Bitcoin (BTC) whales appear to be selling to institutions as the supply squeeze heightens below $20,000. Data from various sources shows that while more BTC returned to exchanges this week, largescale buyers are still creating more demand than supply can meet. Exchange inflows and Grayscale buy-ins Statistics from on-chain analytics service Coin98 confirmed that investment
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For those still traumatized by March’s Black Thursday crash, Aave is about to make long collateral positions a lot less risky. The decentralized money market has rolled out its second version, with several features that should make it more flexible and more capital efficient. The most innovative feature, though, is its new collateral swap functionality,
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The biggest events in DeFi this week all involved Yearn.finance, the yield farming optimization protocol. I covered the first, Pickle Finance, in my last installment. Since then, we’ve seen integrations with Cream Finance, a lending protocol similar to Compound; Cover Protocol, an insurance provider that recently paid out users for the Pickle hack; Akropolis, another
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The demand for the Grayscale Bitcoin Trust (GBTC) continues to rise with its premium surpassing 30% on Dec. 3. This indicates that Bitcoin (BTC) is seeing increasing institutional demand as its price consolidates above $19,000. The Grayscale Bitcoin Trust is an institutional vehicle that is tradable in the United States through OTC markets. Accredited and
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Darknet markets are having a rough 2020. COVID-19 has wreaked havoc on all shipping-centric industries, drug sellers included. Criminologist Andréanne Bergeron estimates that only 21% of darknet market transactions resulted in on-time deliveries during the height of pandemic lockdowns in the spring. But the virus only accounts for part of their pain. According to crypto
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The Kraken cryptocurrency exchange announced that it would match $150,000 in donations to support open-source Ethereum (ETH) projects on Gitcoin. Gitcoin is a developer funding platform relying on a hybrid model of sponsored donations and direct community support. Through its quadratic funding model, community donations are used as guidance to identify the projects that should
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Another decentralized finance (DeFi) project was rug-pulled Tuesday, with some $10.8 million in investor funds stolen due to a hidden backdoor in the project’s smart contracts. Compounder Finance – a self-described clone of Harvest and Yearn Finance built by pseudonymous programmers – had its contracts drained of $750,000 worth of wrapped bitcoin (WBTC), $4.8 million
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