Day: September 28, 2020

Uniswap Is First DeFi Protocol to Hit TVL of $2 Billion 

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DeFi project Uniswap has reached a milestone of $2 billion in total value locked (TVL). The news is encouraging, considering that earlier in the month it launched its token UNI. At the time of writing, data from DeFi Pulse showed Uniswap total value locked (TVL) stood at $2.03 billion. The trend shows how the decentralized finance (DeFi) market is continuously growing at a fast rate. Meanwhile, the TVL across all DeFi protocols is nearing to an all-time high, now at $11 billion. TVL is a term that represents the total…

First Mover: Bitcoin Low Exchange Balance Looks Bullish but Chart Looks Bearish as $11K Nears

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There’s a degree of transparency in cryptocurrencies that doesn’t exist in traditional markets like stocks and bonds: Thanks to data that’s easily extracted from blockchains, everyone can see everyone else moving their money around.  That means traders can keep an eye on exchange wallets to gauge whether investors and crypto miners are getting their bitcoin into position for a possible sale — or taking balances down from the exchanges in anticipation of holding for the longer term. The latter might be what’s happening now, CoinDesk’s Muyao Shen reported Monday. Total balances…

Bitfinex Launches Tether (USDT)-Settled Perpetual Contracts

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Bitfinex will provide perpetual contracts to traders 24 hours a day seven days a week, unlike equity exchanges that are open for business five days a week. Cryptocurrency exchange Bitfinex with stablecoin project Tether (USDT), will now enable its customers to track Europe 50 (EUROPE50IXF0: USTF0) and Germany 30 (GERMANY30IXF0: USTF0) through perpetual contracts. “This is the first time that an exchange from the digital asset space has launched a product that bridges the gap with traditional stock markets, representing a significant milestone in the evolution of crypto as an…

KuCoin hackers keep moving stolen tokens to the largest DeFi exchange

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After a major hack at KuCoin cryptocurrency exchange, cybercriminals continue to move stolen crypto to decentralized exchanges, or DEXes. According to data from crypto transaction tracking service Whale Alert, KuCoin hackers keep sending thousands of dollars worth of Synthetix Network Token (SNX) to Uniswap — the largest decentralized finance (DeFi) protocol by total value locked. On Sept. 28, the hacker completed another batch of transactions moving stolen funds from KuCoin and to major DEX Uniswap. According to data from Whale Alert, the hackers sent at least $1.2 million worth of…

Investment Potential of NFTs Continues to Divide Opinion

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Many are pushing non-fungible tokens (NFTs) as the next big thing in cryptocurrency. While market uncertainty continues to reigns, in particular DeFi markets, which have failed to recapture the levels seen before the recent slump, now is as good a time as any to make a mark. Certainly, Bitcoin bull Anthony Pompliano believes this to be the case. Recently, he announced his interest in NFTs in the form of digital art. He believes blockchain technology has the potential to disrupt the traditional art world. What’s more, with an estimated market…

DEX With Cross-Chain Swaps and Governance

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The first quarter of 2020 saw $5.1 billion added in volume to decentralized exchanges, 500% increase from the first 6 months in 2019. Data obtained from coindex  This is made possible due to the recent rave that DeFi projects have caught on, the DeFi spark ignited the increased use of DEX platforms and platforms such as Uniswap, Bounce came to life, raking in billions on daily volume. In August 2020 it was reported that the daily volume of trades on Uniswap surpassed that of Coinbase Pro for the first time…

A Meghan Markle & Prince Harry Reality TV Show Just Confirmed My Suspicions

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Despite a lot of nonsense about inspirational family programming that gives everyone hope, we are now seeing what Netflix really paid the big bucks for. A reality show. That’s right! Harry and Meghan are the next Osbournes! In all honesty, this is probably their actual level. It’s time to perform for your money! How many of us remember when Prince Harry and Meghan Markle first signed their Netflix deal? It was less than a month ago, so the momentous occasion should still be somewhat fresh in the memory. You know,…

Cardano’s ADA Rallies 30%—Technicals Show “Potential Buy” Signal: Analyst

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ADA was trading higher in the early trading session Monday as traders piled up behind the token over its optimistic fundamentals. The Cardano blockchain project’s native asset surged 3.3 percent to 970 sats as of 10:25 GMT. The gains followed a wild upside move the began on September 24, 2020. Since then, the ADA/BTC exchange rate had surged by up to 32 percent, hitting an intraday high at 982 sats. ADABTC is testing its 50-day moving average as resistance. Source: TradingView.com ADA’s gains closely followed a wider upside correction across…

A Big Tech Stock Supercycle Tempts Powerful S&P 500 Recovery

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Throughout September, profits from Big Tech cycled into the rest of the U.S. stock market, strategists say. Don Townswick, the director of equities strategy for Conning, says tech stocks could become favorable again in October, especially if earnings rebound. A potential Big Tech recovery brightens the outlook on the S&P 500 and the Nasdaq, coming off a month-long slump. Big Tech took a huge hit in September amid a prolonged S&P 500 sell-off. After the shakeout, strategists say tech stocks would likely become the market favorites once again. If tech…