13th Feb : Crypto & Coffee at 8
🟢 Ethereum Network New Validators 🚀 Philippines ✅ Wholesale CBDC ❌ Retail CBDC Crypto.com’s Formula 1, + UFC partnership paying off

🔥 Crypto Fear & Greed Index = GREEN but will CPI numbers that will be released later in the day impact the price of #BTC & #crypto? Check out Blockchain DXB’s Crypto & Coffee at 8 to get our commentary on it

🟢 The Ethereum network is experiencing a surge in the number of validators looking to stake their ether (ETH), with over 7,000 validators currently in the entry queue. This backlog is expected to be cleared in just over 48 hours, representing over 225,000 ether ($562 million). Despite the increase in staking activity, the annualized percentage yield on staked ether remains unchanged.
- The waitlist for new Ethereum validators is now the longest since early October.
- The renewed interest in staking is noteworthy as the yield on staked ether remains below 4%.https://lnkd.in/dRQ-WgAe
- Ethereum limits the number of new validators that can join the network per epoch or the time it takes to process blocks on the blockchain. This results in a backlog. An Ethereum epoch is 6.4 minutes long.
More info on this via CoinDesk here https://lnkd.in/dcMPjr8w

❓ Why is there a surge in the number of validators?
- Spot Ethereum ETF on 23rd May 2024?

🟠 The Philippines’ central bank is not considering a retail version of a digital currency due to concerns about potential bank runs. However, it is likely to issue a wholesale central bank digital currency (CBDC) within two years, according to Governor Eli Remolona Jr. The CBDC will not be based on blockchain or digital ledger technology, as other central banks’ experiences with blockchain have not been successful, Remolona stated. More info via INQUIRER.net here https://lnkd.in/dmB2BhrZ In a recent chat with business editors, Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said the decision was to develop wholesale rather than retail CBDC for the local market. Blockchain or distributed ledger technology won’t be used,

🚨 Crypto.com’s partnerships with Formula 1 (F1) and the Ultimate Fighting Championship (UFC) have boosted its growth in the cryptocurrency market. President Eric Anziani highlighted these deals, underscoring their role in enhancing global brand recognition. Market surveys by ESPN show strong awareness among retail cryptocurrency users. F1 races averaged 1.11 million viewers per race in the US in 2023, with over one billion global viewers in 2022. Even UFC events have sold millions of PPVs. Overall, these partnerships have expanded Crypto.com’s reach and solidified its position in the industry. Info via CoinDesk https://lnkd.in/dcMPjr8w

🟠 Two UAE news (See slides)
⚡ The Hashgraph Association announces a major strategic partnership with the Ministry Of Investment Of Saudi Arabia
⚡ World Governments Summit 2024: UAE’s big bet on Artificial Intelligence (US-UAE Business Council report)

For slides click here: http://tinyurl.com/3hpm2ryc

LinkedIn Profile: https://tinyurl.com/bdeevbru

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