Day: October 6, 2020

Bitcoin Open Interest on BitMEX is Down 25% Since the CFTC News Broke

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Bitcoin’s market dynamic has been shifting over the past week. The CFTC’s pursuit of the BitMEX co-founders has sparked some fear regarding the safety of funds on margin trading platforms that could be vulnerable to regulatory crackdowns in the US. Although BitMEX – and virtually all other crypto derivatives platforms – are registered offshore and limit US-based IP addresses, the country’s control over the .com infrastructure and international legal reach makes it a force to be reckoned with. Because of lower than usual trading volumes on margin trading platforms like…

MetaMask hits 1M monthly users thanks to DeFi boom

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MetaMask, the Ethereum (ETH) browser wallet developed by ConsenSys, has surpassed one million monthly active users for the first time. The milestone comes roughly seven months after the wallet first surpassed one million users in total, suggesting the parabolic rise of decentralized finance (DeFi) in 2020 has driven the surge in MetaMask’s user base. In an announcement, MetaMask notes top DeFi protocols Uniswap, Yearn Finance, Curve, MakerDAO, and Aave among those favored by its users, highlighting its commitment to supporting the growth of DeFi moving forward: “Over the last twelve…

MakerDAO Fundamentals Could Boost Maker (MKR) After DeFi Correction

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It’s been a tough past few weeks for all leading decentralized finance coins. While Maker (MKR) — the native token of the MakerDAO protocol — has been an outperformer, the coin is down 35% from its recent highs, set just a few weeks ago. This means that the Ethereum-based coin is underperforming Ethereum, which has dropped around 28%, and Bitcoin, which is down only around 14%. There may be a reason why MKR is one of the best-performing altcoins of the past few weeks though, even though it’s down 35%…

Ethereum Leads DeFi Tokens On A 60% Average Fall From Summer Highs

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Ethereum is the top dog when it comes to DeFi. Other decentralized finance tokens are built on its blockchain and require ETH gas fees to transact. This also could be why the top-ranked altcoin is held up a lot better than the rest of the DeFi space, which has fallen on average 60% across the board, Ethereum included. Just how far have these assets fallen from recent Summer highs, and how much deeper could DeFi dive into the end of the year? DeFi Tokens Dive 60% Or More Across The…

Visual Interpretation of Bitcoin’s Supply Shows the Digital Asset’s Unique Scarcity

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The Bitcoin network has recently crossed over the 18.5 million mark, as far as the number of bitcoins currently minted into circulation. However, even though over 18 million coins have been minted to-date there’s a number of different elements that affect the distribution of all the coins in existence. Elements that affect bitcoin distribution include large holders, lost coins, so-called sleeping coins, and coins held in custody for various solutions. As of today, the outstanding circulating BTC supply is around 18,508,600 BTC, but during the last 12 months, many people…

Bill O’Brien Is Gone – Can Houston Salvage the Ruins?

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The Houston Texans have gotten off to a terrible 0-4 start. As a result, Bill O’Brien has been fired as the head coach/GM of the team. Does the franchise have any hope after O’Brien destroyed the roster? Bill O’Brien is gone. The city of Houston is rejoicing. That’s because O’Brien, as a key decision-maker, had become a destructive force within the Texans franchise. Forget the season, can Houston save their franchise after O’Brien’s reign? The Bill O’Brien Exit Bill O’Brien’s resume is not looking great. | Source: Twitter Earlier today,…