Tag

Largest

Browsing

share the post

A question that people interested in the banking sector want to know the most. Which is the largest commercial bank in India? Which is the largest commercial bank of India? Perhaps this question may not be necessary for many people, but it is very important for those who are preparing for bank jobs or those who want to join the biggest commercial bank.

What is commercial bank? People also need the answer to this question because till now we common people go to the bank and open the account. So that is a normal account. In such a situation, one word commercial, in this way, who open an account in a bank and what is the difference between normal and commercial bank? The answer to all such questions will be found from here.

What is Commercial Bank?

It is a financial institute that accepts deposits, offers loans, offers individual and commercial bank accounts. There are many such banks in the country which come in commercial banking. They are mainly used by small businesses so that they can do transactions easily.

Such banks are very important for the economy of any country. It helps in maintaining capital, credit and liquidity in the market. All the small and medium businesses of the country are associated with some or the other commercial bank.


In simple language, this is such a banking service that has been made for business, whatever people do small or big business. They all use it because some facilities here are completely different from those found in normal banking.

for example,

  • Fast payment processing is done.
  • Money Transfer But there is no limit.
  • Dedicated support is given to the business
  • Credit is available for business loan and other work.
  • The account is in the name of the business. In this case, business tax, GST Like they are used for work.

Commercial Vs Cooperative Bank

These are both banks and accounts are opened in both but there is a difference between these commercial and cooperative banks. About which all those people who have interest in this sector should be aware. Here are some important points regarding the difference between the two.

  • Commercial bank provides its service to any individual, trade and business.
  • Cooperative Bank offers service to its service farmer, common man, and small business.
  • There are very few limits on service in commercial banks. Due to which the customers get a lot of benefits and can do big transactions during the day with great ease.
  • Very limited services are available in Cooperative Bank which is perfect for an individual.

Which is the largest commercial bank of India?

Which is the largest commercial bank in India

that’s a big question Which is the largest commercial bank in India? andAnd there are many posts about this too. But still it is not decided among the people who is the largest commercial bank in India? Perhaps this question has been asked in some exam, only then people are very curious about this question.

Students who are preparing for bank jobs, they need to know the answer to this question, who is India’s Biggest Commercial Bank? With this, if we talk about how many such banks are there. We have been informed long ago that how many government and private banks are there in India. But here you will find information.

It is written in many places that SBI (State Bank of India) It is considered to be the largest commercial bank and there are some such portals as well. According to which HDFC is the largest commercial bank in India. But the answer to the question that was asked is SBI. According to a question given on Byus, State Bank is the largest commercial bank in India.

Here we are sharing the list of top 5 commercial banks. Whose market size you can find out from the internet. Because this list is not fixed as the customers increase in the bank. Their list keeps going up or down, so you can assume this is a temporary list.

Top 5 Largest Commercial Banks In India

  1. State Bank of India (SBI)
  2. HDFC
  3. ICICI Bank
  4. Kotak Mahindra Bank
  5. Axis Bank

SBI

It is most popular in corporate banking and Largest Commercial Bank List I have placed it at the top. It is one of the oldest and most trusted banking service in India. The name SBI only offers commercial service, but they have many services that offer banking and financial services.

SBI offers solutions like credit card, debit card, savings account, current account and loans to its customers. If seen, it has the highest number of customers in India.

HDFC

HDFC The full form is Housing Development Finance Corporation and it is the largest private sector bank in India. Most of the people who work, do business, like HDFC. Its services and solutions are very much liked by the people, so it is at number two in the list of Biggest Commercial Banks.

ICICI

It is the second largest private sector bank in the country, which offers individual and commercial services. Started in June 1994, ICICI offers a host of services such as commercial loans, credit cards, business accounts and many more.


Kotak Mahindra

Kotak Mahindra Bank is a very fast growing bank and it is included in the list of largest commercial bank. Kotak Mahindra has been placed at the 4th position and this is because a lot of small businesses in the country use it. Not only for its business and services but its many banking services are the best.

