Ethereum's long-term prospects appear very promising. This suggests that token holders are showing significant interest in both the asset itself and the rewards associated with it: On October 8, blockchain data provider IntoTheBlock reported that 28.9% of all ETH had been put on the map. That's up markedly from 23.8 percent in January.
This also means that 5.1 percent of total #ETH has been put on the card in the past 10 months; IntoTheBlock also notes that 15.3 percent of total ETH has been blocked for more than three years, indicating long-term confidence in Ethereum's future.
Despite increased betting activity, the price of #Ethereum is under downward pressure; ETH was performing strongly in the first half of 2024, but the token price has fallen in recent weeks.
In March, ETH hit its yearly high, but prices have since fallen and are currently around $2,400. Analysts attribute the recent drop to selling pressure from early investors and a lack of demand for spot-listed Ethereum mutual funds.
Meanwhile, Ethereum co-founder Vitalik Buterin recently voiced his support for lowering the minimum requirement for solo bids. Buterin took part in a discussion on Site X on Oct. 3, where he acknowledged that the current requirement of 32 ETH (equivalent to about $80,000) could discourage broader participation. He acknowledged that it could be discouraging. While the betting pool allows users with less money to participate, Buterin's comments shed light on the need for a more affordable single betting option to encourage wider participation in the Ethereum betting ecosystem.
Bison, a #cryptocurrency trading platform owned by the Böerse Stuttgart Group, has launched an insurance betting service for Ethereum users, allowing them to bet from 0.005 ETH and receive weekly rewards. The initiative is backed by German companies, including Munich Re, a global reinsurance company that offers protection against common risks in cryptocurrency betting.
Insurance also covers operational errors, technical failures and fraud, providing users with additional peace of mind when placing assets.
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