These days it’s nearly impossible to miss all of the excitement, controversy and profit potential surrounding the world of cryptocurrencies, and more specifically, the projects surrounding decentralized finance (or DeFi). Innovation within the realm of lending, financial advice and yield farming is moving at the speed of light. That’s why it’s time for a lesson in Decentralized Finance 101.
Ethereum is entering new territory. Its blockchain processed a record 1.4 million transactions yesterday, eclipsing the previous record of 1.238 million transactions set on January 4, 2018. A transaction volume chart shows a rapid increase in transactions leading up to yesterday’s peak. It makes sense given that much of the hoopla surrounding decentralized finance involves a slew of ERC-20 compliant projects.
A recent report by Fidelity Investments surveyed 441 institutional investing bodies, including pension funds, financial advisors, foundations and both traditional and crypto-specific hedge fund managers. It turns out that 22% of these 441 firms already own digital assets and 47% of respondents say they plan to add digital assets to their respective portfolios in the near future.
According to decentralized finance news aggregator DeFi Pulse, more than 100,000 bitcoins are tied up in decentralized finance related projects. At nearly $14,500 Canadian per Bitcoin, that’s $1.45 billion. Is the concept of tying up digital assets and investments in DeFi projects a good thing or bad thing for bitcoin?
Understand why proof-of-stake algorithms is taking over the crypto space and the different ways of staking. And delve deeper into how you as an investor can grow your wealth significantly by contributing to cryptocurrencies that use proof-of-stake mechanisms.
The Number of Bitcoin Whales with More Than 1,000 BTC to Their Name Is Increasing Exponentially. Is the Trend Signalling Another Bull Run for Bitcoin?
The number of Bitcoin addresses holding at least 1,000 bitcoins is continuously following an upward trend starting from January 2019 all the way up to this month. This likely means another Bitcoin Bull Run is about to begin. It could also mean much more than that for not only institutional investors, but also for you, the individual investor.