With the top two cryptocurrencies setting new all-time highs and analysts grappling with what Tesla’s big buy really means, CoinDesk’s Market Daily is back with the latest news roundup. Add Markets Daily to your Alexa Flash Briefing here. This episode is sponsored by Nexo.io. Original
The price of Ether (ETH), the native cryptocurrency of Ethereum, achieved a new all-time high on Feb. 9, 2021. On Binance, ETH rallied to as high as $1,830 merely hours after it started to trade on CME. ETH/USDT 15-minute candle price chart (Binance). Source: TradingView.com Why is ETH rallying after the CME listing of any importance? The timing of the ETH rally to a new record-high is noteworthy because of the negative sentiment around it prior to the listing. In December 2017, CME listed the Bitcoin futures contract for the…
Major decentralized finance protocol Yearn.Finance (YFI) has restored its yDAI vault in the aftermath of a $11 million exploit by hackers. Yearn announced Tuesday that they opened a Maker vault with YFI tokens from the treasury and minted 9.7 million DAI tokens from the vault to keep the yDAI vault intact. Using borrowed money allows the project to reimburse users without taking a hit to the treasury, either due to possible YFI appreciation or by gradually repaying the debt with protocol revenue. The team said that this is a one-off…
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Free TON is a community driven blockchain network with a focus on decentralized governance based on the open-source TON project which was previously developed by Telegram. Dune Network is a platform for distributed applications over a blockchain, focused on safety and security. The two groups will now begin to merge following a successful vote for a decentralized M&A proposal. First Decentralized Merger and Acquisition More than 50% of participating community members have voted in favor of a merger proposal between Free TON and Dune Network. This is important for both…
Colony, an early Ethereum project aimed at building decentralized governance tooling, announced today that it is preparing for a relaunch that’s been five years, multiple missteps, and a few half-starts in the making. If successful, however, the new app could be a boon for the dozens of decentralized finance (DeFi) protocols currently struggling with the clumsy mechanics of DAO governance — a nearly universally-acknowledged problem in dire need of a solution. Almost a half-decade ago, the Colony blog first laid out the organization’s vision for “The Future of Work”: “By…
By staking LPT, a holder of the asset would be able to access an equal portion of whatever deal is on offer. One undeniable fact is that launching a project on blockchain can be very challenging for beginners and even experts in the field. To overcome this challenge, a project that is able to ameliorate the current situation by making every stakeholder involved in the system feel a sense of belonging and an equal footing in the dealings of the project. This is where a project like Launchpool that believes…
The Matic Network, a project developing an Ethereum-based layer-two solution and an independent proof-of-stake blockchain, announced Tuesday that it would rebrand to Polygon. While the existing products and the token would remain largely the same, the new branding signals a strategic change to become a layer-two aggregator. Polygon is set out to support other Ethereum scalability solutions, notably Optimistic Rollups, ZkRollups and StarkWare’s Validium, in addition to its in-house platforms. The strategy will be implemented through a new Polygon SDK, which will allow developers to build their DApps on a…
Price Point In a run reminiscent of its stunning ascent in early January, bitcoin’s price blew past $45,000, $46,000 and $47,000 in less than an hour late Monday, eventually topping $48,000. By early Tuesday, the largest cryptocurrency had settled down to about $45,200. The powerful rally came after Elon Musk’s electric-vehicle company, Tesla (TSLA), announced it had bought $1.5 billion of the cryptocurrency. Bitcoin (BTC) now has a market capitalization of nearly $890 billion, which would rank it ahead of all but six of the world’s largest publicly trading companies, including…
For someone who devotes so much of his life to Bitcoin and finance — and who has made and lost a small fortune twice now — podcaster Peter McCormack doesn’t actually seem to care that much for money. “I did have a lot of money in my life a couple of times,” says the 42 year old on a call from his home in Bedford. “But the wealthiest time of my life was the most miserable. I had a company in London that turned over three million a year. Big…