Highlighting what went right, and what went wrong, in this week’s crypto news analysis.
Looking back at last week’s biggest news, including price analyses for BTC, ETH, and XRP.
Grayscale announced its biggest single fundraising week to date after launching a TV campaign on American national TV, taking in $217 million.
In altcoin news, Chainlink (LINK) doubled in value to become the fifth largest cryptocurrency in the world by market cap – overtaking Bitcoin Cash.
Finally, the latest in weird DeFi news came to us in the form of the YAM token, an unaudited experiment that rose to glory but shattered within 48 hours. Within hours of YAM launching, the platform accrued over $400 million. Then the token’s value fell from roughly $60 million to zero when a bug was discovered in the code.
Below is our weekly roundup of industry and coin specific news. If you’d like to get in touch with us about any of our products or services, we look forward to hearing from you. Just send us a note.
According to metrics site Coin Gecko, the total market cap of DeFi is now $15 billion.The huge rise is down to the prominence of Chainlink – responsible for 49.2% of DeFi’s market cap. To put this increase into perspective, DeFi hit $1 billion in May this year.
The total value of outstanding Ethereum futures contracts reached a new high of $1.5 billion. This was spurred by ETH’s price finally breaking above $400.
On Wednesday, we launched our brand new podcast series, Coppercasts. In episode one we speak to Charlie Morris, famed author of the Fleet Street Letter as well as founder and CIO of ByteTree.com.
In episode two, which is also now live, we are joined by investigative journalist Geoff White.
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