DeFi tokens equal to Bitcoin in terms of median yield since the beginning of the year
After a sharp rise in the summer, tokens from the decentralized finance (DeFi) space experienced a crash in September and are showing a recovery since the beginning of the month. As the analyst at Ceteris Paribus notes, at its peak, the median yield of the DeFi token, that is, the average in a row among all DeFi tokens, surpassed that of Bitcoin, but it turned out to be deep in the red zone in September-October. The latest jump has allowed DeFi tokens to rival bitcoin in terms of performance since the beginning of the year.
“While in November there is a confident recovery. Unlike in the summer, the median yield is now in line with BTC rather than surpassing it. This is after the median yield fell 60% in September-October, while Bitcoin rose from $ 11,600 to $ 13,800, ”the analyst notes.
The analysis included 40 assets, including Bitcoin, Ethereum and 38 DeFi tokens. 28 tokens from the list have shown an increase since the beginning of the year. The median return during this time was 148.8%, which is not much more than 133.3% of bitcoin. At the same time, in terms of average profitability, DeFi tokens significantly exceed Bitcoin with 428.7%.
This is due to several assets that have risen sharply in price since the beginning of the year. This is Aave (AAVE) with 4,245%, Band (BAND) with 2,466%, yearn. finance with 1,597% and THORChain (RUNE) with 1,203%. The most unsuccessful investments relative to the start of trading were Curve (CRV), SushiSwap (SUSHI) and Swerve (SWRV), which lost 80-90% of their value.
In general, the data provided by Ceteris Paribus indicate a decrease in volatility in the DeFi space. After a sharp jump in the summer and an equally sharp correction in September-October, DeFi tokens have been growing relatively moderately since the beginning of November.
After a sharp rise in the summer, tokens from the decentralized finance (DeFi) space experienced a crash in September and are showing a recovery since the beginning of the month. As the analyst at Ceteris Paribus notes, at its peak, the median yield of the DeFi token, that is, the average in a row among all DeFi tokens, surpassed that of Bitcoin, but it turned out to be deep in the red zone in September-October. The latest jump has allowed DeFi tokens to rival bitcoin in terms of performance since the beginning of the year.
“While in November there is a confident recovery. Unlike in the summer, the median yield is now in line with BTC rather than surpassing it. This is after the median yield fell 60% in September-October, while Bitcoin rose from $ 11,600 to $ 13,800, ”the analyst notes.
The analysis included 40 assets, including Bitcoin, Ethereum and 38 DeFi tokens. 28 tokens from the list have shown an increase since the beginning of the year. The median return during this time was 148.8%, which is not much more than 133.3% of bitcoin. At the same time, in terms of average profitability, DeFi tokens significantly exceed Bitcoin with 428.7%.
This is due to several assets that have risen sharply in price since the beginning of the year. This is Aave (AAVE) with 4,245%, Band (BAND) with 2,466%, yearn. finance with 1,597% and THORChain (RUNE) with 1,203%. The most unsuccessful investments relative to the start of trading were Curve (CRV), SushiSwap (SUSHI) and Swerve (SWRV), which lost 80-90% of their value.
In general, the data provided by Ceteris Paribus indicate a decrease in volatility in the DeFi space. After a sharp jump in the summer and an equally sharp correction in September-October, DeFi tokens have been growing relatively moderately since the beginning of November.
We waited for another upward wave in the MTC and got it, now the 3-year high is at ~ 19,000. There is no point in discussing the overheating of the market. Added to the new bearish factors was the fact that the dominance of bitcoin began to decline sharply, the liquidity flowed into altcoins. Exactly the same thing happened in December 2017 - January 2018, this was the final stage of great growth, which then took about 2 weeks. After it, an incredibly long and deep correction awaited us. It is unlikely that the well-oiled mechanism will be changed.
PayPal is behind the shortage of bitcoins in the market and the growth of the exchange rate - Pantera Capital
The addition of the ability to buy bitcoin to the service of the payment company PayPal has a significant impact on the price, according to the Pantera Capital crypto fund. Analysts have come to the conclusion that PayPal users are buying significant amounts of bitcoins, which leads to a shortage of their supply in the market and an increase in the rate.
