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During the nascent stages of the blockchain industry, things were simple. The market was dominated by a single blockchain, the Bitcoin network. The purpose of Bitcoin, and therefore blockchain technology itself, was clear. However, as time progressed, multiple competing blockchains emerged, each with its own unique mix of features, strengths, and shortcomings.

This muddied blockchains raison detre and created a considerable challenge. How do you promote the adoption of blockchain technology when the underlying technology itself is largely misunderstood? And the entire industry has many individual, siloed, incompatible networks; each vying for prominence.

To have any hope of achieving widespread adoption, the industry needs a decentralised wide area network of multiple interconnected blockchains. Such an interoperable system could enable the seamless transfer of value and information from one blockchain to another. While it is still a work in progress, this process is commonly referred to as cross-chain bridging. Wanchain exists to make interoperability happen.

Today, there are many popular blockchain networks. While the Bitcoin Network remains the most valuable, Ethereum is arguably the most popular. Others, such as Avalanche and BNB Chain are also notable. Its no surprise, then, that many people want to use their BTC on their preferred networks to access a wider range of decentralised applications.

To use BTC on blockchains other than the Bitcoin Network, the BTC first needs to be wrapped, or cloned. Cloned BTC lets users use their BTC in recent yield-generating innovations like lending, borrowing, and staking. Several varieties of cloned BTC currently exist. Well-known examples include:

Lets take a closer look at each and explore how to transform BTC into one of these cloned BTC.

WBTC, or Wrapped Bitcoin, is the most popular cloned BTC on the Ethereum network. Each WBTC is backed by a full BTC held by a professional custodian. In order to transform BTC into WBTC, users must submit a request to an approved WBTC merchant. Users must then pass Anti Money Laundering (AML) and Know Your Customer (KYC) procedures. If approved, the merchant will send BTC to the custodian who then mints and returns the equivalent amount of WBTC. To reverse the process, users must also pay a fee. While WBTC is the most used cloned BTC in the industry, the cost of converting BTC to WBTC is high merchants usually charge a 0.3% premium. Importantly, this is a totally centralized and permissioned solution, only available to select users.

3rd party cross-chain bridges typically dont offer BTC to WBTC routes while cross-chain swaps suffer from high slippages and fees, so relying on centralised exchanges or manually purchasing WBTC on a DEX remain the most common ways for regular users to get WBTC.

BTCB, or Bitcoin BEP2, is a cloned token issued on the BNB Chain by Binance, the largest centralised exchange in the world. Each BTCB is backed by a full BTC held in reserve by Binance. In order to transform BTC into BTCB, users need to create an account with Binance or another CEX and, depending on the exchange, complete KYC procedures. While the cost of transforming BTC into BTCB is relatively low users only need to pay the exchanges trading and withdrawal fees this is, again, a totally centralised and permissioned solution.

3rd party cross-chain bridges typically dont offer BTC to BTCB routes while cross-chain swaps suffer from high slippages and fees, so relying on centralised exchanges remains the most common way regular users get BTCB.

Issued on Avalanche, BTB.b is a cloned token backed by a full BTC on the Bitcoin Network. In order to transform BTC into BTC.b, users must install a dedicated extension wallet called the Core Extension. While this is a permissionless solution and the cost of transforming BTC to BTC.b is low, it is centralised and requires great effort.

3rd party cross-chain bridges typically dont offer BTC to BTC.b routes while cross-chain swaps suffer from high slippages and fees, so using the Core Extension or manually purchasing BTC.b on a DEX remains the most common solutions.

It is painfully clear that transforming your BTC on Bitcoin into one of either WBTC on Ethereum, BTCB on BNB Chain, or BTC.b on Avalanche isnt easy or even possible for most users. There is no cheap, easy, decentralised mechanism to do so.

Until Now.

Wanchains BTC XFlows is a decentralised cross-chain solution that enables native-to-native cross-chain transformations between BTC on Bitcoin and many of the most popular varieties of cloned BTC. In other words, BTC XFlows lets you move seamlessly between BTC on Bitcoin, BTBC on BNB Chain, BTC.b on Avalanche and WBTC on Ethereum in a fast, cheap, non-custodial and decentralised way. And its only on Wanchain.