Axis Bank

Axis was earlier named as UTI Bank but later changed and is also known for its premium services. Not only Axis India, it has opened its branches at 11 international places. It is included at number 5 in the list of commercial banks. All types of solutions are available here such as credit, debit, loan and other solutions for business.

hope this question is answered Which is the largest commercial bank in India? You have got all the information about this important tech update and remember the name of TechYukti and share this post on social media so that people can get the answer to this question.

According to the Electric Coin Company, the team behind the cryptocurrency network Zcash, the protocol is soon to implement the largest upgrade in history. The Zcash development team has released the 5.0.0 codebase which supports the NU5 upgrade that will occur on or around May 31, at block height 1,687,104.

Electric Coin Company and Zcash Prepare for Network Upgrade

The second-largest privacy-centric crypto network, in terms of market capitalization, Zcash, will see a significant upgrade take place on or around May 31. Electric Coin Company and Zcash developers released the binaries for the Zcash 5.0.0 codebase, and the binaries are now available via the Zcash download web portal. Developers are asking all Zcash participants who run the codebase software to upgrade to the latest release or any subsequent release.

According to the Electric Coin Company’s (ECC) most recent blog post, NU5 plans to implement the Orchard shielded payment protocol and the Halo proving system. The firm says that it will “remove reliance on complex setup ceremonies.” “The efficiencies built into this upgrade make possible — for the first time ever — private, trustless digital cash payments on mobile phones,” ECC’s blog post notes. “Halo also paves the way for increased interoperability by providing a system that could unlock private cross-chain proofs at scale.”

Zcash founder Zooko Wilcox-O’Hearn further tweeted about the release on Wednesday. It’s here — Zcashd 5.0.0 — If the Zcash users choose to run zcashd 5.0.0, then at the end of this month Zcash Network Upgrade 5 will activate on mainnet,” Zooko said. “This is a historic step forward for human society. It is a historic step forward for two reasons: 1. It puts the soundest money in the world—Zcash—on a foundation of long-term, scalable, and extensible cryptography. 2. It marks the maturation of zero-knowledge proofs into a general-purpose technology.”

The Zcash founder continued:

Network Upgrade 5 moves Zcash onto the foundation of a completely new Zero-Knowledge Proof system: Zcash Halo, the first zero-knowledge proof system that is both (a) efficient and recursive, and (b) doesn’t rely on Ceremonies (“trusted setups”).

ECC Executive: ‘Complex Trusted Setup Ceremonies Are Now a Thing of the Past’

According to ECC, the upgrade has been under “extensive review at both the specification and implementation levels” and the team used third-party audits from NCC and QEDIT as well. Furthermore, the team leveraged the cryptography researcher at the Ethereum Foundation Mary Maller to conduct a review. Maller checked the “theoretical reasoning behind the zero-knowledge and soundness of the protocol” in the Halo2 security review. Josh Swihart, the senior vice president of growth, product strategy, and regulatory affairs at ECC, said the upgrade will be the protocol’s largest.

“NU5 is the largest network upgrade in Zcash history. By utilizing the Halo proving system and Orchard shielded payment protocol, complex trusted setup ceremonies are now a thing of the past, and users can make private, trustless digital cash payments on mobile phones,” Swihart said in a note sent to Bitcoin.com News. “The upgrade marks a significant milestone, not only for Zcash, for the field of zero-knowledge cryptography.”

Tags in this story
ECC, Electric Coin Company, Halo2, Josh Swihart, Mary Maller, Orchard shielded payment protocol, setup ceremonies, Upgrade, Zcash, zcash (ZEC), ZEC, Zero Knowledge, Zero-Knowledge Proofs, Zooko, Zooko Wilcox-O’Hearn

What do you think about the upcoming Zcash upgrade? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

On Wednesday, the world’s largest family-owned banking institution, LGT Bank, announced that it has selected SEBA Bank in order to provide cryptocurrency custody and brokerage services to clients. LGT will start by offering investments in bitcoin and ethereum and the bank’s customers can incorporate the digital assets into their existing LGT Bank-managed portfolios.

