This week in Defi, a debate emerged on the question of whether the growing adoption of the participants in Wall Street could lead to the first prolonged “supercycle” of the crypto market, which leads to digital asset assessments beyond the historic time of the four-year cycle.
As the main blockchain of the intelligent contract, the native token of Ethereum d’Ether (ETH) could be ready to benefit from “Wall Street which presents itself in the blockchain”, according to Bitmin, the biggest ETH business holder.
Despite the optimistic prediction, Ether’s price dropped by 13% during last week, lowering below $ 4,000 for the first time since August 8, according to Cointelegraph data.
In the wider market of cryptocurrencies, the hyperliquid (hype) token (hype) token will distribute around $ 11.9 billion in media over 24 months for the team, which could be the “first real test” for the resilience of the token, said Co-Co-Fondeur Arthur Hayes on Monday.
In what he nicknamed a moment of “the sword of damocles”, he will introduce around $ 500 million in monthly unlocking, of which only 17% will be absorbed by redemptions, leaving around $ 410 million overhanging potential tenders, according to the researcher from Maelstrom Lukas Ruppert.
The “0x316F” whale wallets withdrew $ 122 million from media tokens on Monday, shortly after Maelstrom’s warning of incoming sales pressure.
Ethereum Bulls praised Supercycle; Wall Street is skeptical
The cryptocurrency market can know its first prolonged cycle due to more institutional capital and commercial products in the web3 industry, which makes investments in digital assets more accessible.
Certain investors predict a cryptographic “supercycle” which can invalidate the theory of the four -year cryptography market cycle linked to the reduction of half of the reduction by half of Bitcoin (BTC), and see the assessments of digital assets exceed this historic period.
For the second largest cryptocurrency in the world, ether, supercycle can be catalyzed by the growing adoption of Wall Street blockchain technology, according to Bitmin Immersion Technologies, the largest corporate ether holder in the world.
Ether’s first main pilot can be “Wall Street running in the blockchain”, according to Bitmin.
Despite optimism around a potential supercycle, not all participants in Wall Street are optimistic about Ether’s prices trajectory.
US Investment Bank Citigroup has set an end -of -year price target of $ 4,300 for Ether, which is significantly lower than $ 4,953 ETH on August 24.
“Current prices are higher than activity estimates, potentially motivated by recent purchase pressure and excitement in relation to use cases,” Citi wrote in a note Monday seen by Reuters.
Ether has increased by around 108% in the last six months and was negotiated at $ 4,177 at the time of the editorial staff, showed tradingView data.
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Circle explores “reversible” USDC transactions in break in ethical cryptography
Circle, the second stablecoin issuer in the world, would examine reversible transactions to help recover funds against fraud and hacks, which seems to counter one of the founding principles of crypto: that transactions are final and out of centralized control.
The president of Circle, Heath Tarbert, told Financial Times Thursday that the company examined mechanisms which could allow transactions to be fell in the event of fraud or hacking, while maintaining the purpose of the regulations.
“We are thinking about (…) whether or not there is the possibility of reversibility of transactions, on the right, but at the same time, we want the purpose of the regulations,” Tarbert at FT told. “There is therefore an inherent tension between being able to transfer something immediately, but having it irrevocable (…).”
Confrontation with cryptography
Supporters of reversibility argue that he could help defraud the victims and strengthen the dominant confidence in the Stablecoins. However, the idea calls into question the decentralized model that underlies the crypto, where transactions are permanent and sheltered from unilateral changes by transmitters or validators.
Cointelegraph asked Circle comments on the details of the reversibility of transactions and the parameters that would be used to decide on reversals.
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Vitalik calls for open source infrastructure in health, finance, governance
The co-founder of Ethereum, Vitalik Buterin, called for open-source and verifiable infrastructure in the critical sectors, in particular health care, finance and governance, warning that centralized systems are likely to erode confidence and security.
In a blog article on Wednesday, Buterin argued that as digital infrastructure becomes integrated into daily life, based on closed systems, opaque systems increase the danger of abuse and monopolization.
“The civilizations that have drawn the most new waves of technology are not those that have consumed technology, but those that have produced it,” wrote Buterin, adding that “openness and verifiability can fight against global balkanization.”
Buterin said he is considering a world where verifiable devices form the backbone of global systems. “By default, we will probably get digital computer things that are built and managed by centralized companies,” he warned. “But we can try to head for a better alternative.”
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Blackrock bringing $ 260 million in Bitcoin, Ether annual income
The funds (ETF) based on exchanges based on BlackRock cryptocurrency have become a machine-generating machine, generating $ 260 million in income for the largest asset manager in the world, signaling a “reference” model for traditional investment funds looking for lucrative commercial models.
The FNB Bitcoin and Ether from Blackrock generates $ 260 million in annualized income, including $ 218 million from Bitcoin ETF and $ 42 million from Ether products, according to data shared Tuesday by Leon Waidmann, head of research at the ONCHAIN non -profit foundation.
The profitability of ETF focused on BlackRock crypto-coquilles can lead to more investment giants of the traditional finance space (tradfi) to launch regulated commercial products based on cryptocurrencies, with the cryptographic ETF of BlackRock serving as “reference” for traditional institutions and pension funds, said Waidmann.
“It is no longer experimentation. The largest asset manager in the world has proven that crypto is a serious profit center. It is a company of a quarter of a billion dollars, almost built overnight. As a comparison, many unicorns fintechs do not do this in a decade. ”
Waidmann compared the ETFs to Amazon, who started with books before getting everything. He said that ETFs are the “point of entry into the world of cryptography”.
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Aster leads Perr Dex Surge at $ 70 billion in trading volume per day
Perpetual negotiation volumes on decentralized scholarships (DEX) reached a summit of $ 70 billion on Thursday, led by Aster, a new derived platform on the BNB channel.
Perpetual Dex jumped to record volumes over three consecutive days while decentralized perpetual activity heated. On Tuesday, the overall volume of Perp Dex reached $ 52 billion, followed by $ 67 billion on Wednesday.
The volume exceeded $ 70 billion on Thursday, highlighting a renewed momentum in the decentralized finance markets (DEFI).
Aster exceeded the classification with nearly $ 36 billion in a negotiation volume 24 hours a day, which represented more than 50% of the total Dex Perr activity on Thursday. The platform exceeded rivals like Hyperliquid and Light, both recording volumes of more than $ 10 billion.
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Presentation of the DEFI market
According to Cointelegraph Markets Pro and TradingView data, most of the 100 largest cryptocurrencies by market capitalization ended the week in green.
The Story token (IP) fell by more than 30% to mark the biggest drop of the week in the Top 100, followed by the same launchpad pump.fun’s (Pump) token, down more than 29% on the weekly graphic.
Thank you for reading our summary of the most impactful DEFI developments this week. Join us next Friday for more stories, information and education concerning this dynamically advanced space.
