The hot news this week is that China banned Bitcoin and other cryptos (again), in 2021. This article clarifies the position and sums up quickly that, no, China did not ban crypto again.
What we know
Here’s the real fact based news. China issued a notice last Friday from the State Council, which aims to clampdown on crypto exchanges and mining, mainly due to potential risks for consumers and society in China.
A few days prior to the State Council notice, the China Internet Finance Association warned the public about the risks of investing in cryptocurrencies, listing four specific issues with cryptos they…
The 2021 crypto bull run is something to write home about. Let’s take a look at the top performing crypto assets over the past several months.
The current cryptocurrency bull run started in October 2020, and is still ongoing, even stronger than before. At the time of this writing, we’re looking at an ongoing bull run of over 7 months, which is about a month longer than the previous bull run of 2017, which lasted in total about 6 months (from August 2017 to January 2018).
With the current runup of prices looking stronger than ever before, there seems to…
This week in cryptocurrency had a few exciting and newsworthy events. Let’s recap the week and see what were the market drivers and topics everyone was talking about.
U.S. President Biden tax plan causes chaos
At the end of last week, President Biden dropped a bombshell that seemed to rock the crypto prices: Biden will propose a capital gains tax as high as 43.4% for the wealthy.
Since the way that cryptocurrencies like Bitcoin are taxed, when you sell it for USD, it is taxed as capital gains. If the Biden proposal were to be adopted, nearly 50% of any gains you were to receive from the…
With ETH 2 on the horizon, the Ethereum gas limit gets an increase. All while ETH prices are experiencing all-time highs.
A major obstacle that the Ethereum user and development community has faced in recent times has been high gas fees. With Ethereum seeing a huge increase in demand in the past years, gas (transaction) fees have skyrocketed, in some cases with complex contracts being hundreds of dollars for a single transaction. Due to this, it’s made the network unusable to some, as they are simply priced out of using it.
We would be remiss if we didn’t say that one of the big contributors to the current stage of this bull run is from the excitement of the Coinbase public offering.
It was just a handful of months ago when Bitcoin prices were holding steady in the range of $9K to $11K. Then the prices seemingly took off toward the end of the year, sending the entire market into a bull run.
Looking back, prices have made large leaps, up to $20K, $40K, and then sat at around $50K for a bit. This is where the Coinbase effect came into…
There has been a lot of hype around decentralized finance over the past year, here are a few reasons why DeFi is doing so well.
What is DeFi
First things first, just what is DeFi? The abbreviation is short for decentralized finance, which as the name implies, involves decentralized and distributed networks and cryptocurrencies. Some popular DeFi blockchains are of course Ethereum, which is the most well known, and some others like Uniswap or Chainlink.
Each blockchain network may have it’s own purpose, different from another, all contributing to the overarching DeFi ecosystem. By having multiple use-cases and focus-areas of…
The long anticipated Version-3 (V3) of Uniswap has been released, which are big improvements to make the decentralized exchange even more powerful.
Uniswap V3 was released last week, with several upgrades. The big change is allowing liquidity providers to make markets within customized price ranges, which is being called ‘concentrated’ liquidity. LPs are responsible for placing their assets into liquidity pools, where Uniswap users trade. V3 also introduces multiple fee tiers, letting liquidity providers be appropriately compensated for taking on varying degrees of risks.
For the uninitiated, Uniswap is a decentralized exchange (DEX). Uniswap also has it’s own token, called…
The day has come that you can buy a Tesla with your Bitcoin, but what will hodler’s do in this case?
It was the tweet of the cryptoverse today on Twitter, when Elon Musk said that “You can now buy a Tesla with Bitcoin.” It is big news in terms of adoption and signaling, where Elon Musk one of the most influential people in the world said he will start accepting Bitcoin to buy Tesla cars.
The market reacted favorably, sending the price up 4% in the last twenty-four hours.
Filecoin made it’s highly anticipated launch in 2020. The aim of FIL is to be a decentralized storage network, allowing anyone to store their files (images, videos, documents) to the Filecoin blockchain.
Similar to the roots of file sharing clients back in the early days of the interwebs, Filecoin (FIL) is a distributed network built by Protocol Labs as an incentives based solution to file storage. Protocol Labs is the same company who built InterPlanetary File System (IPFS), which is a peer-to-peer network for storing and sharing data in a distributed file system.
There’s no denying it, non-fungible tokens are so hot right now, and it’s bringing in a lot of attention and people into the cryptocurrency space.
Non-fungible tokens (NFT) are still gaining a lot of traction, breaking sales records and getting the attention of celebrities from all over who are entering the cryptocurrency space for the first time. With new people also comes new money, helping to boom the crypto economy and make NFT and various blockchains more popular. Undoubtedly the masses will follow, and they will not only learn about NFTs but also cryptocurrencies too.
New waves of people
OKEx
Buy & sell Bitcoin, Ethereum, and more at the world’s largest spot & futures cryptocurrency exchange. Website: https://www.okex.com/?channelFlag=ACEAP6501380
