News Wire United - Yield Farming and DEFI News: December 2020

Thursday 31 December 2020

Bitcoin mining

Given that Bitcoin is not tied to a bank or government, it has been able to increase massively in value. Just this month, bitcoin surpassed $20,000 solidifying a new all-time high.

Bitcoin has a cap of 21 million in circulation, so after that’s all been done and dusted, there’s no more left.

Following bitcoin’s rise to the mainstream in 2017 to highs of, the question was raised on whether the leading crypto was having an impact on the environment.

Simply, the answer is yes.

Since then, bitcoin has been very volatile but despite this, the growth has been phenomenal, to say the least. But the environmental factor is very much still an issue. A large amount of energy is being used in order to power bitcoin and the miners that mine it.

Given that bitcoin it’s not tethered to a bank or government and is essentially just a line of computer code, it can be signed digitally from one owner to another. However, when it comes to the environment, the worry comes from the fact that bitcoin can exist without computers. As a result, electricity is being used massively in order to keep bitcoin going. With the value of bitcoin increasing too, this computer use will continue.

Not only is bitcoin mining an expensive hobby but it has a big impact on the environment and the world around us. Yes, the rewards can be lucrative but it will be interesting to see how bitcoin mining goes in the future, and if bitcoin can adapt to a greener world.

Title: Bitcoin mining & staying green
Sourced From: cryptodaily.co.uk/2020/12/bitcoin-mining-and-staying-green
Published Date: Thu, 31 Dec 2020 09:30:12 +0000

Bitcoin mining
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Will 2021 see blockchain grow?

It’s been a very interesting year, to say the least. The coronavirus pandemic has changed our day-to-day lives more than we could ever imagine and the world of crypto has hit new highs with bitcoin surpassing $20,000 earlier this month.

We hope you had a good Christmas and as we get ready to enter 2021, I think it’s safe to say many of us will be waving 2020 goodbye with a happy face.

The technology behind bitcoin, blockchain has also had an interesting year. Many big companies are looking at adopting the technology thinking it will help advance their business methods and they wouldn’t be wrong.

If you’re new to the industry, blockchain may be a word that is new to you, you are familiar with it but still have no idea what it is.

Essentially, it powers everything. Bitcoin, ethereum, and so on. Without it, you wouldn’t have cryptocurrencies.

In 2021, or we see Blockchain grow even further?

More than likely, the answer is yes. With coronavirus still impacting many countries all over the world, touching technology could seriously help with speeding The recovery of the economy. Yes, a vaccine has already been deployed in countries like the United Kingdom with a 95% success rate but the economy is going to need something a lot more to help recover.

On top of this, institutional investment has been massive this year. Many big companies have been getting on the bandwagon and are more likely going to be staying for the foreseeable.

For blockchain though, there is a hope that over time, complete industries will be using the same technology to help firms connect.

For more news on this and other crypto updates, keep it with CryptoDaily!

Title: Will 2021 see blockchain grow?
Sourced From: cryptodaily.co.uk/2020/12/will-2021-see-blockchain-and-grow
Published Date: Thu, 31 Dec 2020 09:30:07 +0000

Did you miss our previous article…
https://www.newswireunited.com/ethereum-rate-analysis-eth-sideways-combination-to-end-with-a-wild-move/

Will 2021 see blockchain grow?
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Ethereum Rate Analysis: ETH Sideways Combination To End With a Wild Move?

ETH/USD – Ethereum Bulls Battling To Head Toward $750

Key Support Levels: $720, $700, $675.
Key Resistance Levels: $750, $762, $790.

Etheruem surged by 15.5% this week, which allowed it to break resistance at $674 (bearish .786 Fib Retracement) to reach the current $735 price.

The coin struggled to break $733 (1.414 Fib Extension) over the past 2-days and is continuing to consolidate in the past few days below $750 something that’s likely to end with a wild move. It is essential to wait for a daily candle close above $733 before confirming that it is ready to head toward $750 and beyond.

ETH/USD Daily Chart. Source: TradingView

ETH-USD Short Term Price Prediction

Looking ahead, the first level of resistance lies at $750 (bearish .886 Fib Retracement). This is followed by $762, $790, and $800. Beyond $800, additional resistance lies at $816 and $855.

Alternatively, if the sellers push lower, the first level of support lies at $720. This is followed by $700, $675, and $645 (.382 Fib).

The RSI is approaching overbought conditions and is starting to flatten out, suggesting that the bullish momentum might be ready to subside. Additionally, the Stochastic RSI is setting up a bearish crossover signal that could send the market lower.

ETH/BTC – ETH Rebound Stalls At 0.027 BTC.

