Top 25 Most Traded Stocks & ETFs by Investors at Firstrade in September
Here’s the full list of top favored stocks and ETFs among Firstrade investors in the last month:
ProShares UltraPro Short QQQ ETF (SQQQ)
ProShares UltraPro QQQ (TQQQ)
Tesla Inc. (TSLA)
Apple Inc. (AAPL)
NVIDIA Corporation (NVDA)
Direxion Daily Semiconductor Bull 3X Shares (SOXL)
Advanced Micro Devices, Inc. (AMD)
Invesco QQQ Trust Series 1 (QQQ)
Vanguard 500 Index Fund ETF (VOO)
Direxion Daily Semiconductor Bear 3X Shares (SOXS)
Taiwan Semiconductor Mfg. Co. Ltd. (TSM)
Vanguard Total Stock Market Index Fund ETF (VTI)
Amazon.com, Inc. (AMZN)
Microsoft Corporation (MSFT)
ProShares Ultra VIX Short Term Futures ETF (UVXY)
SPDR S&P 500 ETF Trust (SPY)
Alphabet Inc Class A (GOOGL)
Alphabet Inc Class C (GOOG)
Vanguard Total World Stock Index Fund ETF (VT)
Occidental Petroleum Corporation (OXY)
Direxion Daily S&P Biotech Bull 3X Shares ETF (LABU)
Meta Platforms Inc. (META)
ProShares UltraPro Short S&P500 (SPXU)
Bank of America Corp (BAC)
Carnival Corp (CCL)
The Ethereum Merge: What Is It?
The Ethereum Merge is touted as one of the most significant moments in blockchain history. What does it mean for Firstrade customers?
The Ethereum merge has been a major blockchain topic for several years now. At the launch of the Ethereum network in July 2015 the most visible and still actively involved co-founder, Vitalik Buterin, revealed that there was a chance the network would choose a different consensus mechanism, such as Proof-of-Stake (PoS), in the future.
“The Merge”, as it became known as, was technically a concept as far back as then, but the idea began to materialize in December 2020 when Ethereum released the Beacon Chain as the initial step towards making the merge live.
“We may choose later on to adopt alternative consensus strategies, such as hybrid proof of stake, so future patches may reduce the issuance rate lower." - Vitalik Buterin, Co-founder, Ethereum (published on Twitter on launch day, July 30, 2015)
What Exactly Is The Merge?
The Ethereum merge refers to the event which transitions the Ethereum blockchain from a Proof-of-Work (PoW) consensus algorithm to PoS. There are multiple reasons which seemed to have encouraged the Ethereum network’s decision to effectively merge to a PoS consensus mechanism. One of the main reasons is PoW has been shown for some time now, to drive a high energy demand and carbon footprint when compared to the PoS alternative, and also other alternative consensus mechanisms. Machines take part in the process of mining which necessitates a high degree of energy which is dedicated to working towards solving difficult mathematical problems in order to earn block rewards, for facilitating transactions on the blockchain. This is how the traditional PoW network operation is carried out, including with Bitcoin.
The PoW consensus mechanism varies considerably from PoS, which instead is proven to use substantially less energy than PoW in its network consensus implementation. PoS is facilitated by a set amount of tokens (32 ETH), being staked by nodes known as validators on the PoS-based blockchain. Once tokens are staked, nodes take part in the validation process by confirming to the chain when it witnesses transactions which occur. This agreement aids the network in reaching consensus, and nodes are rewarded with a portion of transaction fees and sometimes alternative or additional perks and crypto.
Ethereum merged on Thursday, September 15. The merge to PoS still has more stops ahead, but it would be helpful to see what can be expected to be altered or not after the occurrence of one of the most major cryptocurrency events for some time.
How Is Speed Affected By The Ethereum Merge?
The speed of the Ethereum network previously lied around 13 to 14 seconds to process a transaction. Now after the merge that was just conducted Ethereum is anticipating running at 12 seconds standard to process each block. The difference is only slight, so while there is an improvement to speed, the speed is expected to be boosted significantly once the network evolves into the live use of sub chains, more specifically shard chains which will assist in sharing network processing to make the platform more efficient.
There are 64 shard chains which have been mentioned for some time as the number of shard blockchains which will be developed and integrated into the Ethereum network. It is expected that the shard chains will be ready for live implementation at some time in 2023. At that point in time Ethereum is anticipated to make considerable positive changes to the rate of network transaction speed which equates to a more seamless and rapid process when an individual goes to send or buy Ethereum.
Is The Merge The Creation Of A New Blockchain?
The merge was not an event which saw Ethereum move to an entirely new blockchain. Instead, the Ethereum blockchain network was merged, or aligned together in order to complete the recent upgrade.
