Celsius Network staked nearly $75 million worth of ETH through Figment, raising questions on its motives amid ongoing bankruptcy proceedings. The crypto lender’s choice to use Figment instead of its own pool adds to the intrigue, highlighting the delicate balance between risk and reward in the cryptocurrency and blockchain sphere.
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Ethereum Staking Surge Sparks Centralization Concerns: A Deeper Dive into JPMorgan’s Analysis
The article reveals Ethereum’s staking growth is leading to increased centralization, with five entities controlling most staking activities. This generates risks like potential single points of failure and lower staking yields. Analysts suggest this centralization might challenge blockchain networks’ decentralization and trustlessness principles.
Coinbase’s Slipping ETH Staking Market Share: Regulatory Pressure and Revenue Implications
Coinbase’s ether staking market share has dropped to 9.7% amid increasing regulatory concerns, experiencing a net outflow of $517 million. Competitors like Figment, RocketPool, and Kiln are closing the gap, highlighting challenges faced by crypto platforms subject to regulatory scrutiny.
Celsius Network’s ETH Staking Strategy Lengthens Queue for New Ethereum Validators
Celsius Network’s recent changes to its ETH staking strategy have exacerbated the already long queue for activating new validators on the Ethereum network. The company’s transfers have stretched the queue for establishing new validators now to 44 days, potentially adding almost an additional week due to Celsius actions.
Celsius Network’s ETH Staking Strategy: Impact on Validators and Ethereum’s Ecosystem
Celsius Network significantly alters its ETH staking strategy, causing an increased congestion in Ethereum’s validator activation queue. This move involves moving $745 million worth of ETH into staking contracts after redeeming $813 million from Lido Finance, impacting Ethereum’s ecosystem and adding pressure on the network.
Celsius Withdraws $781M in stETH from Lido: Strategic Move or Risky Gamble?
Celsius is transferring 428,015 stETH ($781 million) from liquid staking platform Lido, possibly in preparation for withdrawal. This move could enable Celsius to stake directly without Lido’s intermediary role, increasing profits but also exposing them to potential security risks and impacting Lido’s staking dominance.
Quiet Crypto Market: Tracking Sentiment, Challenges, and Emerging Technologies
In this quiet crypto market, Bitcoin and Ether trade below their 20-day moving averages, with funding rates remaining positive. Binance ceases operations in Canada amidst regulatory challenges, EY Global launches an Ethereum-based carbon tracking platform, and South Korean exchanges face controversial transfer investigations.
Celsius Network Stakes $75M in ETH: Bold Move or Risky Gamble for Users’ Assets?
Cryptocurrency lender Celsius Network staked $75 million of ether (ETH) through institutional-grade staking service Figment, raising questions about potential risks tied to the uncertain future of Ethereum 2.0 and staking profitability. Critics argue that this exposes users’ assets to vulnerabilities in both the Ethereum network and Figment’s services, while supporters highlight Celsius’ reputable track record and potential benefits of higher yields.
Exploring the World of Crypto Staking: Opportunities, Services, and Taxation Debates
Staking, an accessible alternative to mining, involves pledging crypto assets to validate transactions on proof-of-stake networks like Cardano and Ethereum. Staking-as-a-service has emerged, and most cryptocurrency exchanges offer user-friendly staking options. However, staking taxation remains a gray area, with global tax authorities yet to form an official position.