BioNexus: A Big Step into Crypto World
BioNexus Gene Lab Corp. (BGLC) has made a huge change! It’s the first Nasdaq company to use Ethereum as its main way to manage money. This is a big deal because it shows how businesses are starting to use blockchain and crypto in new ways.
Why Ethereum and Not Bitcoin?
BioNexus chose Ethereum over Bitcoin because Ethereum can do more things. Ethereum can support smart contracts, decentralized finance (DeFi), and stablecoin transactions. This makes it a better choice for managing money. Plus, Ethereum lets you earn money by staking, which Bitcoin doesn’t offer[1][2].
What Made BioNexus Choose Ethereum?
Several things influenced BioNexus’s decision:
- More People Use It: Ethereum is becoming more popular among big financial companies and is used in exchange-traded funds (ETFs)[3].
- Earning Money While Staking: Ethereum’s Proof-of-Stake system lets companies earn around 3% to 5% a year by staking[1][3].
- It’s a Big Part of the Digital Economy: Ethereum handles trillions of dollars in stablecoin transactions each year[1][3].
- Friendly Laws: Wyoming’s laws about blockchain make it easier for companies to use Ethereum[2].
What It Means for BioNexus and Others
This change makes BioNexus a leader in using blockchain for business. They want to make their money safer and attract investors who see Ethereum’s potential. But they also face problems, like maybe being taken off the Nasdaq because they don’t meet the price requirement[2].
Looking Ahead
BioNexus wants to try more Ethereum-based money ideas and find new ways to manage their money. An upcoming Ethereum update called Pectra is expected to make Ethereum work better and make more people use it[2][3]. But BioNexus also has to deal with rules and keep its place on the Nasdaq.
What Does This Mean for the Future?
In short, BioNexus’s decision shows that blockchain and crypto are becoming a bigger part of how businesses manage money. Ethereum, with its smart contracts, staking, and popularity, is at the forefront of this change.
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Sources:
– Cryptoslate
– Investing.com
– Business Insider
– Nasdaq
– Altcoin Buzz