Key Support Levels: 0.026 BTC, 0.0251 BTC, 0.0245 BTC.
Key Resistance Levels: 0.027 BTC, 0.0276 BTC 0.0284 BTC.

Against Bitcoin, EThereum bounced from the 0.024 BTC level earlier in the week and managed to push as high as 0.027 BTC. There, it met resistance at a bearish .382 Fib Retracement and could not break above this level.

As a result, ETH dropped slightly and is now trading at 0.0261 BTC.

ethbtc-dec30
ETH/BTC Daily Chart. Source: TradingView

ETH-BTC Short Term Price Prediction

Looking ahead, if the bulls can regroup, the first level of resistance lies at 0.027 BTC. This is followed by resistance at 0.0276 BTC, 0.0284 BTC (Feb 2020 High), and 0.029 BTC.

On the other side, support first lies at 0.026 BTC. This is followed by 0.0251 BTC, 0.0245 BTC (July 2020 lows), and 0.024 BTC.

The RSI has reversed from the mid-line to indicate that the bulls could not take control of the market momentum. It is heading lower to suggest that the bearish momentum is once again increasing. Again, the Stochastic RSI is also shaping up for a bearish crossover signal in the coming week.

Title: Ethereum Price Analysis: ETH Sideways Consolidation To End With a Wild Move?
Sourced From: cryptopotato.com/ethereum-price-analysis-eth-sideways-consolidation-to-end-with-a-wild-move/
Published Date: Wed, 30 Dec 2020 12:10:21 +0000

Did you miss our previous article…
https://www.newswireunited.com/de-fi-accelerator-yfdai-democratizes-earning-prospective-through-collaboration-with-probit-exchange/

Ethereum Rate Analysis: ETH Sideways Combination To End With a Wild Move?
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De-Fi Accelerator YFDAI Democratizes Earning Prospective through Collaboration with ProBit Exchange

[PRESS RELEASE – Please Read Disclaimer]

YFDAI has secured significant liquidity from its live trading on ProBIt Exchange for accelerated adoption of its immensely disruptive De-Fi platform retrofitted with a De-Fi accelerator, DEX, and multiple liquidity pools.

Fully audited by reputable auditing firm Blockchain Consilium, YFDAI’s permissionless DeFi ecosystem features a time lock feature to lock tokens and liquidity which helps provide transparency and credibility in a space inundated by rug pulls and scams reminiscent of the ICO boom. This key token lock feature also applies to the entire teams’ token holdings until 2021 with a periodic release mechanism.

The YFDAI Launchpad serves as an accelerator to provide pre-sale token fundraising opportunities with protocols to lock up any raised funds while the team strategizes the overall tokenomics based on the specific features and utility of each token alongside full advisory services. All Launchpad projects fulfilling due diligence measures and stringent requirements also receive enhanced exposure through partner DuckDao’s decentralized incubator and extensive early-investor capital along with access to liquidity via YFDAI’s Safeswap DEX.

YFDAI stakers can earn 72% annualized rewards and additional revenue sharing incentives across SafeSwap, SafePredict, and other features, while long term stakers can capitalize on the staking multiplier to generate up to 1.75X rewards. All holders also gain full governance rights to dictate the future tokenomics and allocation of revenue generated by YFDAI.

The initial YFDAI liquidity pool will be available until all 1,455 YFDAI yield farming rewards are exhausted with liquidity pools based on Launchpad-featured tokens expected to be unveiled. Ferrum network’s liquidity staking feature will help sustain liquidity pools including YFDAI by enabling stakers to earn various tokens as their network of partnerships grows.

The deflationary YFDAI token features a buyback and burn policy until the total supply of 21,000 YFDAI is reduced to 13,950 and the team’s core alignment of revenue-generating features and staking incentives serves to fully democratize earning potential for all participants.

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Trading Fee Discount: Buy PROB, pay trading fees with PROB & get as low as 0.03% trading feeStake Mining: Stake PROB and earn PROB at a rate of 4% per annumReferral Program: Earn 10-30% of trading fees for referring friends to ProBitProBit Exclusive: Subscribe to 50% off Top 200 tokensAuto Hold Campaigns: Hold tokens and get 6% annualized returnsTitle: De-Fi Accelerator YFDAI Democratizes Earning Potential through Partnership with ProBit Exchange
Sourced From: cryptopotato.com/de-fi-accelerator-yfdai-democratizes-earning-potential-through-partnership-with-probit-exchange/
Published Date: Wed, 30 Dec 2020 12:10:12 +0000

De-Fi Accelerator YFDAI Democratizes Earning Prospective through Collaboration with ProBit Exchange
Check out the latest news at NewsWireUnited.com

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