💲 Ethereum, The Amazon of Crypto

Morning ladies and gentlemen! Really ugly weekend for the Crypto market. Taking a look into the Mid Caps Index we can see a breakdown on the key support to levels not seen since 2 months. Let’s see the response over the main range at $3, which will be critical: 

The AI Index is back to the main horizontal support breaching below the $5 range. Also at a very critical stage, needs a strong bounce to jump back the momentum: 

Ethereum’s Untapped Potential: The Amazon of the Crypto World? 

According to 21Shares analyst Leena ElDeeb, Wall Street investors remain cautious about Ethereum’s potential, drawing a parallel to Amazon’s early days when its long-term potential was still uncertain. Ethereum has evolved significantly, now powering over $140 billion in decentralized finance. 

Comparison with Amazon: Ethereum’s complex use cases resemble Amazon’s early potential, suggesting long-term growth. 

Low ETF Inflows: Spot Ether ETFs have seen 9% of Bitcoin ETF inflows, as investors remain cautious. 

Institutional Hesitation: Short-term investors await clarity on Ethereum’s potential and staking approvals from U.S. regulators. 

Growing Ecosystem: Ethereum boasts 200,000+ developers and support from firms like BlackRock, PayPal, and Visa. 

Layer-2 Revenue Impact: Layer-2 adoption reduces Ethereum mainnet fees short-term but could contribute to growth long-term. 

As spot Ether ETFs have seen modest inflows compared to Bitcoin ETFs, experts believe greater understanding and market maturity are necessary for more institutional interest. 

Crypto in Politics: Key Legislation Shaping the Future of Digital Assets in the 2024 U.S. Election 

As the 2024 U.S. elections approach, digital assets have emerged as a significant political issue, with industry advocates pushing for pro-crypto policies. 

Despite this, the U.S. still lacks a comprehensive regulatory framework, leaving legislation fragmented. 

Growing Political Focus: Digital assets have become a central topic in the 2024 U.S. election, spotlighting regulatory uncertainty. 

FIT21 Act: Proposes regulatory clarity, with assets regulated by the CFTC if sufficiently decentralized. 

CBDC Anti-Surveillance State Act: Opposes a consumer-facing CBDC, favoring privacy. 

Clarity for Payment Stablecoins Act: Proposes state-level regulation for smaller stablecoin issuers. 

Digital Asset Anti-Money Laundering Act: Requires crypto providers to follow traditional financial reporting standards. 

Keep Your Coins Act: Protects consumers’ rights to use self-custodial wallets. 

Other Important Bills: Include acts on investor accessibility, anti-illicit finance, and blockchain regulatory clarity. 

Key bills include acts addressing decentralization, stablecoins, CBDCs, and anti-money laundering. Understanding these bills is critical for crypto-focused voters as they evaluate candidates’ positions. 

Predicate 

The Origins: 

Predicate is a network for simplifying transaction prerequisites that uses a generalizable policy engine built for smart contracts. 

Users of Predicate define rules for on-chain interactions that end up building a pre-transaction logic into decentralized applications. The combination of those rules are used to make policies, which are stored on Ethereum and can be updated at any time by the policy owner. 

The Operative: 

Once Predicate has been integrated into an application the order flow would look like this: 

Client sends a request to validate a transaction that’s sent to the Operators. 

Operators verify if the transaction can be approved or denied according to the rules of the corresponding policy. 

Middleware sends the response (approved/denied) to the client’s interface. 

If favorable, the Client can now sign and submit the transaction on-chain, including Predicate Signatures in the data field. 

Before on-chain execution the Client contract verifies signature validity. 

Summary: 

The project managed to raise $7 Million in funding recently with backers like 1k(x), Tribe Capital or Frigment Capital among multiple others. The launching date is still to be announced. 

In blockchain technology, a comprehensive framework to implement rules and policies at the smart contract level is something that will be more necessary as network activity and applications become more complex.