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Will Banks Use Ethereum Network? Debate Intensifies
The Ethereum network is making headlines again after being discussed by macro-investor Raoul Pal who said banks will be using the technology in the future.
Pal’s Comments
* Raoul Pal referred to those saying that Ethereum was becoming irrelevant as hilarious, stating that it was still developing and getting adopted.
* Pal emphasized that all banks used technologies with proven track records, and all banks will use Ethereum.
Community Reactions
* Several community members doubted that traditional banks would use one blockchain technology.
* Bitcoin and crypto lawyer Bill Morgan posted Pal’s comments, which some thought were ironic rather than pro-Ethereum or anti-Ethereum.
Background on FXRP Token & Interoperability
* The topic was sparked by the temporary pausing of FXRP transfers linked to rsETH problems.
* Transfers between Ethereum and Flare networks had been paused, while FXRP tokens outside of Flare network could not be redeemed before their return.
* Main processes of Flare network continued functioning, yet the situation made people question the interoperability between blockchains.
Current Status of the Ethereum Network
* Ethereum coin is currently trading at around $2,300.
* It rose by over 6% over the last week despite falling slightly from the day before.
* Market capitalization stays above $280 billion.
#Ethereum #ETH #BanksOnEthereum #RaoulPal #EthereumAdoption
$ETH
The Ethereum network is making headlines again after being discussed by macro-investor Raoul Pal who said banks will be using the technology in the future.
Pal’s Comments
* Raoul Pal referred to those saying that Ethereum was becoming irrelevant as hilarious, stating that it was still developing and getting adopted.
* Pal emphasized that all banks used technologies with proven track records, and all banks will use Ethereum.
Community Reactions
* Several community members doubted that traditional banks would use one blockchain technology.
* Bitcoin and crypto lawyer Bill Morgan posted Pal’s comments, which some thought were ironic rather than pro-Ethereum or anti-Ethereum.
Background on FXRP Token & Interoperability
* The topic was sparked by the temporary pausing of FXRP transfers linked to rsETH problems.
* Transfers between Ethereum and Flare networks had been paused, while FXRP tokens outside of Flare network could not be redeemed before their return.
* Main processes of Flare network continued functioning, yet the situation made people question the interoperability between blockchains.
Current Status of the Ethereum Network
* Ethereum coin is currently trading at around $2,300.
* It rose by over 6% over the last week despite falling slightly from the day before.
* Market capitalization stays above $280 billion.
#Ethereum #ETH #BanksOnEthereum #RaoulPal #EthereumAdoption
$ETH
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