LGT Bank Adds Crypto Services by Partnering With the FINMA Licensed SEBA Bank

The largest family-owned private banking and asset management firm LGT Group has revealed the parent company’s banking institution will now offer crypto investment opportunities. LGT Group is over 100 years old and the financial institution is owned by the princely House of Liechtenstein.

On May 4, SEBA Bank, a FINMA licensed digital assets banking platform, revealed that LGT Bank has chosen SEBA as a cryptocurrency partner. LGT will leverage SEBA’s regulated crypto platform and custody services so the bank’s clientele can invest in crypto assets. Roland Matt, the CEO of LGT Bank, Liechtenstein, detailed that LGT has seen increased demand for crypto products from customers.

“The demand for cryptocurrencies has also increased among our clients in recent years,” the LGT CEO said in a statement on Wednesday. “We are very pleased that we can now offer our client easy access to these asset class. When developing our new offering, we paid particular attention to security while focusing on clear, reliable processes and procedures.”

The executive of the family owned private bank added:

They are central for dealing with this dynamic and still quite young asset class. Thanks to our cooperation with SEBA Bank, our clients’ digital assets are held in the custody of a professional and certified provider with extensive experience in this area.

LGT to Initially Offer Bitcoin and Ethereum Investments

LGT and its clients will leverage “SEBA Bank’s ISAE 3402 certified hot and cold storage custody solutions” and the bank will initially allow investments in bitcoin (BTC) and ethereum (ETH). At first, the crypto investment opportunity will be available to “selected client groups” chosen by LGT.

The bank further notes that customers interested in the crypto services must reside in Liechtenstein or Switzerland. Franz Bergmüller, the CEO of SEBA Bank, explained on Wednesday that SEBA looks forward to working with LGT Bank.

“The range of services combined with the highest security standards makes SEBA Bank’s service offering unique and we are very pleased to be able to support LGT with our expertise in expanding its services around digital assets,” Bergmüller said during the announcement.

Tags in this story
100 years old, banks, Digital Assets, family-owned, family-owned bank, financial institution, Franz Bergmüller, Investments, LGT Bank, LGT Bank Bitcoin, LGT Bank Ethereum, LGT Group, Liechtenstein, princely House of Liechtenstein, private bank, SEBA Bank, Switzerland

What do you think about LGT Bank offering crypto services via SEBA Bank? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

On Saturday, the creators of Bored Ape Yacht Club (BAYC), Yuga Labs, revealed the Otherside metaverse virtual land sale which turned out to be one of the largest non-fungible token (NFT) mints to date. The Otherside metaverse virtual land sale raised close to $320 million by selling 55,000 parcels of Otherside land.

Otherside Metaverse Sees $320 Million Raised, Ether Fees Spike, Etherscan Crashes

The Otherside metaverse virtual land sale took place on Saturday, and a great deal of people purchased Ethereum-based NFTs dubbed “Otherdeeds.” Demand for the Otherside metaverse deeds propelled ethereum (ETH) fees upwards, causing the average ether gas fee to rise dramatically.

The Largest NFT Mint in History — Bored Ape's Otherside Virtual Land Sale Raises $320 Million
“Otherside is a gamified, interoperable metaverse currently under development,” the website explains. “The game blends mechanics from massively multiplayer online role-playing games (MMORPGs) and Web3-enabled virtual worlds. Think of it as a meta RPG where the players own the world, your NFTs can become playable characters, and thousands can play together in real-time.”

When the sale finished, 55,000 Otherdeeds were sold and the project raised close to $320 million from the sale. The BAYC collection’s creators Yuga Labs wrote about the mint after it was completed and discussed some of the network issues that took place.

“We know that the Otherdeed mint was unprecedented in its size as a high-demand NFT collection, and that would bring with it unique challenges,” the team wrote. “The hope was that those challenges would be assuaged via a rigorous gating mechanism in the form of an on-chain KYC, a max mint of 2 per KYC’d wallet, and a significant clearing price at 305 Apecoin.”

The Largest NFT Mint in History — Bored Ape's Otherside Virtual Land Sale Raises $320 Million
Statistics on May 1, 2022, indicate that there are 28,348 Otherdeed holders. The unique holder ratio for Otherdeed holders is 0.332 and Opensea shows the project’s current floor value is 7.88 ETH or $21,754 USD. Secondary Otherdeed sales have been live for six hours since this article was written and there’s 85.8K items available on Opensea today.

