The widespread adoption of Ethereum (ETH) has continued to grow, as the price of the second-largest cryptocurrency by market capitalization recovers from the January market crash.

It is no longer news that whale investors have used the recent market dip to increase their Ethereum holdings, as thousands of ETHs have been purchased and transferred from exchanges to unknown wallet addresses. 

While whale traders have been on an ETH accumulation spree, small traders do not want to be left out of the Ethereum adoption trend. 

Fresh data suggests that the number of small-time investors holding at least one ETH has set a new all-time record, a move that bodes well for the second-largest cryptocurrency by market capitalization. 

Glassnode data suggests that the number of addresses holding at least one ETH has reached a new all-time high (ATH). 

? #Ethereum $ETH Number of Addresses Holding 1+ Coins just reached an ATH of 1,423,855

Previous ATH of 1,421,792 was observed on 05 February 2022

View metric:https://t.co/IuKpD49gML pic.twitter.com/VmPCUzqVSh

— glassnode alerts (@glassnodealerts) February 9, 2022

At press time, the total number of such addresses now stands at 1,423,856, surpassing the previous ATH of 1,421,792 recorded on February 5, 2022. 

Ethereum is becoming more popular by the day following the massive interest in several niches of the network, including decentralized finance (DeFi) and non-fungible tokens (NFTs). 

Both sectors have continued to lure retail and institutional investors as billions of dollars flow in and out of related platforms. 

Interestingly, investors are either holding on to their ETH or looking for opportunities to increase their holdings in the cryptocurrency as analysts have predicted that the price will soar tremendously in the near future. 

Last month, Cathie Wood’s Ark Invest predicted that the price of a unit of ETH will hit $160,000 by 2030. 

Such predictions are among the reasons the number of investors holding at least one unit of ETH has been steadily increasing.

ETH 2.0 Beacon Chain Deposit Hits $30 Billion

Despite the massive interest in Ethereum, developers are still seeking ways to make the network more efficient in order to onboard more users in the coming years. 

One of the ways developers are planning to achieve this feat is to fully launch Ethereum 2.0, an initiative that will scale the network’s performance by adopting a proof-of-stake (PoS) algorithm. 

In order to achieve this feat, validators are required to stake 32 ETH into a deposit contract for the Ethereum 2.0 Beacon Chain. 

Ether Scan data shows that the deposit contract now holds 9,371,474 ETH, worth nearly $30 billion, at the time of writing, 

Last year, we reported that a total of 7.7 million ETHs were deposited in the Ethereum 2.0 smart contract. 

Apple will add a new Tap to Pay feature on iPhone devices to make cryptocurrency payments.

Apple announced plans to launch Tap to Pay for its iPhone, a new feature that effectively turns the smartphone into a point-of-sale device for businesses and merchants. The announcement explains that with Tap to Pay, iPhone-owning merchants receive contactless payments by using their mobile devices as a point-of-sale machine thanks to the near-field communication technology, or NFC.

The new capability will empower millions of merchants across the US, from small businesses to large retailers, to use their iPhone to seamlessly and securely accept Apple Pay, contactless credit and debit cards, and other digital wallets through a simple tap to their iPhone — no additional hardware or payment terminal needed.

“As more and more consumers are tapping to pay with digital wallets and credit cards, Tap to Pay on iPhone will provide businesses with a secure, private, and easy way to accept contactless payments and unlock new checkout experiences using the power, security, and convenience of iPhone,”

Apple Pay is already accepted by more than 90 percent of US retailers, and with this new capability, virtually every business, big or small, will be able to allow their customers to Tap to Pay on iPhone at checkout. Tap to Pay on iPhone will also roll out to Apple Store locations in the US later this year.

With Tap to Pay on iPhone, customers’ payment data is protected by the same technology that makes Apple Pay private and secure. All transactions made using Tap to Pay on iPhone are encrypted and processed using the Secure Element, and as with Apple Pay, Apple doesn’t know what is being purchased or who is buying it.

Tap to Pay on iPhone will be available to participating payment platforms and their app developer partners to leverage in their software developer kits (SDKs) in an upcoming iOS software beta.

While Apple Pay will most likely not allow direct purchase of goods and services via Bitcoin, it will convert the user’s crypto holdings to match the dollar amount requested by the merchant’s point-of-sale machine to make the purchase.

