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Investing.com – Bitcoin, and Solana are recovering from their recent losses this Tuesday, January 25, 2022. The is up 5.52% to $36,421, while Ether is up 3.60% to $2,417 and the gained 9.22% to $92.67.
Bitcoin: those who can buy it
“Rich Dad Poor Dad” author Robert Kiyosaki said he would boost his bitcoin stock when BTC hits the $20,000 zone. From his point of view, the fall in price is not the beginning of the end, but the perfect opportunity to buy back some.
He’s not the only one who thinks so, as MicroStrategy (NASDAQ:) and Salvador are also taking advantage of the opportunity.
Paxful CEO Ray Youssef also doesn’t believe the 50 percent correction can stop the cryptocurrency’s success and explained:
“Countries like El Salvador are leading the way by declaring bitcoin legal tender and introducing new financial instruments like volcanic bonds that use natural mining resources. We can expect other countries in Latin America follow, such as Costa Rica, Argentina and beyond. They will establish BTC as a model of success for the general public and an inclusive path to financial freedom.”
Ethereum 2.0 is ancient history
In its latest blog post, the Ethereum Foundation announced that it will no longer use the label Ethereum 2.0. The reason, however, is not the halt in the development of the blockchain improvement, but the fact that this designation has caused confusion among newcomers and various scam attempts have taken place.
In the past, scammers have repeatedly tried to convince users that they should exchange their ethers for new ETH 2.0. Moreover, Blockchain neophytes have not understood that ETH1 and ETH2 are not totally different projects.
It is precisely for this reason that we now prefer to speak of an “execution layer” (Ethereum 1.0) and a “consensus layer” (Ethereum 2.0).
Solana: DDoS not a problem – growing challenge sector has caused instability
Solana co-founder and CEO Anatoly Yakovenko explained that the recent technical difficulties were in no way due to malicious DDoS attacks. Rather, they are regular DeFi transactions, but becoming increasingly complex.
It is precisely this kind of complexity that, together with the influx of new DeFi projects, means that blockchain requirements cannot always be technically adapted as quickly as the situation demands. He pursues :
“The network is suffering from growing pains as it houses a whole new class of demanding developers and users.”
This means that, especially in DeFi, a single action, such as borrowing, triggers a whole series of transactions. In times of increased market volatility, arbitrage bots are added to this, which has recently led to instability in processing.
By Marco Oehrl
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