Week’s Top Gainer – Bora Rises by 262%
BORA (BORA) was this week’s top gainer with 262% increase in value to reach $ 0.025, over the last week. It is a decentralized entertainment platform that distributes digital content and rewards participants. The token is traded on a limited number of exchanges and cause of price rise couldn’t be determined with certainty. Though. BORA has a lot of developments planned for the year 2020 and some of them have already been executed.
DeFi Still At 1B, bZx Protocol Exploit Didn’t Cause Much Damage
Despite the two protocol exploits at bZx, Decentralized Finance (DeFi) has maintained the $ 1.07B psychological mark. The current Maker DAO dominance is at over 57%, which is the leading DeFi protocol. In the beginning days of last week, the DeFi total value locked (TVL) was at $ 1.20B, but has since then taken a breather. The attack on bZx protocol despite harmful, proved the resilience and recovery potential of the greater DeFi market. The market didn’t react negatively much to the event.
Warren Buffet Dismisses Cryptocurrencies
Renowned investor Warren Buffet was quick to repeat his earlier stances, during a CNBC TV interview that cryptocurrencies have no value, since they don’t produce anything. He further said that he hasn’t owned any crypto-assets and he never will. It appears that Mr Buffet’s highly publicized lunch with Justin Sun, for which the Tron founder spent $ 4.57M in a charity auction, failed to change the mindset of the world’s top investor regarding cryptocurrencies.
OKEx Introduces 19 New Crypto-Assets On The Platform
Cryptocurrency exchange OKEx announced that 19 crypto-assets will be made available for trading on the platform. This include Cardano (ADA), Algorand (ALGO), Cosmos (ATOM), Bytom (BTM), BitTorrent (BTT), aelf (ELF), HyperCash (HC), IOST (IOST), IOTA (MIOTA), ChainLink (LINK), OKB (OKB), OmiseGO (OMG), Ontology (ONT), v.systems (VSYS), Stellar (XLM), Monero (XMR), Tezos (XTZ), Zcash (ZEC) and Ziliqa (ZIL).
#GIVEAWAY🎁: To celebrate the launch of 19 🆕 assets on the #OKEx spot #margin trading market, we’ve partnered with the selected projects for you to grab a total of 57,000 $USDT bonus 💰
Simply borrow & trade* with us to join ⬇️https://t.co/KIQHJ4j44u pic.twitter.com/UznkLsK6tj— OKEx (@OKEx) February 20, 2020
Degens.com Crosses $150K DAI In Weekly Volume
The Ethereum betting platform Degens.com announced in a Twitter post that they have crossed $150K DAI in weekly volume. Further they added that its a proven and profitable business model.
https://t.co/HEKqTha0NO had $150k in $DAI volume last week. The protocol collects an industry low 0.5% fee on all winning bets. The commission contract has collected $3,500 in fees since launching in October. This is a proven profitable biz model running on Ethereum 🦍🏀⚽️🏈🤝— Degens.com (@DegensBet) February 24, 2020
Tim Draper Predicts $ 250,000 Bitcoin Price
Prominent crypto analyst and founder of several projects Tim Draper predicts in CNBC that Bitcoin price will rise to a massive $ 250,000 by 2022 or 2023.
“I’m still holding to my prediction that bitcoin by the start of 2023 will hit $250,000. I believe that it will be the currency of choice.” – @TimDraper pic.twitter.com/1dqSHW54pO— Blockfolio (@blockfolio) February 24, 2020
Avanti Financial Group Announces The Launch Of Avanti Bank In Collaboration With Blockstream
Avanti Financial Group announced the launch of Avanti bank to serve digital assets industry, in a partnership with Blockstream. The bank will launch in 2021 and will particularly serve institutional customers.
1/ INTRODUCING AVANTI BANK, a new US #bank to serve #digitalasset industry, offering new products & svcs not currently available in USD mkts along w/ tech partner @Blockstream. #Wyoming-based. We’re preparing long process of charter application & aim to open early 2021. @AvantiBT pic.twitter.com/fpnN6qBBhW— Caitlin Long 🔑 (@CaitlinLong_) February 24, 2020
Bancor And 1inch Added To Pillar Wallet Crypto Engine
Pillar added Bancor and 1inch to its cryptocurrency wallet, digital exchange and payment service. The pillar platform is powered by PLR tokens.
Skynet Solves A Major Problem: Siacoin’s Manasi Vora
Siacoin team member Manasi Vora commented about the recently launched Skynet network that it solves a major problem in the decentralized platforms by allowing people to deploy images and videos easily.
“Commonly shared things on social media are images and videos, which have been historically difficult for decentralized platforms to support.
Skynet gives developers easy to use infrastructure that solves some of the hardest problems of decentralized social media.” https://t.co/F4bRJBc9yw— Manasi Vora (@manasilvora) February 24, 2020