Binance Will Cover $10 Million of COVER Losses

Key Takeaways Cover Protocol was attacked on Dec. 28 for $4 million. Binance has decided to compensate its own users, who lost money on their investment as a result of the attack. This addresses losses from COVER’s price drop, not the attack itself. Share this article Binance has decided to compensate users who lost money on their investment during an attack on the DeFi project Cover Protocol. The Attack in Brief Cover Protocol, a DeFi project, was attacked on Dec. 28. The hacker managed to freely generate the project’s native…

4 reasons why the top 15 richest Bitcoin wallets still matter in 2021

Transparency is one of the most intriguing aspects of cryptocurrency and it was this openness that drew many early supporters to Bitcoin (BTC).  Blockchain technology makes all information associated with the network’s operation accessible for anyone interested in taking a look. Every known address, transaction, fee paid and other details relating to multisignature and SegWit usage is out in the open. The top 15 wealthiest Bitcoin addresses have always been the centerpiece of attention for several reasons. Some crypto researchers habitually sort through the top addresses searching for the footsteps…

Crypto Market Cap Hits New Highs Above $775 Billion

Key Takeaways The value of the entire cryptocurrency market has reached a new all-time high above $775 billion. Bitcoin dominates the market, with 71% of its value. Experts believe 2021 will be a good year for Bitcoin. Share this article The total value of the cryptocurrency market has surpassed its all-time high, largely driven by rising Bitcoin prices. Bitcoin Drives Bull Market On Dec. 31, 2020, the total value of all cryptocurrencies combined reached $775 billion. Total market capitalization of crypto markets. Source: Trading View Much of that value comes…

Data Shows New Investors Flooded into Chainlink in 2020; Upside Imminent?

Over the past few weeks, Chainlink’s price action has been nothing short of lackluster, with the cryptocurrency failing to gain any serious momentum as investors widely shift their focus away from altcoins and towards Bitcoin. This trend shows few signs of letting up anytime soon, as most major altcoins are all stagnating as BTC continues showing signs of strength. Until BTC enters a prolonged consolidation phase or slides lower, there’s a strong possibility that it will continue gaining dominance over the market. Despite this short-term trend being bearish for altcoins…

Faulty data? Grayscale didn’t liquidate massive amounts of XRP and XLM

Bybt data apparently showing a massive liquidation of XRP and Stellar Lumen (XLM) by Grayscale Investments earlier this week is inaccurate, according to the investment company. On Wednesday, a public Bybt data set suggested that Grayscale Investments reduced its exposure to XRP by roughly 9.19 million units and that the fund also cut its XLM holdings by over 9.74 million units. According to Bybt data, the net change in holdings occurred over 24 hours on Tuesday. Cointelegraph accessed the data before Grayscale released its daily assets under management report for Tuesday…

Bitcoin Closes 2020 As Best Performing Asset Of The Last Decade

Today is the last day of 2020 — a year so many are ready to say goodbye to and never look back at. But for Bitcoin, the cryptocurrency is about to close out its most important year yet.  At the same time, the asset also closes the last ten years as the best performing asset since 2011, underscoring a decade of growth that is only just beginning. Here’s how Bitcoin stacked up against the rest of the world of finance over the last decade.  From Early Bitcoin Beginnings To Now…

Yearn Finance Founder Andre Cronje Launches yCredit

Share this article Andre Cronje has been building more decentralized finance infrastructure. This time, he’s created a protocol called yCredit. It builds on the StableCredit protocol he announced in September and works by giving users credit in a token. Whenever a user makes a deposit, they’ll be paid 99.5% of its worth as a credit line.  Andre Cronje Launches Yield Credit  When a user deposits $100 worth of SNX, for example, they’ll receive 99.5 yCREDIT. They can later redeem their SNX by burning 100 yCREDIT.  A 0.5% fee will be charged…

Grayscale Reduces XRP, XLM Holdings Amid Ripple Lawsuit

Key Takeaways Grayscale has reduced its XRP holding by ~9.18 million and its XLM holding by ~9.74 million. They have reduced their XRP holding due to the ongoing SEC lawsuit against Ripple. XLM holdings appear to have been reduced as a precautionary measure. Share this article Grayscale, the New York-based investment company, has sold massive amounts of XRP and XLM tokens from their respective Trust products. Grayscale Deals XRP, XLM Blow According to data from Bybt, the investment firm has reduced its XRP holding by 9,189,031, worth ~$2.02 million at…

Did Bitcoin prove itself to be a reliable store of value in 2020? Experts answer

Without any doubt, the year 2020 was unlike any other year in the 21st century: The ongoing COVID-19 pandemic, global governments unstoppably printing money, “lockdowns” and “social distancing” becoming the new normal, protests against racial discrimination and police brutality, and so on and so forth. It even made some claim it to be “the worst year ever.” But as they say: In every storm, each cloud has a silver lining. The most important thing is to learn from what we’ve been through and to improve our world and our future,…

Relax, Tether won’t be targeted by SEC, says Bitfinex CTO

Paolo Ardoino, the outspoken chief technology officer of Bitfinex, took to Twitter this week to dispel concerns that Tether could be the next target of the United States Securities and Exchange Commission.  In response to a tweet from CryptoQuant CEO Ki Young Ju, Ardoino said Tether adheres to strict Know Yor Customer/Anti-Money Laundering regulations set forth by the Treasury Department’s Financial Crimes Enforcement Network, or FinCEN. In other words, people who say Tether is less regulated are just spreading “FUD”— or fear, uncertainty and doubt. Ki Young’s original tweet said:…