Defiye https://defiye.com DeFi Education and Analysis Wed, 13 Jan 2021 11:39:26 +0000 en-GB hourly 1 https://wordpress.org/?v=5.6 https://defiye.com/wp-content/uploads/2020/08/cropped-shutterstock_755970418-860x516-1-32x32.jpg Defiye https://defiye.com 32 32 Uniswap (UNI) is Firmly Fixed Among the DeFi Tokens Leaders and Moves to $8.29 https://defiye.com/2021/01/uniswap-uni-is-firmly-fixed-among-the-defi-tokens-leaders-and-moves-to-8-29/?utm_source=rss&utm_medium=rss&utm_campaign=uniswap-uni-is-firmly-fixed-among-the-defi-tokens-leaders-and-moves-to-8-29 https://defiye.com/2021/01/uniswap-uni-is-firmly-fixed-among-the-defi-tokens-leaders-and-moves-to-8-29/#respond Wed, 13 Jan 2021 11:39:25 +0000 https://defiye.com/?p=6165 The trading year on the Uniswap (UNI) market ends with great optimism. On 31 December, buyers broke free from the shackles of consolidation, which we wrote about in the previous article. After breaking the range of $4.1-4.3, buyers organized the growth wave, thanks to which the UNI price rose by 67%. After setting a new local high of $6.84, the UNI price continued to move in the black growth channel. Before reaching the upper limit of the channel, buyers felt resistance in the range of $6.23-6.43. The five-day consolidation of the price in the UNI market under this range forced buyers to retreat and give the local initiative into the hands of sellers: Buyers keep the critical mark of $5.2 By the way, the sharp collapse of the UNI price on 11 January did not break either the global growth trend or the local attack of buyers. Having arranged a false breakout of the local growth trend from 24 December, sellers retreated. As we can see, the mark of $5.2 we talked about in previous articles now plays a key role in the growth trend continuation. The daily candle closed above this mark on 11 January, which allows buyers to...

The post Uniswap (UNI) is Firmly Fixed Among the DeFi Tokens Leaders and Moves to $8.29 appeared first on Defiye.

]]>
https://defiye.com/2021/01/uniswap-uni-is-firmly-fixed-among-the-defi-tokens-leaders-and-moves-to-8-29/feed/ 0
Polkadot (DOT) Buyers Withstood a Blow in the Range of $7-7.5 https://defiye.com/2021/01/polkadot-dot-buyers-withstood-a-blow-in-the-range-of-7-7-5/?utm_source=rss&utm_medium=rss&utm_campaign=polkadot-dot-buyers-withstood-a-blow-in-the-range-of-7-7-5 https://defiye.com/2021/01/polkadot-dot-buyers-withstood-a-blow-in-the-range-of-7-7-5/#respond Wed, 13 Jan 2021 06:46:32 +0000 https://defiye.com/?p=6147 Sellers arranged a rather dangerous inspection in the Polkadot (DOT) market. The triumphant price growth, which began in late December significantly slowed in the range of $9.6-10. Despite the frantic trading volumes, buyers could not continue the Polkadot (DOT) price growth without rest. The struggle for this range lasted 9 days. The signal for the surrender of buyers was the daily candle on 9 January: Polkadot (DOT) price exhausts buyers As you can see in the chart, after the unsuccessful DOT price-fixing in the range of $9.6-10, the next attempt of buyers from 9 January was at very low volumes. This fact showed a low interest of investors to actively buy at such prices. As a result, we saw a sharp correction in the Polkadot (DOT) market, in which the price fell by 26%. In the previous article we wrote about an important range of $7-7.5. Buyers confirmed their strength and interest in this range, not letting the price fall below. If you pay attention to the volume at which the price sharply fell on Monday (11 January), the strength of buyers becomes obvious. Closing a daily candle with a large pin hint at great interest from investors in this...

The post Polkadot (DOT) Buyers Withstood a Blow in the Range of $7-7.5 appeared first on Defiye.

