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Will the Financial Sector Ever Be the Same Again?: Digital Asset Digest Volume #65

Welcome to the 65th edition of ‘The Digital Asset Digest’. Today, we identify 3 DeFi instruments that are altering the financial sector and analyze the 3 best-paid jobs in the crypto sphere.

SNIPPETS

Teller Finance deploys mainnet on Polygon, migrates 2,200 NFTs

Source: CoinTelegraph

“Teller Finance, a non-collateral lending protocol for the DeFi market, has officially deployed its mainnet on Polygon, marking a significant milestone in its quest to offer scalable, user-friendly solutions.”

BitMEX Settles With CFTC and FinCEN for $100,000

Source: CryptoBriefing

“BitMEX has reached a settlement with two U.S. regulators, according to an announcement on the derivative exchange’s website.”

Coinbase reports $2 billion in net revenue for second quarter of 2021

Source: The Block

“Coinbase brought in roughly $2 billion in second-quarter revenue, with the vast majority of that amount coming in the form of transaction revenue from its retail customer base.“

South Korean Banks Report 100% Increase in Crypto Transaction Fees in Q2

Source: BeInCrypto

“Despite the fluctuation in the global cryptocurrency market, South Korean banks are reporting a staggering increase in transaction fees.“

BitMEX Agrees to Settlement Up to $100M with US CFTC and FinCEN

Source: Blockworks

“BitMex, a cryptocurrency exchange and derivative trading platform, announced today that it has reached a settlement with the US Commodity Future Trading Commission (CFTC) and the Financial Crimes Enforcement Network (FinCEN) for investigations by both agencies, the company said in a blog post.”

Will the Financial Sector Ever Be the Same Again?: Digital Asset Digest Volume #65

TOP GAINERS

Will the Financial Sector Ever Be the Same Again?: Digital Asset Digest Volume #65

TOP LOSERS

Will the Financial Sector Ever Be the Same Again?: Digital Asset Digest Volume #65

INDUSTRY WIDE SNAPSHOT

Will the Financial Sector Ever Be the Same Again?: Digital Asset Digest Volume #65

MARKET BREAKDOWN

3 DeFi Instruments Disrupting the Financial Sector

Source: GDA Capital

“Since the financial services sector is so asset-light and competitive, it’s also quick to adopt new technologies and innovations. In recent years, many of these innovations have been based on the blockchain technology that powers Bitcoin. This emerging field of Decentralized Finance (DeFi) is currently worth $84 billion and rapidly expanding. Here are three examples of how DeFi tools are disrupting the traditional financial sector. ”

EXPLORING NEW IDEAS

3 Best-Paid Jobs in Crypto

Source: GDA Capital

“Bitcoin has been around for just over 12 years while most digital assets are not even a decade old. Nevertheless, the sector is now worth over $1.6 trillion. In other words, we’ve created an economy the size of Brazil but only had 12 years to create talent for this massive sector.

Unsurprisingly, there’s a talent shortage. Startups are raising immense funds and actively looking to recruit, but struggling to find people with the right experience and willingness to work in the digital assets space. That’s pushed wages up. Here are the top three best-paid jobs in crypto in 2021. ”

TOKEN OF THE WEEK

Yearn Finance (YFI)

Source: GDA Capital

“Yearn Finance is a decentralized platform built on top of the Ethereum blockchain. The platform seeks to revolutionize how investors move funds between liquidity pools of various Decentralized Finance (DeFi) projects. It leverages smart contracts to ensure investors enjoy optimum returns whenever funds are transferred into various DeFi projects.“

GETTING TECHNICAL

BTC/USD

A snapshot of Bitcoin’s spot price as of this writing is $45,817.21 representing a 3.24% increase in the past 24 hours and a 7.59% increase in trading volume. The 30-day volatility of BTC is 55.82%. Bitcoin remains the top cryptocurrency trading with support at $40,000 and resistance at $47,000.

ETH/USD

ETH is trading at $3,135.49 as of this writing, representing a 24-Hour increase of 1.50%, and 30-day volatility of 66.33%. Over the last 24 Hours, the trading volume increased by 7.68%. As of today, ETH holds 19.84 % of the cryptocurrency market, making it the second-largest coin traded.

THIS WEEK’S DEEP READ

Analysts project 32% upside for Coinbase stock despite crypto market volatility

Source: Finbold

“Coinbase (NASDAQ: COIN) is set to announce its 2021 Q2 results by close of trading on Tuesday, with investors monitoring the exchange’s performance for the quarter marked by high cryptocurrency market volatility.”

And that’s all for this week! As a final note, we just released a new report on Decentraland in conjunction with Metaverse Properties. You can download it here

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