Category: Analysis

Why investors are optimistic after “painful” DeFi correction despite YFI plunge

The prices of decentralized finance (DeFi) darlings Yearn.finance (YFI) and Uniswap (UNI) plummeted in the past week. Despite the DeFi marketwide correction, investors are positive that the pullback occurred. In the past seven days, YFI and UNI declined by by 8.39% and 5.98% respectively. The stagnant short-term trend of the two assets come after a…

October 12, 2020
Trust no one: Founders of once-$50 million Ethereum coin “rug pull” users

While the Ethereum decentralized finance space has cooled down dramatically since the euphoria seen in August and September, the space is still rife with scammers. In fact, relative to the number of legitimate projects launching, it appears that there are a large number of scams. This much was made clear when a DeFi project that…

October 11, 2020
The backdrop for institutions to adopt Bitcoin has never been better

Bitcoin has long been a niche asset only adopted by those on the fringes of society. But this is rapidly changing as institutions have started to enter the cryptocurrency space as they see that there is value in owning BTC and other digital assets. Andrew Kang, the founder of DeFi-focused crypto fund Mechanism Capital, recently…

October 10, 2020
New Bitcoin addresses shoot “off the charts” despite price drop

Bitcoin’s price action has been tepid at best over the past few weeks due to a confluence of fundamental trends. These include but are not limited to, BitMEX getting charged by the U.S. CFTC, KuCoin getting hacked for over $200 million, a U.K. financial authority banning crypto derivatives, and President Trump urging Capitol Hill to…

October 7, 2020
Yearn.finance faces capitulatory decline as investors remove the “Cronje premium”

The price of Yearn.finance’s governance token – YFI – has been plummeting as of late, with the sell-side pressure overwhelming the cryptocurrency’s bulls as it shatters multiple key support levels that were previously boosting its outlook. This has struck a blow to the community sentiment that has been so pivotal for incubating its growth, which…

October 5, 2020
BitMEX Bitcoin futures have “completely unwound” as platform exodus continues

Recent news regarding the U.S. Commodities and Futures Trading Commission’s crusade against the three co-founders of BitMEX has had grave implications for Bitcoin and the crypto market. Many investors now fear that this marks the start of a fresh round of regulatory scrutiny on the crypto industry from U.S. regulators, which could have far-reaching implications…

October 4, 2020
Crypto infrastructure “far from” scale needed to support $1t Bitcoin or Ethereum

Bitcoin, Ethereum, and altcoins have seen rapid growth this year. BTC in and of itself was up nearly 100 percent just weeks ago while certain altcoins have surged literally thousands of percent. This trajectory has made many analysts and fund managers in the space confident that cryptocurrencies will start nearing $1 trillion market capitalizations. As…

October 4, 2020
An Ethereum scaling solution is near—a DeFi founder thinks it will “melt faces”

While Ethereum has become much less congested than it was just weeks ago, transaction fees are still far from cheap. It may cost $10-20 to complete interactions with decentralized finance protocols such as Compound, MakerDAO, or Synthetix. That’s not enough to break the bank, of course, but it restricts many users from accessing these protocols and…

October 3, 2020
This data metric suggests the crypto market could soon see another “altseason”

The crypto market has taken a beating throughout the past few days and weeks, with sellers taking full control over altcoins as Bitcoin oscillates within a relatively wide trading range between $10,200 and $11,200. This has created an air of uncertainty amongst investors, who are now fleeing what are referred to as “beta assets” in…

October 3, 2020
Lawyers, execs explain how BitMEX news could help Bitcoin ETF chances

On Thursday, the industry was shocked by the news that leading Bitcoin derivatives exchange BitMEX was formally charged by the U.S. Commodities and Futures Trading Commission (CFTC) over concerns around derivatives and anti-money laundering violations. Simultaneously, the co-founders of the exchange, including Arthur Hayes, were also criminally charged. Making up over a billion dollars of…

October 3, 2020