How To Profit From DeFi Blue Chips
Market Meditations | January 6, 2021
DeFi is currently the fastest growing sector in crypto. The potential upside of catching this industry early can be enormous. So let’s learn how to do exactly that.
For today’s article, we take a look at the so-called ‘DeFi blue chips’.
DeFi is currently the fastest growing sector in crypto.
The potential upside of catching this industry early can be enormous ?
So let’s learn how to do exactly that.
US Federal Regulator Says Banks Can Conduct Payments Using Stablecoins ?The federal banking regulator wrote a letter stating that national banks and federal savings associations could participate in ‘independent node verification networks (blockchains) and use stablecoins’. The OCC said that blockchains ‘may be more resilient than other payment networks’ as a large number of nodes is needed to verify the transactions. Jerremy Allaire, CEO of Circle celebrated the news on Twitter, calling it ‘a huge win for crypto and stablecoins’. Read more.
Price of Stellar (XLM) Doubles in Just 24 Hours ?
At the time of writing, Stellar is +64% on the day and +133% on the week. One of the main reasons for such a surge could actually be the legal problems that Ripple faces. Another positive development for XLM came on Monday when the Stellar Development Foundation (SDF) announced that it will help develop Ukraine’s central bank digital currency (CBDC). Read more.
Hong Kong-Listed BC Group Raises $90M as Crypto Demand Soars ?
BC Technology Group, the parent company of regulated crypto platform OSL has raised approximately $90 million in the form of a top-up share placement. Last year was a busy year for OSL, an institution-focused digital asset platform based in Hong Kong, providing brokerage and custody services. BC Group CEO Hugh Madden said the raised funds will help meet rocketing institutional trading demand and bolster its software-as-a-service business. Read more.
Over $2 Billion of ETH is now Staked in Ethereum 2.0 ?
Over $2 billion worth of ETH has been staked in Ethereum 2.0 just over a month since the Beacon Chain went live.The Ethereum blockchain is the middle of a gradual evolution from its current proof-of-work (PoW) consensus algorithm to proof-of-stake (PoS) – with the aim of making the blockchain more scalable, secure and sustainable. Read more.
JPMorgan Predicts Bitcoin Price Could Rise Over $146,000 in Long Term ?
According to Bloomberg, JPMorgan has said bitcoin could one day be trading over $146,000, based on the assumption that the cryptocurrency will grow in popularity as an alternative form of gold. Bitcoin’s market cap would rise another 4.6x for a theoretical price of $146k and match the total private sector investment in gold via exchange-traded funds (ETF’s) or bars and coins. However, the analysts argued that bitcoin’s price volatility needs to drop for institutions to make large allocations. Read more.
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How To Profit From DeFi Blue Chips
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