Crypto Guides, Knowledge & Insights

Is Aave destined to stay the top DeFi lending platform?

According to Footprint, the number of platforms in the DeFi lending category grew by 263% to 69 since December 2020, setting a record TVL of $48.44 billion, accounting for 21.04% of all DeFi platforms and networks entire TVL.　　The most important lending platforms to have emerged are Aave, MakerDAO and Compound—they dominate the category in terms of TVL. However, while Compound used to be the strong favorite, the May 19th Crypto Market Crash reshuffled the leaderboard and Aave took the lead.　　As indicated in the chart below, MakerDAO and Compound have performed poorly in recent months.　　Therefore, many people are wondering whether Aave is on top because its a particularly strong platform or because its competitors temporarily fell behind. The answer determines your assessment of Aave locking in your tokens in the long term, and also who to watch for insights about the future of crypto lending.Data overview　　When we look at the data, it becomes clear that Aave has several strong advantages that indicate it will continue to be a market leader in DeFi lending. Namely, it is highly secure, innovative, and has recently launched Aave Pro, which gives it an enormous head start as traditional finance starts to buy into crypto.Project Background　　Aave,

2021-11-03Deep Dive

Cardano (ADA) Catalyst Fund6 votes are in, which projects made it?

Daniel Ribar, who works in a community and communications capacity at Cardano Project Catalyst, has released the results of the Fund6 vote. He took the opportunity to state that Catalyst exemplifies transparency in governance protocols.　　The top three most voted for projects related to software as a service, an open-source SDK for smart contract developers, and an avatar personalization function for wallets.　　Over 102 proposals were submitted, but just 20 projects met all of the criteria, including meeting budget requirements, to qualify for a slice of the public funds.What is Project Catalyst？　　Project Catalyst launched in September 2020 for the purpose of providing public funding for projects building on Cardano. It forms part of Cardanos strategy for developing on-chain governance by making use of treasury funds to pay for innovation.　　After the initial ideation, collaboration, and proposal stages, ADA holders vote on which projects they want to see funding for. Holders can vote yes or no on the proposals presented from their Ledger, Trezor, Daedalus, Yoroi, or Adalite wallets.　　“When it comes time to vote, all participants will need to register to vote through the voting app. The ‘right’ to vote will be linked to each participants ada holdings and will earn them additional rewards

2021-11-03Deep Dive

Ethereum (ETH) just hit one week of ‘negative issuance.’ Here’s what it means.

Ethereum (ETH) hit one week of negative issuance for the first time on Sunday, as effects of the networks deflationary design came into full display.　　Since the London hardfork upgrade, which implemented the deflationary EIP-1559 proposal, the network burns a portion of fees each time an Ethereum transaction is done.Ethereum is deflationary　　“For the first time, Ethereum just hit one week of negative issuance,” tweeted Evan Van Ness, founder of Week in Ethereum News, on Sunday.　　“Ethereum is deflationary,” Van Ness pointed out, since at last weeks rate, with over 100% net reduction, more Ethereum was burned than issued.　　At the time of writing, according to Etherchain.org, the network is burning 8.92 Ethereum worth $38,730 every minute over the last 24 hours.　　The networks burning mechanism torched 714,414 Ethereum, worth over $3.1 billion, at the time of writing, since the EIP-1559 proposal came into effect.　　So far, based on ultrasound.money burn leaderboard, OpenSea is responsible for torching the biggest portion of Ethereum network fees.　　According to the Ethereum supply-tracking site, the non-fungible token (NFT) marketplace accounted for burning almost 92,000 Ethereum, which equates to roughly $398 million.　　However, the decentralized exchange (DEX) Uniswap V2, which accounts for a total of 53,329 Ethereum burnt thus far, torched the biggest

