Since the start of 2020, DeFi protocols have had a rise of 75% in their amount of locked ETH while over the same period, centralized exchanges share of ETH has dropped by 30%.

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Decentralized exchanges (DeFis) have obviously been more successful in attracting and locking ETH than their centralized counterpart.  This is more obvious and tangible after Glassnode’s sharing of a chart in this regard. This on-chain analytics provider compared the amount of ETH stored (locked) on the centralized exchanges to Ethereum-based smart contracts.

The supply share of ETH on centralized exchanges fell from 17% to 12%, almost more than one-forth while that of smart contracts rose from 13% to 22.8%. This suggests that DeFi is gaining popularity while its counterpart is losing its share and as a result the trading fees.


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Ether supply: in smart contracts and on centralized exchanges. Source: Glassnode

DeFi Llam, the crypto data aggregator, figures tell us that around 9% of the ETH supply is locked in other networks’ smart contracts rather Ethereum mainnet.

DeFi Llam gives an estimate that Binance Smart Chain protocols hold 7% of the circulating ETH or 8.3 million coins while 0.25%  and 0.09% are on Solana and Avalanche which is equal to 286,153 Ether and 103,902 ETH , respectively.

Discussions of a new “flippening” over Bitcoin seem to have been heated up since Ethereum’s setting a new ATH around $3,500 which touched the futures’ market as the volume of ETH futures has surpassed BTC market.


DeFi’s locked ETH is about twice as much as that of the exchanges according to Glassnode

EOS saw a 100% rise in its value after it proposed to add to its staking rewards and raise the inflation rate.

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Blockchains tend to undergo protocol updates which sometimes have some impact on the value of that digital asset. These updates are indispensable to these assets if they wish to keep up with the latest trends and developments and besides that to make sure that the user is enjoying the best experience.
  
EOS has also had an upgrade for its protocol and its price has doubled since May 5. This upgrade not only increased its staking rewards but it also the inflation rate of the EOS project.


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EOS/USDT 4-hour chart. Source: TradingView   

According to the data from TradingView, EOS stood at $6.18 on May 5 and around noon on May 6, it jumped to $12.85, a more than 100% rise.
Resource allocation and staking rewards have been the most important developments for EOS  and according to EOS Twitter feed on May 3, EOS protocol should raise its inflation rate from 1% to a rate between 1.2% and 3.8%  concluded Block.one in a report, so they can have more voters as a result of an increased staking reward.

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This proposal has caused much excitement in the project although they haven’t settled an exact inflation rate. 

PowerUp model is another significant development for the EOS protocol. This feature is interesting because once you pay a fee, you can transact as much as you want within 24 hours without having to pay for every single transaction. This opens up another profit-gaining way for holders of EOS tokens by gaining a percentage of all the 'power-up' fees that are generated by the network.

Unlike the Ethereum high transaction fees which have been rather repelling, this new feature attracts many people to the network for transactions. In this regard, VORTECSTM  signaled a bullish trend for EOS two days before this major rise. They did it using a comparison among a mix of different data sources such as trading volume, market sentiment, recent price movements, and Twitter activity.

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VORTECS™ Score (green) vs. EOS price. Source: Cointelegraph Markets Pro






The proposal to add to staking rewards led to a twofold increase in EOS value 

Paying cash as a bonus seems to be out of the window for the MicroStrategy directors’ board.

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The board of directors will receive their bonuses in Bitcoin instead of the dollar announced MicroStrategy on Sunday.

This was uncovered after the United States SEC received a modified 8-K form filed from the MicroStrategy Company that had announced its decision to reward its board of directors with Bitcoin instead of the traditional way of paying them in dollar: 


*“Going forward, non-employee directors will receive all fees for their service on the Company’s Board in bitcoin instead of cash.”*


This company has been collecting BTC randomly since the end of the last year and now this collection is worth $4B of Bitcoin. This might stem from the belief that was mentioned in their 8-K form which stated that BTC can be considered as a great source of value. The filing also says:


*“In approving bitcoin as a form of compensation for Board service, the Board cited its commitment to bitcoin given its ability to serve as a store of value, supported by a robust and public open-source architecture, untethered to sovereign monetary policy,”.*


MicroStrategy has also promised that they won’t change the bonus amount, they’ll just convert it.


