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Cryptocurrencies overtake gold

Every week we discuss the crypto market news from the past seven days. This Monday is no exception! Get ready to learn something new, and don’t forget to leave a like! By the way, if you think that some important news has escaped our attention, don’t hesitate to post it in the comments!

Cryptocurrencies have become more popular than gold

Last week, two analytics companies conducted research on the popularity of cryptocurrencies among investors. They explored both Russian and worldwide markets, and the results were similar. In terms of demand, cryptocurrencies have already bypassed gold and entered the TOP-5 products in the investors’ portfolio. Gold was ranked sixth. What’s more, over 25% of all global investments are made online, and investments in cryptocurrencies also prevail in the online segment.

We at FORSAGE.io stand for complete transparency and decentralization, and we want cryptocurrencies to become familiar to as many people around the world as possible! The rise of its popularity is driving the era of digital finance, which will reinvent the financial system.

Ethereum 2.0 deposit contract coming soon

Developer Ben Edgington has announced the launch of the Ethereum 2.0 deposit contract. He also said that in about six to eight weeks a genesis block will appear on the network. The deposit contract will allow users to send ETH from the existing network to the updated Ethereum 2.0 version. This is why, according to Edgington, the zero phase of ETH 2.0 should be launched as soon as possible. “I think people are already fed up with tests. It’s time to move on,” he stated.

The memories of August and early September are still fresh in the memory of many FORSAGE participants. Then the transaction fee on the ETH network reached several tens or even hundreds of dollars. Ethereum 2.0 should resolve all the network scalability issues. We totally agree with Edgington: it’s time to move on!

Tether prepares to issue $450 million in USDT

The reason for this was the fact that Bitcoin reached a price of 13,000 USD for the first time this year. The company’s CTO Paolo Ardoino explained that he expects an increased demand for coins with the rise in the value of cryptocurrencies. That’s why the issuer decided to replenish USDT reserves in anticipation of additional demand. By the way, the demand for USDT is growing indeed. Over the past three years, the share of trades in this coin has increased from 5% to 70%.

If there are still some FORSAGE community members who haven’t set up a TRON blockchain team yet, it’s quite a time to do it! Most Tether transactions take place on the Ethereum blockchain, which means that the rise in popularity of USDT could lead to overload in the ETH network.

The amount of funds transferred on the Ethereum blockchain will soon reach $1 trillion

The 30-day moving average of the amount of funds transferred on-chain on the Ethereum network reached $7 billion versus less than $3 billion on the Bitcoin blockchain. If the trend continues, this number will reach a $1 trillion benchmark by the end of the year, Messari analysts assure. Ryan Watkins estimates that the tipping point occurred in the third quarter of this year. Thanks to the boom in the decentralized finance sector, and the rise in popularity of stablecoins, the amount of transactions on the Ethereum network became twice as much as that of the Bitcoin network.

Ethereum is used by almost every member of the FORSAGE community. The fact that today ETH is ready to compete with Bitcoin for the title of the most popular cryptocurrency cannot leave us unmoved! This never happened before, because so far ether hasn’t been able to bypass bitcoin in terms of the amount of transferred funds. But it seems that the situation will soon change.

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Forsage is an international community and a global decentralized marketing ecosystem, powered by revolutionary smart contract technology built on Ethereum and Tron. https://forsage.io

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Forsage is an international community and a global decentralized marketing ecosystem, powered by revolutionary smart contract technology built on ETH and TRX

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