Opinion

Dubai-based Investment firm FD7 Ventures has launched a $250 million micro-fund targeting Polkadot (DOT) and Cardano (ADA) projects. This is part of the investment firm's aim to expand its existing business portfolio.  $250 million Micro Fund FD7 Ventures revealed this move in a press release on February 28, 2021. According to the report, this development was part of opening an office in Bangalore, India. FD7 wants to build a presence in Bangalore, an area widely considered the home of India's…

As more people continue to tag Binance Smart Chain as the "Ethereum Killer," Binance CEO Changpeng Zhao (CZ) has opined that the real Ethereum "killer" is no other blockchain but itself due to performance issues. In a recent Twitter thread, CZ noted that the success of ETH might become the cause of its downfall, not necessarily other cryptocurrencies. He wrote, "Vitalik once said (and there is a video of it somewhere), ETH killer is ETH. I believe he is correct,…

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,332 trillion. Bitcoin decreased by more than 22% to trade below $44,000. Ethereum lost more than 31% over the week to trade at around $1,300 again. XRP lost around 25% of its value to trade around $0.41. Cardano became the 3rd-largest crypto by market cap after a 7% increase in value. The DeFi sector…

Nasser Hakimi, the former deputy governor of the Central Bank of Iran, has warned Iranians about investing in Bitcoin. This comes on the back of the growing popularity of cryptocurrencies in Iran.   A major investment risk  Hakimi revealed his opinion on cryptocurrencies in an interview with local news outlet Tasnim News Agency. According to him, bitcoin is a volatile asset that poses significant financial risks to investors.  He further added that investors should exercise caution in purchasing bitcoin and desist from…

Rakesh Jhunjhunwala, an Indian billionaire investor and partner in the asset management firm, Rare Enterprises, has called on its financial regulators to place a ban on cryptocurrencies, especially bitcoin. A Speculative Investment According to a CNBC report on Tuesday, Jhunjhunwala said that crypto trading is the highest form of speculative investment and that he had no intention of joining the trend. Popularly referred to as "India's Warren Buffet," Jhunjhunwala does not hide his dislike for the top cryptocurrency, bitcoin. He…

The oldest bank in India, State Bank of India (SBI), has partnered with US bank, JPMorgan, to leverage its blockchain platform to speed up international transactions. This is the first of such partnerships in India and shows the growing adoption of blockchain-based solutions by banks.  SBI to Integrate JPMorgan Blockchain Solution for Cross-border Payments The development was revealed today by local news outlet the Indiatimes. According to the report, the partnership will offer SBI immense benefits. One of which is…

The rise in private currencies like Bitcoin and Ethereum has forced Central Banks to develop Central Bank Digital Currencies (CBDC). However, a recent report from the International Monetary Fund (IMF) insists that Central Banks must coexist with private currencies for the finance sector to grow.  Central Banks and Private Digital Currencies  The IMF revealed this in a blog post where it analyzed the relationship between central banks and the private sector. It highlighted that cryptocurrencies grow more flexibly than central…

Since its establishment in July 2015 by Vitalik Buterin, Charles Hoskinson, and others, Ethereum has grown immensely to be the leading blockchain network regarding decentralized finance (DeFi) and smart contracts. Its native coin, Ether, is also the second most valuable cryptocurrency after Bitcoin. However, its massive growth has brought various challenges, notably network congestion due to scalability issues and exorbitant gas (transaction) fees, among other problems.  To solve the challenges that have continued to hamper the network's growth, Ethereum developers…

Get the weekly summary of cryptocurrency market trends, news, and forecasts! This Week's Summary The Crypto Market ends the week at a total market capitalization of $1,744 trillion. Bitcoin increased by over 17% to set a new ATH at $57,505. Ethereum increased by more than 8% to trade above $2,000 for the first time. XRP dropped by roughly 7% to trade below $0.52. Elon Musk continues to drive the BTC surge with tweets and obvious support for crypto. The DeFi…