]]>
https://defiye.com/2021/01/polkadot-dot-buyers-withstood-a-blow-in-the-range-of-7-7-5/feed/ 0
Chainlink Launches New Filecoin (FIL/USD) Price Feed for Developers https://defiye.com/2021/01/chainlink-launches-new-filecoin-fil-usd-price-feed-for-developers/?utm_source=rss&utm_medium=rss&utm_campaign=chainlink-launches-new-filecoin-fil-usd-price-feed-for-developers https://defiye.com/2021/01/chainlink-launches-new-filecoin-fil-usd-price-feed-for-developers/#respond Tue, 12 Jan 2021 10:21:40 +0000 https://defiye.com/?p=6132 Leading decentralized oracle provider Chainlink announced the creation of a new Filecoin (FIL) price feed on January 10. Already used by derivatives liquidity protocol Synthetix, the price feed helps DeFi developers gain access to accurate and stable prices which they can use to create decentralized applications. As we can see, Chainlink resumes in maintaining its dominance as the number one oracle protocol in the blockchain industry. Chainlink’s newest price feed provides regular, trusted, and decentralized information on the price of the FIL/USD token pair. The oracle network comprises nine individual nodes that aggregate the pair’s price data. These nodes include Figment Networks, Infinity Stones, Newroad, Omniscience, P2P.org, Anyblock, Ztake, SyncNode, and Simply VC. By utilizing the FIL/USD price feed, developers can create decentralized applications and use cases based on the Filecoin protocol. While the project may be notorious for its volatile market movement, Filecoin still represents a notable player in the area of decentralized data storage. As a reminder, Filecoin finally launched in October 2020 after two years of development. It represents one of the most famous projects in the 2017 era, raising $257 million during an ICO on September 7, 2017. What is Filecoin? Filecoin represents a decentralized data...

The post Chainlink Launches New Filecoin (FIL/USD) Price Feed for Developers appeared first on Defiye.

]]>
https://defiye.com/2021/01/chainlink-launches-new-filecoin-fil-usd-price-feed-for-developers/feed/ 0
Cover Protocol Founder Announces 5 New Features for V2 https://defiye.com/2021/01/cover-protocol-founder-announces-5-new-features-for-v2/?utm_source=rss&utm_medium=rss&utm_campaign=cover-protocol-founder-announces-5-new-features-for-v2 https://defiye.com/2021/01/cover-protocol-founder-announces-5-new-features-for-v2/#respond Tue, 12 Jan 2021 06:33:44 +0000 https://defiye.com/?p=6138 The developer and founder of Cover Protocol announced a set of brand new features that will be introduced in an upcoming version of the project. Working under the names of ‘ChefCoverage’ and Alan, the developer, presented five never seen before updates to the community in a Twitter post on January 10. Cover Protocol, which now works together with Yearn Finance in a unique DeFi ecosystem, is considered to be one of the best coverage platforms in the market. Although, the first version of the project merely represents the start for coverage insurer enthusiasts as we expect more innovative features to come. As developers have completed the initial stage of Cover Protocol, they are now looking to completely overhaul the project. So far, the community had no idea what to expect in the new version as developers work quietly without announcing any information. However, the situation changed as Alan revealed a set of five important changes on Twitter. Alan shared that users will have the ability to create specific and isolated risks within individual projects. For example, each Yearn vault will have its own covToken coverage. The second feature includes bundled protocols, which users can utilize for coverage purposes. Furthermore, the...

The post Cover Protocol Founder Announces 5 New Features for V2 appeared first on Defiye.

]]>
https://defiye.com/2021/01/cover-protocol-founder-announces-5-new-features-for-v2/feed/ 0
Failed Historical High Update and ETH Correction Beginning https://defiye.com/2021/01/failed-historical-high-update-and-eth-correction-beginning/?utm_source=rss&utm_medium=rss&utm_campaign=failed-historical-high-update-and-eth-correction-beginning https://defiye.com/2021/01/failed-historical-high-update-and-eth-correction-beginning/#respond Mon, 11 Jan 2021 11:31:18 +0000 https://defiye.com/?p=6124 The new trading week on the ETH market started with sourness. At the time of writing, sellers have almost completely destroyed all the achievements of buyers in the previous week. And the achievements were considerable. Buyers raised the ETH price by almost 35% last week and tested the critical range of $1260-1350. In the previous article, we wrote about the importance of this range in ETH market history. Besides, this price zone’s seriousness is confirmed by last week’s trading volumes, which were the highest for the entire period of ETH existence. This record for volumes on the one hand is gratifying, as high volumes indicate interest in the coin. However, if you compare the efforts of buyers and the weekly candle size – it becomes clear that the price rested against the strong walls of sellers seeking correction. Who is to blame, Bitcoin? Basically, the sharp correction in the ETH market began due to the beginning of the BTC price fall. Having fallen by almost 20% since 10 January, Bitcoin has pulled all crypto and DeFi markets. An interesting fact is that a new fall momentum began to form over the weekend. The previous weekend gave investors a new growth...

The post Failed Historical High Update and ETH Correction Beginning appeared first on Defiye.

