Ethereum bulls are battling to stay above $2,000 after a strong 10% surge, it looks like the market is reacting to the upcoming London Hard Fork? If you’re on the sidelines, recommend watching Monday (weekly open) pumps with caution. Expecting this week to be pretty boring in terms of traditional/outside economic news, so barring anything outlier, just trade the chart. The trend is your friend and the range is the range!
Meanwhile, it seems we might soon calm down on the China FUD for a return to the Tether FUD? A U.S. Federal Reserve official advised that Tether’s USDT stablecoin is on their list of things that risk the stability of the financial system. And in other news that might be used to scare you this week:
- Huobi has banned Chinese residents from using derivatives.
- UK’s financial regulator has banned Binance Markets Limited (BML) from operating, but this is NOT related to Binance’s exchange operations, so nothing changes for users.
- Colombia: Potentially the next country to announce Bitcoin as legal tender in South America? Recently announced a $2.3M fund that focuses on supporting emerging technology in Bogota, with blockchain development being mentioned.
- DFINITY: ICP token is now down by 95% in two months, notably due to team dumping tokens. Given most investors’ tokens are locked, there is nothing one can do to stop the pain! It seems this might be the playbook for token sales, notably teams changing vesting periods, so watch out.
- Ricardo Salinas Pliego: The third richest man in Mexico stated that if he had to hold an asset for 30 years then it would have to be Bitcoin. Mainly, he highlighted BTC’s limited supply as the attractive factor for holding value.
- Sarcophagus: Lots of talk around a decentralized Dead Man’s switch since John McAfee was found dead. Here is a project built on Ethereum and Arweave that is building a blockchain-powered DMS – very cool!
- Backed Protocol: Upcoming decentralized insurance protocol for cryptocurrency trading, enables users to take out coverage on market positions. Read through our full review here.
- Eleven Finance: Announced a partial recovery of the funds stolen via the recent exploit, by a whitehat hacker. Good to see the team is not letting the hack stop the building, and is pushing ahead with an upcoming release on Arbitrum L2.
- bEarn: Released decentralized betting for the UEFA EURO 2020, all betting uses the BDOv2 algo stablecoin on Binance Smart Chain.
- PancakeSwap: New stablecoin farms are live for users looking to reduce their risk and earn CAKE, pool funds to CAKE-USDT, USDC-USDT, or BNB-USDT. Check out our full tutorial on using PancakeSwap here.
- Badger DAO: Launched 5 new BTC vaults that use Curve along with Convex Finance optimizer strategies to maximize earnings. Believe there is a strategy for any form of tokenized Bitcoin, so check it out!
- SafeDollar: The price of an algo stablecoin on Polygon called SDO token dropped to $0 after a huge exploit that resulted in the loss of $250,000. Seems like the hackers have quickly moved into scanning protocols on Polygon!
- Swipe: Announced testnet for Swipe Chain will be live in July, note that mainnet launch should also bring the release of SXP staking. Learn more about how swipe powers Binance Card in our full review.
- Reflexer Finance: Mentioned on Twitter that next week they will start a pilot for self-repaying RAI loans. Minters enjoy a negative interest rate, protection against liquidation, and rewards for LPing, all in one. Sounds awesome, time to follow!
- Raydium: Announced a partnership with Wootrade Network to drive liquidity, to launch a WOO-USDC LP pair, and that RAY token will list on WOO X Exchange.
Be sure to check the listing to view the digital crypto artwork in its full glory, as some art is animated or contains audio.
- Alpha Finance: Chance to win a free Alpha NFT if you hold more than 1,000 ALPHA tokens, just have to vote. The team announced a collaboration with Simp Love to create the artwork, looks great!
- Render Farm: Stunning drop scheduled to happen on MakersPlace for a piece called Down on the Render Farm by David Ariew, an acclaimed 3D and visual artist.
- DeFi Land: An upcoming platform that will gamify a user’s experience of decentralized finance, powered by Solana and the protocol’s native DFL token. From the artwork in the introduction post, it looks very promising and should attract the masses.