Bitcoin price searches for support near $35K, DeFi tokens move higher

Bitcoin price is finding soft support at $35,000 after dropping 7.4% in the later hours of Jan. 19. According to Cointelegraph contributor Joseph Young, the correction was primarily the result of an overheated derivatives market and uncertainty over whether BTC can recapture the $40,000 level. Data from Cointelegraph Markets and TradingView shows that the price of Bitcoin (BTC) fell as low as $33,400 before recovering to the $35,000 level.  Not all is lost for the top cryptocurrency though, as news BlackRock, a multi-trillion-dollar asset manager, had submitted filings to the…

December 16, Bitcoin Crypto & Gold Market Price Analysis

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‘Let’s Not Be Bitcoin’: Yearn Finance Considers Minting $200M in New YFI Tokens

Bitcoin may be the original cryptocurrency, but that doesn’t mean leading decentralized finance (DeFi) projects aren’t feeling self-confident enough to distinguish themselves from Satoshi’s vision. “Let’s not be Bitcoin. This idea of hard caps for start-ups is very romantic but not necessarily the best execution path for maximal value,” a participant in Yearn’s governance forums, yfi_lit, wrote on Jan. 13. Yfi_lit wrote this in defense of his now-modest proposal to mint a fresh new cache of 1,000 YFI tokens (currently priced at over $30,000), the same token that made the…

UK Investment Firm Aims to Block Ripple From Leveraging Liquid Assets, Jed McCaleb Dumps 28.6 Million XRP – Finance Bitcoin News

Court documents show that the company, Tetragon Financial Group, has filed a lawsuit against Ripple after the firm was charged by the U.S. Securities and Exchange Commission. The court filing indicates that Tetragon and Ripple allegedly made an agreement, and the SEC case deeming XRP as an unregistered security should allow them to get funds back. Moreover, weeks after the SEC charges, former Ripple executive Jed McCaleb sold 28.6 million XRP. Billion-Dollar Asset Manager Sues Ripple Labs A recent court filing submitted to Delaware’s Chancery Court shows that Tetragon Financial…

BITCOIN & ETHEREUM MASSIVE PUMP STARTING NOW!!! Cardano & Altcoins Bottomed!!!?

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Sweden is working with DLT for its CBDC proof-of-concept

Central Bank Digital Currencies, or CBDCs, were the talk of the town for many in crypto and banking in 2020, with Sweden’s prospective e-krona one of the frontrunners. Sweden’s central bank, Sveriges Riksbank, is investigating distributed ledger technology, or DLT, for its CBDC proof-of-concept, the bank’s deputy governor confirmed today.  “The technology we use is the DLT called Corda,” Cecilia Skingsley, the deputy governor of Sweden’s central bank, said on Wednesday during a CfC St. Moritz conference panel. She did, however, decline to turn the announcement into a full-bore advertisement…

Yearn.finance team proposes $225 million YFI token mint

After a week of at times rancorous debate, an 11-author team of Yearn.finance core contributors and community members have submitted today a proposal to increase the supply of YFI by 6666 tokens — a quantity worth roughly $225 million at today’s prices. The proposal is the culmination of a wider discussion about developer incentives for decentralized finance’s (DeFi) original yield vault project. While the Twitter discourse revolved around memes and namecalling, on Yearn’s governance forum debate of the pros and cons of a mint were far more sophisticated. Community members…

Market Wrap: Bitcoin Drops Briefly Below $33.5K While Ether Calls Dominate Options

Bitcoin is recovering from a steady price decline while ether options traders anticipate another high-water mark after it hit an all-time high of $1,439. Bitcoin (BTC) trading around $35,023 as of 21:00 UTC (4 p.m. ET). Slipping 4.1% over the previous 24 hours. Bitcoin’s 24-hour range: $33,430-$36,794 (CoinDesk 20) BTC above the 10-hour but way below the 50-hour moving averages on the hourly chart, a sideways signal for market technicians. Bitcoin trading on Bitstamp since Jan. 16.Source: TradingView Bitcoin’s price fell Wednesday, going as low as $33,430 around 15:00 UTC…

Origin Protocol begins accepting compensation claims following $7M exploit

Origin Protocol, a DeFi stablecoin project, will begin accepting claims from users who were affected by a $7 million exploit that occurred back in November 2020. According to a blog post from Origin on Jan. 20, the project announced it will be making good on a December promise to compensate more than 700 victims of a $7 million flash loan attack on the protocol’s Origin Dollar (OUSD). In addition, Origin users who lost more than 1,000 OUSD can make a second transaction “to claim and stake OGN,” the protocol’s governance…

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