Sushiswap has successfully migrated its liquidity away from Uniswap and the current numbers are interesting. Data shows that there’s currently around $1.3 billion of liquidity locked in Sushiswap where Uniswap only has around $400 million. SushiSwap Completing Migration Sushiswap, the Uniswap fork that took the DeFi space by a storm, has successfully completed its liquidity...Read More
This year has certainly been a test of the Ethereum network, pushing it to its limits under unprecedented loads. Users have been disgruntled with sky-high gas fees, but other on-chain metrics have been good for the overall Ethereum ecosystem. Economic Activity Surges A recent report by analytics firm CoinMetrics has revealed that Ethereum has flipped...Read More
Bitcoin has followed Wednesday’s increases on Wall Street and has risen to about $10,400. Most altcoins are also in green, as the total market cap sees a $22 billion addition over the past day. Ethereum, Polkadot, and Chainlink surge by approximately 10%, while DeFi tokens lead the way with the most gains, as YFI touches...Read More
XRP saw a small 2.5% price increase today as the support at $0.236 continues to hold firm. The coin is trapped between $0.228 and $0.236 for the past 4-days of trading. Against Bitcoin, the 100-days EMA continues to show its strength as the bears fail to close beneath it. XRP/USD – Bulls Vehemently Defend $0.236...Read More
The Uniswap fork that got all the attention during the past week, Sushiswap, is moving forward with the migration of the liquidity locked in it. According to DeFi monitoring resource Zippo, there’s about $830 million locked in the protocol that will be migrated from Uniswap to Sushiswap. Spearheading the operation is the CEO of FTX....Read More
A report compiled by the blockchain forensics company Chainalysis indicated that cryptocurrency adoption is growing globally. By exploring four key metrics and separating the data country by country, the firm’s Global Crypto Adoption Index 2020 showed that Ukraine, Russia, and Venezuela lead the way. The metrics take into consideration the purchasing power parity (PPP) per...Read More
Macro-scale data reveals that the correlation between gold and Bitcoin has surged in 2020, registering a new all-time high. Although both assets are in the green year-to-date, Bitcoin is still outperforming the precious metal, despite the recent price drop. BTC-Gold Correlation At ATH According to data from the analytics company CoinMetrics, the 60-day correlation between...Read More
Bitcoin and cryptocurrency exchange Kraken says that the drop in BTC’s volatility is not the end of the story. Historical observations suggest that after losing gains and remaining lifeless on the trading front, Bitcoin will galvanize into action soon, to end the year on an explosive note. Despite September Crash, Kraken Bitcoin Volatility Report Has...Read More
Despite the short-term adverse price developments for Ethereum, ETH whales have continued to accumulate. Data from Santiment revealed that the top non-exchange whale addresses had increased their holdings by over 80% in August alone. ETH Whales Increased Their Holdings Similarly to the ICO boom in 2017, Ethereum’s popularity surged in 2020 as its blockchain serves...Read More
An Ethereum Improvement Proposal (EIP) which seeks to radically restructure the Ethereum fee pricing mechanism is gaining traction among developers. Known as EIP-1599, the proposal floats the idea of increasing Ethereum’s gas limit, while setting an elastic base transaction fee which is burned automatically. This is expected to return ETH transaction fees to usable levels,...Read More
Bitcoin has had a rough week of trading. Roughly about eight days ago, the cryptocurrency was hovering above $12,000, causing many to believe that the bull run will take it above the current yearly highs and push forward. The entire community was ecstatic, and there were little to no signs of bearish sentiment. As it’s...Read More
As cryptocurrency markets continue to pull back, the fastest climbers over the last month are becoming the hardest to fall. DeFi tokens have driven gains across digital asset markets during the rally, and they are now the ones leading the losses. Over the past seven days, total market capitalization for all cryptocurrencies has corrected 20%...Read More
Bitcoin slid once again beneath the $10,000 mark, but it stands above it now. Most of the altcoin market retrace today, especially DeFi representatives. BTC’s high correlation with the stock markets could suggest further declines, as Wall Street marked significant losses during yesterday’s trading session. Bitcoin Recovers From Another Sub-$10K Trip As reported yesterday, BTC...Read More
Yield farming is a popular topic in the DeFi space for some time now. We know you may have many questions regarding yield farming – What is it? Why is it generating so much buzz? Let’s start with a simple statistic. In 2020, the DeFi space is so far growing at a rate of 150%...Read More
The cryptocurrency-backed lending and borrowing platform, Cred, announced today that it had joined Visa’s Fast Track program. The company plans to leverage several Visa features to facilitate lending and borrowing of digital assets globally. Cred Joins Visa’s Fast Track Program The San Francisco-headquartered company announced its latest milestone in a press release shared with CryptoPotato....Read More