However, the on-chain KYC did not curb demand and virtual land plots started selling immediately after at 9 p.m. (ET) on Saturday. Ethereum fees leveraged to mint the non-fungible tokens cost roughly $166.2 million or 60,234 ETH. Furthermore, the mint saw so much demand it crashed the blockchain explorer Etherscan.

“This has been the largest NFT mint in history by several multiples, and yet the gas used during the mint shows that demand far exceeded anyone’s wildest expectations,” Yuga Labs said. “The scale of this mint was so large that Etherscan crashed.” The BAYC creators further added:

We’re sorry for turning off the lights on Ethereum for a while. It seems abundantly clear that Apecoin will need to migrate to its own chain in order to properly scale. We’d like to encourage the DAO to start thinking in this direction.

After explaining that Apecoin needs to leverage a different blockchain, Yuga Labs mentioned that the team was aware some users had failed transactions during the sale. “For those of you affected, we appreciate your willingness to build alongside us – know that we’ve got your back and will be refunding your gas,” Yuga Labs concluded.

At the time of writing, secondary Otherside NFT sales have been live for over six hours now on Opensea’s NFT marketplace. The Otherdeed collection’s floor value today is 7.88 ether or $21,754 USD, at the time of writing.

Tags in this story
$320 Million, BAYC, BAYC creators, BAYC NFTs, Bored Ape, Bored Ape Yacht Club, Land Sale, Largest Mint, Metaverse, Metaverse land sale, metaverse virtual land, nft, NFT Holders, NFTs, Non-fungible Token, Otherdeed, Otherdeed holders, Otherside, virtual land, Yuga Labs

What do you think about the massive Otherside metaverse land sale that took place on Saturday evening? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

While there’s a number of bitcoin whales that often get caught by blockchain parsers and written about in media reports, ethereum whales get a lot less attention. According to statistics in 2022, there are a lot more ethereum whales than holders with large sums of bitcoin. In fact, while the top 100 richest bitcoin addresses control 14.08% of the circulating supply, the top 100 richest ethereum addresses hold 39.81% of all the ether today.

Data Shows Ethereum Still Has a Large Concentration of Whales in 2022

Ethereum, the second-largest crypto asset in terms of market capitalization, has an overall USD valuation of around $348 billion. Ethereum’s market cap represents 18.3% of the $1.89 trillion crypto economy’s net value. While the leading crypto asset has been around for close to seven years, 100 addresses command 39.81% of the current ether in circulation. However, after subtracting the Ethereum 2.0 Contract address, which holds 10.06% of the current ether in circulation, 99 wealthy addresses own 29.75%.

Coincarp.com rich list statistics for this article were recorded on April 27, 2022.

From the top five richest ethereum addresses alone, 5.17% of the ETH supply is controlled by the Wrapped Ether contract, 1.78% of the ETH supply is held by the trading platform Kraken, and 1.68% is held by Binance. Many of the 100 richest ethereum addresses are centralized exchange platforms and decentralized finance (defi) protocol reserves. This includes exchanges and protocols such as Bitfinex, Okex, FTX, Polkadot Multi-Sig, Arbitrum’s bridge, and Lido. After the 57th largest ethereum address, the majority of the rest are unknown wallets or simply whales.

Into the Block’s Large Holders statistics for this article were recorded on April 27, 2022.

Into the Block statistics show addresses that own more than 1% of the circulating supply and addresses that own between 0.1% and 1% of the circulating supply, equate to 41%. Those same metrics applied to bitcoin’s top 100 addresses equate to 10%. From this perspective, the data shows that there are a lot more ether whales than the concentration of large bitcoin holders. Moreover, some of these ethereum whales have been making a name for themselves, as blockchain parsers are starting to monitor their activities more often.

