Monthly Archives: September 2020

Crypto Borrowing: Here Are Seven of the Best Interest Rates on the Market

Cryptocurrency is sizing up traditional finance on its legacy turf of lending and borrowing with competitive interest rates (currently as low as 0.44% for ethereum and 4.50% per year for bitcoin) as well as less cumbersome verification procedures. Crypto holders present their virtual assets as collateral to get loans paid out in fiat or stablecoin. The option allows one to keep an immediate financial need separate from long-term crypto investment as well as evade a taxable sale of their crypto funds. Investors are also able to lend […]

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Dave Portnoy shrugs off $700K stock loss, weeks after crying over $25k Bitcoin dump

Davey Day Trader is down almost $1 million in stocks today. Dave Portnoy, Barstool Sports’ founder, admitted he lost $700,000 trading stocks on Sept. 8, expressing the importance of “strong hands.” “To steal a line from my crypto friends — you can’t have weak hands,” Portnoy said in a Sept. 8 Twitter video. “If you have weak hands, this game is not for you.”  Weak hands refers to someone selling their trading or investing position out of fear after (or during) a price decline. Stocks have suffered […]

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‘Struggling’ Bitcoin sets a new all-time hashrate record, breaking the 150 TH/s plateau for the first time

“In Bitcoin we trust”, say miners unfazed by the market. Bitcoin’s price decreased by $2,000 in the past few days, yet the network’s hashrate has set a new all-time high, breaking the 150 TH/s plateau for the first time in its history.  Bitcoin hashrate. Source: Glassnode. Hashrate is a key indicator when determining the health of the Bitcoin (BTC) network. It represents the amount of global hashpower dedicated to mining the coin, and can also be interpreted as the amount of energy that protects the network from […]

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CEX.IO Cryptoexchange Makes CryptoCompare Top 10

The international cryptocurrency exchange CEX.IO made it into the CryptoCompare top 10 July 2020 report, with an overall A grade. The CryptoCompare Exchange Benchmark rating evaluates over 165 exchanges around the world on aspects like adherence to regulations, platform security, liquidity, asset diversity, senior management team, API connectivity stability and performance, and number of negative events, while ensuring the necessary transparency in crypto asset trading. CEX.IO, one of the world’s largest crypto exchanges, is based in London. It has been in operation since 2013 and has over […]

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LedgerX exchange launches physically settled Bitcoin mini futures

Regulated Bitcoin futures exchange LedgerX has launched physically-settled BTC futures contracts. LedgerX, a regulated futures exchange in the U.S., has introduced physically-settled Bitcoin (BTC) futures contracts. This allows investors to receive physical delivery of BTC and some analysts believe this will amplify the impact on the price of BTC. XBT/USD daily chart. Source: TradingView.com How physical delivery may impact Bitcoin price? When Bakkt first launched with the backing of its NYSE parent company ICE, it received significant hype. Most of the interest around the platform surrounded its […]

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Morgan Stanley exec says this demographic prefers Bitcoin over gold

“Millennials are buying more of the Bitcoins and the cryptocurrencies,” says Ruchir Sharma. According to a Morgan Stanley executive, the young and adventurous usually go for crypto, while older investors stick to more traditional assets. In a Sept. 8 interview with CNN anchor Julia Chatterley, Morgan Stanley’s head of emerging markets and chief global strategist Ruchir Sharma stated that the generational divide when it comes to investments has many millennials choosing Bitcoin (BTC) over gold. “I think some of the older [investors] are still buying gold, and […]

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Creator leaves SushiSwap in hot water as multisig revival is on the menu

SushiSwap’s community will take charge of the platform once it completes its migration to a multisignature contract from Uniswap. The high-risk environment around the decentralized finance space and hype for one of its latest offerings, SushiSwap, raises an analogy with a Japanese delicacy called fugu, or pufferfish, which is said to be more deadly than cyanide. Highly trained chefs have been serving up fugu in Japan’s top restaurants for decades, balancing the lives of their customers on the edges of their Yanagiba knives. Any slight error could […]

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Maker seemingly gives up on Dai peg as interest rates are raised above 0%

It seems zero interest rates were not enough to keep DAI stable. A MakerDAO (MKR) governance proposal enacted on Tuesday set interest rates on most assets, with the notable exclusion of Ether (ETH), back above 0%. According to Daistats, interest rates for the USDC-A, WBTC and other minor vaults are now back to being at 2%, meaning that the protocol is once again collecting revenue for those who borrow DAI against these assets. Lowering interest rates is generally seen as a way of stimulating DAI creation, which […]

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‘It’s about to get very interesting,’ says Bitcoin stock-to-flow model creator

As if 2020 didn’t already have folks on the edge of their seats. PlanB, the man behind the widely-referenced stock-to-flow Bitcoin (BTC) value charts, described exciting times ahead for the asset.   “We’re four months after the halving, and it’s about to get very interesting,” anonymous Twitter analyst PlanB said in a Sept. 4 podcast interview with Peter McCormack.  PlanB’s stock-to-flow, or S2F, model has tracked Bitcoin’s price activity in line with its halving events, finding rising prices following such events based on Bitcoin’s decreasing inflation rate via mining. The model […]

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Band Protocol denies any role in the mysterious origins of SushiSwap

Band Protocol may share hosting with SushiSwap, but so do hundreds of others. Following the sudden exit of SushiSwap’s anonymous founder, many users have begun to speculate on the identity of this controversial figure. While some focused on the current maintainer of the project Sam Bankman-Fried, the CEO of FTX, others saw Band Protocol’s chief technology officer, Sorawit Suriyakarn, as the person behind this project. The evidence cited primarily involved the Sushiswap.org domain, which is provably shown to be hosted on the same IP address as Band […]

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