]]>
https://defiye.com/2021/01/failed-historical-high-update-and-eth-correction-beginning/feed/ 0
Will Yearn Finance Mergers Result in a Unified L2 Ecosystem? https://defiye.com/2021/01/will-yearn-finance-mergers-result-in-a-unified-l2-ecosystem/?utm_source=rss&utm_medium=rss&utm_campaign=will-yearn-finance-mergers-result-in-a-unified-l2-ecosystem https://defiye.com/2021/01/will-yearn-finance-mergers-result-in-a-unified-l2-ecosystem/#respond Sun, 10 Jan 2021 18:22:20 +0000 https://defiye.com/?p=6118 Will the numerous mergers made by Yearn Finance in the past two months result in a gigantic DeFi ecosystem based on L2? According to one anonymous individual on Crypto Twitter, SushiSwap’s latest blog post indicates that the proposition might be true. If so, we will see a Yearn enriched subset of DeFi filled with AMMs, money market protocols, insurance platforms, yield farming, projects, and much more. In a Twitter post shared on January 9, user Dogetoshi connected two dots which imply that Yearn’s mergers are far more serious than we are led to believe. A blog post revealed by SushiSwap recently states that the DEX protocol plans to ‘move in sync with the greater Yearn ecosystem.’ Moreover, the exchange seeks to integrate Zk-rollups as part of its layer 2 (L2) scaling solution. While the decision still has to be made as to which L2 solution will be implemented, we still see that Yearn and other projects wish to fuel their growth by working together under one scaling protocol. As such, it is highly possible for ZK-rollup to dominate in the future and establish a proven scalability layer before even Ethereum does. Dogetoshi suspects that the process will result in even...

The post Will Yearn Finance Mergers Result in a Unified L2 Ecosystem? appeared first on Defiye.

]]>
https://defiye.com/2021/01/will-yearn-finance-mergers-result-in-a-unified-l2-ecosystem/feed/ 0
Sushiswap (SUSHI): $4.7 Not the Ceiling, Possible Growth to $8.6 https://defiye.com/2021/01/sushiswap-sushi-4-7-not-the-ceiling-possible-growth-to-8-6/?utm_source=rss&utm_medium=rss&utm_campaign=sushiswap-sushi-4-7-not-the-ceiling-possible-growth-to-8-6 https://defiye.com/2021/01/sushiswap-sushi-4-7-not-the-ceiling-possible-growth-to-8-6/#respond Sun, 10 Jan 2021 10:09:03 +0000 https://defiye.com/?p=6107 The second breath in the Sushiswap market (SUSHI) opened just in time. The slowdown in the growth trend and local highs restriction by the red curve cast little doubt on the SUSHI price local future. Constant price contact with the lower trend line of the trend channel could play a dirty trick, such as on 23 December. However, the consistently high trading volumes over the past week, the favorable situation in the crypto market as a whole allowed SUSHI buyers to get out of this trap. Already on 3 January, the SUSHI price broke the red curve. In such a way it proved that the market has moved from a phase of passive growth to an impulsive. The greedy purchase of SUSHI proves the imbalance in the market towards the bulls All the following days, buyers confidently bought the offer of sellers, not allowing organize a correction. Buyers have finally broken away from the bottom trend line today. And they have achieved the main target we wrote about in the previous article. Though, as we see from the nature of the price growth, the range of $4.6-4.7 may be a temporary stop before a new future growth wave. One of...

The post Sushiswap (SUSHI): $4.7 Not the Ceiling, Possible Growth to $8.6 appeared first on Defiye.

]]>
https://defiye.com/2021/01/sushiswap-sushi-4-7-not-the-ceiling-possible-growth-to-8-6/feed/ 0
Plasm Will Bring MetaMask To Polkadot for the First Time https://defiye.com/2021/01/plasm-will-bring-metamask-to-polkadot-for-the-first-time/?utm_source=rss&utm_medium=rss&utm_campaign=plasm-will-bring-metamask-to-polkadot-for-the-first-time https://defiye.com/2021/01/plasm-will-bring-metamask-to-polkadot-for-the-first-time/#respond Sat, 09 Jan 2021 12:51:04 +0000 https://defiye.com/?p=6097 Plasm Network, a popular decentralized application (dApp) from Polkadot, has announced that it will integrate MetaMask into the ecosystem soon. The project reveals that Ethereum users will have the ability to create their own Polkadot address from their existing ETH key. Plasm Network shared the news in a Twitter post on January 8. Is Polkadot on the brink of a vast expansion? According to one leading dApp, it seems that users will soon gain access to MetaMask. Moreover, they will also have the ability to create new Polkadot addresses using their existing MetaMask accounts. Thus, the integration would lead to higher adoption levels of Ethereum’s competing smart contract and dApp ecosystem. At the time of writing, Plasm did not yet reveal when the community can expect the integration to launch. Reacting to the announcement, we saw great delight from the community. The level of engagement on Plasm’s tweet indicates great interest in using MetaMask to interact with the Polkadot network. If we truly see more users adopt Polkadot or the DOT token because of the integration, it is possible for the smart contract ecosystem to truly rival Ethereum. Plasm Network represents a highly important part of the Polkadot protocol. It...

