What is the future for decentralized finance? – During its first year of existence, the DeFi ecosystem was restricted to Ethereum . However, in the face of growing congestion on the network, many blockchains and second-layer solutions have sprung up in the hope of providing a more economical alternative to Ethereum.

Blockchains EVM compatible

The DeFi ecosystem was born at the beginning of 2020 , with the sudden emergence of many decentralized financial protocols. Among them, we can cite the birth of many MAs such as Uniswap or Balancer , as well as the proliferation of so-called lending protocols , such as Aave or Compound . 

However, as the DeFi ecosystem evolved , Ethereum faced a significant congestion issue causing transaction fees to rise. 

Faced with these constantly increasing costs, several other so-called compatible EVM blockchains have emerged . As a reminder, these blockchains offer an environment similar to that of Ethereum, allowing developers of decentralized applications to migrate them without having to modify them . 

Among these blockchains, we can cite the Polygon commit chain as well as the Binance Smart Chain . In the space of a few months, these latter have seen their activity explode to reach several thousand daily transactions. 

Subsequently, the long-awaited second layer solutions were deployed on Ethereum. Although they have not yet reached the level of compatible EVM blockchains, these solutions are attracting new users every day . 

In total, the DeFi ecosystem outside of Ethereum now represents $ 44 billion , spread over several hundred protocols hosted on ten different channels . 

Ethereum remains the queen chain

The Ethereum blockchain remains, despite everything, queen of DeFi , despite the almost constant rise in fees and significant congestion. 

Thus, the DeFi ecosystem on Ethereum currently represents more than 121 billion dollars , which is three times more than the rest of the DeFi ecosystem excluding Ethereum . 

Ethereum powers DeFi at large

This supremacy of Ethereum over the DeFi ecosystem is not surprising. More interesting still, it is the Ethereum network which feeds a good part of DeFi evolving on other blockchains. 

Indeed, according to data compiled by Elias Simos , about a third of the funds were deposited in the DeFi ecosystem outside of Ethereum were deposited from Ethereum via various bridges. 

Thus, 13.28 billion dollars were deposited from Ethereum to other blockchains. 

In practice, it is the bridges connecting Ethereum to Polygon, Fantom and Avalanche that have transferred the most funds. Together, these protocols represent 80% of the funds that have migrated from Ethereum to other chains via bridges. 

Certainly, most of these blockchains are presented as “Ethereum Killer” . However, at present, none of them come close to the king of smart contracts . It would even seem that they are highly dependent on it to attract liquidity. 

Despite its evolution, the DeFi ecosystem remains plagued by a persistent evil: hacks. Thus, many protocols are the target of hackers, all blockchains combined. Recently, the Cream Finance protocol was the target of an attack resulting in the loss of $ 25 million in cryptocurrency .

Litecoin (CRYPTO: LTC), the cryptocurrency that was designed to provide fast, secure and low-cost payments via the blockchain has turned 10 years old.

The Coin: LTC was released on October 7, 2011, and the network went live five days later on October 13, 2011. (Also Read: Solana (SOL) Price Prediction: Why 500 dollars by 2022?)

Today, it is the 15th largest coin by market cap and gets 0.54% in terms of market dominance, according to data from CoinMarketCap.

LTC has a market capitalization of approximately $ 12.35 billion and an outstanding supply of 68.7 million tokens.

The Early Days: LTC, which is an early fork of Bitcoin (CRYPTO: BTC), was founded by Charlie Lee, a former employee of Alphabet Inc’s Google subsidiary (NASDAQ: GOOGL) (NASDAQ: GOOG).

Lee discussed the early days of LTC in a Twitter thread on Thursday. The founder of LTC said that a number of early altcoins did not survive, such as Namecoin, Ixcoin, Locoin, Solidcoin, etc.

See also: Dogecoin Co-Creator, Others Respond to Litecoin-Walmart Fiasco: Why You Shouldn’t Take ‘These Things So Seriously’

“I basically took everything good from those altcoins (speed, CPU mining) and had a fair launch. And that’s why Litecoin has succeeded where others have failed, ”Lee wrote.

