cryptovaley

The growth in the number of Bitcoin  whales  is slowing, according to  crypto  metrics site Glassnode. In a “The Week On-Chain”  report , published today, Glassnode showed how the growth of the  number of  Bitcoin  entities—clusters of addresses that Glassnode assumes are controlled by the same person or organization—holding more than 1,000 Bitcoin ($11 million) slowed down all throughout September. Things were going well all year for whales—entities holding more than 1,000 Bitcoin has “has been growing consistently, showing trends similar to 2012 and 2014-15,” said Glassnode in its report. But things turned sour these deep-pocket Bitcoin holders in September, when growth slipped. The last time the number of Bitcoin whales has steadily decreased was in the last quarter of 2019.  So, what does all of this for the Bitcoin market? Glassnode said that, “contrary to popular sentiment which says that sell pressure from whales drives the price down,...

  Bancor DeFi Platform Proposes Impermanent Loss Protection Decentralized on-chain liquidity protocol Bancor has proposed an upgrade that will introduce a number of improvements to the platform in addition to protection against impermanent loss. Bancor launched its long-awaited version 2 protocol upgrade in late July, and it is now proposing v2.1 to bring in a raft of improvements and protection measures. The protocol works in a similar fashion to Uniswap and relies on liquidity to perform its function. It uses an algorithmic automated market-making mechanism (AMM) through the use of ‘smart tokens,’ which ensures liquidity and accurate prices by maintaining a fixed ratio to connected tokens. Providing liquidity requires token holders to forfeit their long positions in order to take on exposure to other assets in the pool. This can expose them to impermanent loss which occurs when staked tokens lose value compared to simply holding them. It is called ‘impermanent’ because the token ...