Cryptocurrency ethereum is flourishing but risks linger
Ethereum has outperformed major digital currency rivals this year
Reuters
May 08, 2021
PHOTO: REUTERS
Ethereum has outperformed major digital currency rivals this year, bolstered by the surge in decentralized finance (DeFi) and the anticipation of a technical adjustment this summer, but it faces hurdles that could stall its rise.
With a jump of more than 350% in its price this year, ethereum has the second-largest market capitalization after bitcoin, but not as much cache and perhaps more operational challenges that could prevent it from eclipsing its major rival.
In the crypto world, the terms ethereum and ether have become synonymous. Technically, ethereum is the blockchain network in which decentralized applications are embedded, while ether is the token or currency that enables or drives the use of these applications.
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When John Wu looked to raise up to $10 million for his San Diego startup that helps parents manage screen time and keep their kids safe online, he didn’t go the traditional venture capital route.
Instead, he opted for a less common fundraising vehicle called a Regulation A an equity offering mechanism that sprang out of the Obama administration’s JOBS Act to give everyday investors the opportunity to put money into startups.
“We have tens of thousands of customers who love our product, so this is a good way to leverage that to do a raise,” said Wu, co-founder and chief executive of Gryphon Online Safety. “And another benefit is you are building your brand. You’re able to reach a wider community with the right game plan.”
SafeMoon Crypto Overtakes Bitcoin on CoinMarketCap s Most Watched List at 1.3 Million
On 5/7/21 at 5:00 AM EDT
The cryptocurrency SafeMoon is currently on more CoinMarketCap watchlists than Bitcoin.
CoinMarketCap, a major cryptocurrency price tracking site, shows SafeMoon is on just over 1.3 million watchlists, while Bitcoin the most widely known cryptocurrency is on around 1.2 million.
SafeMoon is a relatively new cryptocurrency token launched two months ago in early March. It works by charging a 10 percent fee on each transaction, some of which is redistributed to others who hold the token.
Read more
Since its launch, it has gained traction as fans of the token repeatedly post about it on social media.
Gertrude Chavez-dreyfuss
6 minute read
A representation of virtual currency Ethereum is seen in front of a stock graph in this illustration taken February 19, 2021. REUTERS/Dado Ruvic/Illustration/File Photo
Ethereum has outperformed major digital currency rivals this year, bolstered by the surge in decentralized finance (DeFi) and the anticipation of a technical adjustment this summer, but it faces hurdles that could stall its rise.
With a jump of more than 350% in its price this year, ethereum has the second-largest market capitalization after bitcoin, but not as much cache and perhaps more operational challenges that could prevent it from eclipsing its major rival.