Category: Analysis

Once popular SAFE/COVER token on Ethereum plunges 62% after community outrage

The COVER token, originally called SAFE, relaunched after an initial dispute among within founding team. The relaunch of the token garnered attention after it announced Yearn.finance (YFI) creator Andre Cronje as an advisor. Yet, the Ethereum decentralized finance (DeFi) token has seen criticism from the community after it fell 62% due to controversies. In September,…

October 18, 2020
Prominent Silicon Valley investor Naval doesn’t think Bitcoin goes to $3k again

Legendary venture capitalist investor Naval Ravikant recently took to The Tim Ferris Show, an extremely popular podcast about business and self-betterment. The angel investor, who has funded companies such as Twitter and Uber, proceeded to spend lots of time to discuss Bitcoin and cryptocurrencies. “You have to be willing to start from scratch. You have…

October 16, 2020
1,000,000 Ethereum would have been burned in the past year if EIP-1559 was live

Ethereum users have faced extreme transaction fees over recent weeks and months. At one point, there were users paying $10-20 just to send ETH and ERC-20 tokens from address to address as the cost of gas spiked to 1,000 Gwei and beyond temporarily. Many have seen high Ethereum transaction fees as something decisively bad for the…

October 16, 2020
Here’s why Tether (USDT) could overtake Ethereum by 2021

Tether (USDT), the world’s largest stablecoin by market cap, could reach a valuation higher than Ethereum in 2021, the latest issue of Bloomberg’s Crypto Market Outlook suggested in a report earlier this month. The trend is buoyed by the institutional shift towards and the demand for stablecoins in the cryptocurrency sector. In addition, governments around…

October 16, 2020
Filecoin (FIL) price soars following mainnet launch; reaches $900m market cap

Filecoin’s mainnet launch has long been highly anticipated, with a plethora of retail and venture capital pouring into the cryptocurrency’s 2017 initial coin offering, which raised over $205 million. The mainnet launch of the decentralized data and information storage blockchain has been plagued by multiple delays, but finally started coming to fruition in late-September when…

October 15, 2020
IntoTheBlock launches DeFi Insights tool for crypto traders and investors

The rise of decentralized finance (DeFi) has been buoyed on trends like non-custodian lending, automated market making, and yield farming, which together, have opened newer possibilities for users to spend and use their cryptocurrency holdings, while even earning attractive interest rates. However, the market remains relatively opaque. The lack of order books, counterparty risk, smart…

October 15, 2020
These 3 long-term indicators show Ethereum has “never been healthier”

The Ethereum network has been placed under immense strain in recent months, with the ongoing DeFi trend driving massive demand to the network as traders begin utilizing decentralized exchanges and providing liquidity to various protocols. Although network demand has been sliding lower as the mania surrounding DeFi subsides, gas prices are still significantly higher than…

October 15, 2020
eToro: Crypto is still “retail dominated,” Zcash has the highest “sentiment” score, and how FTX gained from Blockfolio acquisition

A new report jointly-published by eToro and The TIE explored the cryptocurrency landscape for Q3 2020, finding out long-term sentiment metrics for popular cryptocurrencies and how mergers and acquisitions proved to be the best indicator for future price rises. The TIE, the report’s data source, is a provider of alternative data for digital assets such…

October 14, 2020
$2t asset manager Fidelity just released its latest Bitcoin report

Along with offering a branch providing Bitcoin custody and trade execution for its clients that own trillions of dollars, Fidelity Investments has involved itself in the crypto-asset space by providing the industry with regular reports and surveys. These reports and surveys cover what role Bitcoin has on Wall Street, which has historically shied away from…

October 14, 2020
Ethereum leads with 96% of all DeFi transactions as Tron, EOS, and NEO show promise

Data shows a staggering 96% of all transactions on decentralized finance (DeFi) applications take place on Ethereum, the world’s second-largest blockchain network by market cap. This is despite there being faster and low-fee networks available on the market today, suggesting both developers and participants have yet to fully trust and adopt newer blockchains. DeFi has…

October 13, 2020