DeFi hitting milestones
Total Value Locked In Defi Hits New Milestone.
Decentralized finance (DeFi) hit another milestone as its locked in value reaches $9.02 billion as DeFi projects gained speed in the past few months. Aave continues to be the largest DeFi project, with $1.71 billion locked, followed by MakerDAO with $1.43 billion, Balancer at $1.36 billion, Curve Finance at $1.26 billion, yearn.finance at $953.6 million and Synthetix with $871 million. Yearn’s YFI token surged 75% in the past day, with its price hitting $38,883 on Binance. The price moved its market capitalization to $1 billion.
DeFi is going to set records.
Nigerians Moving To Bitcoin As Country's Foreign Currency Crisis Rising
Now the world will be facing the recession and it's just the start of the problems. Now is the time cryptocurrency will be seen as a boost to everyone and help out to make profits to standardized the living.
#BTC
Bitcoin Worth $165.8 million Was Moved For Just $1.62 In Fees
A huge Bitcoin holder just moved $165.8 million worth of BTC in a single transaction. Data from BitInfoCharts shows, the crypto wallet was created on July 29th and contained 13,792 BTC, making it the 52nd largest in existence. That all changed when the owner of the funds decided to drain the address of all BTC, paying just 0.00013720 BTC, or $1.62 for the transaction. Wallets in question are known to be connected to crypto exchanges or custody platforms. The move comes as BTC bulls once again attempt to push BTC above $12,000.
What are your thoughts about this? Is this possible? I doubt.
Crypto Businesses Can Operate In Hawaii Without Licenses
California’s Senate Banking and Financial Institutions committee has passed the "Assembly Bill 2150" bill seeking to define digital assets and measure its impact on the state and consumer protections. The bill, focuses on directing the Department of Business Oversight to conduct a study and see if California can enact policies to see how treating digital assets as securities for a limited amount of time can impact consumer protections, benefits to the state. The report should be presented to the California Legislature on or before January 1, 2022.
Dollar Falls to Lowest Level in Over 2 Years While Gold, Silver, Bitcoin Continue to Shine
The dollar on Thursday dropped to its lowest level since May 2018 as the Federal Reserve said it plans to keep interest rates close to zero, and inflation hedges continue to show strength. https://www.coindesk.com/federal-reserve-keeps-rates-close-to-zero-continues-buying-treasuries
The dollar’s trade-weighted index – a measure of its value relative to a basket of other dominant currencies – dropped to $93.04 Thursday afternoon.
The last time the index traded this low was on May 15, 2018, according to TradingView. http://tradingview.com
As the dollar weakens, gold continues to trade near its new all-time highs, reaching $1,980 on Tuesday.
The yellow metal has gained more than 10% in July.
Silver has rallied nearly 30% in July, trading at $23.26 at last check.
Bitcoin, previously stuck trading in a tight range between $9,000 and $10,000 for nearly two months, followed the rallies in precious metals when it broke above $11,400 on Tuesday. https://qa.coindesk.com/price/bitcoin https://www.coindesk.com/gold-reaches-all-time-high-as-bitcoin-breaks-above-11k
Bitcoin has soared 53% in 2020, according to Messari. http://messari.io
“In the coming weeks you’ll see the dollar weakening further,” Qi Gao, a currency strategist at Scotiabank, told the Financial Times. https://www.ft.com/content/9d9fa97c-154f-46fb-affd-51f45a0de08a
Ethereum Price Rally to $370 Depends on Bitcoin’s Upcoming Weekly Close
On Saturday Bitcoin (BTC) and Ether (ETH) price perked up as BTC briefly pushed above $9,700 and Ether set a 2020 high at $309. https://cointelegraph.com/bitcoin-price-index https://coinmarketcap.com/currencies/ethereum/
The weekend surge comes as a bit of a surprise as weekends are typically marked by low trading volume and some traders avoid the markets due to the volatility that sometimes accompanies the weekly close.
Hope to see Cryptocurrency breaking it's ATH......
Coinkit
Dear CoinKit-Users,
we listen closely to your feedback and one of the main points was the Bitcoin on-chain TX fee. Even tho we have one of the lowest TX fees for Bitcoin in the whole industry, we strive for perfection and user satisfication.
We decided to introduce a new withdraw function for Bitcoin, which allows the user to withdraw their BTC on-chain once a day without **ANY** fees. To make this possible, Blockcurators GmbH ( The company which created CoinKit ) will cover the transaction fees on those withdraws.
Our Team has added a new parameter to the BTC Withdraw function, which is called „free“. With this additional parameter, your transaction will be queued for the free transfer, which **occurs once a day**. So keep in mind that if you use the free transfer method, you wont receive your BTC instantly, as we do them only once a day.