Tron saw a healthy 12% price hike today as it reached the $0.0326 level. While the entire top 20 sees negative figures over the past week, Tron managed to remain in the positive by a total of 5%. Against Bitcoin, TRX headed higher since the weekend after it rebounded from 288 SAT to reach 330...Read More
A popular cryptocurrency analyst pointed out that Bitcoin tested the 20-week moving average (MA) on its recent move down from $12,000 to $10,000. This could turn out to be a bullish sign for BTC, as identical price developments have pumped it higher during the last bull market in 2017. Bitcoin’s Recent Price Drops After dumping...Read More
According to a recent publication, Chinese investors are using a lot of the ETH they buy on centralized exchanges to pursue DeFi opportunities. This essentially reduces liquidity, and exchanges are forced to limit or even suspend withdrawals. DeFi Growth In China Causes Issues For Exchanges The DeFi craze exploded earlier this year. Projects began surfacing...Read More
Ethereum dropped by a very sharp 30% this week as it plummets into the $335 level. The bulls are currently attempting to defend the 100-day EMA, but it looks likely to break with the increased bearish pressure. Against Bitcoin, ETH remains supported at the 0.0329 BTC level provided by a .5 Fib Retracement. ETH/USD: Ethereum...Read More
The total USD value locked in DeFi may have taken a hit after topping at $9.5 billion. But that hasn’t stopped the proliferation of tokenized Bitcoin tokens on the Ethereum blockchain. Data shows that the ‘BTC on Ethereum’ number has now gone up to a little over 72,000. That implies that around $750 million worth...Read More
A few days after receiving control over the popular SushiSwap protocol, FTX CEO Sam Bankman-Fried revealed his personal ideas regarding its future. Those included gradually reducing the total supply after efficiently executing the multi-sig wallet transition. The Backstory: Transferring Control Over SushiSwap The drama started the past weekend when SushiSwap’s lead developer, going by the...Read More
Stablecoins, which make up a huge chunk of those steep fees, could all switch to Layer 2 for some relief, according to one industry expert. Yearn Finance founder, Andre Cronje, has suggested that USDC and USDT will soon be available on Layer 2 as stablecoins make the transition away from Ethereum. USDC and USDT will...Read More
Bitcoin dived once more under the $10,000 mark, but it rapidly bounced off and sits above it now. The rest of the market resembled BTC’s movements with initial dumps and quick recovery. Given the high correlation, all eyes are now on Wall Street as the market will open today for the first time since Friday...Read More
The whole fever of DeFi and high-risk investments may soon turn into Ethereum’s worst nightmare, and those responsible for this debacle may not be the yield farmers. Rather, it could be the participants of a giant investment plan cataloged as a Ponzi/MLM scheme by several experts and authorities around the world. For those unfamiliar with...Read More
The Australian Securities and Investment Commission (ASIC) has banned an Australian national from working in the financial sector. According to the watchdog, John Louis Anthony Bigatton operated as the Director of Australia Promotions for the notorious cryptocurrency scam – BitConnect. Aussie National Banned For BitConnect Participation As CryptoPotato reported last year, the Australian corporate regulator...Read More
So much for ‘this is the last time you’ll see Bitcoin under five figures”. Bitcoin price is now hovering along the top of the unfilled CME gap at $9,925, and looking very likely that it will break down to $9,665 soon to close it off. This anticipation of more downside in the short-term has been...Read More
After a freefall that led to an almost $2000 drop, Bitcoin’s price is showing signs of stability. From a March vs. September BTC price action comparison chart, however, it’s possible that the pain is just beginning. Why Did Bitcoin Price Crash Last Week? Several possible reasons can be attributed to Bitcoin’s near 20 percent crash....Read More
XRP fell by a steep 16.8% over the past week as the coin reached $0.234 today. XRP continued its decline as it broke beneath the strong support at $0.237. Against Bitcoin, XRP dropped below the 100-days EMA today. XRP/USD – Bears Push Toward .618 Fib Support Key Support Levels: $0.228, $0.22, $0.216.Key Resistance Levels: $0.24,...Read More
Centralized exchanges are facing the harsh reality of losing out to DeFi protocols that don’t have as many costs involved with transacting. The only way to get back in the game is to launch their own DeFi products to lure customers back, and liquidity farming is the most popular activity in the industry at the...Read More
The cross-chain data oracle platform Band Protocol has published a statement refuting the claims that its Co-Founder and CTO Sorawit Suriyakarn is the creator of the SushiSwap protocol, despite arguments broached by the community. The Community Claims Suriyakarn Is Chef Nomi In the past few days, the lead developer of the popular SushiSwap protocol, standing...Read More
