Bitcoin price is down $800 in just over 24 hours, and elsewhere in the finance space, there is pure carnage. Gold fell below $1900, and stocks are downward spiraling. And behind it all is the dollar. But why is the Dollar Currency Index (DXY) potentially responsible for the market-wide collapse and what exactly is driving…
Archives for September 2020
SEC, OCC Issue First Regulatory Clarifications for Stablecoins
Sep 21, 2020 at 20:02 UTCUpdated Sep 21, 2020 at 22:15 UTC(Mark Van Scyoc/Shutterstock)The U.S. Office of the Comptroller of the Currency (OCC) has published fresh guidance, officially clarifying national banks can provide services to stablecoin issuers in the U.S. The Office of the Comptroller of the Currency (OCC) and the Securities and Exchange Commission…
DeFi Yield Farming Aggregator APY.Finance Raises $3.6M in Seed Funding
Sep 21, 2020 at 13:00 UTC(Karl Egger/Pixabay) APY.Finance, a yet-to-launch decentralized finance (DeFi) yield farming aggregator, announced Monday that it has completed a $3.6M seed funding round joined by investors including Arrington XRP Capital, Alameda Research, Cluster Capital and CoinGecko. According to a press release emailed to CoinDesk, APY.Finance is building an automated investment service…
Crypto Roundup: September 21st, 2020
Bitcoin is back in the driving seat. The leading crypto has made 2.5% gains over the past week, pushing the crypto market upwards as sentiment shifts in favor of the bulls.The move comes on the back of macroeconomic news. Last Wednesday, the Federal Reserve pledged to keep interest rates close to zero until 2023. Traditional…
The Fast-Growing NFT Market Is Problematic Yet Promising
Sep 21, 2020 at 20:16 UTCUpdated Sep 21, 2020 at 20:25 UTCYield farming has supercharged the trading of crypto collectibles on at least one platform. (Daniel Hooper/Unsplash)In some circumstances, is yield farming with non-fungible tokens (NFTs) another term for wash trading? Yield farming is the process of getting tokens in return for providing crypto assets…
First Mover: Digital Gold Narrative Could Be Bitcoin’s Lone Ace as Ethereum Gains
Sep 21, 2020 at 13:36 UTCUpdated Sep 21, 2020 at 13:53 UTCBitcoin’s “digital gold” narrative might be its best card in an increasingly competitive game. (Unsplash, modified by CoinDesk) It’s pretty much guaranteed at this point that higher inflation is coming. The Federal Reserve, which has already printed about $3 trillion of new money this…
Uniswap’s UNI Token Shows Signs of Weakness as Analysts Target $4.80
Uniswap’s token (UNI) has seen immense volatility throughout the past few days and weeks, with aggressive buying pressure following its launch pushing it up towards $8.50 before witnessing a massive inflow of selling pressure.This selling pressure has caused its price to collapse below $5.00, although it is still trading up significantly from its recent lows…
OKEx Earn Now Supports Uniswap Liquidity Mining for Passive Income Generation
OKEx Earn, a collection of DeFi services offered by the global crypto spot and derivatives trading giant OKEx allows users to earn passive income from their crypto holdings. The Earn program offers a range of services with the potential to generate good returns over time while allowing users to hold on their crypto assets.According to…
Market Wrap: Bitcoin Dips to $10.1K, Ether Drops to $330 on Sell-Off Session
Sep 21, 2020 at 20:21 UTCCoinDesk 20 Bitcoin Price IndexBitcoin and ether both dropped Monday as global markets conducted a selling session. Bitcoin (BTC) trading around $10,492 as of 20:00 UTC (4 p.m. EDT). Slipping 3.6% over the previous 24 hours.Bitcoin’s 24-hour range: $10,179-$10,994.BTC below its 10-day and 50-day moving averages, a bearish signal for…
DAOs Will Never Govern the World (at This Pace)
Sep 21, 2020 at 14:38 UTCUpdated Sep 21, 2020 at 16:46 UTC(NESTA)The enthusiasm for decentralized autonomous organizations (DAOs) continues to gain momentum as the crypto industry recognizes that monetary systems need governance. Yet the gap between promise and implementation is demonstrated by the incidence of rage quitting, forking (where a blockchain splits in two because…