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
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?
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dYdX is live on Layer Two
Dydx is now live on layer two. Powered by Starkware, it uses zk-rollup technology to enable up to 25x leverage.
Liquidity just launched, a protocol very similar to MakerDAO. There are some differences:
no stability fee
collateralization ratio is only 110%
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.
Bancor will now use 5% of the swap fees to burn BNT.
Force DAO hack
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 is now live on Polygon, which is awesome! Definitely read the full announcement!
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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.