Embrace Corrections - CRYPTO FRIDAY


Hey DEFI TIMES community!

It’s finally happening. After a parabolic bull run, where Bitcoin almost hit its all-time high, we had a deep dump to $16,000. If you’ve been around in 2016, you experienced a similar pattern before. 

After Bitcoin reached a new all-time high of $1130 in January 2017, many people panicked and exited. If you want to prepare for the future, it is always good to study the past. I believe we are currently witnessing similar market conditions we saw in early 2017, except that this time is different. More money is entering the space, Bitcoin is established among the global elite, and there are better instruments for institutions to enter the market.

This time, the bull market will be more prominent. And even though we see price levels similar to December 2017, prices are way cheaper. 

So when you see prices dump like during the last few days, don’t be scared. You will see -20% corrections way more frequently in the near future (if you dare to stay). Especially if you are new to the industry, you need to change your mindset because the crypto markets can be ruthless.

If you think about selling everything now, think again. Most of the time, you make bad investment decisions when you experience extreme fear or greed. 

Lean back, grab some popcorn and watch the show as we are entering 2017 again.

That’s it for today’s short thought-piece. As always, you can read on for the most important news last week. If you are not interested in this, see you all on Sunday!


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ETH 2.0 reaches staking minimum

It’s official! ETH can go live by December 1st. Who would have thought this was possible one week ago?

At least 524,288 ETH were required for the ETH 2.0 mainnet to go live by December 1st. Validators overshot the target by slightly over 40%, with the majority of deposits happening during the last few days. 

Nascent

There is a new DeFi-oriented fund, called Nascent. Among the partners are Dan Elitzer, Josh Felker, and Sid Ramesh from Dharma.

Deriswap

Deriswap is a new protocol, developed by Andre Cronje. Currently, it is audited and will be launched soon. It will be a hybrid protocol of spot, lending, and derivate products.

“Deriswap allows for a consolidated, capital efficient market for trading, Options, Futures, and Loans, allowing LPs to keep their exposure and enjoy additional fees and rewards.”

YFI Options

Andre Cronje recently has shared the UI of a new feature of the Yearn protocol. Users will be able to hedge against impermanent loss for various token pairs. This allows for new “delta neutral” yield farming strategies that weren’t possible before.

Andre Cronje just doesn’t stop delivering. He is definitely one of the most valuable developers and action takers in the DeFi ecosystem.


All information presented above is meant for informational purposes only and should not be treated as financial, legal, or tax advice. This article's content solely reflects the opinion of the writer, who is not a financial advisor.

Do your own research before you purchase cryptocurrencies. Any cryptocurrency can go down in value. Holding cryptocurrencies is risky.


Some recent tweets