Specifically, the Ethereum Virtual Machine (EVM) which is the fundamental chain of the Ethereum network, will continue to process transactions and smart contracts for the stacked network. Consensus will be maintained in the new Beacon Chain which is what was launched in 2020 to open staking for the network and just recently fused together with the Ethereum main chain in the merge event.
How Will Network Fees Be Impacted By The Merge?
For now network transactions, also referred to as gas fees, on the Ethereum blockchain are not expected to change as a result of the merge. The underlying processes required to power the fundamental layer which is responsible for facilitating transactions and smart contract functions remains intact, so network fees are expected to be the same. The introduction of shard chains along with other technologies that it will bring together, is expected to decrease network fees not very far into the future.
What Does This Mean For Firstrade Users?
Firstrade users will not need to do anything regarding the merge.
As ETH is held in a secure omnibus wallet on customers behalf, the merge will seamlessly take place on the backend. The number of ETH you have traded in your account will stay the same. There may be price volatility connected to the Merge, as big events like these can cause price speculation to both up and down sides. Customers should monitor the price of ETH over this time.
Final Points Surrounding The Merge
To recap - the merge upgrade to the Ethereum mainnet was completed early in the US morning hours on September 15. The merge has been a long anticipated event which was foreshadowed at the Ethereum network launch by its co-founder Vitalik Buterin back in 2015, making it seven years plus in the making. Since that time talks of the merge have been a consistent element of Ethereum news, and the event has finally been completed.
Not everyone is a fan of PoS. There are some enthusiasts who desire to continue to operate the Ethereum PoW blockchain, and have vowed to maintain an aspect of Ethereum as it stood prior to the merge. It still remains to be seen what forks (different variations of ETH), may yet arise upon more time passage after the successfully completed network update.
The Ethereum network merge will see more phases on the road to multiple shard chains and what the network believes will be an even more greatly efficient blockchain network.
Cryptocurrency trading is provided by Apex Crypto LLC. Apex Crypto is not a registered broker-dealer or a member of SIPC or FINRA. Cryptocurrencies are not securities and are not FDIC or SIPC insured. Apex Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Cryptocurrency execution and custody services are provided by Apex Crypto LLC (NMLS ID 1828849) through a software licensing agreement between Apex Crypto LLC and Firstrade Crypto LLC. Please ensure that you fully understand the risks involved before trading: apexcrypto.com/legal
Top 25 Most Traded Stocks & ETFs by Investors at Firstrade in August
Get the full list of top favored stocks and ETFs among Firstrade investors in the last month.
Here’s the full list of top favored stocks and ETFs among Firstrade investors in the last month:
Tesla Inc. (TSLA)
ProShares UltraPro Short QQQ ETF (SQQQ)
ProShares UltraPro QQQ (TQQQ)
NVIDIA Corporation (NVDA)
Apple Inc. (AAPL)
Advanced Micro Devices, Inc. (AMD)
Direxion Daily Semiconductor Bull 3X Shares (SOXL)
Invesco QQQ Trust Series 1 (QQQ)
Taiwan Semiconductor Mfg. Co. Ltd. (TSM)
Direxion Daily Semiconductor Bear 3X Shares (SOXS)
Amazon.com, Inc. (AMZN)
Vanguard 500 Index Fund ETF (VOO)
ProShares Ultra VIX Short Term Futures ETF (UVXY)
Palantir Technologies Inc. (PLTR)
AMC Entertainment Holdings Inc. (AMC)
ProShares UltraShort Bloomberg Crude Oil (SCO)
Vanguard Total Stock Market Index Fund ETF (VTI)
Microsoft Corporation (MSFT)
Alphabet Inc Class C (GOOG)
Alphabet Inc Class A (GOOGL)
Bed Bath & Beyond Inc (BBBY)
Occidental Petroleum Corporation (OXY)
Meta Platforms Inc. (META)
Bank of America Corp (BAC)
Intel Corp (INTC)
What is Cardano?
What is Cardano?
Cardano (ADA) is an open-source Proof of Stake cryptocurrency designed to function as a platform for fast, efficient, and easy-to-deploy smart contracts. The Cardano ecosystem can be used to develop and deploy a broad spectrum of decentralized applications (dAps), blockchain tokens, blockchain-based games, and decentralized finance (DeFi) protocols.
As one of the largest and most popular cryptocurrencies by market cap, Cardano is a highly successful blockchain project that builds on the core principles of the Ethereum project. Unlike Ethereum, however, Cardano takes a significantly different approach to development.
The Cardano project follows the principles of peer-reviewed, evidence-based research in order to develop and integrate new solutions to the challenges faced by blockchain technology.
