Simone Raatz

The Yearn.Finance project seems to be consolidating. The community voted on several key changes to the protocol, and the YFI price has exploded in recent days.

YFI explodes amid changes for Yearn.Finance

The YFI price explosion is not simply due to the Bitcoin bull run (BTC) , which recently surpassed $ 16,000. The Yearn.Finance protocol seems to be consolidating, after spending several months in the headlines thanks to the very significant volatility of its YFI asset.

Recently, Yearn.Finance users voted to pass a key proposal: YIP-54. The latter clarifies the means that Yearn.Finance can fund itself , by allowing community members to audit protocol spending on a quarterly basis. This “Operation Fund” will also have an influence on the price of the YFI. It may indeed buy back YFI or other assets if it considers it necessary. The measure was 99% approved.

Other changes for Yearn.Finance include YIP-52, which increased the rewards for Yearn.Finance smart contract managers. The latter develop strategies for the “vaults” of the protocol. The project has also shown that it wants to be monitored more effectively: the YIP-53 has enabled the launch of the yAcademy , which aims to audit Yearn.Finance contracts .

YFI price targets $ 20,000 again

All of this has therefore helped to support the progress of the YFI, the governance token of Yearn.Finance. It must be said that it was showing signs of weakness so far: it touched $ 7,300 a few days ago, after competing with the price of Bitcoin (BTC) during the summer.

But the YFI has now started a bull run: it has exploded over the last ten days and this morning exceeds 18,000 dollars. In less than a week, he took + 163% :

He has since moderated his ardor slightly: from 19,350 dollars, it has come down to 18,430 dollars this morning. He is now tackling a crucial level: that of $ 20,000. It has not reached this threshold since the beginning of October, because it had plummeted for a month and a half . However, the YFI stood out for its extreme volatility during its short months of existence. It is therefore not guaranteed that it will maintain these levels.

In den letzten 24 Stunden hat Bitcoin darum gekämpft, den Widerstand bei 13.600 USD zu brechen. Die Bullen haben die Widerstandszonen dreimal erneut getestet, ohne sie zu brechen.

BTC / USD schwankt zwischen 13.060 USD und 13.600 USD

Nach einem erfolglosen Versuch, den Widerstand von 13.800 USD zu brechen, wurde die Königsmünze auf Schwankungen zwischen 13.060 USD und 13.600 USD beschränkt. In den letzten 48 Stunden wurden Käufer beim Widerstand von 13.600 USD dreimal zurückgewiesen. Die Münze fällt nach jedem Widerstand in den unteren Bereich. Trotzdem wird die Konsolidierung zwischen 13.060 und 13.600 US-Dollar fortgesetzt, so dass Bitcoin einen starken Ausbruch hat, der den Preis antreibt, um den Widerstand von 13.600 US-Dollar zu brechen. Auf die gleiche Weise wird sich die Dynamik ausdehnen, um den Widerstand bei 13.800 USD zu brechen.

Sobald der Widerstand von 13.800 USD durchbrochen ist, wird BTC über das Hoch von 14.000 USD steigen. Auf der Oberseite muss BTC die Widerstände von 13.600 USD und 13.800 USD hier beseitigen, um die Aufwärtsdynamik fortzusetzen. In den letzten fünf Tagen wurde der Aufwärtstrend durch die jüngsten Widerstandsniveaus gestört. Auf der anderen Seite wird es eine bärische Reaktion geben, wenn die Bullen die Widerstände von 13.600 USD und 13.800 USD nicht brechen. Die Bären werden den Vorteil nutzen, um die Unterstützung von 13.060 USD zu brechen. Dies wird dazu führen, dass der Preis auf 12.900 USD und das Tief von 12.000 USD fällt.

