Analysis of major ETH portfolios gives bullish outlook
Ethereum is the center of attention on the fast news of the day. Starting with Cochran, the analyst predicting that the Ethereum 2.0 bet will cause a new lockdown, he posted a 109-page Tweetstorm on April 29, revealing his findings from a manual audit of ETH’s 10,000 fattest wallets.
Cochran’s first port of call is the distribution of ETH among the major portfolios. This is something that many critics point to as proof of centralized, pre-mineral control, but research suggests otherwise.
While approximately 17% of ETH (16.6 million ETH) is held by just 10 addresses, and the top 10,000 addresses have around 94% of the tokens available, this is skewed by the fact that large part of the currency is used and held in smart contracts.
Removing them from the equation shows that the top 10,000 Ethereum addresses actually contain around 56.7% of the ETH, comparable to the 57.44% of Bitcoin (BTC) that the top 10,000 wallet addresses contain.
OKEx joined ETH as a validator
Continuing with Ethereum (ETH) in today’s fast news, OKEx was known to have joined ETH 2.0 Topaz testnet as a validator, as several companies compete to develop a Phase 0 client before the end of 2020.
Announced that you have joined an Ethereum 2.0 testing network as a proof of stake validator.
As revealed by his blog post, OKEx is now validating blocks on the Ethereum 2.0 Topaz testnet, launched by Prysmatic Labs. Alysa Xu, chief strategy officer at OKEx, said the exchange believes in Ethereum’s potential and role in the industry. .
Furthermore, he revealed that the exchange is planning to promote the development of Ethereum after having “Collaboration with Prysmatic Labs established“
Prysmatic Labs is one of several companies that are working on a client for Ethereum 2.0.
For Ethereum 2.0, the Ethereum Foundation is allowing many independent projects to present their own clients. This is the software that defines how a blockchain works, and it is important that all implementations remain compatible with each other.
The Props project goes from private Blockchain to the public Blockchain of Algorand
The Props Project, which includes the popular dating app Dating.com, is moving to the Algorand blockchain.
Props Project, a decentralized app network that includes Dating.com, is migrating from a private blockchain to Algrorand (AGLO).
Props’ independent application network uses the Props Token as a reward mechanism. It currently has more than three million users in various applications.
The company developed PropsChain, a private fork of Ethereum that currently handles 50,000 transactions per hour.
Bitcoin price helped other cryptocurrencies
The impressive rebound in Bitcoin’s price has pushed the crypto market higher, leading traders to wonder if the uptrend will last until Halving.
The creator of the popular stock-to-flow (S2F) model, PlanB, has updated its model. This has led to a revision of Bitcoin’s forecast of $ 100,000 to $ 288,000 for the period between 2020 and 2024.
For his part, Tim Draper, the investor has recently reiterated his statement that the main cryptocurrency at CoinMarketCap will reach $ 250,000 in late 2022 or early 2023.
After five days of moving in a short range, Bitcoin (BTC) made a decisive move today. The sharp break above the $ 8,000 resistance zone.
For its part, Ether (ETH) is trying to break out of the resistance line of the rising channel. The price of the currency is currently quoted at $ 204.14 with a decreasing variation of -5.80% in the last 24 hours according to the CryptoTrend online crypto tool.