“It is estimated that Square's Cash App is responsible for 40% of all Bitcoin issued. PayPal has just launched its service for buying cryptocurrency and is already having a huge impact on the market, ”the report says.
PayPal supports cryptocurrencies through the intermediary of stablecoin issuer Paxos and its regulated exchange itBit. Pantera Capital estimates that PayPal users are buying the equivalent of about 70% of all issued bitcoins.
“When PayPal launched, volumes took off. The increase in itBit volume suggests that within four weeks of launch, PayPal is already buying up almost 70% of all new Bitcoin supply, ”the authors add.
“The dashed horizontal line on the graph represents the total supply of newly issued bitcoins plus the original itBit volume. If this growth continues, PayPal alone will start buying more bitcoins than it is issued within a few weeks. "
Thus, it follows from the study that the clients of only two companies completely withdraw from circulation all bitcoins issued by miners every day.
“Where will Cash App customers get their coins from? Here it is necessary to remember the limitations and inflexibility of the proposal. They will buy them at higher prices, ”the authors of the report expect.
Pantera Capital also notes that it is much easier to buy bitcoin now than it was in 2017, and the wider distribution leads to an increase in the likelihood of maintaining stability at high price levels.
Earlier, the analytical company Chainalysis linked the rise in the price of bitcoin to the actions of institutional investors. Note that itBit provides services to just such investors. It could also be one of the factors behind its recent growth in trading volumes.
The addition of the ability to buy bitcoin to the service of the payment company PayPal has a significant impact on the price, according to the Pantera Capital crypto fund. Analysts have come to the conclusion that PayPal users are buying significant amounts of bitcoins, which leads to a shortage of their supply in the market and an increase in the rate.
“It is estimated that Square's Cash App is responsible for 40% of all Bitcoin issued. PayPal has just launched its service for buying cryptocurrency and is already having a huge impact on the market, ”the report says.
PayPal supports cryptocurrencies through the intermediary of stablecoin issuer Paxos and its regulated exchange itBit. Pantera Capital estimates that PayPal users are buying the equivalent of about 70% of all issued bitcoins.
“When PayPal launched, volumes took off. The increase in itBit volume suggests that within four weeks of launch, PayPal is already buying up almost 70% of all new Bitcoin supply, ”the authors add.
“The dashed horizontal line on the graph represents the total supply of newly issued bitcoins plus the original itBit volume. If this growth continues, PayPal alone will start buying more bitcoins than it is issued within a few weeks. "
Thus, it follows from the study that the clients of only two companies completely withdraw from circulation all bitcoins issued by miners every day.
“Where will Cash App customers get their coins from? Here it is necessary to remember the limitations and inflexibility of the proposal. They will buy them at higher prices, ”the authors of the report expect.
Pantera Capital also notes that it is much easier to buy bitcoin now than it was in 2017, and the wider distribution leads to an increase in the likelihood of maintaining stability at high price levels.
Earlier, the analytical company Chainalysis linked the rise in the price of bitcoin to the actions of institutional investors. Note that itBit provides services to just such investors. It could also be one of the factors behind its recent growth in trading volumes.
MARKET BUYING THIS GEM - $NWC
NWC strongly bounced of their parabola and touched ATH! We are currently at pergect buy zone as the coin retests the support zone.
They have big fundamental news as they just announced a new crypto game! It will be a part of their upcoming app which laucnhed on december 5th.
I expect the $NWC to go to atleast 20x when the APP is realeased.
Do not miss this one!
NWC strongly bounced of their parabola and touched ATH! We are currently at pergect buy zone as the coin retests the support zone.
They have big fundamental news as they just announced a new crypto game! It will be a part of their upcoming app which laucnhed on december 5th.
I expect the $NWC to go to atleast 20x when the APP is realeased.
Do not miss this one!
Sopra Steria: "losses from the Ryuk virus attack will amount to 40-50 million euros"
Sopra Steria: “losses from the Ryuk virus attack will amount to 40-50 million euros” In October, the information infrastructure of the French IT giant Sopra Steria was attacked by the Ryuk ransomware virus. Now representatives of the company are talking about losses in the amount of 40-50 million euros.
