In the last two months, the decentralized finance industry has seen a dramatic surge of interest, as new platforms promising to disrupt the way people manage their money, transact, earn and entertain themselves have launched in rapid succession in recent months. Much of this growth has been catalyzed by the meteoric rise of DeFi lending platforms like MakerDAO and Aave, which together now compose more than 40% of the DeFi market. But a wave of new DeFi products that are targeting practically every traditional and digital industry is now making…
Day: September 5, 2020
SushiSwap head chef dumps tokens; plans to focus on migration
On the heels of skepticism of the project, SushiSwap project head, Chef Nomi, dumped SUSHI tokens over the weekend. In a series of tweets, the anonymous personality Chef Nomi claimed converting SUSHI tokens is meant to move the project away from doubts on its migration from Uniswap to SushiSwap. “I did the recent move because I care about the community. I’m taking IL for you. But all I received was blaming and FUDing. Here’s what happened. The devshare part of me. I converted them to $ETH. I stop caring about…
Industry leaders say blockchain makes payment services more efficient
With online payments company Wirecard undergoing insolvency proceedings this month, mainstream financial services like VISA, PayPal, and Mastercard are rushing to fill the digital payments void, and be one of the first to offer crypto payment cards, stated experts in the crypto industry. During an interview with Cointelegraph, Jerry Chan, CEO of blockchain service provider TAAL, and Rod Hsu, President & Co-Founder of virtual currency platform Coincurve, both agreed that the competition could be just what the industry needs to shift the way that digital currencies are being used as…
Overview of the top 5 DEXs by total trade volume
One of the most groundbreaking advancements to come out from within the realm of blockchain technology is the concept of a decentralized exchange. In its most basic form, a DEX can be thought of as a cryptocurrency buy/sell platform that allows its users to facilitate monetary exchanges without the need of any assets having to make their way to the exchange itself, reducing the risk of thefts, hacks and other human-related errors. Furthermore, owing to their intrinsic design, DEXs are better equipped to prevent issues such as price manipulation, trade…
Bitcoin price risks losing $10,000 zone toward the CME futures gap
The past week has seen a significant sell-off across the markets with Bitcoin (BTC) losing more than 10% of its value. Other cryptocurrencies have been showing even more weakness as Ether (ETH) dropped by 30%. In addition, the commodity and equity markets have also slid as the Nasdaq had a significant red week as well. The next step for the markets right now would be finding a bottom structure. Let’s look at the charts. Crypto market daily performance snapshot. Source: Coin360 Bitcoin seeks CME gap while holding psychological support of…
Pioneer in Making Interchain Social-Integrated DeFi Products
Based on the designed model, Ocean DeFi comprises 3 marketplaces and a stablecoin which will serve as the governance token for the ecosystem. The crypto sphere has been replete with numerous blockchain-based projects and innovations in recent times. While many of such projects are positively stirring the desired change in the financial ecosystem, a handful of others have been unable to stand the test of time. The ability of a blockchain project to stay resilient and to transform in the face of challenges, competition, and regulations is a key determinant…
This Eerie Fractal Predicts Ethereum Will Soon Trade At $500
Ethereum could bounce towards $500 after dropping from its $480 highs. The leading cryptocurrency now trades for $380, having been pressured lower by Bitcoin dropping, which itself was catalyzed by weakness in legacy markets. Related Reading: These 3 Trends Suggest BTC Is Poised to Bounce After $1,000 Drop Ethereum Could Soon Jump to $500 One trader thinks that Ethereum is currently trading in a textbook broadening wedge, which are often bullish patterns when they are ascending. He shared the two charts below, which show that Ethereum is trading in a broadening…
Can a liquidity marketplace advance the crypto industry?
Two-sided marketplaces are more than a smart business model. These platforms can democratize access and promote widespread economic inclusion in previously inaccessible markets. They have worked wonders in myriad verticals already — e.g., stock exchanges — and the world of digital asset liquidity may now be fertile ground for this business model. Successful new platforms bring together buyers and sellers who would otherwise be unable to connect, creating entirely new value streams for sellers who capture more revenue. Meanwhile, buyers gain access to new capabilities, creating a win-win for everyone…
Buffett dumps Wells Fargo amplifying bull case for gold and Bitcoin
Warren Buffett and Berkshire Hathaway substantially cut their position on Wells Fargo, selling 100 million shares. The Oracle of Omaha is continuing to trim his position in bank stocks, buoying the bull case for gold and Bitcoin (BTC). Berkshire reportedly held $32 billion in equity in Wells Fargo at one point, Fox Business reported on Sep. 5. The investment conglomerate now owns 3.3% in equity of the lender, worth just $3.36 billion. Why did Buffett cut Wells Fargo and how could it benefit Bitcoin? Throughout his career, Buffett emphasized the…
Here’s Why Yearn.Finance (YFI) Remains Long-Term Bullish After 35% Drop
Yearn.finance (YFI) remains in an advantageous position despite its strong correction from local highs, analysts say. Like Bitcoin, Ethereum, and other top digital assets, YFI has faced a strong retracement over recent days as legacy markets have been crushed by a rising dollar. The decentralized finance coin has been hit especially hard, actually. Check out the chart below, which shows that the Ethereum-based coin has faced a steep correction over recent days after peaking just shy of $40,000. Chart of YFI’s price action over the past few weeks from TradingView.com…