Hey Guys, I know that everyone is fixated on prices right no | Coin Bureau Insider

Hey Guys,

I know that everyone is fixated on prices right now. Of course, it’s hard not to when you have so much FUD being flung by the MSM FUD flingers

Nevertheless, I like to try find the signal amongst the noise and look for the stats that really matter - adoption.

This is particularly the case when it comes to blockchain use on the likes of Ethereum for example. As you guys know, it makes up a sizable portion of my portfolio and I have been buying the dip over the most recent couple of weeks.

For example, just today there were two really important news stories that caught my eye.

One was the disclosure that Goldman Sachs completed a repo trade on JP Morgan's Onyx blockchain platform. This repurchase agreement was for a tokenized version of a US treasury bond for the JPM coin.

So, why is this relevant?

Well, Onyx is based on Ethereum. It was launched in December of last year and right now, up to $1 billion a day is being processed on Onyx.

Did you know that the daily trade volume on the repo market is between $2-4 trillion?

One of the big challenges for this market is of course daily settlement. Traditional repo markets are very rarely able to settle the funds within a day which of course adds market risk.

With Onyx, the cash and treasuries can be returned instantly - all thanks to smart contracts and blockchain technology.

Yes, this is currently a private blockchain developed by JPM but it can easily be open sourced later on. It is a proof of condition for a time when the Ethereum network is scalable enough to manage something like the daily repo market.

I can totally foresee a future where most of Traditional Finance's settlement mechanisms can be done in a Decentralised way - Defi really can devour TradeFi!

On top of this news, you also have the news that Bank of Israel is considering using Ethereum's technology for their digital Shekel.

Now, as you guys know, I am no fan of CBDCs. However, it's an important step for adoption that cannot be ignored.

Of course, adoption is not the only thing to look forward to for ETH.

Tomorrow we are due to have the official rollout of EIP 1559 on the Ethereum testnet. This is particularly exciting because it will help us get an idea of how it could look when rolled out on Mainnet in July.

Don't forget that EIP 1559 is going significantly blunt ETH inflation and allow future fees to accrue to the whole network.

So, these are the things I am looking out for. Yes, I am also monitoring market moves and I incorporate these in the videos we produce. However, they have less weighting in my investment thesis than longer term trends



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Sources:

Goldman uses Onyx https://www.bloomberg.com/news/articles/2021-06-22/goldman-sachs-begins-trading-on-jpmorgan-repo-blockchain-network

Digital Shekel https://www.bloomberg.com/news/articles/2021-06-23/bank-of-israel-to-use-ethereum-tech-for-digital-shekel-globes

EIP 1559 Timeline https://blog.ethereum.org/2021/06/18/london-testnets-announcement/