Enormous Ethereum Investor Is Giving Away $450,000 in Crypto – Here’s Why

Enormous Ethereum Investor Is Giving Away $450,000 in Crypto – Here's Why

A high-rolling Ethereum trader who is known in the industry for his immense trove of ERC20 tokens is giving away hundreds of thousands of dollars worth of crypto assets.

In a new tweetstorm, the pseudonymous trader known as 0x_b1 reveals why he’s giving back to the decentralized finance (DeFi) community.

“Without the people, there is no DeFi.

We are champions of the people of DeFi, announce opening the 2021 year with a celebratory series of games commemorating the true year of DeFi, the year of the Ox, and the year of 0x_b1.

With gratitude,

Let the games begin!” 

0x_b1 is launching a commemorative non-fungible token competition (NFT) where participants are urged to create NFTs that celebrate the trader’s participation in various DeFi platforms including on-chain liquidity underwriter KeeperDAO (ROOK), DeFi-backed governance token for Chainlink (LINK) holders YF Link (YFL), yield aggregator yAxis (YAX), decentralized exchange Uniswap (UNI), Uniswap competitor 1inch, and Badger DAO’s DIGG.

0x_b1 is giving away $150,000 worth of tokens being commemorated.

In addition, the Ethereum whale is donating 500 YFL tokens worth $378,580 to extend the Linkswap YFL/ETH liquidity pool incentive for over one and a half months beyond its end date. 0x_b1 notes that his donation covers nearly double the current YFL/ETH rewards.

The trader is also giving away 5,000 YAX tokens worth $58,400 to bump the prize pool of the project’s Metavault Strategies Hackathon.

0x_b1 is donating half of his Badger DAO DIGG airdrop to three developers as well.

In total, 0x_b1 is shelling out about $450,000 in DeFi assets excluding the DIGG airdrop donation as its exact value is currently unknown.

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Source: dailyhodl.com


BSC-based DEXs 49x Cheaper Than Ethereum’s in 2020

BSC-based DEXs 49x Cheaper Than Ethereum’s in 2020

IN BRIEF

  • Binance chairman CZ shared a tweet showing how the BSC platform compares to the competition.
  • The CZ universe is expanding into the crypto infrastructure.
  • Will Ethereum lose DEX market share in 2021?

According to data by blockchain analysts Bitquery, fees on decentralized exchanges (DEXs) using Binance Smart Chain (BSC) were 49 times cheaper than DEXs running on Ethereum.

Binance Chairman CZ posted on Twitter data showing how his company’s exchange platform fares against the competition.

Binance’s recently launched Binance DEX (which runs on BSC) saw over 121,000 users execute approximately 5 million trades in the past 5 months alone. The total amount of fees paid for these transactions was $456,000 (or ~$0.09 per transaction).

While Ethereum-based decentralized exchanges (DEXs) saw a significantly larger number of transactions (46 million), the network’s users also paid a significantly higher $207 million in fees (~$4.5 per transaction).

DEXs are types of exchanges that facilitate peer-to-peer cryptocurrency trading, without any third-party intervention. 

DEXs skyrocketed in popularity in 2020 with applications such as Uniswap. Those running on Ethereum posted over $56 billion in trade volume (cumulative), according to Bitquery.

Binance Smart Chain was launched in April 2019 by Binance, the largest cryptocurrency exchange in the world by volume. 

Binance says its primary focus is to facilitate fast, decentralized trading. The Binance DEX is the largest DEX on BSC and is bid as “one of the friendliest” of all DEX offerings. 

Binance CEO and founder Changpeng Zhao is on a product development spree. In April last year, his exchange launched Binance Card, which aims to allow Binance users to “shop and pay with crypto anywhere in the world”. 

Moreover, the leading cryptocurrency exchange firmly planted its flag in the decentralized finance (DeFi) space late last year, with the launch of Binance Launchpool. 

The Launchpool allows Binance users to stake BNB, BUSD as well as other tokens to earn rewards.

The BSC figures are just the latest accomplishment in the exchange’s ambition to “exchange the world”. This ambition could see BSC challenging Ethereum’s dominance in 2021 as the preferred platform for DeFi. 

Some in the cryptocurrency community see this as a positive thing, and point to the infamous CryptoKitties saga. CryptoKitties is a decentralized application (dApp) that took off towards the end of 2017. 

The dApp allowed users to buy, sell, and collect ‘CryptoKitties’, some of which were valued at over $400,000 at the time. The surge in interest the dApp brought to Ethereum’s network briefly caused the entire network to crash. 

It’s this, critics say, that could prevent Ethereum’s network from having mainstream use. 

However, despite the hurdles, Ethereum is still the industry’s number two cryptocurrency. Since 2017, its network has upgraded several times and recently launched a new proof-of-stake consensus mechanism. 

Though BSC is making waves, Ethereum still controls the ocean.

Source: https://beincrypto.com

Source: greatcoinnews.com

Author: Jeremiah Lee


Ethereum, Litecoin, and Ripple’s XRP – Day by day Tech Evaluation – January sixteenth, 2021

Ethereum, Litecoin, and Ripple’s XRP – Day by day Tech Evaluation – January sixteenth, 2021

Ethereum slid by 5.16% on Friday. Partially reversing an 8.89% rally from Thursday, Ethereum ended the day at $1,168.1.

A bullish begin to the day noticed Ethereum rise to an early morning intraday excessive $1,255.59 earlier than hitting reverse.

Falling wanting the primary main resistance degree at $1,290, Ethereum slid to a late afternoon intraday low $1,065.0.