Not only is BTC XFlows a totally permissionless and decentralised solution, it is also low-cost and extremely easy to use. Rather than needing to seek the approval of approved merchants, registering with centralised exchanges or installing dedicated software, Wanchains BTC XFlows is incredibly easy to use. Users only need to use their favourite BTC wallet and a popular web browser extension, like Metamask. You dont need to ask Wanchain for approval either. You just click and go.

As if that werent enough, Wanchains BTC XFlows allows all users to freely move between BTC.b, BTCB and WBTC, without needing to first move back to Bitcoin. In other words, users can transform their WBTC directly into BTCB or BTC.b, and vice versa. Other notable 3rd party bridges dont offer this functionality, while cross-chain swaps suffer from high slippage and fees. Wanchains BTC XFlows is ALWAYS 0% slippage, by design.

An easy, permissionless, decentralised way to transform BTC into WBTC, BTCB or BTC.b has finally arrived just use Wanchains BTC XFlows at bridge.wanchain.org!

Wanchains XFlows arent limited only to BTC. XFlows enables native-to-native cross-chain transformations for other prominent assets as well, including ETH, USDT, and USDC!

Other XFlows Wanchain offers are USDT, USDC, and ETH!

Try XFlows today at bridge.wanchain.org

For more cryptocurrency news, check out theAltcoin BuzzYouTube channel.

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Wanchain: The Best Bitcoin Bridge - Altcoin Buzz

The week ending June 19, 2023, saw minor outflows totaling $5.1 million from digital asset investment products, as reported in CoinShares Digital Asset Fund Flows Weekly.

Despite these outflows, altcoins experienced inflows totaling $2.4 million following the prior weeks price crash, suggesting a shift in investor sentiment.

While Ethereum (ETH) experienced the most significant outflows for the week, totaling $5 million, altcoins like XRP, Cardano, and Polygon garnered inflows of $1 million, $0.6 million, and $0.2 million, respectively. These inflows indicate that investors are adding to their ETP positions in these cryptocurrencies, despite the overall negative trend in digital asset investment products.

Comparing the data to the previous week, where Ethereum ETPs saw their largest single week of outflows since the Merge, the overall trend appears to persist with continued outflows. However, a shift in investor sentiment toward all major altcoin ETPs, except Tron, is emerging.

This trend raises questions about the future of digital asset ETPs, particularly in light of recent filings by Fidelity and BlackRock to start Bitcoin ETFs. With interest rate hikes leaving investors cautious, as noted by CoinShares, it remains uncertain how these new offerings will impact the digital asset investment landscape should they be accepted.

Further, there is still uncertainty around several assets, including ADA and Polygon, which saw inflows this week due to the SEC declaring in court filings that it considers those tokens to be securities in the Coinbase and Binance lawsuits.

While the long-term implications of this trend are still uncertain, it highlights the evolving interest in digital assets through traditional financial vehicles like ETPs.

Disclaimer: Our writers' opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.

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Altcoin ETPs see inflows amid ETH, BTC outflows as alts recover - CryptoSlate

A cryptocurrency analyst is revising his predictions for Cardano (ADA), Polygon (MATIC), and Chainlink (LINK) in relation to Bitcoin (BTC) as the altcoin market shows signs of vulnerability.

In a recent video update, Nicholas Merten, the host of DataDash warned about the potential for significant corrections of up to 95% in the current market cycle for various altcoins.

He said, We can take it back here, look at a whole range of different plays here in the market, and you will see similar patterns here altcoins typically correct. Even Ethereum in the last bear market in 2018 corrected over 95% from all-time highs. So dont doubt that history could repeat itself.

