Bad crypto news of the week
So Bitcoin appears to end this week within tickling distance of $11,000. Experts suggest that the next test of upper level support will be at $11,100 before a move to $12,100. Statistician Willy Woo is optimistic. He thinks there’s little chance of a “catastrophic” dump.
Some Bitcoin though, can’t be dumped. More than a billion dollars’ worth of Bitcoin has now been tokenized to access DeFi protocols on the Ethereum network. That’s almost 100,000 Bitcoins and more than 12 percent of DeFi’s combined capitalization.
Those tokens have been having a difficult time lately. Almost all DeFi assets posted a loss recently, with some dropping as much as 50 percent. The market has now rebounded, rising by 19 percent in a single day.
But if you want to know where the market’s going—at least the Ethereum market—you might want to check the Polkadot price movements. Analysts have noticed that DOT’s price movements anticipate Ether’s by between fifteen minutes and four hours.
Those movements can help speculators make a lot of money but a Universal Basic Income can ensure that everyone has enough money. That’s what eToro is trying to create with its GoodDollar. The coin lets anyone claim a digital currency that they can convert to fiat.
But of course, coins and tokens aren’t just for spending. Russian pop singer Oleg Kenzov has demonstrated another real-world use for a blockchain by using the technology to transfer the digital rights for one of his songs.
Not every musician has been using blockchain technology properly though. The SEC has charged Rapper T.I. with promoting a fraudulent cryptocurrency offering. Brock Pierce was served legal documents for securities fraud as part of an action against Block.one. Pierce was taking part in his presidential campaign rally at the time. But Chef Nomi has returned $14 million of ETH to SushiSwap’s development fund. He had taken the funds from a $27 million kitty after giving control of the project to FTX exchange CEO, Sam Bankman-Fried.
Gene Simmons, lead singer of Kiss, has indicated that he’s working to make cryptocurrency more accessible. The glam rocker was replying to a long tweet thread from Cameron Winklevoss arguing that it must be easier for people to get hold of Ethereum and Bitcoin. “I will. I am,” was Simmons’s response.
Apple, though, is doing its bit to make things harder. Brian Armstrong, CEO of Coinbase, says that the tech company is preventing blockchain firms from letting iOS apps earn money using cryptocurrency and gain access to DeFi apps.
But even if you can’t earn crypto on your iPhone, you can enjoy the rewards of crypto trading. Aviatrade, an aircraft seller, is offering a private jet. The Gulfstream G650ER, a model favored by Jeff Bezos and Elon Musk, is available for $40 million worth of Bitcoin.
We also chatted with Pascal Lauria, CEO of CoinAnalyst an AI-based Big Data information and analysis platform for all cryptocurrencies and STOs/ICOs worldwide that enables any trader in the crypto asset sector and other industries to access a dashboard which monitors and analyses sentiment, trends, patterns, weak signals in real-time from the crypto and STO/ICO market.
The sooner BTC bursts that $11,000 ceiling the better.
Check out the audio version here:
Joel Comm is an internet pioneer, New York Times best-selling author, futurist speaker and co-host of The Bad Crypto Podcast. That’s a fancy way of saying he writes words, says things and loves to play with cryptos.
The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
Author: by Total Exchange
Uniswap’s Token Captures 60% of the Market’s DEX Volumes in Just 7 Days – TCR
- UNI token has become only one of the most widely distributed tokens and has emerged as one of the most talked protocols in the DeFi sector.
- 400 UNI tokens were deposited to the accounts of the users who used the exchange before September 1st
- 400 UNI tokens that are distributed among the users have a value of approximately $1200
Uniswap’s decentralized governance token, UNI was just launched and it has set high standards for its own kind. In such a short span, UNI token has become only one of the most widely distributed tokens and has emerged as one of the most talked protocols in the DeFi sector.
The UniSwap exchange launched its very own decentralised token on 14th September. As a perk instantly 400 UNI tokens were deposited to the accounts of the users who used the exchange before September 1st. This has led to a rush among the users who are actively trying to claim free UNI tokens from the four new liquidity pools of the Uniswap protocol. Clearly, UNI token has stood out and its craze has resulted in the spike of the gas fees. Consequently, these liquidity pools have managed to generate a liquidity of over
The Gwei (gas) fees for transactions has exploded since the launch and now stands at a four figure price.
