Crypto & Blockchain Daily Brief Thursday, September 26, 2024

Bitcoin exchange-traded funds (ETFs) have been removing nearly five times the daily supply of Bitcoin from the market, while Ethereum ETFs are experiencing a strong rebound. Bitcoin ETFs have been instrumental in reducing the available supply of Bitcoin, leading to a potential supply shortage. This scarcity could drive up the price of Bitcoin as demand continues to rise. Ethereum ETFs, on the other hand, have been performing well and are seeing a resurgence in interest after a period of decline. The demand for Ethereum ETFs is on the rise, indicating a bullish sentiment towards the cryptocurrency. Overall, the increasing popularity of both Bitcoin and Ethereum ETFs is reflective of the growing interest in cryptocurrencies from institutional investors and retail traders alike. The impact of ETFs on the cryptocurrency market cannot be underestimated, as they provide a convenient way for traditional investors to gain exposure to digital assets. With Bitcoin ETFs removing a significant portion of the daily supply of Bitcoin and Ethereum ETFs experiencing a strong rebound, the future looks promising for both cryptocurrencies.

The article discusses the decision by the U.S. Securities and Exchange Commission (SEC) to delay the approval of a Bitcoin exchange-traded fund (ETF) proposed by WisdomTree. The SEC has extended the deadline for its decision on the ETF to March 11, 2022. This delay marks the second time the SEC has pushed back its decision on the ETF, which was originally filed in March 2021. The article highlights that the delay in approving the ETF is likely due to concerns raised by the SEC regarding the lack of regulation and oversight in the cryptocurrency market. The SEC is reportedly seeking more time to review the application and gather more information before making a decision. Despite the delay, the article notes that there is still optimism in the cryptocurrency community regarding the eventual approval of a Bitcoin ETF. Many believe that the approval of a Bitcoin ETF could lead to increased mainstream adoption of cryptocurrencies and further legitimize the industry in the eyes of traditional investors. Overall, the article emphasizes the importance of the SEC's decision on the Bitcoin ETF and its potential impact on the cryptocurrency market. The delay in approving the ETF reflects the SEC's cautious approach to regulating the industry and highlights the need for clear guidelines and oversight in the cryptocurrency space.

The EOS network has recently undergone an upgrade to version 1.0, known as Spring 10, which has resulted in significant improvements in transaction finality. With this upgrade, EOS has achieved a remarkable transaction finality time of just one second. This means that transactions on the EOS blockchain are now confirmed and irreversible within one second of being initiated, making it one of the fastest blockchain networks in terms of transaction finality. The upgrade to Spring 10 is a major milestone for the EOS network, as it enhances the overall efficiency and speed of transactions on the platform. This development is expected to have a positive impact on the user experience, making it easier and quicker for users to conduct transactions on the EOS blockchain. The EOS network is known for its scalability and high transaction throughput, and the achievement of one-second transaction finality further solidifies its position as a leading blockchain platform. The upgrade to Spring 10 is part of EOS's ongoing efforts to improve its technology and provide users with a seamless and efficient blockchain experience. Overall, the EOS network's upgrade to version 1.0 and the achievement of one-second transaction finality are significant milestones that highlight the platform's commitment to innovation and continuous improvement. This development is expected to benefit users and developers on the EOS network by providing faster transaction speeds and enhanced reliability.

The EOS network has recently undergone an upgrade to version 3.0, known as "Spring 10," which has enabled the network to achieve transaction finality in just one second. This upgrade represents a significant improvement in the speed and efficiency of transactions on the EOS network. The upgrade is part of EOS's ongoing efforts to enhance its performance and scalability, making it more competitive with other blockchain networks. The new upgrade has been made possible by the implementation of various optimizations and enhancements to the EOS software. These improvements have significantly reduced the time it takes for transactions to be finalized on the network, making it one of the fastest blockchain networks in terms of transaction finality. This increased speed and efficiency will benefit users of the EOS network by allowing them to conduct transactions more quickly and securely. The EOS network upgrade to version 3.0 is a major milestone for the platform and demonstrates its commitment to continuous improvement and innovation. The upgrade is expected to further enhance the overall performance and functionality of the EOS network, making it a more attractive option for developers and users alike. Overall, the EOS network upgrade to version 3.0 represents a significant step forward for the platform and is a testament to its ongoing development and improvement efforts. The achievement of one-second transaction finality is a major accomplishment for the EOS network and is expected to have a positive impact on its user base and ecosystem.

PayPal has announced that it will now allow US business accounts to buy, hold, and sell cryptocurrencies directly through the platform. This move comes after the company's successful launch of cryptocurrency services for individual users last year. The new feature will enable businesses to access a range of cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. By offering this service to businesses, PayPal aims to meet the growing demand for digital asset transactions in the corporate world. This move will also provide businesses with additional flexibility and options when it comes to managing their finances and investments. The feature will be available to all eligible business accounts in the US in the coming weeks, with plans to expand to international markets in the future. Businesses that choose to use this service will have access to educational resources to help them navigate the world of cryptocurrencies. Additionally, PayPal will provide businesses with real-time alerts and insights to help them make informed decisions about their crypto investments. Overall, this development underscores PayPal's commitment to expanding its offerings in the digital asset space and providing its users with more opportunities to engage with cryptocurrencies. By enabling businesses to buy, hold, and sell cryptocurrencies, PayPal is positioning itself as a key player in the evolving landscape of digital finance.