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DeFi Triumph, BTC On Waves, Crypto Japanese Style

12/11/2020
|
  • DeFi
  • bitcoin
  • Japan
News list

Will DeFi Outrun Bitcoin? Bitcoin Swings Make Traders Lose. Digital Currency - Now in Japan.

Will DeFi Outrun Bitcoin?

DeFi, or decentralised finances tokens, have been showing a great boost throughout the second part of this year; in November, they broke all the records and even outran Bitcoin in their accession rate! And day after day, we keep hearing that Bitcoin keeps conquering new heights. So, Bitcoin has grown by 40% over a month, while in the same period, DeFi token SUSHI has shown the greatest growth among all: full 300%! Two other leaders among decentralised finances are Aave and YFI Yearn Finance, which have grown by 200% and 160% correspondingly.

Today, DeFi is one of the fastest-growing segments of the crypto world. Users invest even more in it every day; now, DeFi capitalisation has grown to over 13 billion USD. The key to this popularity is its fixed profitability. In crypto industry, it has not been possible till very recently.

However, not all of the DeFi tokens show such great price growth rates. Many of them have grown by no more than 15% over October and November.

Will DeFi Outrun Bitcoin?

Bitcoin Swings Make Traders Lose

The first cryptocurrency rate is still going on a mad ride for the second time this December: now it has lost 1200 USD (6% of its value). The fall occurred on the night from the 8th to the 9th of December, and cost traders quite a fortune. Before that, a similar price fall was registered on December 1st, yet after that, Bitcoin recovered from its fall and managed to reach the coveted goal of 20'000 USD. However, later it was traded around the level of 18'000 USD.

Now as well, after its latest big crash, Bitcoin returned to the safe haven of 18 thousand dollars. However, this sharp move cost people almost half-billion USD. Exchanges closed orders of many thousands of users, and most of them were Buy Orders. Everyone who had expected to make a fortune on growing Bitcoin price suffered great losses. 10 million dollars lost one trader after an unexpected fall of the cryptocurrency rate.

What lies ahead for the first cryptocurrency? Will it be growth or fall? Since late November, the currency rate has experienced three sharp falls and has not consolidated its success of 20'000, so specialists continue talking about further trade reversal and lower price of Bitcoin. This is why many analysts advice to postpone buying it now and come back to it when the currency rate falls to as low as 15'000 USD.

Bitcoin Swings Make Traders Lose

Digital Currency - Now in Japan

In Crypto News, we have talked a lot about different countries choosing to develop their own national cryptocurrency. Brazil, China, Russia, and many more. Now the Land of the Rising Sun is one of them: in 2021, the government of Japan is about to start the first phase of testing the cryptocurrency.

The Bank of Japan announced that one of the main requirement to the new cryptocurrency will be to ensure its incessant work for such force majeure events like natural disasters. Unfortunately, this island state is too frequently exposed to earthquakes, tsunamis, and other acts of God.

It is still unclear yet if the digital currency in Japan will be well protected from connection failures due to the lack of electricity caused by natural disasters; however, there are still numerous options how to make it work, be it satellites or special radio transmitters that can provide for operations with digital currencies even without electricity.

Digital Currency - Now in Japan

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