Meet Some of Ethereum’s Most Famous Whale Addresses Light, Locke, Tsunade, Bluewhale0072, and Bluewhale0073

For instance, whalestats.com gives an interesting perspective of the ether whales who not only hold ethereum but also tokens and non-fungible token (NFT) assets. Whalestats.com labels the rich list, and the top five addresses include wallets called “Light,” “Locke,” “Tsunade,” “Bluewhale0072,” and “Bluewhale0073.” The wallet Bluewhale0073 has been making headlines lately for purchasing and selling massive amounts of shiba inu (SHIB). Whalestats monitors whales “who are worth an average of $75,905,160 and hodl an average of 10,236 ETH, 34 tokens, and 1 NFT.”

The address called Light is currently worth over $17.9 billion today and it holds 136 NFTs from 54 collections. While none of the NFTs are extremely valuable, Light’s SHIB stash is worth $786.69 million. Light also holds $218.74 million in CRO and $217.08 million in tether (USDT). The whale’s stash of ethereum is worth $87.57 million as Light holds 30,320 ether. Light also has multi-million-dollar stashes of usd coin (USDC), enjin coin (ENJ), the sandbox (SAND) and, decentraland (MANA).

Whalestats.com statistics for this article were recorded on April 27, 2022.

The address dubbed Locke currently holds $13.52 billion in digital assets today. Locke holds 151 NFTs from 53 different collections and $109.3 million worth of ethereum. Locke also owns millions of dollars worth of BAT, SAND, UPXAU, MATIC, SHIB, LINK, FTM, and APE. The address also holds hundreds of thousands of dollars worth of ENJ, USDC, USDT, GRT, SRM, SPELL, and QNT. The whale address called Tsunade holds $186.9 million and 162 NFTs from 57 different collections. Tsunade has $60.07 million in USDT, $40.44 million in SHIB, and $36.5 million in ETH.

Bluewhale0072 is the fourth largest ether whale on whalestats.com and the address holds 100 NFTs from 37 different collections. The wallet is currently worth $67.4 million today and $40.67 million of the wallet’s funds are held in tether (USDT). Bluewhale0072 also holds a large portion of wrapped bitcoin (WBTC) and has $4.99 million worth of WBTC today. As mentioned above, Bluewhale0073 has been written about on a few occasions and in recent times. That’s because at certain times, Bluewhale0073 purchases vast quantities of shiba inu (SHIB).

Bluewhale0073’s USD value today is $122.98 million and the wallet only owns ten NFTs from four different collections. A large portion of Bluewhale0073’s wealth is in ethereum (ETH) as the wallet holds $114.53 million in ether today. Bluewhale0073 also holds $5.53 million in USDT, $1.75 million in USDC, $640K in MATIC, and $19,324 in SHIB. While reports noted that Bluewhale0073 was purchasing millions of dollars of SHIB, the address sold most of the meme-coin, trading for other coins like ETH.

While we don’t know who all the ethereum whales are, they are caught regularly by blockchain analysis and they can be tracked. Crypto whales have always been an enigma and they are called whales because they are massive compared to the rest of the smaller fish in the digital currency industry. Much like the whales in the ocean, crypto whales can cause major volatile waves within the crypto economy.

Tags in this story
Bitcoin Whales, Blockchain Parsers, Bluewhale0072, Bluewhale0073, BTC Whales, Digital Currencies, digital currency industry, ERC20 Tokens, ETH Whales, Ethereum Whales, headlines, Into the Block stats, Large Holders, largest whales, Light, LiNK, Locke, matic, NFTs, shib, shiba inu, Tokens, Tsunade, USDC, USDT, WBTC, whale movement, whale watching, Whales, Whalestats.com

What do you think about today’s ethereum whales? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




Image Credits: Shutterstock, Pixabay, Wiki Commons, whalestats.com, Into the Block, coincarp.com

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

On March 26, the Luna Foundation Guard (LFG) held 24,954.95 bitcoin and during the last five days, LFG’s bitcoin wallet accumulated 5,773.02 bitcoin. At the time of writing, LFG’s wallet now holds 30,727.97 bitcoin worth more than $1.4 billion using today’s exchange rates. In a relatively short period of time, LFG’s bitcoin wallet is up there with some of the largest crypto treasuries on record.

