DeFi’s downturn deepens, but protocols with revenue and fee sharing could thrive
It’s too early to know if DeFi is “dead,” but platforms that share revenue with liquidity providers and token holders could be the ones that survive the bear market.
It’s too early to know if DeFi is “dead,” but platforms that share revenue with liquidity providers and token holders could be the ones that survive the bear market.
Cardano has been lagging behind the current bullish momentum in the altcoin market. While Ethereum (ETH), Solana (SOL), and XRP trend to the upside in the last 24 hours, ADA’s price continues to move sideways. Related Reading | JP Morgan Claims Drop In Bitcoin Production Cost Is Negative For BTC Price At the time of writing, ADA’s price trades at $0.44 with barely 0.5% profit in the last day. According to a survey conducted by Finder with 53 industry specialists, Cardano is likely to move higher from its current levels. The participants claim ADA’s price is set to end 2022 at around $0.60 with bullish expectations for the long term. In 2025, ADA could value at around $3 and close to $7 by 2030. Although the experts are bullish on ADA, this price target represents a far slower increase than the one predicted by Finder’s January survey. At the time, participants expected the price of Cardano to close out at $2.79 and at $58 by 2030. The expert believes Cardano developers have failed to meet market expectations regarding this network’s ecosystem and development. Expert Iwa Salami, Co-Director of the Centre of FinTech at the University of East London, said the following on Cardano and its potential to trend to the upside based on real-world use cases: I think the relevance of the Cardano blockchain, particularly as it seeks to foster financial inclusion in developing economies, is very significant and is likely to expand its long-term use, and therefore have a positive impact on the price of ADA. Is Now The Right Time To Buy Cardano (ADA)? In the short term, 17% of the experts expect Cardano to see bullish momentum on the back of the upcoming Vasil Hard Fork Combinator (HFC) event. An extra 20% believe the positive impact on the price of this cryptocurrency will be palpable in the long term. While there is a relevant percentage of these experts that expert bearish price action, the majority claim to be unsure of the future price impact of this event. Designed to provide the network with better performance, and throughput, and to increase its decentralization, the Vasil update might fail to provide bulls with enough momentum to break above the current range, at least for the time being. Ben Ritchie, another one of Finder’s survey participants and managing director at Digital Capital Management, is unsure about the potential impact of the upcoming upgrade. Ritchie is more certain about the potential long terms benefit. He said: In our understanding, the hard fork will benefit developers who want to use the Cardano network and the communities who love low fees and high-speed networks. However, the upgrade may be good for the future of the network as more project developers can build on the Cardano network with ease. Related Reading | JP Morgan Claims Drop In Bitcoin Production Cost Is Negative For BTC Price An important majority of Finbder’s panel (51%) believe Vasil will make this network more useful and facilitate the expansion of its ecosystem. As seen below, only 14% of the experts believe the opposite.
I started heavily researching this subject and eventually decided to start investing three years ago basically just accumulating little whenever I could. Market sentiments not just for crypto but for other assets don't seem too optimistic with Crypto being the most volatile losing soo much of its value from it's previous high. With recession looming…
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Alex Tapscott’s new book breaks down key DeFi concepts for business leaders.
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Any way to reserve space on specific blocks into the future? On eth or any chain? Example I am an oracle and want to guarantee that I have space on every block ending in 000 or something like that. Impossible on eth, right? Also, if possible, implications for mev? submitted by /u/minimumopinium [link]…
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Bitcoin had lost its footing above $20,000 at the start of the week, sparking uncertainty among investors who had previously believed that the price of bitcoin was in a recovery trend. This decline saw more sell-offs in the space, albeit to a lesser extent than previously recorded. With the digital asset now starting on another recovery trend though, traders who had bet against its ability to move upward are finding themselves in very unpleasant situations. Bitcoin Short Traders Suffer Losses Bitcoin had begun to recover just after the CPI had shown that the United States inflation rate had hit a new 40-year high. At 9.1%, it was the highest number ever recorded since 1981 and this had prompted investors to look to other alternatives for protecting their wealth from being eaten into by inflation. The result had been an influx of new money into the bitcoin market. Related Reading | Bitcoin Price Spends Four Weeks At 2017 Peak Prices, What Comes Next? The recovery had seen a lot of traders who had bet against bitcoin suffering losses. Data from Coinglass shows that in the last 24 hours, almost $200 million in liquidations have been recorded and the majority of the liquidations had been from short traders. In total, there have been more than 57,800 traders liquidated and at a percentage of 83.91%, more than 48,000 traders who were betting against the crypto market’s recovery have suffered losses. BTC price recovers above $20,000 | Source: BTCUSD on TradingView.com Even as time has gone on, the liquidations have not subsided. In the last 12 hours alone, the liquidation numbers have come out to more than 54 million. At the time of writing this, the last four hours had seen liquidations of $21 million and this is expected to ramp up as the recovery continues. Ethereum Takes The Lead In most cases, when the market liquidations are calculated, bitcoin always takes the lead. However, that is not the case this time as another has taken the lead in liquidations. Ethereum’s recovery over the last day had been just as dramatic as that of bitcoin and short traders were caught in the wave. Related Reading | Mid Cap Crypto Coins Lead In July, Best Way To Weather The Winter? The second-largest cryptocurrency by market cap accounts for the majority of the liquidations recorded in the last day. It has seen more than 72.64K ETH liquidated, amounting to more than $90 million. Bitcoin which usually leads the pack has only seen half the value of liquidations in the same time period. ETH liquidations ramp up | Source: Coinglass The same is the case on a 12-hour basis, although bitcoin is catching up in this regard. Ethereum continues to lead but by a much smaller margin. Other cryptocurrencies that have recorded high liquidations in the last day include MATIC, SOL, and AAVE with $8.52 million, $5.93 million, and $2.81 million respectively. Featured image from Financial Times, chart from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…
PRESS RELEASE. The HUMAN Protocol Foundation is delighted to announce that HMT is now listed on Probit. Probit joins other exchanges, Bitfinex, FTX and Gate.io in offering our community the opportunity to buy, sell, and trade HMT. About HMT HMT is the native cryptocurrency of HUMAN Protocol. In practice, Requesters – who want to launch […]