Experts explain why ETH is better than bitcoin, and Ripple is planning an IPO after the trial with the SEC
Experts explain why ETH Is better than Bitcoin
In April, the value of ETH increased by 41%, while the BTC rate fell by 8%. JPMorgan analysts believe this trend will continue.
Experts believe that bitcoin is mostly perceived as a store of value competing with gold. And Ethereum became the backbone of the cryptocurrency economy and acquired the status of a medium of exchange.
“To the extent owning a share of this [ether’s] potential activity is more valuable, the theory goes, ether should outperform bitcoin over the long run,” JPMorgan said.
According to analysts, the reasons why ETH has outperformed BTC in recent weeks in terms of profitability are more stable liquidity, a stronger basis of demand, and a weak dependence on derivatives markets.
Ripple is preparing to go public after the trial with the SEC
Yoshitaka Kitao, SBI Group CEO announced Ripple’s plans to go public. According to him, the company intends to conduct it after the end of the trial with the SEC.
SBI Group is the largest cryptocurrency project partner in Japan. Last year, the head of Ripple, Brad Garlinghouse, spoke about the new boom in IPOs of crypto companies, as well as about Ripple’s participation in this trend.
“After the trial ends, Ripple will go public. Chris wants this,” Kitao said, referring to one of the founders of the American company, Chris Larsen.
Fintech startup Paxos raises $300 million
Fintech startup Paxos raised $ 300 million from Oak, Declaration Partners, PayPal Ventures, Mithril Capital.
“We’re thrilled to announce — we’ve raised $300M in our Series D with a valuation of $2.4 billion, making us one of the fastest growing fintech startups in the world,” said Paxos on Twitter.
As the head of the fintech startup Charles Cascarilla noted, the attracted funding will be used to scale the business, including through acquisitions of other projects. In addition, he noted that the investment reflects the rapidly growing demand for Paxos services.
The Paxos CEO said the new investment is a signal to potential partners in the financial industry that the company will exist for many years.