Digest. DeFi, Fiat, Whales, and Other News |

Digest. DeFi, Fiat, Whales, and Other News

We stay on top of all the news from the world of blockchain and cryptocurrencies. Want to know the most interesting ones? Let's get started! 

Decentralized Finance 

It took only 3 months for the DeFi industry to increase the number of users by 1 million. So now around 3 million people are using the DeFi services. 

The volume of crypto assets locked in staking by users of various DeFi projects increased to $144 billion in June 2021, which is 22% more than in May 2021 ($117 billion). 

The correction of the crypto market encourages holders not only to preserve their assets, but also to find an opportunity to get compensation for losses caused by exchange rate fluctuations. Staking is one of the most popular ways to earn additional bonuses in the form of passive income. 

Ethereum and Binance are some of the most well-known projects that allow you to earn coins via staking. However, their staking services do not scale: an increase in the number of users leads to a decrease in the amount of reward. 

On the EDC Blockchain platform, everyone can take part in the staking service and receive a daily bonus, which is credited to participants depending on the amount of their funds locked in staking. The EDC Blockchain staking service allows owners of even small amounts to receive bonuses, while members with larger locked amounts receive more rewards. At the same time, your bonus does not change even with an increase in the number of EDC coin users. 

Fiat money inflation 

One of the world's leading professional American football players, Saquon Barkley (New York Giants) has decided to accept rewards  in cryptocurrencies (in particular, bitcoins) for his advertising, marketing and endorsement activities. 

Saquon's annual income exceeds $10 million, and his decision to receive money in cryptocurrency is explained by the salvation of his capital from the devastating effects of inflation. Statistics show that more successful users in the crypto market are those who hold their coins longer and do not give in to panic selling. 

Big business 

Despite the decline in the value of bitcoins and other cryptocurrencies amid all sorts of bans and restrictions imposed by various states and financial institutions, the leading bitcoin holders (or whales) have practically restored their reserves to the same level as before the historical wave of selling. 

As you can see in the graph below, which shows the dynamics of changes in wallets containing from 1,000 to 10,000 BTC, the whales used to have so many bitcoins only when the world's main cryptocurrency BTC was worth $57,000- $58,000.

A house for cryptocurrency? 

If the purchasing power of traditional money has long been tracked using the "big mac index" (ie how much a Big Mac costs in a given country in dollar terms), then now that cryptographic technologies are being introduced in the world of finance, there is a median showing, how many bitcoins you need to pay to buy a house. 

The US real estate market is booming, so the median has risen to 12 due to the fall in cryptocurrency quotes. It means that you now need about 12 bitcoins to buy a house. If this price seems unacceptable to users, the best option is to hold their coins until the median reaches 1. 

Double standards 

There has been a turning point in the US lawsuit, which has been waged by the Ripple platform and the SEC for many months. The SEC has long had complaints about XRP, which boil down to the fact that the coin has all the security features, not a token. 

Despite the claims of the state regulator, Ripple seems to have found a way out: it turned out that William Hinman, the prosecution, had previously worked in one of the SEC departments and had already participated in the consideration of similar claims against Ethereum. Did he come to exactly the opposite conclusions now? 

Now Mr. Hinman will have to appear in court again to substantiate the arguments that led him to draw such different conclusions. Many experts expect Ripple to face double standards in this matter, which their lawyers will probably be able to prove in court. 

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EDC Blockchain never calls for investment activity. The materials presented on the site are for informational purposes only.