**Minimum withdraw is the same as with fees, 50 000 Satoshi.**
Source: https://coinkit.de/free-bitcoin-withdraws/
Housing Slumps, Stock Market Dumps, and Crypto Pumps.
Since 2008 the global economy has been in a continuous recovery, endless bailouts and liquidations from some of the biggest companies worldwide.
**The Crunch**
It all started with the “Housing” market, prices had started to slump and move downwards a couple of years before the actual recession.
At the start, we all thought this was a great thing! We thought finally we would see house prices head towards a more realistic, affordable price for those looking to enter the market.
Unfortunately, this was not the case, what this really meant was disaster loomed and we were too caught up in our bubble to see it.
Banks had for too long lent out 100% of the mortgage value along with providing credit to those who were not exactly good for the money so combining these two things alone spells disaster.
Now, this was not the only thing adding to the global financial pressure, those same banks had been given free passes without oversight to manage and be trusted to be moral with their customer's finances.
**What A Mess**
Outside of being unregulated and having no government oversight, these banks were allowed to use customer funds to invest which as we lived through went horribly wrong.
Eventually, once the housing market had been shattered and the Stock market on its knees, governments like the USA, UK stepped in taking control and bailing out big banks along with some other big financial companies.
The interesting thing is that in the UK not all banks had a bailout from the taxpayer. Barclays actually borrowed **£7 billion** from the middle eastern elite so not all bailouts cost the taxpayer more than likely the customer though.
**2020 Game Over?**
Through 2018 and 2019, the stock market at certain times was dropping down to levels it had not seen since 2008, clearly showing that the world had not fully recovered.
From decade long wars with endless budgets, continuous QE, corporate bailouts, and then Covid19 began. Since the lockdown, the UK economy has shrunk by at least 20% with over 15M people either unemployed or currently being paid by the government to stay at home.
It has been reported that Covid19 could cost the world's economy around $8.8 trillion and we are far from out of this yet, potentially facing another lockdown with more economical downturn leading to more stimulus packages could seriously damage the world's economy to the point we may actually for the first time ever see a complete halt to our financial services.
VeChain (VET)
VeChain (VET) is another staking coin to consider. While the rewards aren’t high compared to other staking opportunities, the project, might make up for its low yield with its future potential.
VeChain focuses on using blockchain technology for the supply chain, or the process of moving products and services from suppliers to customers.
It's already announced a partnership with Penfolds, one of Australia’s oldest wineries, to track the authenticity of Penfolds wine and prevent counterfeiting. https://cointelegraph.com/news/vechain-releases-blockchain-encrypted-wine-bottles-for-australian-winemaker
Other notable accomplishments include VeChain’s work with BMW on VerifyCar, an application that deals with mileage fraud by recording car mileage on VeChain. Another is Deloitte, one of the Big Four accounting firms, announcing that it is using VeChain to develop blockchain solutions for its clients. https://youtu.be/sdeLteyL-lQ?t=697 https://youtu.be/Xd2Hhmh4atQ?t=2768
Luckily, if you want to take advantage of VeChain’s potential growth, VET staking is quite easy. Just hold VET in a wallet that supports VeChain and you will receive VTHO, which is used to pay for network transactions. https://www.exodus.io/vechain-wallet
Probit Listing! $ONEUP (1UP) 1.2 Million 1UP Event!
No doubt you all saw the news today, Uptrennds token "1UP" has been listed on Probit Exchange! Please take note that the ticker will not be "1UP" it will be $ONEUP! You can find the "BTC/ONEUP pair here - https://www.probit.com/app/exchange/ONEUP-BTC
22 Cryptocurrency Security Tips
Get a hardware wallet
Keep your private keys close.
Use two-factor authentication.
But don’t use SMS two-factor authentication.
Choose difficult passwords.
Use a password manager.
Audit your security from time to time.
Be on guard. All the time.
Maintain your privacy.
Purge old or unused exchange accounts.
Move any crypto you’re not trading out of hot wallets.
Use cold storage as a longterm solution.
Enable loved ones and family members to access your accounts in the event of an emergency.
Keep passwords and recovery sentences in a fire-proof safe.
Write down recovery sentences and verify them.
NEVER input a recovery sentence online.
Choose a unique PIN.
Use a fresh address for each cryptocurrency transaction.
Beware of potential phishing sites.
Keep your device safe.
Avoid public WiFi.
Educate your friends and family on cryptocurrency and cybersecurity.
#crypto #security
Synthetix
Synthetix is the updated version of the Havven project which offered a single stablecoin nUSD. The new SNX token will serve as a collateral token that will back a wide variety of synthetic assets, including dollars pegged to the price of fiat currencies, precious metals.
Finally found a place to get all the legit information at a single place.
@Zemira