2021-11-02Deep Dive

CryptoPunk NFT worth over $850,000 sold in error for less than $20,000

One lucky trader has just been able to cop one of the most expensive NFTs in the space for less than 5% of its actual price.　　The NFT in question, CryptoPunk 7557, which is worth at least $850,00 was sold for 4.444 ETH which translates to around $19,400 yesterday.CryptoPunk sells for less than $20,000　　CryptoPunk 7557 is one of the few NFTs with a tiara. According to available information, there are only 55 of them and the last known sale of a CryptoPunk with a tiara cost around 197 ETH ($843,000).　　Larva Labs, the team behind CryptoPunk was quoted to have said that the cheapest “Tiara Punk” will cost 350 ETH which is roughly $1.5 million.　　This means that the listing of the Punk for that ridiculously low price would have been a mistake on the part of the seller. Judging by the price listing history of the asset, the previous owner of the NFT had listed it for 8,888 ETH before it was then erroneously listed for 4.444 ETH.　　It would be safe to say to assume that the sellers intention would have been to list the CryptoPunk for 4,444 ETH and not the price that the asset eventually went for.Buyer “bribed” transaction through　　An

2021-11-02Deep Dive

Polkadot (DOT) sets a new all time high ahead of parachain auctions

High-speed blockchain platform Polkadot has recently passed a proposal that enables registration and crowd loans for developers. The news has made the prices of DOT soar 15% to an all-time high. In response to the news, Polkadots native token DOT has climbed 15% higher in prices and is currently at $50.87Polkadot Assembly adopts a new proposal　　According to the Polkassembly platform, a proposal that will allow developers to register parachains and explore crowd loan funding for projects was successfully passed by the Polkadot council. Users and developers were invited to cast their votes in or against the proposed proposal.　　The prices of DOT have responded positively to the news and have shot up to a striking 15% to an all-time high as compared to its previous ATH in May at $49.35.　　The first batch of Polkadot parachain auction is scheduled for November 11. Additionally, The first batch will last for five weeks with one auction being held each week. A total of 11 auctions are slated to be released in two batches.　　In the meantime, the proposal needs to pass the final stage which requires seeking approval from the public. The motion, which is expected to get approved sometime soon, will assist “ parachain

2021-11-02Deep Dive

Police forces jump into AnubisDAO saga after $60 million ‘rug’

Launched last week, in the midst of the “dog-coin” surge, AnubisDAO lost control of the project‘s liquidity pool, as $60 million of investors’ funds got drained in what appears to be another rug pull incident.　　Following the accusations, both Hong Kong and US law enforcement got involved, while the suspect developer claimed to have fallen victim to a phishing attack.What happened to the $60 million？　　Marketed as a fork of OlympusDAO, the project launched its ANKH token sale on the Copper crowdfunding platform on Thursday.　　It instantly attracted investors and raised $60 million, but shortly after, the funds got drained from the projects liquidity pool. 　　Following the theft of the funds on Friday, accusations of rug pulling flooded Twitter.　　According to one of the leaders in the DAO, who goes by the name Sisyphus, the critical mistake was giving full control of the liquidity pool to a single developer.　　He outlined the incidents timeline on Medium and continued posting updates via his Twitter account.　　Hong Kong law enforcement were contacted shortly after it became obvious that the same wallet that created the Copper launch, removed the liquidity. 　　Meanwhile, the suspect developer, who goes by the name Beerus, claimed to have opened a malicious link from a

2021-11-02Deep Dive

Dogelon Mars' and Shiba Inu rises 4000% and 1000% respectively in October.

The Crypto Market has witnessed a revival and massive pump on MEMECOINS and SHITCOINS last week after their brutal dump in May following the Bitcoin crash. Particularly, the two Memecoins: Dogelon Mars and Shiba Inu has shown massive pumps up to 4000% and 900% pump respectively in just October alone. Other Shitcoins as Catecoin, Feg, Safemoon, Safemars, Pitbull, Vancat and Elongate has risen by more than 700% each just October alone suggesting a revival and beginning of Memecoins and Shitcoins season.　　The last two weeks ending the month of October this year have been remarkable as the weeks and month for the resurgence of Meme coins and Shitcoins ever since their general dump in May after Bitcoin crashed down to 30K. Most Memecoins and Shitcoins had remained stagnant and sleeping till their sudden wake in October others after Bitcoin hit once more its previous ATH at 64K and proceeded to a new ATH at 67K. among the Memecoins are the two linked directly and indirectly with Elon Musk.　　Dogelon Mars (Elon) which is a meme cryptocurrency named after Tesla and SpaceX CEO Elon Musk has risen in price value up to 3,800% in October alone. This Meme coin mimicked Dogelon Mars (ELON),