LFG Wallet Accumulates 5,773 Bitcoin in 5 Days

During the last two weeks, the Luna Foundation Guard (LFG), has been on a bitcoin buying spree in order to accumulate bitcoin (BTC) for the organization’s reserve pool. LFG is a non-profit based out of Singapore that is dedicated to the Terra (LUNA) ecosystem and aims to advance the “sustainability and stability of Terra’s algorithmic stablecoins.”

On March 21, Bitcoin.com News reported on Terra’s founder Do Kwon hinting at purchasing $3 billion in BTC. Following that report, LFG’s first purchase was caught by onchain observers and after that buy, LFG confirmed the organization owned the bitcoin address discovered by the blockchain sleuths.

Five days ago, Bitcoin.com News reported on LFG obtaining 24,954.95 BTC which amounted to $1.1 billion using bitcoin exchange rates on March 26. Since then, LFG has obtained 5,773.02 more bitcoin (BTC) during the five-day span.

Luna Foundation Bitcoin Wallet Nears Tesla's Stash, BTC Address Is the 29th Largest Wallet Today

The wallet’s bitcoin holdings increased by 23.13% since March 26 and the address now holds 30,727.97 BTC worth $1.4 billion. The address has steadily moved up the ladder in terms of the bitcoin rich list of addresses holding the most bitcoin. At the time of writing, LFG’s wallet is the 29th-largest bitcoin wallet today out of the top 100 BTC addresses with the most coins.

LFG Wallet Nears Some of the Largest Bitcoin Treasuries

Additionally, besides moving up the ranks in terms of one of the largest BTC wallets, LFG’s reserves are also just as large as some of the biggest bitcoin treasuries today. The Bitcoin Treasuries list shows LFG’s wallet is bigger than a majority of exchange-traded funds except for the top three. LFG’s bitcoin wallet has more funds than the Salvadoran government.

Besides Block.one, LFG’s wallet would be larger than all the wallets held by private companies. Furthermore, Besides Microstrategy and Tesla, LFG’s bitcoin wallet is larger than the long list of public firms that have BTC on their balance sheets. Moreover, Tesla has 42,902 BTC on the electric car company’s balance sheet, and LFG only has to purchase a touch more than 12,174.03 bitcoin to surpass Tesla’s BTC holdings.

Tags in this story
$3 Billion, Balance, Bitcoin, Bitcoin Magazine tweet, BTC, BTC balance, collateral, do kwon, El Salvador, etfs, Gnosis safe address, LFG’s bitcoin wallet, LUNA, luna foundation guard, microstrategy, Private Companies, public companies, reported BTC purchase, Terra, terra (LUNA), Terra’s Luna Foundation, terraform labs, Tesla, Tether, UST

What do you think about the Luna Foundation Guard’s bitcoin wallet accumulating massive amounts of bitcoin? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Israel’s second-largest bank, Leumi, is launching a cryptocurrency trading service to allow customers of its digital investment platform to trade cryptocurrencies. “The service will allow Pepper Invest customers to buy, hold, and sell cryptocurrencies.”

Major Israeli Bank Launching Crypto Trading Service

Pepper Invest, the digital investment platform of Pepper by Leumi (TASE: LUMI), announced Friday the upcoming launch of its cryptocurrency trading service.

“Pepper will be the first banking platform in Israel … to allow its customers to trade cryptocurrencies, in an attractive pricing model,” the announcement details, adding that the service will also become accessible to other Bank Leumi customers in the near future.

The new service is a collaboration between Leumi Group and Paxos, a regulated U.S. blockchain infrastructure platform. The announcement adds that upon completion of the regulatory approvals required:

The service will allow Pepper Invest customers to buy, hold and sell cryptocurrencies, in the first stage bitcoin and ethereum.

Bank Leumi’s customers can trade cryptocurrencies through their trading account at Pepper Invest and “Pepper will collect tax according to the guidelines of the Israeli Tax Authority so that customers will not need to manage tax complexities,” the announcement notes.

Founded in 2012, Paxos holds regulatory licenses in the U.S. It manages more than USD 20 billion in assets and reaches more than 400 million end-customers worldwide.