“The name Litecoin came to me quite quickly. I first thought of something like an Elitecoin. Then Litecoin jumped out.

So I had to reverse engineer and I managed to create the genesis block on

What a lot of people didn’t know was that I put the title of Steve Job’s death in the Genesis hash. This proves that the genesis block was created after 05/10/11. pic.twitter.com/Zn7tnRBgUM

– Charlie Lee (@SatoshiLite) October 7, 2021

Lee couldn’t help but take a look at Ethereum co-founder Vitalik Buterin, who had criticized the choice of Litecoin’s name.

I forgot to mention that I chose Litecoin because Litecoin is the Lite version of Bitcoin. It’s faster, cheaper and easier to use.

And we got to see a young & unknown (at the time) @VitalikButerin hating the name. I prefer Litecoin to Etherium. Wait, is this Ethereum? pic.twitter.com/kCLUUNbiel

– Charlie Lee (@SatoshiLite) October 7, 2021

The Investment: LTC hit a record high of $ 412.96 in May and is trading 56.46% below those levels. At time of going to press, on a 24-hour basis, LTC has traded 2.82% higher at $ 180.18.

Since the start of 2021, LTC has gained 43.29%. In comparison, BTC rose 84.58% over the same period.

The first available CoinMarketCap data shows that LTC was trading at $ 4.35 on April 28, 2013. If an investor had held onto their investment since then, they would have gained 4042.06% so far.

This means that $ 1,000 invested at the time would have bought 229.88 LTC, which would be worth $ 41,420.69 today.

Litecoin Prediction and Forecast: LTC Over $165 Now!!

Litecoin Prediction and Forecast: For the next 24 hours Price of Litecoin is predicted to be in range of $ 151 and $ 172.

Litecoin Price Prediction Daily: Current Prices

The current price of Litecoin is $ 167.13 which is 0.32% higher than 24 hours ago.

Litecoin Prediction Daily: Future Prediction

In July 2021, the price of Litecoin hit an extreme low as it was trading around $105. Two months since then, Litecoin hit its highest, since May, and was recently trading close to $230. At this point, it is clear that the rise of Bitcoin is helping the rise of Litecoin too. Alternatively in the last few months, the Litecoin network’s fundamentals have also improved which means that there has been a rise in the number of transactions per second, a rise in the number of addresses and active addresses.

It must be noted that Litecoin (LTC) is one of the very first projects to copy and modify Bitcoin’s code and use it to launch a new cryptocurrency. Now with countries like El Salvador, Cuba stepping in to accept the cryptocurrency, the crypto market has witnessed a rapid rise. Moreover, the announcement of Facebook to include crypto in its payment wallet has heavily boosted the crypto market. Litecoin is one of the latest to add NFT capabilities to its platform.

However, in the last 24 hours, Litecoin saw a crash of over 15% with its price falling to below $163. But the buyers came in and aided the rise of Litecoin once again signaling strong support for the coin. Currently, Litecoin is trading above $180. Therefore, the chances of Litecoin rising once increased.

Litecoin Price Prediction and Forecast: What is Litecoin?

Litecoin (LTC) is just another drop in the wide ocean of Cryptocurrencies. Why are we talking about LTC? because it is coming up as one of the major Cryptos in today’s market. Litecoin is an open-source software that was introduced un the license of MIT/X11. Litecoin can be termed as a peer-to-peer cryptocurrency. Litecoin was introduced in October 2011 as an altcoin, however, in technical terms, LTC is almost similar to Bitcoin.

Charlie Lee is the founder of Litecoin. Lee, back in 2010, wanted to hand the investors an upgraded version of Bitcoin. Something the investors can find handy to rely on or an affordable version of Bitcoin. The term Litecoin (light+coin) is inspired by the name Bitcoin. Litecoin is said to be an ameliorated version of Bitcoin. The added features in Litecoin have certainly made it more reliable than Bitcoin.

