Crypto News for May 12, 2021
- $DFYN now has $100 million in liquidity.
- Collateralpay - you can “spend” your crypto by using your crypto as collateral.
- $EOS price moved up because of their $10 billion funding of their new DEX. EOS is big in China, but Ran thinks the project has been unaccountable to their holders. George mentions that EOS is not great but not as bad as Tron. George also mentions that Dan Larimer is rumored to have returned to Block One.
- DEFI as a sector is starting to eclipse the CEFI banking sector!
Ethereum and DEFI
Ran is joined by George from CryptosR_Us.
- DEFI has now eclipsed $100 Billion market cap but less than 1% of ETH addresses have ever interacted with DEFI. Ran thinks DEFI is pushing ETH to new heights and not the other way around.
- Ran still believes ETH is going to flip BTC’s market cap before March 2022. It’s a deflationary asset with an increasing user base performing thousands of transactions on its blockchain every day. Raoul Pal thinks the fair value of Ethereum is $6.5k - $7K which Ran currently agrees with.
- George says ETH flipping BTC is a possibility in 2022 after ETH 2.0 becomes a reality, but he is cautiously skeptical. George mentions that another smart contract blockchain like Cardano could step in and capture market share if Ethereum botches or delays its ETH 2.0 rollout.
- Ran asks George what other chain / token besides Ethereum he would take if he could only choose 1. He mentions that Binance Smart Chain is a copycat and prefers to hold Cardano. He also thinks layer 2s like Polygon are too dependent on ETH to be a dependable +1 to hold along with Ethereum.
DEFI Sector Rotation
Ran mentions how DEFI rotates from Ethereum into large caps like AAVE, YFI, SUSHI & UNI. Next up in the rotation are the smaller caps in the DEFI space:
George thinks that you only need to own one oracle token, Chainlink, while Ran still likes to uncover undiscovered oracle gems like Charli3.
Ran is Bullish on Solana
LATEST AND EXCLUSIVE Crypto Banter Project Report prepared by David Seegers on Solana is available by signing up for Crypto Banter reports (free sign up, you'll be emailed a link to the Crypto Banter reports).
- One of the biggest selling point for Solana is that it can run a decentralized exchange like a centralized exchange with limit orders, fast order execution and minuscule fees.
- Solana uses a proof of history algorithm within their nodes to allow for super fast transaction times.
- Ran mentions that there's a strong rumor that a big exchange in the USA is going to list Solana within the next few weeks.