Pepper CEO Uri Nathan commented:

We are proud to be the first in the Israeli banking system and one of the few worldwide to offer our customers to trade in cryptocurrencies simply, safely and reliably, without the need to download a crypto wallet and with all tax complexities being resolved by the bank.

Tags in this story
Bank Leumi, bank leumi bitcoin, bank leumi crypto, bank leumi crypto trading, bank leumi cryptocurrency, bank leumi ether, bank leumi ethereum, crypto trading, Cryptocurrency Trading, israeli bank, pepper by leumi

What do you think about this major Israeli bank launching cryptocurrency trading services? Let us know in the comments section below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

This week, the Ethereum network’s burn rate reached a milestone by surpassing 2 million ethereum burned worth $5.81 billion since August 5, 2021. Metrics show the crypto network has a 24-hour burn rate of 1.74 ether per minute, which equates to roughly $5K worth of ether destroyed every 60 seconds.

2 Million Ethereum Burned, More Than $5K in Ether Destroyed Every Minute

During the last year, the Ethereum (ETH) network has seen a slew of changes and seven months ago the network implemented the Ethereum Improvement Proposal (EIP) 1559 on August 5, 2021.

Ever since then, the network has been destroying ether at an extremely rapid rate, as EIP-1559 transformed the algorithm tethered to the base fee per gas in the protocol and it burns the base fee per gas. Ethereum advocates like the idea because it makes the crypto network’s supply deflationary.

At the time of writing, and since the August 5 introduction of EIP-1559, Ethereum has destroyed approximately 2,001,495.6 ETH. Using current exchange rates on March 21, 2022, the amount of ethereum burned is equivalent to $5.81 billion in USD value.

While more than 2 million ether has been burned, the speed of burn per day has been coasting along at 1.74 ether per minute or roughly $5,059.05 per minute using current ether exchange rates. Measuring the burn rate by hour shows the network destroys 1.51 ETH per minute.

On March 21, the non-fungible token (NFT) marketplace Opensea is the largest ether burner as the NFT market has destroyed 229,922 ether worth $790 million. Average, everyday ethereum transactions represent the second-largest burner as ETH transfers have destroyed 185,920 ether worth $674 million using today’s ETH exchange rates.

The decentralized exchange (dex) platform Uniswap v2 is the third-largest burner with 126,576 ether burned, and tether (USDT) transactions represent the fourth-largest burner with 92,325 ETH destroyed.

Other notable burners include Swaprouter, Uniswap v3, Metamask, and the stablecoin USDC. At the time of writing, ethereum has gained 59% during the last 12 months against the U.S. dollar and 13.6% over the last two weeks. In terms of market dominance among the 13,311 crypto assets in existence valued at $1.9 trillion, ethereum’s $348 billion market cap represents 17.8%.

On Monday, the average transaction fee on the Ethereum network is 0.0028 ETH or $8.15 per transfer. The current median-sized transaction fee on the Ethereum network is 0.0012 ETH or $3.60 per transaction.

Tags in this story
2 million burned, 2 million ETH burned, 2 million ether burned, Blockchain, Burn Rate, Close to 2M, deflationary, EIP-1559, ETH, ETH fees, ETH Markets, ether, Ether burn, Ethereum, Fee Burn, Fees, Fees Spike, Hard Fork, London, London fork, London Upgrade, metamask, Opensea, ruleset change, Swaprouter 2, technology, Tether (USDT), Uniswap V2, uniswap v3

What do you think about the 2 million ethereum burned so far? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Privatbank, the largest commercial bank in Ukraine, has temporarily halted transfers in national currency to digital asset exchanges. The financial institution explained the move with restrictions imposed by the country’s central bank under the current martial law.

Leading Bank in Ukraine Bans Clients From Sending Hryvnia to Crypto Trading Platforms

Ukraine’s largest bank in terms of assets, Privatbank, has prohibited its clients from transferring funds in Ukrainian hryvnia, the national fiat currency, to exchanges trading cryptocurrencies. The temporary ban has been introduced on March 16.

