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Altcoins rally as analyst warns Bitcoin is in the ‘$50K – $60K twilight zone’

Ether, MKR and SOL rally to new all-time highs, while Bitcoin's price is stuck in what one analyst says is a range dominated by bots. Bitcoin (BTC) price is still stuck in what traders hope will be a short-term downtrend as the impact of the April 18 rumors of a crackdown on “unnamed financial institutions” for facilitating money laundering using cryptocurrencies have yet to be shaken off.  Data from Cointelegraph Markets and TradingView shows that since being pummeled below the $51,000 level on April 18, the price of BTC has been trading in a range between $52,500 and $57,500 and establishing…

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MakerDAO moves to expand collateral assets and upgrade liquidation engine

The new liquidation engine has been designed to offer Maker’s users greater predictability and security. Decentralized lending and stablecoin protocol MakerDAO has opened governance voting to allow new tokens as collateral. A number of new collateral types have been proposed for MakerDAO, potentially increasing the number of digital assets that can now be used to mint its stablecoin, DAI. Voting began on April 19 and will run for fourteen days. Seven tokens have been suggested as collateral for the Maker, including Moss Carbon Credit (MCO2), Rocket Pool’s staked Ethereum (rETH), the 1inch decentralized exchange token (1INCH), and the BadgerDAO Sett…

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MakerDAO Governance Votes on Activation of the Liquidations System 2.0 Upgrade

DeFi lending and stablecoin protocol MarkerDAO has revealed that its liquidations 2.0 upgrade executive vote is now live. The upgrade to the platform’s liquidations system, if ratified, should improve system efficiency and help safeguard Dai’s stability. As per MarkerDao’s official blog post published on April 19, the proposal will implement Maker Improvement Proposal 45 (MIP45) Read More

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MakerDAO Governance Votes on Activation of the Liquidations System 2.0 Upgrade

DeFi lending and stablecoin protocol MarkerDAO has revealed that its liquidations 2.0 upgrade executive vote is now live. The upgrade to the platform’s liquidations system, if ratified, should improve system efficiency and help safeguard Dai’s stability. As per MarkerDao’s official blog post published on April 19, the proposal will implement Maker Improvement Proposal 45 (MIP45) Read More

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Citibank Demystifies MakerDAO and DeFi for Fund Managers 

In the latest issue of Citibank’s Global Perspective and Solutions (Citi GPS) entitled Future of Money: Crypto, CBDCs and 21st Century Cash, the bank points its searchlight on MakerDAO (MKR) and the importance of decentralized finance (DeFi). Citibank is selling off its retail banking service in 12 countries and it appears the bank is looking Read More

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Shift toward full decentralization pushes Maker (MKR) price above $4K

Maker price rallies to a new all-time high as the MakerDAO community makes preparations to become fully decentralized. Stablecoins have become a significant foundational piece for the cryptocurrency sector because they serve as a deeply liquid base pair for most assets and also offer investors a secure place to capture gains. Data also shows that stablecoins play a significant role in functioning as a gateway for capital inflow to the crypto ecosystem. While the largest stablecoins in the market are currently controlled and issued by centralized entities like Tether or Circle, DAI and its issuer Maker (MKR) is one stablecoin…

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Dogecoin (DOGE) and Maker (MKR) soar as the altcoin market cap tops $1T

Dogecoin and Maker stole the spotlight as the hype around COIN faded and Bitcoin consolidates near $63,500. Now that the Coinbase (COIN) stock listing is out of the way, the focus of traders has shifted back to the crypto market as Bitcoin (BTC) price works to regain its footing above $63,000 and altcoins move higher. After reaching a new all-time high near $65,000, BTC price dipped below $62,000 before finding a bit of momentum in the range which one fund manager called a “great opportunity to buy.” Data from Cointelegraph Markets and TradingView shows that Bitcoin has steadily climbed higher…

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DeFi needs regulatory clarity to interface with ‘real-world’ finance, experts say