After 10 years of its formation, Litecoin, now, ranks amongst the top 10 cryptocurrencies in the world. As per reports, Litecoin has found its place in the center of all crypto transactions. LTC has inspired a better mode of payment since the time of its inception. The most noticeable features of Litecoin have come up as a huge advantage for investors. The features include proficiency in terms of speed and reduction in transaction fees.

Litecoin Price Prediction and Forecast: Price Prediction 2021-2022

Litecoin price was listed at $124.09 at the start of 2021. As of now, Litecoin is being traded at $215.95. LTC has witnessed a rise of 74% from the beginning of 2021 till now. As per the forecast, Litecoin will be priced at $252 at the end of 2021, which will see a growth of +103% in one year. A total rise of 17% is being predicted from this date to the end of the year. Moving into 2022, Litecoin is expected to reach $267 by the first half. However, a drop of $12 is expected in the start of the second half and the market is expected to be around $255 by the end of 2022.

Litecoin Prediction and Forecast: Is Walmart accepting Litecoin?

Litecoin saw a massive rise in price on 13th September after news of the Litecoin and Walmart tie-up circulated and within 30 minutes the price was up 25%. The coin was trading at $232 however, the rise was short-lived.

The news of the Litecoin-Walmart tie-up turned out to be fake. Walmart said a press release announcing a Litecoin partnership is fake. Charlie Lee, the creator of Litecoin, said an employee mistakenly tweeted about the announcement after seeing the fake release.

After the clarification, Litecoin crashed exposing the vulnerable side of the cryptocurrency. Currently, the coin is hovering around $178.

The Facebook outage shows the vulnerability of centralized software solutions. With a view of Diem you can get construction pain. Meanwhile, Bitcoin continues its bull run. (Also Read: “Bitcoin is a great store of value” says Mark Cuban)

With a market capitalization of $ 929 billion, Bitcoin is now the eighth most valuable asset in the world. This mark reached digital gold on the evening of October 4th, displacing Facebook from eighth place. There are two reasons for the change of guard: On the one hand, the social network lost around five percent of its value yesterday because the Group’s online services were not available for hours. According to reports, there were problems with an update that could not be resolved immediately because the employees themselves had login difficulties. In the end, Facebook, Instagram and WhatsApp were offline for around six hours.(Also Read: Solana (SOL) Price Prediction: Why 500 dollars by 2022?)

On the other hand, the crypto currency No. 1 is showing its strongest side these days. On a weekly basis, Bitcoin posted a gain of almost 17 percent, while digital gold made up three percent in the last 24 hours alone. With a market capitalization of $ 929 billion, BTC is of course not far from the $ 1 trillion barrier. Bitcoin took this hurdle for the first time in February of this year, before going into correction mode from May.

Of course, Bitcoin and Facebook are two completely different types of assets and can only be compared to a limited extent. In contrast to the latter, the former does not produce any cash flow, does not generate any sales and there is no chance of dividends with BTC. The latter is also unlikely in the case of Facebook – at least in the short term.

What if Libra fails?

The failure of the Facebook group also highlights its ambitions to get involved in currency competition. As City Telegraph has already reported several times , the Internet giant wants to launch its own digital currency with Diem (formerly Libra). A six-hour failure of a social network is manageable, such a failure with a payment and monetary system is probably not.

At this point it should be pointed out that Bitcoin has an uptime of 99.99 percent to this day. Except for two dropouts (2010 and 2013), the network was always functional. That is the attraction of decentralized systems that eliminate the so-called single point of failure and are therefore much more robust than centralized solutions.

Lightning network on the rise

It’s not just the Bitcoin on-chain layer that is showing strong momentum. Also, Lightning , Bitcoins outsourced scaling solution is growing steadily. Today, October 5th, the second-layer network has a capacity of 3,000 BTC for the first time. This is evident from data from Bitcoin Visuals.

The growth of the network is driven, among other things, by reports such as the integration of Lightning-BTC into the tipping system on Twitter. As we have already reported , iOS users can use the app to send tips in satoshis to other Twitter users.

NBA team owner Dallas Mavericks explains why Dogecoin is preferable to Bitcoin as a means of payment.