Sopra Steria has 46,000 employees and provides a wide range of information technology services in 25 countries. On October 21, the Ryuk ransomware virus entered the information infrastructure of Sopra Steria, and it was a new version of a malicious program.
The attack was blocked by the company's IT team, but it still affected some of the company's services. Although company and customer data remained safe, the attack caused significant losses for Sopra Steria. The company said in a statement:
> “The remediation and unavailability of various systems from October 21st will have a serious negative impact on operating profit. The costs associated with the Ryuk virus attack will be between 40 and 50 million euros. The group's insurance coverage for incidents related to the risks of cyber attacks is up to € 30 million. ”
As a reminder, the Ryuk ransomware virus appeared back in 2018, and in 2019 it became widespread in China.
Sopra Steria: “losses from the Ryuk virus attack will amount to 40-50 million euros” In October, the information infrastructure of the French IT giant Sopra Steria was attacked by the Ryuk ransomware virus. Now representatives of the company are talking about losses in the amount of 40-50 million euros.
Sopra Steria has 46,000 employees and provides a wide range of information technology services in 25 countries. On October 21, the Ryuk ransomware virus entered the information infrastructure of Sopra Steria, and it was a new version of a malicious program.
The attack was blocked by the company's IT team, but it still affected some of the company's services. Although company and customer data remained safe, the attack caused significant losses for Sopra Steria. The company said in a statement:
> “The remediation and unavailability of various systems from October 21st will have a serious negative impact on operating profit. The costs associated with the Ryuk virus attack will be between 40 and 50 million euros. The group's insurance coverage for incidents related to the risks of cyber attacks is up to € 30 million. ”
As a reminder, the Ryuk ransomware virus appeared back in 2018, and in 2019 it became widespread in China.
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Animated bitcoin flow model
Everyone will talk about it 🧐
▪️ Bitcoin rose 42% in November and closed above its all-time high. The last step is to go through $ 20,000 to return to the front pages of the media.
▪️ Brent oil is more expensive than $ 47 and may gain a foothold at this level if OPEC + continues to create a deficit in the market. The organization does not hide the contradictions, but assures that they are not as big as they were in March.
▪️ Gold is increasingly remembered as those who bought it in 1980 were waiting for the return of their investments until 2007, and this is without taking inflation into account. Will vaccinations and Fed money finally end the 2020 gold rush?
▪️ Bitcoin rose 42% in November and closed above its all-time high. The last step is to go through $ 20,000 to return to the front pages of the media.
▪️ Brent oil is more expensive than $ 47 and may gain a foothold at this level if OPEC + continues to create a deficit in the market. The organization does not hide the contradictions, but assures that they are not as big as they were in March.
▪️ Gold is increasingly remembered as those who bought it in 1980 were waiting for the return of their investments until 2007, and this is without taking inflation into account. Will vaccinations and Fed money finally end the 2020 gold rush?
Mt.Gox wallets hold 137,891 BTC
This is evidenced by the data of the analytical service CryptoQuant. By the way, the transfer of payments to victims after the hacking of Mt. Gox was scheduled for December 15th. Perhaps they will transfer it this time, but just in case it is worth being on the alert. It is possible that the correction of the last few days is due to the expectation of this date.
This is evidenced by the data of the analytical service CryptoQuant. By the way, the transfer of payments to victims after the hacking of Mt. Gox was scheduled for December 15th. Perhaps they will transfer it this time, but just in case it is worth being on the alert. It is possible that the correction of the last few days is due to the expectation of this date.
Tomorrow comes the deadline for accepting applications from affected clients of the Mt. Gox. If this deadline is not rescheduled again, then the stage of returning about 140 thousand BTC (~ $ 2.7 billion) will begin. This will be a serious blow to the market, but as in the situation with Tether, it can drag on indefinitely.
🚀Bitcoin has renewed its all-time high today, reaching a value of $ 20,865. Now technically nothing is holding us back
Top 5 scams in the Bitcoin world
With the spread of blockchain and Bitcoin, also scams have begun to emerge, as criminals exploit this asset to orchestrate various deceptions and induce victims to hand over their private keys, for example.
