IMPORTANT POINTS:
- The firm partners with SBI Remit, the remittance division of SBI Group, to offer services in the Philippines, Vietnam, and Indonesia using XRP.
- The collaboration will allow citizens of these countries to receive international transfers in their native currencies.
- SBI, with assets of 138 billion, selected these destinations due to the high volume of remittances they receive, using XRP as their currency.
Cryptocurrency investment heavyweights on the Ethereum ($ETH) platform have triggered an unprecedented financial move.
In a period as short as 24 hours, these entities have invested an impressive sum that exceeds 400 million in Ethereum, the second cryptocurrency with the highest market capitalization.
Based on information from Santiment, and as noted by renowned crypto expert Ali Martinez, these prominent figures in the Ethereum world acquired around 260,000 ETH tokens, equivalent to almost $425 million, in a single day.
This increase in investment comes at a peculiar time for Ethereum, as it has seen a 4.7% decline in value in one week. This drop is part of a broader adjustment in the cryptocurrency market, which has seen its total capitalization dwindle, dangerously close to $1 trillion.
In monthly terms, Ethereum has registered a drop of 1.7% in its price. However, from an annual perspective, it has experienced a slight decline of 1.7% since its inception, starting the year with a value close to 1,560 and managing to overcome, albeit ephemerally, the 2,000 barrier.
While Ethereum faces these challenges, other cryptocurrencies such as Solana ($SOL) and Cardano ($ADA) are gaining ground, especially in the realm of decentralized finance (DeFi). It is noteworthy to note that Visa, the colossus of financial transactions, has diversified its operations by incorporating Solana into its settlement network.
But Ethereum is not far behind in innovation. It is in a constant process of evolution to establish itself as the global supercomputer. With a view to optimizing their platform, the developers are working on optimistic rollups, a solution that bundles transactions to process them more efficiently before integrating them into the Ethereum mainnet.
A crucial aspect in the development of Ethereum is security. The introduction of smart contract wallets, it seeks to offer users a more secure way to store their funds, moving away from traditional private keys and using smart contracts as mediators.
Last but not least, Ethereum seeks to strengthen the privacy of its users by implementing hidden addresses. These one-time addresses are intended to hide the identity of the recipients, providing an additional level of anonymity in transactions within the blockchain.