2021-11-02Deep Dive

Institutional Investors Are Pouring Capital Into Ethereum, Solana and Two Additional Altcoins

Digital asset manager CoinShares is detailing a shift in the way institutions are allocating capital to Bitcoin and the altcoin markets.　　According the firms latest report, a tidal wave of inflows triggered by the launch of the first Bitcoin (BTC) futures exchange-traded fund (ETF) in the US has evened out.　　The asset manager says the crypto king saw roughly $268,000,000 in new inflows, compared to $1,450,000,000 the week before.　　At the same time, CoinShares reports an increase in inflows to smart contract platforms Ethereum (ETH) and Solana (SOL).　　After three consecutive weeks of outflows, Ethereum broke the streak with $16,600,000 in inflows.　　Solana is also on the rise, recording more than $14,700,000 in inflows compared to $8,000,000 last week.　　Polkadot (DOT) burst onto the scene, recording $6,200,000 in inflows compared to $400,000 the week before. Cardano (ADA) remained steady at $5,000,000 compared to a previous total of $5,300,000.　　Source: Bloomberg, CoinShares, data available as of October 29, 2021　　As institutions target specific altcoins, they are simultaneously pulling money away from multi-asset investment products, according to CoinShares.　　“Multi-asset investment products saw outflows totaling a record US$23m, in what is now a 3-week run of outflows. We believe investors are currently preferring single-line exposure and are becoming more discerning over their

2021-11-02Deep Dive

Peter Thiel Calls Bitcoin Surge Sign of a “Crisis Moment”

Key Takeaways　　According to Peter Thiel, the high price of Bitcoin is a possible sign the US economy may be witnessing inflation.　　Thiel made the comment during his keynote address at the second National Conservatism Conference (NatCon) in Florida.　　Previously, Thiel admitted that he felt underexposed to the asset class and that he wished he had bought more Bitcoin.　　At an event on Sunday, Peter Thiel, the co-founder of PayPal and Palantir Technologies, claimed that Bitcoins sharp rise was a sign of the ongoing rise in inflation.　　Thiel Suggests Bitcoin Surge is Sign of Larger Problems　　According to Peter Thiel, rising Bitcoin prices may be an indicator that economic inflation is real.　　During his keynote address at the second National Conservatism Conference (NatCon) in Florida, Thiel stated that the high Bitcoin price was a possible sign that the US economy may be witnessing inflation fueled by the expansion of the dollar supply.　　According to a Bloomberg report, the tech entrepreneur and billionaire added that the assets price increase was a sign of a “crisis moment.” Thiel criticized the Federal Reserve for not acknowledging inflation risks and for continuing to issue money.　　“You know, $60,000 Bitcoin, Im not sure that one should aggressively buy,” Thiel said, before adding, “surely what

2021-11-02Deep Dive

Burger King and Robinhood Will Give Away 2 Million Dogecoin to Customers

Burger King has started taking advantage of Dogecoin again. It is now offering the cryptocurrency as a reward to American customers.　　Fast-food giant Burger King has partnered with Robinhood to distribute cryptocurrencies to its customers. All buyers that make a $5 purchase will receive guaranteed Dogecoin, alongside a chance to win ether and bitcoin.　　Crypto With Your Combo Meal　　As detailed in a press release from Burger King earlier today, the new crypto giveaway is part of the business Royal Perks program. Members earn “crowns” for every dollar they spend at the restaurant, which may be redeemed for more fast food.　　This time, program members that purchase over $5 of food through the Burger King app will receive a prize code via email. This code may be redeemed through the Robinhood Crypto trading app to receive cryptocurrency.　　Every prize code includes a guaranteed sum of DOGE – though the exact amount included in each purchase is unspecified. However, there are a total of two million Dogecoin available, which amounts to over $500 million at its current price.　　There is also a small chance for buyers to earn either ETH or BTC, alongside their Dogecoin. The odds of winning Ether are 1:10 001, with over 200 available

2021-11-02Deep Dive