- Tribal Finance
- Posts
- The DeFi Frontier July 17, 2023
Welcome to another edition of DeFi Frontier! This week, we're excited to discuss a bullish trajectory. Join us as we explore the world of NFTs for the first time since the inception of the DeFi Frontier, along with our regular coverage of DeFi, regulatory updates, and market sentiment. Let's dive in and get started!
CBOE + Coinbase ETF agreement 🔥
Here's the scoop on some exciting updates in the crypto and ETF scene! The Chicago Board Options Exchange (CBOE), a big player in the options game, and Coinbase, a top dog in the crypto world, are joining forces. Their goal? Making crypto more accessible to everyone and ramping up the dough in the market. The icing on the cake is they're ensuring everything stays legit, aligning with the ever-evolving dynamics of crypto regulation. CBOE isn't the only one getting in on the action. Other big players like Nasdaq are also teaming up with Coinbase. The endgame for all of them is to get regulated Bitcoin ETFs listed in the US. It's a thrilling time. Whether you're a solo investor or a big-league player, the world of crypto and ETFs just got a lot more interesting. Read More
NFTs on Bitcoin?! 🤔
Bitcoin NFTs are back, and they're hotter than ever! The daily inscriptions for Bitcoin Ordinals, the game-changing method of creating NFTs on the Bitcoin blockchain, have skyrocketed to a mind-blowing 350,000! That's a whopping 250% surge since the launch of the BRC-69 token standard. And here's the best part: inscription costs have been slashed by over 90%! Could it be time to put on our moon boots? This resurgence in Bitcoin NFT activity, especially in text-based inscriptions, may ignite a bullish run for NFTs. Read More
DeFi
First up, let's talk about Aave. The Aave community has been buzzing with discussions and voting on a proposal that could potentially convert a massive 1600 Ether into WSTETH and RETH. This proposal has significant implications for the DeFi protocol. Read more
Market sentiment
XRP wins against the SEC Lawsuit
Big news for Ripple Labs! They scored a victory in the U.S. District Court, Southern District of New York, as Judge Analisa Torres partially ruled in their favor. This case, dating back to 2020, involves the SEC's claim that Ripple's XRP token is a security. The verdict? Judge Torres said XRP isn't a security for programmatic sales on digital asset exchanges, but it is when sold to institutional investors.
This legal drama, going on since December 2020, stirred up some serious waves in the crypto community. After the ruling, XRP's price did a victory dance, jumping to 25% in just a few minutes. Clearly, this win has sent a buzz of excitement through the crypto community. Read More
The Dip, The Halving, and The Bullish Spark! Is Bitcoin primed for the next run?
Bitcoin has dropped nearly 15% from its yearly high, but it remains up 60% year-to-date and holding above $25,000. Several factors, including the upcoming Bitcoin halving in April 2024, BlackRock's ETF application, increasing Bitcoin dominance, and positive technical patterns, could signal the start of a new bull cycle for Bitcoin. Exciting times are ahead! Read More
Halving Hype and Bullish Insights: Unlocking the Secrets of Bitcoin's Future with Michael Saylor.
It's all about the Bitcoin halving and the bullish insights from MicroStrategy's CEO, Michael Saylor. Bitcoin halving events have historically sparked significant price rallies and new all-time highs. And with the next halving scheduled for April 2024, there's a lot of anticipation in the air. We'll also dive into Michael Saylor's perspective on Bitcoin's future and his predictions for the market. If you're curious about the potential implications of the halving and want to hear Michael Saylor's bullish take. Read More
💡Opinion
The crypto world has been buzzing this week, and the mood is bullish. Many of us are starting to feel like the compass is pointing north - could we be on the verge of a turnaround? There's a lot of chatter about a potential rally, and the storylines seem to be lining up in our favor. But what's really catching my attention is the growing clarity on the regulatory front - it feels like we're heading towards a more optimistic place.
Let's take the XRP case, for example. This legal showdown has potential repercussions that extend beyond Ripple Labs. The outcome could set the tone for how current and future projects lay out their business strategies. We must grasp the real soul of the web3 space and its ultimate mission - to drive forward this incredible technology. The vision? More transparency and fewer middlemen.
From my perspective, things seem to be lining up quite nicely. We're making strides in the right direction. Is it too early to predict that 2024 - 2025 could be the biggest bull market yet? Maybe. But if the stars continue to align as they are now, who knows what heights we might reach!
- Joey Stewart
DeFi Discovery Den - Learn about the different DeFi terms
1. Yield Farming Also known as liquidity mining, yield farming is a method by which users can earn returns on their cryptocurrency holdings by staking or lending their assets in a DeFi market.
2. Liquidity Pool This is a collection of funds locked in a smart contract. They are used to facilitate decentralized trading, lending, and many more functions. Liquidity providers (LPs) contribute assets to these pools and earn fees in return.
3. Automated Market Maker (AMM) Instead of a traditional order book, AMMs use a mathematical formula to set the price of a token. This formula can vary with different DeFi platforms, but it's typically based on the relative supply of two tokens in a liquidity pool.
4. Stablecoins These cryptocurrencies are pegged to a reserve of assets to stabilize their value. They can be pegged to a currency (like USD), a commodity (like gold), or even other cryptocurrencies. Stablecoins are integral to DeFi, as they provide a way to make less volatile transactions.
5. Flash Loans A flash loan is an uncollateralized loan option in DeFi where borrowing and repayment occur in the same transaction block. If the borrower cannot repay the loan within the same block, the transaction is reversed to prevent insolvency. It's often used for arbitrage and swapping collateral.