Cardano is a general-purpose blockchain that is currently under active development by a multidisciplinary team of scientists, cryptography experts, mathematicians, engineers, and business experts. The core principles of the Cardano project focus on interoperability, open-source design, scalability, and security.
A Brief History of Cardano
Cardano was founded in 2015 by Ethereum co-founder Charles Hoskinson, who launched the Cardano project during a hiatus from the Ethereum project due to friction with Ethereum co-founder Vitalik Buterin.
Hoskinson’s core vision for the Ethereum project included structural elements that would allow Ethereum to function as a for-profit enterprise and open the doors to venture capital investment, while Buterin preferred to keep the Ethereum project operating on a nonprofit basis.
Partnering with Jeremy Wood, another Ethereum developer, Hoskinson launched IOHK — the blockchain engineering organization behind the Cardano project. The Cardano project went live in 2017, and is named after Italian polymath Gerolamo Cardano. The ADA token is named after mathematician Ada Lovelace.
How Does Cardano Work & How is it Different From Ethereum?
Cardano smart contracts are now live, which means the Cardano network is able to offer many of the same functions and use cases as the Ethereum network. There are, however, a number of important differences between Ethereum and Cardano.
While Ethereum is currently in the process of shifting to a completely Proof of Stake consensus algorithm, Cardano already operates as a Proof of Stake blockchain. Cardano uses the Ouroboros consensus protocol, which integrates Proof of Stake elements that allow anybody to create a node and validate transactions.
In order to participate in node operation and transaction validation, Cardano network participants must stake, or pledge ADA tokens. The Ouroboros protocol selects a node pseudo-randomly every time a block must be committed to the Cardano chain, a process that is, in part, based on the amount of ADA the node has staked.
Nodes that solve blocks are rewarded with a block reward in the form of ADA. Cardano is split into three layers — the Cardano Settlement Layer (CSL), in which transactions are validated and committed to the Cardano blockchain, and the Cardano Computing Layer (CCL), in which smart contracts and other computations are calculated.
What is ADA Token Used For?
ADA is the native token of the Cardano blockchain. ADA is the fuel that drives the Cardano project, and is used to store and transfer value, stake tokens in order to participate in transaction validation, pay transaction fees, and as the Cardano network grows, participate in decentralized governance features.
Cardano as an Investment
Cardano has grown from a relatively straightforward application of Proof of Stake technology into a robust, multifaceted blockchain network. There are a number of features that make Cardano stand out when compared to other blockchain networks, such as the environmentally-friendly Proof of Stake algorithm it uses to gain consensus.
The relatively recent launch of the Cardano Computing Layer now makes it possible for developers to create decentralized applications on the Cardano blockchain, create Cardano native tokens, or use Cardano to launch entire decentralized finance ecosystems.
The development philosophy that drives Cardano focuses on a slow, methodological approach to integrating new features. As such, Cardano has displayed relatively consistent growth from launch and is therefore attractive to investors seeking a high market cap alternative to Ethereum backed by a large developer community.
What Does the Future of Cardano Look Like?
Following recent upgrades to the Cardano network that saw the launch of smart contract functionality, upcoming roadmap events such as the upcoming Cardano Basho update will see significant scalability and transaction processing upgrades integrated into the Cardano blockchain.
Other notable roadmap events for Cardano include the highly-anticipated Voltaire update, which will provide token holders with a far greater degree of input over the direction of Cardano development through decentralized governance.
Today, Cardano is a robust, widely used blockchain that provides developers with the ability to create decentralized applications and smart contracts, presenting use cases such as NFTs, DeFi, and dApps as an alternative to the relatively congested Ethereum network.
Cardano (ADA) is currently available to trade alongside over 40 digital assets via the Firstrade Crypto trading platform.
Cryptocurrency trading is provided by Apex Crypto LLC. Apex Crypto is not a registered broker-dealer or a member of SIPC or FINRA. Cryptocurrencies are not securities and are not FDIC or SIPC insured. Apex Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. Cryptocurrency execution and custody services are provided by Apex Crypto LLC (NMLS ID 1828849) through a software licensing agreement between Apex Crypto LLC and Firstrade Crypto LLC. Please ensure that you fully understand the risks involved before trading: apexcrypto.com/legal
What is Solana?
What is Solana and How Does it Work?
Solana is a rapidly-growing Proof of Stake cryptocurrency and blockchain network designed to facilitate extremely fast transaction speeds and scalability.
As a third-generation blockchain, Solana addresses many of the problems that prevent the widespread adoption of blockchain technology and has emerged as the most significant competitor to Ethereum (ETH).
Today, Solana is one of the most successful blockchain networks and is capable of executing transactions faster and at a larger scale than Ethereum and other cryptocurrencies. What is Solana, however, and how does it work?