Wrapped Bitcoin (WBTC) ist jetzt das sechstgrößte Token von Ethereum

Wrapped Bitcoin (WBTC) hat eine Marktkapitalisierung von 1,58 Milliarden US-Dollar. Diese Zahl macht 80% der gesamten in Ethereum gehaltenen BTC aus. Auch in Bezug auf die Marktkapitalisierung und die Anzahl der Token hat es ein Allzeithoch erreicht. Es wird berichtet, dass WBTC die am meisten akzeptierte Version von Bitcoin für die Verwendung im Ethereum-Netzwerk ist. Derzeit hat es eine Rekordsumme von 116.885 WBTC, unterstützt durch eine gleiche Anzahl von BTC, die von Depotbanken gehalten werden. Heute ist WBTC nach Crypto.com Coin (CRO), USD Coin (USDC), Chainlink (LINK), BNB (BNB) und Tether USD (USDT) das sechstgrößte Token von Ethereum nach Marktkapitalisierung.

Wyoming-based digital asset bank Avanti will become the second Bitcoin bank in the United States. In a press release on October 28 , the bank, of which Caitlin Long is founder, announced that it had received permission to store digital assets and tokenized US dollars.

Avanti as the second Bitcoin bank in the USA

As a reminder, Avanti was first announced in February. The Digital Asset Bank was founded by Caitlin Long. We have reported several times on Long and her leadership role in blockchain and crypto issues in US law.

Avanti Bank has now received approval from the Wyoming State Banking Board. Specifically, this means that the bank receives the sovereign permission for the safekeeping of digital assets and tokenized USD.

Therefore, the second One Bitcoin a Day Bank in the USA is now planning to offer several services related to cryptocurrencies. There should be a kind of “online banking” and various depository services for cryptocurrencies. A separate stablecoin with the name AVIT is also planned.

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Bridge between the traditional financial system and crypto

As already mentioned, Avanti will offer its own token. According to its own statements, the stablecoin AVIT should become a “disruptor” that sets new standards. The company plans to choose Ethereum as a blockchain for the introduction of the stablecoin.

Company founder Caitlin Long herself has high expectations of the services of her bank and wants to make cryptocurrencies accessible to millions of US citizens. So she said:

Avanti intends to connect the traditional and digital financial systems by offering services that are not currently available anywhere else.

As an example, she cited the direct processing of dollar transactions for digital assets. Currently, only special custody providers are allowed to offer this service in the USA.

We can thus state the following: After Kraken, Avanti is now the second Bitcoin bank in the USA. The regulatory advances clearly show that the traditional financial sector is increasingly interested in cryptocurrencies and digital assets.

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Bitcoin has seen a strong rally over the past week – even after news that OKEx has blocked withdrawals.

The coin is trading for $ 13,050 at the time of writing, which is just below the weekly highs.

Analysts assume that Crypto Bank will continue to move higher in the coming days.

Bitcoin is expected to continue to move higher

Bitcoin has seen a strong surge in the past week, moving from the $ 11,500 area to the $ 13,000 area. The coin is currently being traded for $ 13,150, which is slightly below the weekly and annual highs.

Analysts believe Bitcoin will continue its rise in the coming days.

A crypto asset analyst shared the chart below on October 24th. It shows that BTC’s most recent price action looks very similar to that in May this year and the price action in early August.

This fractal comparison suggests that Bitcoin is likely to experience a temporary surge in price towards $ 14,000 in the coming days and then fall back to pre-rally levels.

The analyst behind this observation is the one who predicted Bitcoin would fall to $ 9,755 by the end of August. The cryptocurrency followed the path the analyst predicted almost perfectly, but the correction stopped in the $ 9,800 area.

According to analysts, Bitcoin’s fundamentals emphasize that the coin will continue to move higher in the coming days and weeks

For one, advances are being made on the front line of US tax incentives. A new stimulus package is likely to drive the price of the US dollar down and thus the hedging transactions for Bitcoin and other currencies up.

Raoul Pal, CEO of Real Vision, comments on the macroeconomic aspect of monetary and financial policy as follows:

“Most people don’t understand the latter, but to put it simply, Powell has shown that there is ZERO tolerance to deflation, so they will do whatever they can to stop it, and that’s good for the two toughest investments – gold and Bitcoin. Powell WANTS inflation. I don’t think he will get any real demand push inflation, but he will get a fiat devaluation, in conjunction with the other central banks that are all on the same mission. “

With PayPal now also supporting crypto assets, analysts are confident that there will be an influx of investments in Bitcoin over time. The cryptocurrency is also expected to benefit from news that corporate treasuries are buying bitcoin.