The owner of the Dallas Mavericks Mark Cuban is a well-known billionaire. While NBA fans are longingly waiting for October 19th, he explains in an interview with Fox Business his stance on cryptocurrencies, what he expects in the future and why Dogecoin payments for tickets and merch are not a problem with the Mavericks.

Bitcoin as a salary?

Since August 2019 it has been possible to purchase his ticket to Dirk Nowitzki’s former club using Bitcoin (BTC). In March 2021, the Mavericks extended this offer to Dogecoin (DOGE). Cuban himself is now the proud owner of 1,500 Dogecoins and stands behind the means of payment offered by his association. So far, however, he has not paid his players in Bitcoin because they would incur losses through transaction and conversion fees. He therefore considers it more appropriate for each of the players to invest in the crypto currency themselves. You could almost infer from the interview that he even advises them to:

[Cryptocurrencies are] a better investment than a lottery ticket [at least] if you’re trying to get a home run.

Mark Cuban opposite Fox Business

Dogecoin for purchase, Bitcoin for profit

The billionaire explains that Bitcoin is used far less often as a means of payment. Instead, “thousands upon thousands” of sales would be generated using Dogecoin. Cuban expects that DOGE sales will multiply in two weeks after the start of the season. In his eyes, the reason is that “Bitcoin is a different animal” among crypto currencies. It would not be used for payment, but as a store of value, making it “a better alternative to gold”. Cuban believes that people would hold Bitcoin to make a profit. Dogecoin, on the other hand, is a kind of medium of exchange. So a means with which you should also be able to buy NBA tickets and merchandise.

The fact is that Dogecoins are worth far less than Bitcoins. The transaction costs are also lower and there is an unlimited supply of Dogecoin. Undoubtedly an argument for the attractiveness of DOGE over BTC, because you lose less if the value increases in the future.

Dogecoins in the hands of the less powerful

Nevertheless, Dogecoin has a brand that cannot be ignored: A single wallet holds almost 30 percent of all available Dogecoins. In total, only 25 wallets sit on almost half of all Dogecoins. This one wallet, or these 25 wallets, therefore have extreme pricing power. If they sell a particularly large number of coins, the price will (presumably) fall for the entire ecosystem. Even “Dogefather” Elon Musk criticized this as the “only problem”. As BTC-ECHO reported , in February he urged the other whales (even in return for a US dollar payment on his part) to reduce the concentration of the wallets. After that post, the composition actually changed a little, at that time only 20 wallets held over 50 percent of the meme currency.

Crypto on the rise

The owner of the Mavericks also said in an interview that he himself expects a development that is comparable to the establishment of the Internet. However, he does not see Bitcoin, but Ethereum as the driver of this change. The “really relevant network” offers security and decentralization the chance to develop completely new products by means of smart contracts. He believes that in the future, unique business applications will first transform the financial sector and then traditional business models. He himself reveals that he is investing in decentralized insurance applications.

In South Korea, the laws are getting stricter. Now for tax returns, it will be mandatory to include gains cryptomonnaies, and that, as from 1 ^st January 2022. This at least shows that many local reports.

A layout that does not suit everyone

South Korea should postpone tax plans until a sufficiently prepared infrastructure is in place, ruling Democratic Party member Noh Woong-rae suggested . But it seems that his proposal did not receive a favorable reception in the ranks of the authorities. They took a new decision on the tax declaration.

Going forward, digital assets will be subject to a 20% income tax on transfer earnings. However, there is one exception. Authorities said the statement will exclude a minimum taxable amount of 2.5 million won.

To illustrate, take the example of a profit of 3.5 million won made by buying and selling cryptocurrency in 2022. This profit will be subject to a tax of 20% on 1 million won, which is a tax. of 200,000 won. In this case, the profit will be declared the following year.

The solution put in place by the authorities does not really meet the expectations of investors. They said: “We will start paying taxes without any institutional supplement.”

Cryptocurrency exchanges trying to adapt to the new measures

In South Korea, statistics show that 3.8% of the country’s population (around 1.9 million people) own digital assets . And surveys show that the average South Korean trader invests more than $ 6,000 in electronic currencies, which is above the exemption limit of 2.5 million won.