A Brief History of Solana
Solana was designed by former Qualcomm Anatoly Yakovenko in 2017, who created the Solana network in order to solve a number of significant obstacles faced by the blockchain industry.
The Solana whitepaper outlines a new means of blockchain consensus called Proof of History that, unlike the Proof of Work consensus method used in many contemporary blockchain networks, doesn’t require the expenditure of significant energy resources and is capable of executing transactions at scale.
Solana Labs, the technology company responsible for the launch of the open-source Solana project, raised $20 million in private token sale funding rounds between 2018 and 2019, followed by a series A.
The Solana network first went live in February 2020 with the launch of the first Solana testnet. Today, Solana Labs operates as a major contributor to the Solana project, and is supported by team members that include professionals with industry experience ranges across Microsoft, Twitter, Apple, Google, and Intel.
How Does Solana Work & How is it Different From Ethereum?
Solana, like Ethereum, operates as a blockchain ecosystem through which smart contracts and decentralized applications, or dApps, can be deployed and interacted with.
Unlike Ethereum, however, Solana is able to execute transactions at a far greater scale. The Ethereum blockchain currently uses a Proof of Work consensus mechanism that limits the total amount of transactions that can be executed on it to roughly 15 transactions per second.
Solana, however, uses a unique hybrid consensus method that is able to execute a theoretical maximum of 65,000 transactions per second. To achieve this, Solana uses a combination of both Proof of Stake and “Proof of History” consensus methods.
Proof of Stake consensus, unlike Proof of Work, doesn’t involve the use of energy resources in order to disincentivize bad actors and reward contributors. Instead, a Proof of Stake model requires that participants lock up, or “stake” assets in order to contribute to the maintenance of the network.
Solana uses Proof of State to facilitate transaction processing and encourage the decentralization of the network — network participants are rewarded for their contribution and dedication to the blockchain.
The unique Proof of History element of Solana’s consensus mechanism is one of the most significant differences between Solana and Ethereum. Proof of History is a method of validating transactions and ensuring that they are executed in the correct order.
Solana uses a Proof of Stake model to identify the next network participant that will find the next block, while Proof of History assigns contributor roles to the next validating participant ahead of time, streamlining transaction processing.
Solana offers similar features to Ethereum, such as the ability to create and deploy complex smart contracts and decentralized applications or mint NFTs, but is able to do so at a far higher speed and lower cost when compared to the Ethereum network.
What Are Smart Contracts & Dapps?
Solana is designed to operate as a smart contract and dapp ecosystem. The smart contract and dapp functionality of Solana is highly similar to that of Ethereum, allowing anybody to create a smart contract or decentralized applications.
Smart contracts on Solana allow users to create agreements enforced by code — rather than rely on the authority of a third party arbitrator, smart contracts eliminate counterparty risk and enforce rules automatically.
Solana smart contracts can be used to create NFT minting and trading ecosystem, support the creation and development of blockchain-based games, or can be used to establish decentralized finance (DeFi) protocols. In short, Solana smart contracts offer the same use cases as Ethereum smart contracts, but are currently significantly more efficient with regard to on-chain operation.
Decentralized applications, or dapps, are blockchain-based apps that provide similar functionality to the apps and services that operate on smartphones or web browsers. Unlike traditional apps, however, dapps operate on the blockchain and are completely decentralized.
The decentralized app ecosystem active on the Solana blockchain is one of the most popular use cases of Solana. Solana is home to a massive network of decentralized applications that include blockchain-based play-to-earn games, decentralized finance platforms, NFT marketplaces, and more.
Solana as an Investment
Solana is widely considered a direct competitor to Ethereum, and is driven by the SOL token. SOL is used as the native token of the Solana platform and can be staked in order to participate in the maintenance of the Solana network.
While Solana is a next-generation blockchain that offers a number of significant advantages over contemporary blockchain networks, it’s still in the development stage — many of Solana’s most exciting features are yet to be implemented.
Blockchain maximalists that see smart contracts and decentralized applications as the future of blockchain technology typically support Solana as a strong example of the potential of smart contract technology.
Today, Solana represents an in-development network that allows Solana holders to participate and invest in the development of a potential competitor to the $217 billion Ethereum ecosystem.
What Does the Future of Solana Look Like?
Solana is rapidly emerging as one of the most popular platforms for NFTs, opening the doors to the multi-billion dollar NFT marketplace. While the Solana network is currently in development, significant partnerships with Tether (USDT), Chainlink (LINK), and integration with the Brave Browser make Solana a rapidly-growing high-potential blockchain network.
Solana (SOL) is currently available to trade alongside over 40 digital assets via the Firstrade Crypto trading platform.