🗞 Daily Crypto News, May, 12th💰

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Welcome to the Daily Crypto News: A complete News Review, Coin Calendar and Analysis. Enjoy!

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🗞 Market Wrap: Yearn, EOS Rise Over 30% While Ether and Bitcoin Eke Out Small Gains

Decentralized finance (DeFi) tokens yearn.finance and eos climbed by over a third in spot price Tuesday. Ether and bitcoin were in slightly higher.

  • Yearn.finance (YFI) trading around $78,849 as of 21:00 UTC (4 p.m. ET). Gaining 48% over the previous 24 hours.
  • Eos (EOS) trading around $12.82 as of 21:00 UTC (4 p.m. ET). Gaining 36.6% over the previous 24 hours.
  • Ether (ETH) trading around $4,068 as of 21:00 UTC (4 p.m. ET). Gaining 0.66% over the previous 24 hours.

Rich Rosenblum, co-founder of crypto market maker GSR, told CoinDesk the jump in YFI, which is a lending and yield service where users can park crypto to make gains, comes from its ease of use.

“It’s been the Tesla of self-driving investment management,” Rosenblum said. He also compared yearn.finance’s founder, Andre Cronje, to Tesla CEO Elon Musk. However, Rosenblum had a caveat: “Crypto moves a lot faster than autos, and others are hot on the trail.”

As for eos, Rosenblum pointed to eos creator Block.One’s $10 billion funding to build a new exchange infrastructure subsidiary, called Bullish Global. Eos is a developer platform for DeFi, a rival to Ethereum.

Ether volumes a bit higher than BTC, again

“We will be sensitive to any overbought downturns, noting that April’s breakout point is 50% below current levels,” she added. According to CoinDesk 20 data, ether’s price closed at $1,968 on April 1.

Bitcoin in a $6,000 range the past two weeks

🗞 46 Million Americans Now Own Bitcoin, as Crypto Goes Mainstream

About 46 million Americans now own at least a share of Bitcoin—that equals about 17% of the adult population. And some of those people are looking to integrate the cryptocurrency into their personal financial plans—including their life insurance.

In a survey conducted by the New York Digital Investment Group (NYDIG), about 75% of the respondents said they wanted to learn more about Bitcoin annuities and Bitcoin life insurance.

The survey found great interest in Bitcoin. About half the respondents said they want to receive some or all of their insurance benefits in Bitcoin, NYDIG's survey found. Nearly 90% said they had some interest in insurance or annuity products that have at least some indirect link to Bitcoin.

The survey included a national sample of 1,050 U.S. consumers with an annual income of at least $50,000.

🗞 EOS Up 46% as Block.one Invests $10 Billion in Exchange

  • The new exchange starts with a pile of cash, Bitcoin, and EOS.
  • The starting capital is not far from the size of EOS's market capitalization.

To start a centralized cryptocurrency exchange, you need a lot of liquidity to enable trades and attract buyers and sellers.

The gross domestic product of a small country ought to do it.

Block.one, the software firm behind the EOSIO blockchain platform, has pulled together $10 billion to get Bullish Global off the ground. Block.one supplied 164,000 Bitcoin ($9.25 billion), 20 million EOS tokens ($250 million), and $100 million in cash, while also raising $300 million in strategic funding.

The serious outlay of funds by Block.one may be a necessity to remain relevant. According to a June 2020 report from Outlier Ventures, EOS lost 85% of its developer pool over the course of a year as its Github code updates evaporated to just 6% of the previous year's level.

🗞 Uniswap flips Bitcoin on daily revenue... and it’s more impressive than you think

Jason Yanowitz challenged him to do so and provided the updated picture.

Uniswap has surpassed Bitcoin in terms of daily fee generation for two days in a row.

The fee flippening was observed by crypto industry blogger Evan Van Ness citing figures from CryptoFees, a website that compares the daily fees generated by the top blockchain networks.

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“Uniswap v2 LP fees finally passed Bitcoin network fees on the 7-day average. Would be even higher if [cryptofees] tracked v3,”

🗞 Daily Crypto Calendar, May, 12th💰

  • DSLA Protocol (DSLA)

"DSLA Protocol and the DSLA.Network flagship application are coming to Polygon / Matic, the Ethereum L2 scaling network."

  • Student Coin (STC)

"Student Coin will be listed on KuCoin! LISTING DATE: MAY 12, 2021 - 11:00 UTC."
"Student Coin (STC) Will Be Trading on Bitcoin.com Exchange. Trading Pairs : STC/USDT, STC/BTC, STC/ETH."

  • Swipe (SXP)

"The first fully on-chain #SwipeSwap #Ignition IWO / #IDO sale will be for a new project that is aiming to change #NFT management..."

  • MoonToken (MOONTOKEN)

"MoonToken's AMA live on Wednesday, May 12th at 08 :00 PM UTC."

  • SingularityNET (AGI)

"Today We Would Like to Formally Clarify How Our Loyal AGI Token Holding Community Can Receive Community Dedicated Airdropped SDAO Tokens."

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2 comments
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It's nice to see EOS finally trying to do something. They've seriously dropped the ball when it comes to getting Dapp developers. EOS had the chance to be king of DeFi with zero fee Tx.

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I trusted them and actually enjoyed a lot of the EOS DeFI but nobody cares about it in the Crypto World.

There were also a lot of scams/shady projects.

Indeed, but I moved my EOS 3 hours before the Pump... I was mad with EOS reaching 13.5$ haha but at least the thing I bought pumped also quite hard so it's okay I guess.

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