There are many different types of scams in the Bitcoin world. In order to be careful and make users more and more aware, here is a list to recognize them.
The 5 most common scams related to the Bitcoin world
Email extortion
The first category relates to extortion by e-mail: criminals send e-mails to victims, sharing confidential information about them, usually an e-mail and password.
The criminal then pretends to be in possession of personal information or images, asking for a ransom in Bitcoin so as not to spread the material.
A popular variant of this email is called sextorsion, in which the criminal reveals to the victim that he has sexually compromising images and videos and asks for a ransom in Bitcoin.
What to do in the case of sextortion?
Once you have received a message like this, simply trash it before opening the content because there could also be harmful links inside it that could lead to some bad site or virus.
These threats are only fake and criminals are not really in possession of compromising images. Basically it’s just a bluff to obtain bitcoin.
The fake exchange scams
Another category of scams concerns fake exchanges which appear to have the same functions as the original ones. The victim has not the slightest doubt about the reliability of the same, since everything works normally and without suspicion.
Usually, the victim is lured into this exchange through social messages such as Discord, Instagram and similar, and is then invited to register. The procedure is very simple, requesting only email and password.
Unfortunately, once the funds are sent to these exchanges, the victim discovers that they cannot withdraw them in any way. Often these portals give reasons for account verification and prompt the user to submit and pass the KYC (Know Your Customer). We have discovered over 140 of these sites.
How to defend against fake exchanges?
The first thing to do is to delete the message of these fake exchanges and never enter your credentials into these types of platforms, otherwise criminals will have a database of emails linked to real people.
With the spread of blockchain and Bitcoin, also scams have begun to emerge, as criminals exploit this asset to orchestrate various deceptions and induce victims to hand over their private keys, for example.
There are many different types of scams in the Bitcoin world. In order to be careful and make users more and more aware, here is a list to recognize them.
The 5 most common scams related to the Bitcoin world
Email extortion
The first category relates to extortion by e-mail: criminals send e-mails to victims, sharing confidential information about them, usually an e-mail and password.
The criminal then pretends to be in possession of personal information or images, asking for a ransom in Bitcoin so as not to spread the material.
A popular variant of this email is called sextorsion, in which the criminal reveals to the victim that he has sexually compromising images and videos and asks for a ransom in Bitcoin.
What to do in the case of sextortion?
Once you have received a message like this, simply trash it before opening the content because there could also be harmful links inside it that could lead to some bad site or virus.
These threats are only fake and criminals are not really in possession of compromising images. Basically it’s just a bluff to obtain bitcoin.
The fake exchange scams
Another category of scams concerns fake exchanges which appear to have the same functions as the original ones. The victim has not the slightest doubt about the reliability of the same, since everything works normally and without suspicion.
Usually, the victim is lured into this exchange through social messages such as Discord, Instagram and similar, and is then invited to register. The procedure is very simple, requesting only email and password.
Unfortunately, once the funds are sent to these exchanges, the victim discovers that they cannot withdraw them in any way. Often these portals give reasons for account verification and prompt the user to submit and pass the KYC (Know Your Customer). We have discovered over 140 of these sites.
How to defend against fake exchanges?
The first thing to do is to delete the message of these fake exchanges and never enter your credentials into these types of platforms, otherwise criminals will have a database of emails linked to real people.
Bitcoin giveaway scams
Even gifts, such as giveaways, do not escape scams as criminals exploit names of famous people or news related to important projects, claiming to be giving cryptocurrencies to all those who will participate.
The scam is very simple: an article is written with some information about the person or a recent event that actually happened and then a website is built where the whole page is completely false and structured in such a way as to invite the user to send their crypto.
The modus operandi of these scams is to succeed in convincing the victim to send their crypto by means of a proven claim, i.e. to double their funds by simply sending a specific crypto to a specific address.
But of course this will not happen and you will lose your crypto.
Considering that we are talking about crypto and blockchain it is quite easy to unmask fake transactions, so in these cases simply take the criminal’s address and analyze it in a block explorer to check all the transactions and whether they match the web page.
