Tezos Becomes The Largest Staking Network
Ok, we all love Tezos and it's no secret that XTZ has been ripping up the markets, along with LINK over the past few months. Tezos has one of the highest staking rewards around in the world of proof of stake.
Another great proof of stake project over the last while is Tron, here is a recent publication on how to make the most out of staking Tron. TRX was not always a proof of stake project but recently made the shift, shortly after launching their mainnet.
Approximately 93% of all Tezos in circulation is locked up to earn staking rewards and you can see why! With an interest rate of 7% APR and a climbing price, investors are seeing profits compounding at an amazing rate.
That is the objective of profitable staking, a good return rate compounded by increasing value. Tezos looks set to dominate the top 10 Crypto space!
Ethereum Dapps Dominate Q1
Well, as you look at the stats for the dapps volume in quarter 1, you will note that Ethereum has come out shining! The top 3 performers were EOS, TRX and ETH, with Tron coming in third.
Tron managed $415 million in volume, while EOS executed $1.75 billion for second spot. Ethereum crushed the number one spot with a quarterly volume of $5.67! Ethereum is the only project out of the top 3 performers to maintain a year-on-year growth.
Crypto Firms Donate To The Covid-19 Crisis
A lot of entrepreneurs, celebrities and companies have been opening up their wallets over the past months to try and alleviate the financial burden associated with the covid-19 crisis. Crypto firms are no different, as leaders in the space have been setting the example that hopefully others will follow.
Binance, once again were one of the first on scene to offer support as early as January. Other notable contributors include Ripple Labs, The Stellar Foundation, Golem, Bitmex and The Giving Block. Jack Dorsey, the CEO of Twitter also made a very handsome contribution to assist in these troubled times.
Bitmex Launch The Quonto Futures Contract
In an attempt to regain market share as users choose to migrate to other derivatives exchanges, Bitmex have launched a new trading instrument. This is way overdue in my humble opinion and probably a case of "too little too late".
The new Ethereum contract enables traders to speculate on the Ethereum price without holding USD or ETH. The fixed Bitcoin multiplier enables losses or gains to be debited or credited in BTC.
The new Ethereum contract enables traders to speculate on the Ethereum price without holding USD or ETH. The fixed Bitcoin multiplier enables losses or gains to be debited or credited in BTC. In other words a trader is speculating on the price of Ethereum but experiencing losses and gains in BTC!
Let's see if this is going to help Bitmex at all or if it will be interpreted as a desperate move!
More from Sapphire Crypto: Did Satoshi Nakamoto Use Human Behavior As A Strategic Move To Ensure Bitcoin's Longevity?