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Crypto Flipsider News – Unspent Miner Rewards Near ATH, Terra Becomes 2nd Biggest DeFi Network, VC Invests $30 Billion, BIS Calls for Global Regulation, Grim Finance $30M Hack, Polkadot’s Parachain Launch

From Shiba Inu to Pot and Putin… the bizarre world of cryptocurrency names

Bitcoin Miners Unspent Supply Nears ATH Peter Brandt’s BTC prediction

Five weeks have passed since Bitcoin reached a record $68.7k, and crypto markets have been under bearish pressure. Despite the downtrend, the number of unspent coins being issued to miners is still 500 BTC lower than the ATH at 1.778 BTC.

Analysis shows that the number of unspent miners’ BTC began growing in March 2020. Since then, miners have been HODLing and expecting the price to continue rising.

Flipsider:

  • Peter Brandt , a trading legend, believes that Bitcoin may continue to decline.
  • Brandt believes that Bitcoin’s price action at the moment suggests that it has yet to see the bottom of its correction because of its insignificant trading volume.

Flipsider:

  • Peter Brandt , a trading legend, believes that Bitcoin may continue to decline.
  • Brandt believes that Bitcoin’s price action at the moment suggests that it has yet to see the bottom of its correction because of its insignificant trading volume.

Why You Should Care

Regardless of Bitcoin’s current price action, the strong holding sentiment held by investors is a major differential in the industry compared to when there was major sell-off during past bearish trends.

Terra is Now the Second Biggest DeFi Ecosystem

Two weeks ago Terra (LUNA) made headlines for blitzing its way to a new ATH at a time when other cryptocurrencies were drowning in a sea of red. The network continues to show resilience, pushing its way up, and becoming the second largest DeFi ecosystem, displacing the Binance Smart Chain.

Terra is now ranked as the second-largest DeFi ecosystem with a TVL of $16.98 billion, surpassing BSC, which holds $16.28 billion at the time of writing. Interestingly, there are only 13 DeFi protocols on the Terra network, compared to the 222 on the BSC.

Terra is Now the Second Biggest DeFi Ecosystem

Two weeks ago Terra (LUNA) made headlines for blitzing its way to a new ATH at a time when other cryptocurrencies were drowning in a sea of red. The network continues to show resilience, pushing its way up, and becoming the second largest DeFi ecosystem, displacing the Binance Smart Chain.

Terra is now ranked as the second-largest DeFi ecosystem with a TVL of $16.98 billion, surpassing BSC, which holds $16.28 billion at the time of writing. Interestingly, there are only 13 DeFi protocols on the Terra network, compared to the 222 on the BSC.

The TVL of Terra (LUNA) in 2021. Source: DefiLlam

Terra was ranked as the fifth-largest DeFi network at the start of December, with a TVL of $12.77 billion. The TVL of the Terra ecosystem has grown by 5.16% in the last 24 hours and 33% in the last seven days.

Anchor, a savings protocol, contributes $7.14 billion worth of the value locked; Lido, a liquidity staking protocol, is second with $4.96 billion, while decentralized exchange Terraswap comes in at third place with $1.87 billion locked.

Flipsider:

Terra has a long way to go to catch Ethereum, which has over $148 billion in TVL.
Why You Should Care

Terra’s growth can be linked to its remarkable network, which has been hailed by developers for its fantastic performance.

Crypto VC Investments Exceed $30 Billion in 2021, BIS Exec Calls for Global Regulation in 2022

2021 can be described as a defining year for the crypto industry, as it reached a total market capitalization of $3 trillion as a result of fast growing adoption. According to a new report, investment from venture capital funds in 2021 has thus far exceeded $30 billion, more than in the entire last decade combined.

Venture capitalists based in the United States contributed the most, raising $7.2 billion between January and December 15th. FTX was the biggest investment throughout the course of the year, as the crypto derivatives exchange raised $1 billion in a single round of funding.

Why you should care

The biggest threat to trust is crypto scams.

Official Launch of Parachains on the Polkadot Network

Polkadot’s parachains, or parallelized chains, have been launched on its main blockchain after five years of development. Polkadot claims that the parachains will improve interoperability among multiple blockchains.

Five parachains are part of the Polkadot Network: Acala (Moonbeam), Parallel Finance, Astar and Clover. Gavin Wood, co-founder of Polkadot says that no blockchain was ever designed to operate independently.

The project is moving closer to its original vision by integrating the first five blockchains into Polkadot. These parachains, which are part of the Polkadot Relay Chain can be used to support multiple user profiles within a network and preserve their uniqueness.

Wood spoke at the launch.

Each chain has trade-offs that make it suitable for certain applications. Parachain was designed with the belief in mind that Web 3’s future will include many types of blockchains working together.

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