For the South Korean authorities, the goal is not to deprive themselves of a windfall of financial resources. On the contrary, they say they are aware of the importance of cryptocurrencies in the financial market. And it is precisely because of this importance that they want to reorganize the market and better follow the exchanges of digital assets in the country.

In order to achieve the regulatory objectives they have set, the authorities have taken numerous measures. For example, they have forced cryptocurrency exchanges to comply with new measures . Even if some platforms are still reluctant to the idea, others are illustrated by their sense of respect for the instructions given.

Also Read:

• ETH Price Forecast: shares of a start-up tokenized on Ethereum blockchain pushes on towards $4,000
• After Bitcoin in El Salvador, a stablecoin in Peru – Stellar (XML) seduces Latin America
• IMF revealed factors driving the adoption of cryptocurrencies

For example, Upbit, Bithumb, Coinone, and Korbit have met the initial set of requirements. In the case of Upbit , it should be made clear that the exchange has gone above and beyond by creating new verification and KYC standards.

In South Korea, the legislation is getting tougher for cryptocurrency users. Indeed, they now have the obligation to declare the profits they make by carrying out transactions. The purpose of this provision is to better regulate the digital asset market.

In Switzerland, shares in a start-up were tokenized. Credit Suisse and the blockchain-focused company Taurus will also be there.

In a press release, the Swiss- based company Taurus SA made public that shares of the company Alaïa SA were successfully tokenized on the Ethereum blockchain. Taurus SA focuses on digital assets and Alaïa on offering unique sports experiences. The tokenized shares were then deposited with Credit Suisse. The tokenization was carried out in accordance with the laws applicable in Switzerland and the standards of the “Capital Markets and Technology Association” (CMTA).

For this project, Credit Suisse used the services of Taurus. Together it became possible to map the Alaia shares in the booking system and to enable “end-to-end management”. In the press release, Taurus SA refers to its own products that made tokenization possible in the first place. For example Taurus-Capital or Taurus-Protect.

A co-founder of Taurus, Lamine Brahimi, was delighted with the collaboration with Credit Suisse.

We are committed to supporting entrepreneurs and financial institutions in making private wealth digital. And thus enable Corporate Finance 2.0. The collaboration with Credit Suisse’s institutional client team was excellent and I’m looking forward to the next steps in this project. The project is a world premiere and will pave the way for many other projects.

Lamine Brahimi, co-founder of Taurus SA

More opinions on partnership in Switzerland

Adam Bonvin, the founder of Alaïa, also said:

(…) We are particularly enthusiastic about our collaboration with Taurus and Credit Suisse. This enables us to be a pioneer again, this time in the area of ​​digital finance.

Adam Bonvin, founder of Alaïa

Daniel Hunziker, Head Institutional Clients at Credit Suisse, was also delighted with the collaboration. Because he speaks in an interview with finews.ch about the demand of institutional clients for blockchain applications. So he says:

In general, we can say that various customers from different business areas have already asked us about DLT applications. Now we have the opportunity to advise our customers in this regard and to address the possible implementation of their needs.

Daniel Hunziker, Head Institutional Clients at Credit Suisse

Ethereum grabs 25% gain in a week and pushes on towards $4,000.

Ethereum price attempts a breakout higher; bulls target $3,600 close to confirm a new bullish expansion

Ethereum price, unlike Bitcoin, remains inside the Cloud has stubbornly been rejected higher from the top of the Cloud (Senkou Span A) at $3,500. For a bullish breakout to be true, the close and the Chikou Span must be above the Cloud, with the Chikou Span also above the candlesticks. This can only occur with a close at or above $3,600. Until then, downside pressure remains a very likely scenario. The same hidden bearish divergence scenario on Bitcoin’s chart exists for Ethereum as well. To negate that bearish divergence and eliminate any downside pressure threat, a close above $4,000 is necessary.

ETH/USD Daily Ichimoku Chart

Ethereum price dropping below $3,000 would be a signal that further downside movement is likely.