Sunday , August 9 2020

Crypto

DeFi market cap explodes to $11 billion as Chainlink hits all-time high

With Chainlink taking the lead, the industry looks like it has no sign of stopping. With no apparent signs of stopping any time soon, the decentralized finance (DeFi) craze just keeps getting bigger. Today, the total market cap touched an eye-watering $11 billion.  Chainlink (LINK) is taking the lead in terms of market cap, surging in price over the last …

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Can China’s great DeFi fork YFII escape YFI’s shadow?

Despite support from China’s most influential DeFi entrepreneurs, the YFI fork needs to attract more liquidity. As the forking frenzy of countless YFI clones comes to an end, the crypto world seems to have gotten tired of the copycats (and scams), and has gracefully moved on to the next hot topic. After all, what is there to harvest if little …

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Bitcoin-hating fed president calls for strict economic lockdown

Neel Kashkari is seemingly at odds with his party over how to control COVID-19. The President of the Federal Reserve Bank of Minneapolis has called for another lockdown to save the US economy. In a Friday New York Times op-ed, Neel Kashkari wrote that in order to “save lives, and save the economy, we need another lockdown.”  Along with Michael …

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Bitcoin matches Netflix, AT&T in total market cap

Bitcoin’s market cap, the total market price of all coins added together, is worth as much as some massive companies with household names. Bitcoin is the largest cryptocurrency by market cap. But what does that really mean; it’s all magic money, after all. To put things into perspective, its market cap rivals some of the world’s most recognizable companies.  Bitcoin’s …

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US bans WeChat, Chinese turn to Signal—decentralization is the answer

Signal could help worried Chinese based in the US look for solutions to the ban. A decentralized platform could be the best option. President Donald Trump this week announced his intentions to ban US companies from transacting with Chinese payment and messenger app WeChat, leading to a spike in downloads for privacy-first messenger app Signal—and reigniting the debate on decentralized …

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Chainlink hits all-time high, spiking 26% within 24 hours

A $20 million LINK short was just liquidated on Aave. Was it Zeus Capital? Chainlink (LINK) is again on the move today, after gaining 25.5% in the last 24 hours to reach its current value of $13.49—its all-time high Chainlink, the token that powers the decentralized price oracle, now occupies the position of seventh-largest cryptocurrency by market capitalization after leapfrogging …

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FT: Crypto card provider Wirecard kept up fraud during investigations

Wirecard made more than $180 million in bogus loans even while under investigation by KPMG, alleged the FT. Even while under investigation, the abandoned payments company Wirecard—which serviced several crypto debit cards—continued cash handouts that would destroy the company. That’s according to new details released by the Financial Times, who found that approximately €155 million ($180 million) were paid out …

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Hong Kong’s rich relocating gold after China crackdown

Gold’s physical nature proves to be a hassle as owners seek alternative destinations for their holdings following new security law. Two prominent stores of value, Bitcoin and gold, have their respective benefits. And Bitcoin’s digital nature and ease of global transfer gives it one enormous benefit that gold can’t touch. According to the Financial Times, gold owners in Hong Kong …

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Meet Weeb McGee: DeFi’s mystery man and Yieldfarming.info founder

Yieldfarming.info was one of the first tools to calculate how lucrative yield farming could be. By day, John Lim is a rank-and-file New York City tech grunt, punching out code until he clocks out each day. By night, Lim turns into the DeFi superman Weeb McGee—his secret alter-ego who built one of the most popular tools in decentralized finance: yieldfarming.info.   …

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Bitcoin fees hit highest price in a month as price rallies

Bitcoin’s price is good news. But the cost of sending the coin isn’t. Bitcoin transaction fees have continued to soar as the price of the world’s biggest cryptocurrency rallies.  The average Bitcoin transaction fee was $6.5 on Thursday, latest figures from Bitinfocharts show. Fees have shot up nearly 7% in the past week—from $6.1 per transaction to the current figure, …

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