Weekly Crypto Update

By Cryptoonestop | CryptoOneStop | 29 Jun 2020

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Here's the wrap of the biggest news in the digital assets space. To get email update delivered to your mail box check out this free newsletter. Here's a sample of what you'll be receiving. Everything is archived so you can access it any time.

Bitlicense moves to lure in crypto startups by issuing conditional licenses for those who partner with existing licensed businesses. As debt engulfed governments around the world begin to look for new revenue streams, expect this to turn into a global trend. NYC is notorious for imposing the most cumbersome regulations, as a result many crypto startups go elsewhere. This is good news for NYC resident who will be able to enjoy new digital asset based services.
As I’ve mentioned a few times in the past, the Chainlink oracle is a key infrastructure component to entire ecosystem. It’s needed to bridge blockchain to external data. If you want to learn about Chainlink I strongly recommend watching my video review. This recent integration with Blockchain Services Network (BSN) in China will provide BSN users with security, reliability, and inter-connectivity to fuel even greater growth and adoption of blockchain applications. BSN is a blockchain infrastructure service layer designed to be an all in one for companies to access ultra low-cost cloud computing services. It’s supported by some of the largest companies in China.
Balance follows COMP by enabling liquidity mining on their own platform. Balancer Labs, creator of the automated portfolio management tool, and has begun distributing their governance token BAL. Soon afterwards, BAL token went form <$1 to almost >$20 overnight. Since the beginning of the month Balancer’s token pools have been earning BAL token but none were distributed. Going forward, earnings will be distributed on a weekly basis. They hope this will move the project towards complete decentralization. Liquidity mining, giving out governance tokens for putting assets onto a protocol, has become very popular in 2020.
Kyber is almost ready for the final launch of their biggest upgrade to date, Katalyst. Katalyst will go live on 7.7.20 to introduce the KyberDAO. This will reward KNC for participating in governance through staking and inch the project closer towards complete decentralization. To learn how this will work check out this recent update from Kyber.
Payal and Venmo have plans to support unknown crypto assets on their respective platforms. The specifics aren't known but they're expected to enable the purchasing and selling of certain assets. Many are anticipating news to be released in the coming 3 months.
PlusToken scammers are on the move again. 789,000 ETH related to the scam moved over the last week. The previous time we saw this movement it didn't have material impact on the price back in December 2019. Nonetheless, many fear large quantities being dumped on exchanges.
The coin of the week is another DeFi coin. This coin designed provide discount on fees and voting rights once the platform shifts a DAO model. The platform is essentially a money market protocol. Many users exploit the low rates to take to take advantage of arbitrage opportunities in the DeFi ecosystem. Learn the identity of this DeFi token by clicking here.