According to a statement, quoted by the crypto news outlet Forklog, the measure stems from a resolution issued by the National Bank of Ukraine (NBU) on Feb. 24, the day when Russia launched its military invasion of the country.

Although it does not specifically mention crypto-related transactions, the document regulates the operation of the banking system under martial law and introduces stricter rules for bank operations. For example, cash withdrawals were limited to 100,000 hryvnia (approx. $3,400) daily and the hryvnia’s exchange rate was fixed.

Banks are prohibited from carrying out cross-border transfers of currency from Ukraine on behalf of clients, Privatbank explained in its announcement. Transferring funds for use on cryptocurrency exchanges is no exception, the bank elaborated.

The report notes that Binance, the world’s leading crypto exchange by trading volume, has confirmed the news of Privatbank’s decision regarding hryvnia deposits. The company is warning users that other banks may do the same and recommending they turn to peer-to-peer trading.

Ukraine has been accepting crypto donations to fund its defense efforts in the face of advancing Russian forces and addressing growing humanitarian needs. The ban comes despite President Volodymyr Zelenskyy signing this week the country’s new law “On Virtual Assets.”

You can support Ukrainian families, children, refugees, and displaced people by donating BTC, ETH, and BNB to Binance Charity’s Ukraine Emergency Relief Fund.

Tags in this story
ban, Bank, Binance, Central Bank, Crypto, crypto exchanges, Cryptocurrencies, Cryptocurrency, deposits, Exchanges, Law, Legislation, Martial Law, nbu, Privatbank, Regulation, Regulations, restriction, restrictions, transactions, transfers, Ukraine, ukrainian

Do you think other Ukrainian banks will impose similar restrictions? Share your expectations in the comments section below.

Lubomir Tassev

Lubomir Tassev is a journalist from tech-savvy Eastern Europe who likes Hitchens’s quote: “Being a writer is what I am, rather than what I do.” Besides crypto, blockchain and fintech, international politics and economics are two other sources of inspiration.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Anchor protocol and WAVES were some of Friday’s biggest gainers, as crypto markets mainly traded lower at the end of the week. At the time of writing, the global cryptocurrency market cap has dropped over 4%, with GALA and MKR, the day’s biggest decliners.

WAVES

WAVES extended its recent streak on Friday, as the world’s 47th largest cryptocurrency rose for a sixth consecutive session.

Today’s rally in WAVES/USD came as prices rose to their highest level since December 17, breaking beyond resistance of $19.72.

The price of WAVES rose to an intraday high of $20.87 on Friday, following a low of $17.95 less than 24-hours ago.

Technical Analysis: ANC Captures Friday's Largest Gains, as WAVES up Nearly 100% in the Last Week
WAVES/USD – Daily Chart

As of writing this, WAVES traded 4.07% higher, as the 14-day RSI rose to its highest level since January 31.

This rise in price strength has also seen the RSI move to its highest point since last August, when it traded above the 80 level.

This may be bad news for bulls, however, as with prices now clearly overbought, whilst trading at resistance, bears are likely to be nearby.

Anchor protocol (ANC)

Friday’s biggest gainer in the crypto top 100 was undoubtedly anchor protocol (ANC), which rose to a new all-time high, following recent gains.

Anchor protocol was up for a fourth successive session, following its breakout from the long-term resistance point of $4.05.

This latest move occurred when the 14-day RSI failed to break its floor of 69, and instead rose to a now record level of 83.

Technical Analysis: ANC Captures Friday's Largest Gains, as WAVES up Nearly 100% in the Last Week
ANC/USD – Daily Chart

As of writing, ANC/USD is up almost 24%, hitting an intraday high of $5.53 in the process of today’s gains.

Overall, ANC is up over 55% in the last seven days, and should this bullish pressure continue, we could be set for more record highs this weekend.

With prices being overbought, is this the perfect time to sell ANC? Let us know your thoughts in the comments.

eliman@bitcoin.com'
Eliman Dambell

Eliman brings a diversified point of view to market analysis, having worked as a brokerage director, retail trading educator, and market commentator in Crypto, Stocks and FX.




Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.