With the death of John McAfee, founder of the McAfee antivirus, many believed the saga surrounding his 75 years of existence on earth would finally be over.

However, in contrast to their opinion, the McAfee story and saga have continued to linger even after his death. 

Market Watch noted that the body of McAfee, who died in a Spanish prison in June 2021 is still in a Spanish-based morgue freezer more than seven months after he was confirmed dead. 

Reason for the Delay

Part of the delay in extraditing the antivirus proponent’s remains was due to the legal battle between his daughter Jen and ex-wife Janice McAfee, over who will get custody of the body. 

While Jen wants her late father’s body to be cremated and sent back to the United States, it is unclear at the time of writing what McAfee’s ex-wife wanted for the antivirus software developer. Two family factions had separately petitioned a Spanish court for possession of the body.

Despite Jen recently giving up legal claims over the remains of her late father’s body to stop any additional delay of McAfee’s burial, the body is yet to be released.

Other sources say the reason for the delay of McAfee’s burial is because Spanish authorities are yet to issue a report stating the cause of his death.

In Spain, death reports are issued by a court system led by a judge, which is in contrast to what is being practiced in the United States where coroners are assigned to issue such reports in months. 

According to Jen’s lawyer, Joy Athanasiou investigations into the cause of McAfee’s death are being stalled as a result of the increased number of coronavirus-related deaths in Spain. 

“To my knowledge, they have done nothing to the body. It has been sitting there [in a freezer] all these months,” Athanasiou said. 

Recall that the cybersecurity expert was charged for promoting an Initial Coin Offering (ICO) in exchange for $23.1 million. 

The development led to his arrest in Spain and he subsequently committed suicide in prison despite pleading not guilty. 

Moments after McAfee committed suicide in a Spanish prison, there have been numerous twists surrounding his death from his ex-wife and daughter. 

Despite sources stating that McAfee committed suicide in a Spanish prison, Janice said she blamed the United States government for his death. 

Janice further noted that she does not believe the suicide story, adding that the note found in the deceased’s pocket sounded like it was written by someone who wanted to imitate the deceased. 

Russia joining India in regulating crypto rather than banning them.

The Russian government supported the cryptocurrency industry regulation concept proposed by the Ministry of Finance.

“The implementation of the regulations will ensure the creation of the necessary regulatory framework for crypto, it will bring the digital currency industry out of the shadows, and create the possibility of legal business activities,” the Russian government said in a statement.

Less than a month after Russia’s President Vladimir Putin called for unity over the cryptocurrency regulation dispute between the Bank of Russia and its Finance Ministry; the country is ready to recognize the nascent asset class as an alternative currency. 

Local news outlet Kommersant reported today that both the Bank of Russia and the government had reached an agreement to see the country publish a draft bill on how cryptocurrencies will be regulated. 

Per the report, the draft regulation, expected to be presented to the National Assembly by February 18, will see cryptocurrencies, including bitcoin and Ethereum, classed as an “analogue of currencies” rather than digital financial assets. 

However, the report added that the distribution and circulation of cryptocurrencies would only occur through licensed intermediaries like banks. 

Further details of the report reveal that cryptocurrency transactions of 6,000 rubles (appr. $8,000) and above within the legal sector must be declared to relevant authorities. In contrast, related transactions outside the jurisdiction will constitute a criminal offense. 

Furthermore, fines will be introduced for the illegal acceptance of cryptocurrencies as a means of payment when the draft bill eventually becomes law. 

“The purpose of the regulation is to integrate the mechanism for the circulation of digital currencies into the financial system and ensure control over cash flows in the circuit of credit institutions,” the Russian government said in a statement. 

Previous Russian Crypto Regulation Efforts 

Since last year, cryptocurrency regulation has been a significant topic of discussion in Russia. 

The issue became more severe after the Bank of Russia called for a blanket ban on cryptocurrencies, stating that the asset class posed a major threat to its existing financial system. The Bank of Russia added that cryptos are primarily used to finance illicit activities, including money laundering and terrorist financing. 

In contrast to the country’s apex bank motion, Ivan Chebeskov, a representative of Russia’s Ministry of Finance, called for regulation instead of a ban. 

The argument prompted president Putin to weigh in on the matter, urging both parties to reach a consensus on crypto regulation for the country to benefit from the opportunities inherent in digital currencies, especially in mining.

Recently crypto became legal in India; India introduced a 30% tax on digital assets income and launched a digital Rupee.