Bitcoin y la mayor parte del mercado pierden importantes trozos de valor, mientras que Polkadot continúa con su aumento y basa su posición dentro de los 10 primeros por capitalización de mercado.

El mercado de criptodólares ha perdido 20.000 millones de dólares por su capitalización de mercado, ya que la mayoría de los criptos en números rojos en las últimas 24 horas. El mínimo semanal actual de Bitcoin es de 11.100 dólares, mientras que Ethereum alcanzó el objetivo de 370 dólares como predijo CryptoPotato.

La gigantesca cadena de bloques, Polkadot, está cotizando alrededor de 5,40 dólares después de que el símbolo DOT fuera añadido a las principales bolsas a principios de esta semana a un precio de 3 dólares. DOT está registrando un fantástico retorno de la inversión de más del 80% en los últimos cuatro días de negociación. Polkadot es ahora el 7º proyecto más grande por capitalización de mercado, según CoinGecko. La razón de la emoción de DOT podría ser la próxima división de 1:100.
Bitcoin pierde 700 dólares diarios

Tras unos días de estancamiento de la acción de los precios, la criptocracia primaria dio un paso decisivo en las últimas 24 horas. El precio de Bitcoin Profit pasó de su máximo diario de aproximadamente 11.800 dólares a su mínimo de 11.100 dólares en sólo unas horas.

Aunque BTC se recuperó del mínimo diario y ahora operando por debajo del soporte de 11.400 dólares se convirtió en resistencia, el activo sigue bajando más de un 2% desde ayer. A mayor escala, Bitcoin ha perdido más de 1.000 dólares desde que alcanzó su nuevo máximo anual de 12.450 dólares hace una semana.

Curiosamente, el soporte de 11.100 dólares, que actualmente parece salvar a BTC de más pérdidas, también rescató el activo durante la caída del 11 de agosto. Sin embargo, si la criptografía se rompe por debajo de ella, BTC probablemente tendrá que depender de la línea psicológica de 11.000 dólares, antes de caer potencialmente al anterior máximo de 2020 de 10.500 dólares.
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PolkaDot (DOT) añade un 40% diario mientras Bitcoin disfruta de un fin de semana tranquilo (Market Watch)
Vigilancia del mercado: El precio de Bitcoin busca superar los 11.800 dólares, los ojos del etéreo una vez más los 400 dólares

Altcoins se desangra al bajar la cabeza de Bitcoin (Market Watch)

Según la compañía de análisis de datos Santiment, la caída de Bitcoin puede no ser una sorpresa. Explorando la disminución de las direcciones activas diarias, la firma concluyó que el “-3,7% del precio de BTC estaba seguramente relacionado con la disminución del -19,3% de esta métrica desde su pico de 1,13 millones de direcciones activas el 6 de agosto”.

Como sucede frecuentemente últimamente, Bitcoin y el oro presentan un rendimiento de precios correlativo. El metal precioso también ha bajado en las últimas 24 horas: Desde su máximo intradía de 1.940 dólares por onza, su posición actual es inferior a 1.920 dólares.

Altcoins se desangró con algunas excepciones

Bitcoin también arrastró la mayoría de las monedas alternativas, con la totalidad del tope del mercado pasando de 370.000 millones de dólares a 350.000 millones.

Ethereum no pudo mantener su posición por encima de los 400 dólares durante mucho tiempo, y el segundo mayor activo digital se redujo a 370 dólares antes de recuperar su rebote. El rebote ha bajado un 3% a menos de 0,28 dólares. Chainlink (-3%) a 14,5 dólares, Bitcoin Cash (-4%) a 275 dólares, Litecoin (-5%) a 58 dólares, BitcoinSV (-4%) a 195 dólares, y el descenso del 8% de Cardano ha sacado a ADA del top 10.

Los perdedores más sustanciales provienen de alts de baja capitalización con Flexacoin (-15%) a la cabeza, seguido de Nervos Network (-10%), Verge (-9%), Ocean Protocol (-9%), y OMG Network (-9%).
Aunque la mayor parte del mercado está en rojo, hay algunas excepciones – Kusama está 32% arriba, Aragón (16%), El Oro Midas Touch (13%), Aave (12%), y OKB (9%).