Decentralized finance protocols and regulatory agencies need to figure out DeFi regulations to enable the niche crypto market to integrate with real-world finance. Rune Christensen, co-founder of DeFi bluechip MakerDAO, says the decentralized finance space is set to move from its current isolated bubble phase towards more integration with the broader financial landscape. Christensen made this known during Tuesday’s plenary session “Behind the Decentralized Finance Hype” at the ongoing Global Technology Governance Summit organized by the World Economic Forum. According to the MakerDAO chief, DeFi protocols interacting with real-world assets like commercial real estate and trade financing will require significant…

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Stablecoin Supply Doubles in 3 Months as Combined Market Cap Surpasses $20B

2020 has been the year of stablecoins, as the token supply has doubled in the last three months. The aggregate market capitalization of 28 stablecoins captures over $20 billion on October 4, 2020. While tether still dominates the stablecoin ranks, USDC has been moving closer toward the top ten crypto coins. USDC is also the only stablecoin with market capitalization greater than $1 billion other than tether. This year quite a bit of money has flown into the stablecoin economy and just recently all the stablecoin tokens in existence captured a $20 billion market valuation. This means all the fiat-pegged…

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These stablecoins define 2020 performance

Even though Tether [USDT] had been the popular choice among cryptocurrencies with a large fraction of supply share, other stablecoins have all been witnessing growing prominence. Among these was Dai, created via the Maker Dao stablecoin system and USDC. Although the use of Dai was mainly limited to the Defi ecosystem it has been witnessing […] The post These stablecoins define 2020 performance appeared first on AMBCrypto.

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Maker (MKR) Surges 7% as Stability Fees Introduced, DeFi Regains Footing

While decentralized finance (DeFi) has seen a strong surge in 2020, Maker (MKR), a token strongly tied to DeFi, has underperformed. The cryptocurrency, relative to its competitors, is underperforming; where Aave’s LEND and Synthetix’s Synthetix Network Token surged hundreds of percent in this year alone, MKR only saw a 20-30% move higher. The market may be changing its mind on MKR, though. The coin is up 7% in the past 24 hours and seems poised to see further growth as the fundamentals of the underlying MakerDAO protocol align in favor of growth. Related Reading: MicroStrategy’s Stock Continues to Soar After Bitcoin…

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MakerDAO’s $30M “Black Thursday” Lawsuit Has Been Sent To Arbitration

In the class-action lawsuit against MakerDAO, accusing the group of misrepresenting the risks that were associated with its DAI stablecoin, a small lull occurred. This lull is due to the case being stayed due to pending arbitration proceedings. Arbitration Proceedings Scheduled Judge Maxine Chesney has agreed with the Maker Ecosystem Growth Foundation in regards to this class-action lawsuit first needing to enter arbitration proceedings. This lawsuit is in regards to its “Black Thursday” crash, where the entire crypto industry halved itself in value, and DAO collapsed in on itself. The Maker Foundation had filed this motion in order to compel…

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Crypto hedge funds and mining regulations: Bad crypto news of the week

Check out this week’s Bad Crypto podcast. It’s been a difficult week for Bitcoin this week. The price has fallen about 5 percent over the last seven days to drop beneath $10,400. It could bounce but if it continues downwards, it might drop below $10,000 and get dangerously close to the CME gap. One sign that the price might fall further has been a decline in the number of Bitcoin addresses holding a single Bitcoin. They’ve reached a four-month low. But Tyler Winklevoss still thinks that Bitcoin is better than gold, and  Microstrategy CEO Michael Saylor has moved from bear…

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How many DeFi projects still have ‘God Mode’ admin keys? More than you think

The vast majority of DeFi projects still have the ability to enter ‘God Mode’ and unilaterally make changes to pretty much everything. Twelve out of 15 of the most popular decentralized finance protocols still have access to a ‘God Mode’ admin key, according to data on review platform DeFi Watch. These full-access controls allow developers to modify or replace the smart contracts underpinning their projects, including making adjustments to user balances. While admin keys have been justified as a way to protect users’ funds and are often used with security features such as timelocks and multi-sigs, analysts argue this calls…

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