Phishing
One of the scams that unfortunately spreads and is very successful is phishing, a technique that aims to make the victim believe that they are interacting with the official platform of a service so that they can enter their credentials.
In this case, the criminals use fake platforms to recover victims’ e-mails and passwords, as happened in the recent case involving Ledger.
The victim receives an email inviting them to enter or update their device. Usually, this email contains a link that leads to a copy of the website, in which without the victim’s knowledge the victim enters the credentials and hands them over to the criminals.
How to defend oneself against phishing?
First of all, it is necessary to check and compare the sender of the email with the original ones and in case of discrepancies, it is better to delete the received email. It is important to never click on any link within the email itself because not only can it lead to a misleading page, but it can even contain a virus that will hide in our pc.
Ransomware
Finally, a frequent occurrence this year has been the phenomenon of ransomware, i.e. being forced to pay a ransom, usually in Bitcoin, to restore the systems of a company or, worse, a public administration.
The phenomenon is certainly on the rise, as the data report, and this pandemic has done nothing but increase this possibility since everyone is at home and does not have adequate knowledge of the measures to be taken to protect themselves from their homes.
The problem increasingly involves large companies, as in the case of the Argentinean telephone company. All it takes is opening an infected file within the company network to infect all the PCs in the entire company without being able to do anything.
In this case, the ransomware starts to encrypt all the files on the PCs, preventing access to them.
The only way to get them back is to have the file encryption key to unlock them.
And this is where the criminals offer the solution, inviting the victims to pay the ransom.
How to defend oneself against ransomware?
The first defence is to use preventive and always up-to-date tools such as antivirus, especially those specialized in identifying these threats.
Another recommendation is not to open suspicious attachments and as a last protection is to have an up-to-date backup system.
Even gifts, such as giveaways, do not escape scams as criminals exploit names of famous people or news related to important projects, claiming to be giving cryptocurrencies to all those who will participate.
The scam is very simple: an article is written with some information about the person or a recent event that actually happened and then a website is built where the whole page is completely false and structured in such a way as to invite the user to send their crypto.
The modus operandi of these scams is to succeed in convincing the victim to send their crypto by means of a proven claim, i.e. to double their funds by simply sending a specific crypto to a specific address.
But of course this will not happen and you will lose your crypto.
Considering that we are talking about crypto and blockchain it is quite easy to unmask fake transactions, so in these cases simply take the criminal’s address and analyze it in a block explorer to check all the transactions and whether they match the web page.
Phishing
One of the scams that unfortunately spreads and is very successful is phishing, a technique that aims to make the victim believe that they are interacting with the official platform of a service so that they can enter their credentials.
In this case, the criminals use fake platforms to recover victims’ e-mails and passwords, as happened in the recent case involving Ledger.
The victim receives an email inviting them to enter or update their device. Usually, this email contains a link that leads to a copy of the website, in which without the victim’s knowledge the victim enters the credentials and hands them over to the criminals.
How to defend oneself against phishing?
First of all, it is necessary to check and compare the sender of the email with the original ones and in case of discrepancies, it is better to delete the received email. It is important to never click on any link within the email itself because not only can it lead to a misleading page, but it can even contain a virus that will hide in our pc.
Ransomware
Finally, a frequent occurrence this year has been the phenomenon of ransomware, i.e. being forced to pay a ransom, usually in Bitcoin, to restore the systems of a company or, worse, a public administration.
The phenomenon is certainly on the rise, as the data report, and this pandemic has done nothing but increase this possibility since everyone is at home and does not have adequate knowledge of the measures to be taken to protect themselves from their homes.
The problem increasingly involves large companies, as in the case of the Argentinean telephone company. All it takes is opening an infected file within the company network to infect all the PCs in the entire company without being able to do anything.
In this case, the ransomware starts to encrypt all the files on the PCs, preventing access to them.
The only way to get them back is to have the file encryption key to unlock them.
And this is where the criminals offer the solution, inviting the victims to pay the ransom.
How to defend oneself against ransomware?
The first defence is to use preventive and always up-to-date tools such as antivirus, especially those specialized in identifying these threats.
Another recommendation is not to open suspicious attachments and as a last protection is to have an up-to-date backup system.