Given the fact that central banks around the world … Read more
(Bloomberg Businessweek) — The so-called crypto winter has wiped out $2 trillion in digital currency market value since November, and many investors have gone into hibernation. Yat Siu, the head of Hong Kong-based Animoca Brands Corp., is on the offensive. Animoca, Asia’s biggest investor in blockchain projects, is assembling a vast portfolio of finance, gaming, … Read more
Core Scientific Inc., Marathon Digital Holdings Inc. and Riot Blockchain Inc. posted net losses of $862 million, $192 million and $366 million, respectively, in the three months ended June 30, recent quarterly earnings reports show. Other significant miners such as Bitfarms Ltd. and Greenidge Generation Holdings Inc., which reported results Monday, were also forced to … Read more