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🚀 This Coin just Overtook Bitcoin Cash as the 5th Highest Market Cap Coin 🚀
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🚀 This Coin just Overtook Bitcoin Cash as the 5th Highest Market Cap Coin 🚀
Hello Geckos!
(Editor: Did anyone notice Bitfinex going down? I was too busy Yam farming) So, what is the intersection between decentralized permissionless blockchain technology and... Paris Hilton? Cryptograph.
Apparently the Hollywood celebrity has drawn a picture of her cat to be encrypted as an NFT to be sold, of which the proceeds will be donated to various chairites to benefit Covid-19 relief efforts.
This is not Ms. Hilton's first foray into the cryptospace, nor is she the first celebrity to endorse Cryptograph.
(Editor: Is this a prelude to crypto NFT going mainstream?)
In other news on the "blockchain not crypto" front, up to 1 Million South Korean now have blockchain powered driving license, using an app on their smartphone.
The legally recognised ID solution can also be used for identification and proof-of-age requirements, they'd only have pull out their phones to flash a QR code. Flashy!
Today we talk about The Flippening, Uniswap taking over the DeFi space, and a short-lived governance experiment named after a "perennial herbaceous tuber"
Hope you find today's newsletter useful to you! | | |
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| Chainlink Overtakes Bitcoin Cash as 5th Top coin by Market CapThe recent price surge of Chainlink (LINK) has allowed it to claim the top-five spot in terms of market cap, showing no signs of slowing down. LINK has seen its price surge in 2020, having started from a low of $1.76 at the start of the year, to reaching a high of $17.44 at the time of writing. Many attribute the meteoric rise of Chainlink price to the recent spat with dubious "fund" claiming to short the token with a 99% target. (Editor: Any Link Marines here? Cashing out to riding it all the way?)
Decrypt
| | Uniswap Volumes hits All-time High, Surpasses $1.76 BillionTrading volumes at Uniswap have hit an all-time high, with $1.76 billion of trading volume throughout the month of August so far. Over the past 24 hours, Uniswap reported over $227 million in trading volume.
The spectacular volume on Uniswap comes even as Ethereum transaction fees continue to climb to new highs.
CoinDesk
| | YAM's Market Cap Falls From $60M to Zero in 35 Minutes
Having only launched Tuesday, YAM was a yield farming protocol where tokens were intended to keep parity with the U.S. dollar through loosening or contracting supply, called rebasing.
Ahead of its rebasing later today, developers found out the smart contract code was flawed, prompting a governance vote to fix the smart contract.
However, another bug was found what would make the fix attempt futile, co-founder Brock Elmore pronounced the project dead at 08:01 UTC today.
The project have already announced a plan to migrate to YAM 2.0.
(Editor: Was fun while it lasted, what's next?) Decrypt | |
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| UTC TimeUTC-time is the time standard used to internationally denote time. In the context of the cryptocurrency industry, due to its decentralized nature, companies and consumers are located all over the world each using different time zones. Using a standardized timing makes it less possible for cause confusion. Learn about other Crypto terms here | | | |
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