Whales profit as high Ethereum gas fees sideline retail DeFi investors

Since early 2020 the decentralized finance sector has been recieved a lot of attention due to its cutting-edge innovation and the lucrative high yield opportunities offered to cryptocurrency holders.  Despite these features, this week’s record-high gas fees show that the sector is still having growing pains and the absence of a suitable layer 2 solution could be pushing smaller investors away from DeFi. Investors attempting to place a trade on Uniswap or simply approve a new token on their favorite DeFi platform will have noticed the dent these actions have…

Growing list of billion-dollar crypto ‘unicorns’ suggest the best is yet to come

In the traditional investing world ‘unicorn’ is a term used by venture capitalists to describe a privately held startup valued at more than $1 billion.  Typically these startups have strong fundamentals and oftentimes a first-mover advantage that helps them rapidly rise in value to become prized investment opportunities for yield-seeking funds. Some of the best-known unicorns include Elon Musk’s SpaceX, a private rocket and spacecraft manufacturer with a valuation of $46 billion, and Coinbase, the largest U.S.-based cryptocurrency exchange with a current valuation of $8 billion. While the world’s attention…

In the end, do NFTs even matter? Linkin Park rapper joins celebrity NFT mania

Mike Shinoda, the musician and co-founder of rap-rock band Linkin Park, launched an auction on Rarible last night for “Zora,” a nonfungible token (NFT) music clip from a forthcoming song. In doing so, Shinoda joins an ever-growing throng of celebrities and influencers who are dipping their toes into NFT tech — and bringing their considerable fanbases along for the ride.  Late last night Shinoda revealed the drop with a short Tweet: I made a thing: https://t.co/nxirMUsCvb #NFTs #Cryptoart @ourZORA — Mike Shinoda (@mikeshinoda) February 6, 2021 In a follow-up thread…

Bullish $10K Ethereum call options excite traders but there’s a catch

Ether’s (ETH) $10,000 Dec. 31 call options recently came under the spotlight after surpassing $15.2 million in open interest (8,400 contracts). These instruments give the buyer the right to acquire Ether at a future date for a fixed price and the seller is obliged to honor it. For this right, the buyer pays an upfront fee (premium) to the call option seller. For this reason, call options are deemed neutral-to-bullish as they give its buyer the possibility of high leverage with a little upfront investment. This ‘right’ is currently being…

Bitcoin breaks $40,000 and sets its sights on a new all-time high, ETH fees spike as a new price record is set, and Elon Musk really loves Dogecoin.

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week Bitcoin eyes $50K less than a month after BTC price broke its 2017 all-time high Bitcoin is showing signs of a newfound rally after breaking the $40,000 resistance area, fueling hope that we might be about to see a new all-time high. It’ll be critical…

PancakeSwap (CAKE) gains 444% as its daily DEX volume surpasses $90M

Launched in September 2020, PancakeSwap is a decentralized exchange (DEX) running on Binance Smart Chain. Instead of allowing its users to trade ERC-20 and ERC-721 tokens, the DEX focuses exclusively on Binance Chain BEP20. By using an automated market maker (AMM), the DEX allows tokens to be exchanged with no need for order books. This is quite similar to Uniswap’s liquidy pools which are automated by smart contracts. In addition to its traditional functions, PancakeSwap offers staking for its liquidity providers. There’s also a lottery for users holding 10 or…

Twitter, GameStop… enough! The world needs true decentralization

GameStop and Twitter are both a mirage and an iceberg — but don’t try tweeting that. Not because you won’t own the tweet (because you won’t), but because the only completely true expression that Twitter is capable of delivering as a platform is unlocking the ugly truth about the internet itself. Or as Elon Musk recently tweeted: In retrospect, it was inevitable — Elon Musk (@elonmusk) January 29, 2021 Let me explain. In the midst of Robinhood halting trading for its supposed users, Jack Dorsey has been talking about decentralizing…

Asset tokenization project DeFi Money Market shuts its doors

DeFi Money Market, one of the earliest projects aiming to bring real-world assets on-chain, abruptly announced last night that it has “ceased operations.”  “As a result of regulatory inquiries, DMM is shutting down,” a statement on the project’s website reads. “[…] DMM regrets the necessity of this action, and would like to thank the DMM community for its support and active participation in this project.” The website provided users instructions on how to redeem yield-bearing mTokens, and said that yields for the tokens would drop to 0% on February 10th.…

Ether is flying to the moon? Here’s what’s fueling the ETH rocket

Ether hit its all-time high again on Feb. 2, reaching the psychological mark of $1,500. Since then, its price has remained above this level and is currently sitting at around the $1,700 mark. Along with Bitcoin (BTC) and other cryptocurrencies, Ether (ETH) has seen outstanding price action since the start of 2021, having surged by 10.46% in a month.  While Bitcoin has also been seeing positive price action, it is shy of its previous all-time high of $41,941 reached on Jan. 8. Ether volumes have been on the rise. According…

Launching in 3, 2… Here’s why Bitcoin breaking $40,000 is different than last time

The price of Bitcoin (BTC) broke above $40,000 on Feb. 6 for the first time in 23 days. But this time, the market sentiment is a lot calmer with a less overheated derivatives market. The combination of a less crowded Bitcoin futures market, the selling pressure from whales peaking, and a fast recovery could help BTC stabilize above $40,000 this time. Bitcoin recovers quickly after whales finish selling On Jan. 29, a pseudonymous Bitcoin researcher and analyst known as “Material Scientist” said that “mega whale” order flow reached an all-time…