Merten issued a warning about a potential 50% decrease on the ADA/BTC chart. Currently priced at approximately 0.00001000 BTC ($0.259), Merten suggests that ADA could drop to around 0.00000450 BTC ($0.12). He suggests considering whether ADA can sustain its trend of higher lows against Bitcoin. If not, he predicts a decline to the range of 500 Satoshis to 450 Satoshis, representing a decrease of over 50% from the current level.

Moving on to Polygon (MATIC), Merten expresses a more cautious view, stating that it could experience a decline of up to 90% against Bitcoin from its all-time highs. He highlights the significance of liquidity and suggests that a lack thereof could lead to a correction of around 70% to 78% down to approximately 1,450 Sats. He further mentions the possibility of MATIC falling towards 1,000 Sats, entering the territory of a traditional corrective decline ranging from 85% to 90%.

Also Read: Altcoin Crash Might Get Worse: Analyst Predicts More Bloodbath in Crypto Market

Lastly, Merten turns his attention to Chainlink, a decentralized oracle service. He points out that Chainlink has been underperforming Bitcoin since August 2020 and warns of a potential 90% decline from its peak against Bitcoin if it continues to trend downwards. He specifically mentions the possibility of Chainlink dropping to 1,700 Sats, representing a substantial decline from its previous peak.

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Altcoin Crash Could Be Imminent: Cardano (ADA), Polygon (MATIC), and Chainlink (LINK) In Danger - Coinpedia Fintech News

Act I, the SEC sues Binance and Coinbase to take them off the market. Second act: Citadel, Blackrock, Charles Schwab, and Fidelity file to open a Bitcoin ETF. Act III, these investment groups announce they will open their crypto exchange, EDX.

Lets discover more about what The SEC, BlackRock, and other companies are doing to take the web3 party to their house.

Citadel, Blackrock, Charles Schwab, and Fidelity are renowned investment powerhouses that have firmly established themselves in traditional financial markets. These institutions command significant influence and possess vast resources. It is reasonable to assume that they are keenly aware of the transformative potential of cryptocurrencies and blockchain technology, which have garnered attention worldwide. Especially Bitcoin.

Considering what is happening these days, these investment giants may be eyeing the crypto space to maximize their exposure to Bitcoin. They know that the next Bull Run will be massive in the next Bitcoin halving. So, if they build their own crypto exchange while having other exchanges unable to operate in the US, they could potentially monopolize the market.

For Blackrock and company, it is all profit, since:

Nowadays, there are only 13% of existing Bitcoins in exchanges. Now imagine that in the worst-case scenario, the BlackRock ETF buys the vast majority. Do you think they will be happy with so few Bitcoins knowing that trillions of dollars of investment are coming? They will most likely start issuing ETFs that are not backed with Bitcoin that will float in their wallets.

The greed for money will cause them to do the same thing the United States did when it cut off gold backing for the dollar in 1971 with the Bretton Woods treaty. But in the crypto version. Not to confuse, ETFs will be the fictitious ones, they will not create more bitcoin.

As the world gravitates toward a more digitized economy, the interconnectivity between traditional financial systems and emerging technologies becomes paramount. So, Central Bank Digital Currencies (CBDCs) are being explored and implemented by governments globally. In this context, the introduction of a new cryptocurrency exchange by these investment giants aligns with the ongoing trend toward digital financial infrastructure.

So, If these investment groups successfully establish their own cryptocurrency exchange, along with the potential implementation of the CBDC FEDNow, it is plausible that the future of buying Bitcoin and other cryptocurrencies in the United States could be limited to the wealthiest individuals. Then, the increased regulation and concentration of power in the hands of a few powerful players could inadvertently restrict access for retail investors, stifling innovation and hindering the decentralized ethos that underpins cryptocurrencies.

Thanks to this, what will most likely happen when Bitcoin ETFs work is that Blackrock and the company will start buying Bitcoin en masse through their own exchange. As a result, this will cause the price of Bitcoin to rise exponentially. This can happen during the next year, which is the time for the next Bitcoin Halving.

Finally, the big investors who laughed at Bitcoin in the past years are now doing their best to buy it in large quantities and take advantage of the next bull market.