The reversal noticed Ethereum fall by means of the primary main assist degree at $1,130, briefly revisiting $1,175 ranges.

On the time of writing, Ethereum was up by 2.01% to $1,191.62. A combined begin to the day noticed Ethereum fall to an early morning low $1,168.29 earlier than rising to a excessive $1,195.51.

Ethereum left the key assist and resistance ranges untested early on.

Ethereum would wish to keep away from a fall by means of the pivot degree at $1,163 to assist a run on the first main resistance degree at $1,261.

Help from the broader market can be wanted, nonetheless, for Ethereum to interrupt out from Friday’s excessive $1,255.59.

What future awaits cryptocurrencies?
GOODBAD

Barring an prolonged crypto rally, the primary main resistance degree and resistance $1,300 would seemingly cap any upside.

Within the occasion of an prolonged crypto rally, Ethereum might take a look at resistance at $1,400 earlier than any pullback. The second main resistance degree sits at $1,354.

Failure to keep away from a fall by means of the $1,163 pivot would carry the primary main assist degree at $1,070 into play.

Barring one other prolonged sell-off, nonetheless, Ethereum ought to keep away from the second main assist degree at $972.31. The 23.6% FIB of $1,051 ought to restrict the draw back.

First Main Help Stage: $1,070

Pivot Stage: $1,163

First Main Resistance Stage: $1,261

23.6% FIB Retracement Stage: $1,051

38.2% FIB Retracement Stage: $866

62% FIB Retracement Stage: $566

Litecoin slid by 5.74% on Friday. Reversing a 3.27% achieve from Thursday, Litecoin ended the day at $143.63.

A combined begin to the day noticed Litecoin rise to an early morning intraday excessive $155.30 earlier than hitting reverse.

Falling wanting the primary main resistance degree at $158.4, Litecoin slid to a late afternoon intraday low $130.29.

Litecoin fell by means of the primary main assist degree at $144.9 and the second main assist degree at $137.4.

Steering away from the 38.2% FIB of $125, Litecoin broke again by means of the second main assist degree to finish the day at $143 ranges.

The primary main assist degree at $144.9 pinned Litecoin again late within the day.

On the time of writing, Litecoin was up by 1.23% to $145.39. A combined begin to the day noticed Litecoin fall to an early morning low $143.54 earlier than rising to a excessive $145.75.

Litecoin left the key assist and resistance ranges untested early on.

Litecoin would wish to keep away from a fall by means of the $143.1 pivot degree to assist a run on the 23.6% FIB of $148 and the primary main resistance degree at $155.9.

Help from the broader market can be wanted, nonetheless, for Litecoin to interrupt out from Friday’s excessive $155.30.

Barring an prolonged crypto rally, the primary main resistance degree and resistance at $160 would seemingly cap any upside.

Within the occasion of an prolonged breakout, Litecoin might take a look at resistance at $170. The second main resistance degree at $168.1.

Failure to keep away from a fall by means of the $143.1 pivot degree would carry the primary main assist degree at $138.9 into play.

Barring one other prolonged sell-off, Litecoin ought to keep away from the second main assist degree at $118.1. The 23.6% FIB of $125 ought to restrict any draw back.

First Main Help Stage: $130.9

Pivot Stage: $143.1

First Main Resistance Stage: $155.9

23.6% FIB Retracement Stage: $148

38.2% FIB Retracement Stage: $125

62% FIB Retracement Stage: $87

Ripple’s XRP slid by 5.30% on Friday. Following on from a 3.29% decline on Thursday, Ripple’s XRP ended the day at $0.28058.

Monitoring the broader market, Ripple’s XRP rose to an early morning intraday excessive $0.30323 earlier than hitting reverse.

Falling wanting the primary main resistance degree at $0.3088, Ripple’s XRP slid to a late afternoon intraday low $0.26186.

Ripple’s XRP fell by means of the primary main assist degree at $0.2830 and the second main assist degree at $0.2702.

Discovering late assist, Ripple’s XRP broke again by means of the second main assist degree to finish the day at $0.28 ranges.

On the time of writing, Ripple’s XRP was up by 0.23% to $0.28123. A combined begin to the day noticed Ripple’s XRP fall to an early morning low $0.27926 earlier than rising to a excessive $0.28188.

Ripple’s XRP left the key assist and resistance ranges untested early on.

Ripple’s XRP might want to transfer by means of the $0.2819 pivot degree to carry the primary main resistance degree at $0.3019 into play.

Help from the broader market can be wanted, nonetheless, for Ripple’s XRP to interrupt again by means of to $0.30 ranges.

Barring one other prolonged crypto rally, the primary main resistance and Friday’s excessive $0.30323 would seemingly cap any upside.

Within the occasion of one other prolonged rally, Ripple’s XRP might take a look at resistance on the 23.6% FIB of $0.3172 and resistance at $0.32 ranges. The second main resistance sits at $0.3233.

Failure to maneuver by means of the $0.2819 pivot would carry the primary main assist degree at $0.2606 into play.

Barring one other prolonged crypto sell-off, Ripple’s XRP ought to keep away from the second main assist degree at $0.2405.

First Main Help Stage: $0.2606

Pivot Stage: $0.2819

First Main Resistance Stage: $0.3019

23.6% FIB Retracement Stage: $0.6274

38.2% FIB Retracement Stage: $0.5285

62% FIB Retracement Stage: $0.3687

Please tell us what you assume within the feedback under.

Thanks, Bob

This article was initially posted on FX Empire

Source: spotdailynews.com


Enormous Ethereum Investor Is Giving Away $450,000 in Crypto – Here's Why

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