The post Plasm Will Bring MetaMask To Polkadot for the First Time appeared first on Defiye.

]]>
https://defiye.com/2021/01/plasm-will-bring-metamask-to-polkadot-for-the-first-time/feed/ 0
Andre Cronje: New Vaults Enable Traders To Use 90X Leverage https://defiye.com/2021/01/andre-cronje-new-vaults-enable-traders-to-use-90x-leverage/?utm_source=rss&utm_medium=rss&utm_campaign=andre-cronje-new-vaults-enable-traders-to-use-90x-leverage https://defiye.com/2021/01/andre-cronje-new-vaults-enable-traders-to-use-90x-leverage/#respond Sat, 09 Jan 2021 07:33:39 +0000 https://defiye.com/?p=6077 A series of new vaults coming from several platforms in Yearn Finance’s ecosystem enables traders to use up to 90x leverage, reveals Andre Cronje. The leading DeFi developer publicly shared that all existing vaults will become leveraged vaults and that users will be able to use cross-asset strategies. Furthermore, Cronje stated that everyone can interchangeably use assets stored on multiple vaults. Vaults are the most sought-after Decentralized Finance product in the Yearn Finance ecosystem. With upcoming changes being made to vaults Yearn’s creator Andre Cronje reveals one specific trading tool that vaults will have. Per his latest Twitter post, V2 vaults will feature leveraged trading with up to 90X leverage. Traders will be able to use 90X leverage on stablecoins and 80X leverage on Ethereum. This enables traders to either sell, compound, or accumulate assets. With more collateral coming to the Iron Bank, a vault on Cream V2, the Alpha V2 yield becomes more agnostic. Cronje also points out that after all of the new vaults have been launched, DeFi enthusiasts can farm assets with up to 90x leverage. These assets include famous DeFi tokens such as SUSHI, CRV, ALPHA, YFI, and PICKLE. Yearn Finance ecosystem thrives in bullish environment...

The post Andre Cronje: New Vaults Enable Traders To Use 90X Leverage appeared first on Defiye.

]]>
https://defiye.com/2021/01/andre-cronje-new-vaults-enable-traders-to-use-90x-leverage/feed/ 0
Yearn.finance (YFI) is Back in Business: +50% in the Trading Day https://defiye.com/2021/01/yearn-finance-yfi-is-back-in-business-50-in-the-trading-day/?utm_source=rss&utm_medium=rss&utm_campaign=yearn-finance-yfi-is-back-in-business-50-in-the-trading-day https://defiye.com/2021/01/yearn-finance-yfi-is-back-in-business-50-in-the-trading-day/#respond Fri, 08 Jan 2021 12:32:04 +0000 https://defiye.com/?p=6085 Depression, apathy and inaction. Back in late December, these words perfectly described the YFI market, which significantly differed from other markets. During this time, while UNI managed to grow by 40%, the YFI price moved within the range of 5% with high risks of falling to $15,000. However, the key price zone of $21,380-22,320 withstood the pressure and breathed new life into the token. On 3 December, buyers managed to break the local trend of sellers and completely deny the possibility of working out the figure “Head and Shoulders”. The range of $21,380-22,320 is under the full control of buyers After several sellers’ unsuccessful attempts to return the price to the range of $21,380-22,320 on 7 January, a new growth wave began, in the usual YFI style. In just one day, buyers managed to raise the price by 50%, breaking the range of $28,000-32,000. By setting a local high $37,185, buyers came significantly closer to the target we set in the previous article. Trading volumes during the YFI price growth momentum were identical to volumes during the growth period in November. The era of trading without volumes in the YFI market, which began in December, is behind us. YFI is...

The post Yearn.finance (YFI) is Back in Business: +50% in the Trading Day appeared first on Defiye.

]]>
https://defiye.com/2021/01/yearn-finance-yfi-is-back-in-business-50-in-the-trading-day/feed/ 0