For this, they are using the SEC to take out recognized exchanges such as Binance and Coinbase in the U.S. and make their own exchange to have the prominence they are used to having in traditional finance.

Note: This is an analysis based on events up to June 22, 2023. I will bring out other articles with updates in the future.

For more cryptocurrency news, check out theAltcoin BuzzYouTube channel.

Our popularAltcoin Buzz Accessgroup generates tons of alpha for our subscribers. And for a limited time, its Free. Click the link and join the conversation today.

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Why did the SEC Sue Binance and Coinbase? - Altcoin Buzz

The bull market is around the corner. This means theres a chance to be a millionaire if you hold the right token. Very few tokens qualify as right as much as Ethereum.So ETH is one of your best chances to be a millionaire.

But how much ETH do you need to achieve this? Thats what we want to show you.

Before I come to an exact number of ETH you need to become a millionaire, you and I need to understand where Ethereum could go from here. But we first need to understand where its been. Most of us are not whales holding hundreds of thousands of ETH. So this means we will need to see a big price move to become an Ethereum millionaire.

But it could happen. Ethereum isnt a stranger in the crypto community. It is currently ranked #2 by market cap, just behind Bitcoin.

So, the current ETH price is $1,810.11. It has a circulating supply of 120,206.250. Ethereum has a market cap of $217,555,405,540. This means it makes up a significant portion of the $1 trillion crypto sector as a whole.

Ethereum is your best bet in crypto, right after Bitcoin. Its all-time high was $4,815.00 on November 9, 2021. ETH took a hit from the bear market, like everything else. But, it still has a promising future. Ethereum is arguably the altcoin with the biggest potential.Ethereum has several factors that guarantee its long-term success.

Also, Ethereum is the first smart contract platform. Smart contracts are the pillar behind the rise of decentralized finance (DeFi). So, Ethereum is home to some of the best DeFi projects.

Ethereum is the most widely used platform for NFT marketplaces. I agree that NFTs popularity has gone down. But if it were to pick up, Ethereum would have a leading position.

Ethereum is arguably one of the most popular blockchains for metaverse projects. Top metaverse projects like The Sandbox and Decentraland are built on Ethereums blockchain.

Ethereum hosts several other cryptocurrencies on its network. Projects like Polygon and Shiba Inu rely on Ethereum. So, Ethereum has all it takes to succeed and exceed its past glory. Do you think Ethereum can hit a new all-time high? Let us know in the comments below.

We asked our Technical Analysis team to look at Ethereum. And heres what they had to say:

ETH is currently trading at a crucial support zone. Failure to hold this support at $1673 could lead to a drop towards $1478, $1194, and $1081, which seems more likely. If ETH manages to stay above $1673, we could start seeing a continuation of bullish momentum towards $2133, $2684, and $3561, which is a less likely scenario.

So can ETH hit a new ATH? I definitely think it can in the next bull run.ETHs lowest point before the start of the last bull market was 89.66 on March 9, 2020. But it picked up in the 2021 bull market and hit an ATH of $4,815.00 on November 9, 2021. Thats about 54.01X.

Ethereum has an even more developed ecosystem now than it did then. There have also been a lot of updates and upgrades, such as

Weve seen how crazy ETH gets in previous bull runs. I doubt if anything is going to change that in the next bull run.

So youve seen our bull arguments based on:

So how much ETH do you need to be a millionaire? We see ETH surpassing its ATH in the next bull run. Our analysis places it somewhere around $6000. If thats the case, youll need about 166.67 ETH tokens to be a millionaire.

Ethereum could definitely go above $6k in the next bull run. But I think thats a more comfortable probability. For 2023, Ill place Ethereums near-term high at $2,100. Whats your take on all of these? Let us know in the comment section below.

For more cryptocurrency news, check out theAltcoin BuzzYouTube channel.

Our popularAltcoin Buzz Accessgroup generates tons of alpha for our subscribers. And for a limited time, its Free. Click the link and join the conversation today.

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How Many ETH to Become a Millionaire by 2025 - Altcoin Buzz