These tokens are not just used for network governance and voting purposes. They are also utilised for gaining interest through liquidity mining schemes more commonly known as Yield Farming. The 400 UNI tokens that are distributed among the users have a value of approximately $1200. According to Dune analytics within 24 hours of the launch, 66 million tokens that were set apart for distribution have been claimed by the users. This amounted to 10% of the total UNI token supply. And currently, 104 million tokens have been claimed by 170,000 users. UNI token has already become one of the most held digital assets in the DeFi sector.
Axie Infinity COO Aleksander Larsen tweeted that it must be a glorious morning for all the Uniswap protocol users as 400 UNI tokens were devoted to their accounts out of the blue. He specifically pointed out that this new initiative may mean a lot for users in the Philippines and Venezuela where the crypto trading activities have gained a lot of appreciation.
What a glorious morning for all @UniswapProtocol users.
Especially excited for the Filipino and Venezuelan @AxieInfinity players.
400 UNI ($1000 at the going rate) is a massive amount to receive out of the blue for trading $SLP!
Congrats to all.
ETH/DAI, ETH/USDC, and ETH/USDT the three liquidity pools have accrued a total of $170 million each. As per Uniswap, the value of a single UNI token stands at $6.36 and is up by +79.35% in the last 24 hours. The total volume stands at $251 million as of now. Uniswap’s token has already locked assets worth $10 billion in the market and have captured 60% of the entire DEX volumes.
Author: By Ritika Sharma
MCS, First Exchange to list TRON’s SUN and Klaytn’s KLAY Futures Contracts
Singapore, September 20, 2020 — For the first time in the industry, MCS (MyCoinStory), a global cryptocurrency derivatives exchange announced the listing of SUNUSDT futures contract on September 18, 2020. Just a day prior to this launch, KLAYUSDT futures contract was released on September 17, 2020, which also was the first futures contract listing in the industry.
The SUN token used in SUNUSDT futures is the most distinguished experimental DeFi (Decentralized Finance) project token by the TRON Foundation in these days. The data published by TRON Foundation claims that 6.7 billion TRON were staked during the SUN’s Genesis Mining period which is approximately $191 million. The KLAY token in KLAYUSDT futures is the native currency of the Klaytn blockchain developed by Ground X, a subsidiary of Kakao Corporation.
This series of futures contracts release is called the “Colorful Quanto”, a series of quanto products with ‘colorful’ characteristics and variations.
A quanto contract refers to a derivative instrument that is settled as another asset instead of either the base currency or the counter currency in a trading pair. MCS’s first quanto product, KLAYUSDT futures, and the recently released SUNUSDT are both settled in BTC with a BTC margin, not in the base currency USDT or the counter currencies KLAY and SUN, respectively. MCS is focusing on introducing more unique quanto futures products before other exchanges do.
The representative of MCS quoted that “there are many cryptocurrencies traders show great interests, and often these cryptos fluctuate a lot. By listing more quanto futures products on MCS, we can give a variety of trading options true traders can enjoy and benefit from.”
Meanwhile, a bounty program and a trading competition with a prize pool of 10,000 KLAY are currently undergoing, and more events for SUNUSDT futures are expected in the near future.
For more info, contact [email protected]
* MCS (MyCoinStory)
MCS (MyCoinStory.com) is the next-generation cryptocurrency perpetual contract trading platform created by experts from the financial and blockchain industries.
Together with a team of experts, MCS is walking side by side with traders’ to access financial freedom in the best way possible by creating a reliable trading environment for traders which includes enterprise-level IT systems, multilingual online customer support, and a partnership with the industry-leading digital asset custodial company, ‘BitGo’.
MCS is constantly improving its trading platform for traders so that traders can dream of a better future. As the slogan #Be_a_Trader shows, MCS is focused on giving every trader in the platform the authentic ‘trading’ experience through various features and training materials.
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.