Will Q2 be Bitcoin Season? - CRYPTO FRIDAY

Apr 9, 2021

Hey DEFI TIMES community,

Q1 was an Altcoin season, for sure. Especially in February, we saw tremendous growth in all kinds of DeFi and NFT related projects.

Of course, you all know that crypto moves in cycles:

1) Bitcoin seasons

2) Altcoins seasons

Source: Altcoin Season Index (https://www.blockchaincenter.net/altcoin-season-index/)

According to the Altcoin Season Index, we are at the peak of this altcoins season. Now, many people ask themselves whether or not this altseason will continue throughout Q2.

Well, it could - but there’s also a good probability that we will see a reversal of this trend, back to a Bitcoin season. As crypto moves in cycles, there is a good chance that we could see more and more attention moving to Bitcoin in Q2.

Think about it: Bitcoin has been lagging attention since February. There was no major news story involving a large company putting Bitcoin on its balance sheet since Tesla announced their Bitcoin purchase. I expect that to change very soon - maybe in Q2?

History suggests that exactly this will happen. How long can this altcoin season last? It could go on until May or June.

But eventually… it will come to an end…!

Bitcoin season will come. Are you prepared?

Subscribe to our newsletter to level up your crypto game!

dYdX is live on Layer Two

dYdX @dydxprotocol

It's finally time. Our Layer 2 cross-margined Perpetuals are available to the public on mainnet Ethereum, powered by @StarkWareLtd and settled in $USDC. Read the announcement, and start trading here ↓

dydx.exchangeTrade now on Layer 2After testing & improving our Layer 2 system with our community over the last few weeks, it is now live in production featuring zero gas costs, lower trading fees & small minimum trade sizes.

Dydx is now live on layer two. Powered by Starkware, it uses zk-rollup technology to enable up to 25x leverage.

Liquidity Launch

Liquity @LiquityProtocol

Liquity is now live on Ethereum mainnet! 🚀 Users can start borrowing $LUSD interest-free against their ETH, earn $LQTY rewards, and stake $LQTY to earn protocol fees using any of the available frontends. Full announcement here: medium.com/liquity/liquit…

medium.comLiquity Goes Live on Ethereum MainnetAfter a year and a half of research and development, we are proud to announce that Liquity has been deployed to Ethereum mainnet and is now live! Liquity is a decentralized borrowing protocol that…

Liquidity just launched, a protocol very similar to MakerDAO. There are some differences:

no stability fee
collateralization ratio is only 110%

Kyber DMM

Kyber Network @KyberNetwork

After months of research, we're excited to unveil the mainnet beta of Kyber Dynamic Market Maker (DMM) protocol! 🚀dmm.exchange is a next-gen AMM designed to optimise fees and enable extremely high capital efficiency for liquidity providers. blog.kyber.network/kyber-dmm-beta…

Kyber just came out with their Dynamic Market Maker (DMM), which has some features very similar to Uniswap v3: Better capital efficiency, customizable price curves, flexible fees, and more.

vBNT burner

Bancor @Bancor

🔥 The Bancor Vortex $vBNT burner is LIVE 🔥 As of today, 5% of all swap fees on Bancor will be used to buy & burn vBNT! 🔒 Burned $vBNT = $BNT locked in Bancor forever ⚡️ As swap volume rises, burning accelerates, increasing TVL & reducing the circulating supply of $BNT 👇

Bancor will now use 5% of the swap fees to burn BNT.

Force DAO hack

Igor Igamberdiev @FrankResearcher

1/5 How can Defi live without new hacks, right? The new victim is ForceDAO, who didn’t provide the necessary checks in a contract code. Anyone could call the function “making a deposit” even without having FORCE. However, the received xFORCE could be used to obtain real FORCE.

Almost ten million dollars worth of tokens has been exploited by a white hat hacker. The hacker returned the money afterward. But a portion of the funds was also taken away by two black hat hackers who did not return funds.

AAVE on Polygon

Aave @AaveAave

Aave will be implementing the first wave of exploring new scalability frontiers with @0xPolygon Read more:

medium.comExploring New Frontiers with AaveDuring the summer of 2020, DeFi matured, developed, and defined its product-market fit. Now, it’s time for the Aave Protocol to enter the scalability phase and bring decentralised finance back into…

AAVE is now live on Polygon, which is awesome! Definitely read the full announcement!

Find us on:

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.