*“Under this modified arrangement, the amount of Board fees payable to non-employee directors remains unchanged and will be nominally denominated in USD. At the time of payment, the fees will be converted from USD into bitcoin by the payment processor and then deposited into the digital wallet of the applicable non-employee director.”*




Bitcoin bonuses instead of cash for MicroStrategy board of directors

APR 10, 2021
Once again Ripple beats SEC and they celebrate it with a big pump.

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After another victorious legal confrontation with SEC, the Ripple price jumped by 30% among some other altcoins that were enjoying a weekend pump. XRP is also being listed on some exchanges again which is definitely going to have positive effects on its popularity and price. 

While XRP saw a sharp rise of 30% rising up to $1.36, BTC and ETH didn’t rise much in comparison, being up just 2.7% for BTC and 3.4% for ETH. If we take a look at other time periods, we see that on a weekly basis, XRP is up 111%, and even more shocking is its annual growth which stays at a mind-blowing rate of 544%. This growth has assisted this asset to recover its position among the top 10 and it is currently occupying the fourth position.


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While we are talking about XRP’s surge in prices, it’s worth mentioning that this is happening alongside Ripple’s fight against the SEC lawsuit which had been filed earlier concerning an ICO held by SEC and Ripple had been charged with a $1.3-billion ICO in an “unregistered securities offering”.

 This had a huge immediate negative impact on the asset’s total value and as a result, several exchanges delisted this currency which led to XRP’s losing its position as the third-largest currency by market cap. Later on, they also announced their termination of a really positive partnership with MoneyGram which was considered as a turning point for the future of the Ripple back then because it tended to strengthen this digital currency’s status as “the standard” for the payments and settlement.

Despite all that ripple went through and the troubles they suffered, they have been in the driving seat over the last two meetings against the SEC which in other words can be considered as victories against SEC. 
 
Preparing for the next court meeting, Ripple has also said that the US is not ready to regulate cryptocurrencies.


Once again Ripple triggers a weekend pump and shines among the altcoins

After consecutive days of Bitcoin surge, finally Bitcoin calms down while some high-cap altcoins shoot up.

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After weeks of breaking records followed by 3 days of fluctuations, the most well-known cryptocurrency and largest by market capitalization fell below $40K on January 10, 2021. Meanwhile, some altcoins such as Dash and Bitcoin Cash soared.

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Source; Cointelegraph

There are multiple causes attributed to BTC’s fall and one of which might be a slight increase in miner’s selling their BTC as MPI (Miner's Position Index) has reached levels where miners are selling. And in this regard, Ki Young Ju believes that MPI seems to be enough to create a local top just before the price falls below $40K.


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TC/USD vs. MPI. Source: Twitter/@ki_young_ju           Source; Cointelegraph


In addition, the Crypto Fear and Greed index have stayed at high levels (above 90 or "extreme greed" for 2 months) which warns of an incoming pullback. 


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Crypto Fear & Greed index. Source: Digital Assets Data                       Source; Cointelegraph


## **Good days for altcoins!?**


Following the Ethereum breakout, it seems that the upward and bullish trend has migrated from BTC to altcoins, Bitcoin Cash and Dash also rose dramatically by 50% and 40%, respectively. 
This move has also led multiple analysts to believe that the “altseason” is commencing.


Bitcoin settles below $40K, Dash skyrockets and Bitcoin Cash breaks out

After consecutive days of Bitcoin surge, finally Bitcoin calms down while some high-cap altcoins shoot up.

Good days for altcoins!?