Day: September 8, 2020

What Is Yearn Finance? The DeFi Gateway Everyone Is Talking About

The Takeaway: Yearn.Finance aspires to be the gateway to a bevy of yield-generating products in the Ethereum ecosystem. After a rapid ascent in August 2020, there is now $650 million worth of crypto assets staked in Yearn, seeking the best returns in the booming decentralized finance (DeFi) sector. The prospect of what one observer called an “intuitive interface to all of DeFi” is what makes Yearn and its YFI coin stand out from the recent crop of “Weird DeFi” projects. But given that Yearn has several different elements, the platform…

Derivative Volumes Hit Record High in August as Bitcoin Surged to $12,000

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Crypto derivatives volumes high record levels last month as Bitcoin rose to $12,000 and the broader crypto market saw massive gains, according to a report cited by Coindesk. Derivatives Hit Record Volume Data compiled by on-chain analytics firm CryptoCompare showed crypto derivative volumes rose 54% to more than $710 billion in August, the firm said in its monthly exchange review for August. The figure marks a new all-time high for the crypto derivatives market, with August figures significantly exceeding the last record high of over $602 billion monthly volumes reported…

Eerie Bitcoin Fractal Suggests Ethereum’s Price Is About To Explode Higher

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CryptoX – Cryptocurrency Analysis and News Portal Ethereum just collapsed a full 37% over the last week, following a new 2020 high and a record over 300% rally from Black Thursday lows. But despite how sharp and violent the selloff has been, its possible that the price action is a bullish retest that after confirmation leads to more new highs ahead. According to a fractal found in ETHUSD that closely mimics Bitcoin’s early bull market breakout could suggest that the number two ranked cryptocurrency is going to follow in its…

Creator leaves SushiSwap in hot water as multisig revival is on the menu

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The high-risk environment around the decentralized finance space and hype for one of its latest offerings, SushiSwap, raises an analogy with a Japanese delicacy called fugu, or pufferfish, which is said to be more deadly than cyanide. Highly trained chefs have been serving up fugu in Japan’s top restaurants for decades, balancing the lives of their customers on the edges of their Yanagiba knives. Any slight error could fatally poison the diner. As such, the cryptocurrency community now also has a proverbial fugu of the DeFi world. In a short…

Dow Plunges 450 Points As Trump Talks Full “Decoupling” With China

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The Dow Jones fell over 400 points on Tuesday. Investors continue to punish the Dow’s tech giants as Apple and Microsoft plunged. Donald Trump turned up the heat on China on Labor day, hinting at a total “decoupling.” The Dow Jones endured a rough open to the trading week on Tuesday, falling just over 1% as the tech sector took a beating. Donald Trump’s increasingly hawkish anti-China rhetoric is a growing concern for the Dow’s bevy of China-centric corporations like Apple. Dow Jones Drops As Crude Oil Plummets All three…

Consumer Reports Proves Tesla’s Full Self-Driving Capability Is Bloatware

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Consumer Reports doesn’t think Tesla’s Full Self-Driving Capability option is worth its asking price. The nonprofit reviewer noted several shortcomings during a test of the latest software and hardware. In 2019, Elon Musk promised to release one million robotaxis by the end of this year. When announcing first-quarter results this year, Tesla CEO Elon Musk promised that the carmaker’s advancing self-driving technology would allow drivers to enjoy autonomous rides “from your home to your office” by the end of 2020. A test conducted by nonprofit reviewer Consumer Reports rubbishes this,…

Why Bitcoin Investors Aren’t Worried About This Price Pullback

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Critiques of correlation between bitcoin and equities miss the fact that bitcoin adoption within traditional markets has been driven by a fiat collapse concern. Our main discussion: Investors and the BTC price dip. Over the last several weeks, bitcoin has pulled back from $12,400 to around $10,000. This dip has happened alongside a broader retracement in equities, led by falling tech stocks.  While some have levied correlation to equities as a failure of bitcoin, NLW argues this critique misunderstands the narrative that has driven accumulation from new holders over the last six…

Cyberpunk 2077 Has Solved the Single Player Microtransaction Problem

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Cyberpunk 2077 single-player won’t have microtransactions. Instead, CD Projekt Red will expand the universe with a fairly valued multiplayer mode. This is how single-player devs monetize their games. The Cyberpunk 2077 single-player game is to be pure, says developer CD Projekt Red. The solo adventure won’t have any microtransactions. One purchase and the experience is yours. Micropayments will come in a later multiplayer release. This is fantastic news for RPG fans. In an era where microtransactions have run rampant, studios are finally figuring out how to properly monetize single-player IP…

Is Prince Philip More Upset With Prince Harry Than His Disgraced Son?

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In a new book, it was revealed that Prince Philip thinks Prince Harry is in “dereliction of duty.” The Duke of Edinburgh believes his grandson is acting far beneath his station thanks to his move to the U.S. with Meghan Markle. Why does Prince Phillip feel his grandson is in “dereliction,” but his son Prince Andrew — still wanted by the FBI for questioning in the Jeffrey Epstein case — once again just skates on by? Prince Harry must be exhausted. After fully repaying the cost of Frogmore Cottage’s renovations and getting a…