Category: Analysis
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UNI, SNX, and DeFi tokens recover on Yearn.finance (YFI) lead: what’s next?
Decentralized finance (DeFi) tokens, including Uniswap (UNI) and Synthetix Network (SNX) are recovering with the lead of Yearn.finance (YFI). Following brutal 40% to 50% corrections across the market, the DeFi space is taking a breather. Since its peak on September 13 at $43,390, YFI dropped by more than 50% to as low as $21,640. Since…
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Ripple co-founder moves $115m worth of XRP – sparking fears of a selloff
The massive hype surrounding Ripple’s XRP token throughout 2017 created an enormous community that carried over into 2018 and 2019, but this community of investors appears to have been dissolving as of late. Interest in the token has fallen off a cliff, with the lack of significant banking partnerships and tempered utility slowing the cryptocurrency’s…
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Yearn.finance (YFI) plunges to “do or die” support despite positive developments
Yearn.finance’s governance token (YFI) has been hit hard by the recent downtrend seen across the aggregated cryptocurrency market, with the token now trading down nearly 50 percent from where it was at its peak. Despite this bearish price action, it is important to note that the Yearn.finance ecosystem is still thriving, and YFI holders may…
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Slump of Y tokens: why Yearn.finance (YFI)’s momentum is weakening—for now
Since September 12, the price of Yearn.finance (YFI) dropped from $43,937 to as low as $26,222. YFI’s 40% decline within eight days caused other Y tokens and decentralized finance (DeFi) tokens to plummet. DFI.Money (YFII), YFLink (YFL), YFValue (YFV), and other Y tokens dropped harder than YFI in the past two weeks. DeFi market is…
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Ethereum network congestion rockets as ETH supply moves into smart contracts
The Ethereum network has been placed under immense pressure to handle significant demand for its blockspace, with users interacting with smart contracts, DEXs, and AMMs directing massive transactional volume to the network. This has resulted in high fees – the likes of which have never been seen before. These high fees have driven investors’ capital…
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Uniswap locks up $1.79 billion two days after token launch, UNI surges to $7.50
Decentralized exchange Uniswap has locked up a staggering $1.79 billion in total assets just two days after the launch of UNI, its native governance token. Uniswap shows who is boss As per data on DeFi Pulse, Uniswap liquidity pools now lock up over 2.4 million ETH alone, with other assets combining to make a total…
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Here’s how Twitter and active wallets predicted insane DeFi gains
Predicting the crypto markets does not have to be a hard science necessarily. New research shows a simple strategy of tracking sentiment on social media, such as Twitter, about certain tokens and projects could have proven a profitable venture for traders. But as always: It works until it doesn’t. Predicting DeFi token movements According to…
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Bitcoin volume profile shows major demand for BTC is building
Bitcoin’s price action has done little to offer investors with insight into its mid-term trend, as the cryptocurrency has formed a massive trading range between $10,000 and $12,000 throughout the past few weeks. While zooming in and looking at BTC’s short-term trend, it does appear that the crypto is well-positioned to see some upside, as…