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Preston Byrne: Ethereum-Collateralized MakerDao Stablecoin DAI Is Collapsing

According to Preston Byrne MakerDao’s stablecoin that is collateralized with Ethereum cryptocurrency, is about to collapse. In a series of tweets, Byrne explained his reasons saying that the peg for Dai has been on a downward trend for the last couple of months and his allegations that the stablecoin was ‘a bunch of twaddle’ was […]
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MakerDAO Freshly Mints $1 Million DAI Tokens and May Triple Before the Year Ends

The Ethereum blockchain is currently seeing some very large loans as recently, the MakerDAO’s fifth-largest loan position has reportedly minted a fresh batch of one million new DAI tokens. The loan is worth $996,216 with a meager charge of 73 cents. Less than a month ago, towards the end of June, there was another occurrence […]
Bitcoin Exchange Guide

MakerDAO Announces Multi Collateral DAI Issuances

In a positive move for DeFi and the MakerDAO community, users will soon be able to collateralize six ERC-20 tokens, apart from ETH. As per a blog post by the team, there will be a vote in the last week of July to decide the prioritize the order in which the six tokens will beRead MoreRead More. The post by Ashwath Balakrishnan appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News\
BTC Manager

On-chain activity under the microscope: dYdX origination volume second only to MakerDAO, SOPR metric suggests bull market

MakerDAO Stability Fee hike proposal fails to pass Executive Vote stage Last week’s MakerDAO Stability Fee hike proposal failed to pass the Executive Vote process, with just 3,732.82 MKR staked towards increasing the Stability Fee by 1% versus 44,474.72 MKR staked towards maintaining the status quo of 16.5%.  Source: The rejection of a proposal at the Executive Vote stage is historically highly unusual. The MakerDAO voting process was designed to be a formality rather than a decision making process itself: the hope is that MakerDAO stakeholders can come to consensus over social media and governance calls, leaving the vote itself as a merely technical procedure. Join Genesis now and continue reading, On-chain activity under the microscope: dYdX origination volume second only to MakerDAO, SOPR metric suggests bull market!
The Block Crypto
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Why Do We Need to Wrap Bitcoin?

BitGo, Kyber Network, MakerDAO, IDEX and many other crypto companies partnered to create a Bitcoin-backed Ethereum token, Wrapped Bitcoin. This token will represent BTC, 1 token equal to 1 BTC stored in the custody of BitGo. It could be used to trade BTC on DEXes, the whole administration will be via DAO, similar to Maker system

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Reminder: Bakkt is Launching Bitcoin Futures in the Coming Day

Bakkt is Finally Here That’s right, Bakkt is finally here. After months upon months of deliberation, hype, and odd regulatory setbacks, the cryptocurrency venture that has been backed by the New York Stock Exchange, Microsoft, and Starbucks is launching. Starting Monday, July 22nd, the exchange will be testing physically delivered Bitcoin futures, which will be one of the first product of its kind to be regulated in U.S. markets. It is currently unclear who will be testing the product, or in which way the contract and custody solution will be tested. But, this development marks a huge step in the right direction for the cryptocurrency market. Bakkt confirmed the launch date for its testing period at a recent summit that was held in the New York Stock Exchange, whose chief executive is wed to the head of Bakkt. Per first-hand recounts of those in attendance, the cryptocurrency startup has also confirmed that it will be fully launching its Bitcoin futures product by the end of Q3, should nothing go wrong during testing of course. A Catalyst for Bitcoin & Crypto Growth In a recent Fundstrat Global Advisors research note posted to Twitter, Sam Doctor of the market research firm explained his thoughts on the conference. Citing the buzz being emanated by the over 150 investors and institutions in attendance, Doctor argues that there is “institutional anticipation” for the exchange’s Bitcoin futures. He expounded: “As we have written before, Bakkt tackles many of the barriers to adoption for traditional investors seeking to expand their mandate to include crypto.” Doctor adds that “appears to be a critical mass of adopters ready to come on board on Day 1 of the Bakkt launch”, noting that the firm’s sales team is starting to ramp up discussions with everyone from brokers and market makers. He thus confirms that should the hype translate into actual investment, the long-expected launch of the Bitcoin product, which will give many institutions their first taste of so-called “physical” BTC, could be a “huge” catalyst for the growth of this already budding market. Institutions Are Buzzing Per Placeholder’s Chris Burniske, the venture capitalist author of industry primer “Crypto Asset”, the overall feel of the room was rather bullish. He wrote the following, making the case that Wall Street has its eye on the cryptocurrency space once again. All in all, the @Bakkt event signals great things for #bitcoin and #crypto at large, even if I did miss some of the funk of OG days.— Chris Burniske (@cburniske) July 18, 2019 Title Image Courtesy of Samson Creative Via Unsplash The post Reminder: Bakkt is Launching Bitcoin Futures in the Coming Day appeared first on Ethereum World News.
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