Nasduck Index / Row betwen MakerDao and Chainlink / JP Morgan goes bull on Ethereum Staking/DeFi
DeFi market was plagued by low yield for the past two months, but worry no more, Summer is here and lots of exciting happenings on Ethereum. The editors have added for us a new section called “Nasduck Index” that hopes to provide a simple gauge on the market trending based on news and quantitative analysis.
Nasduck Index For this Week: 3.75
Nasduck is a Bull and Bear Index (BBI) based on the editor’s research on market news and quantitative data analytics. It aims to provide a simple prediction of market trend. Nasduck Index is affected by crypto projects development & market reception, institutional sentiment, regulatory attitudes and on-chain data analytics. Out of the scores, “1” is super bad and bearish, while “5” is super good and bullish. Also, the Index is more meaningful when compare with past and future data, a standalone index of 3 may not mean a positive market trend since crypto news tend to be positive in general and the Index is thus skewed upwards.
DeFi Quote of the Week:
From MakerDao Founder Rune Christensen:
Whats ironic about these organized hate campaigns against maker by the marines, is that maker literally invented the oracle model that chainlink uses (medianizer). If it wasn’t for makers oracles, there’d be no chainlink. Even your precious OCR was invented by maker years earlier https://t.co/oMvl8JIhgi
— Rune Christensen (@RuneKek) July 2, 2021
News of the Week
- Investment banking giant JP Morgan used to be anti-crypto.
- Now it’s putting out reports about proof of stake and Ethereum, eyeing growth in the staking biz to reach $40 billion by 2025.
The circulating supply of USD coin (USDC) on the Tron blockchain has surpassed 108 million in less than a month, according to blockchain data. Crypto traders are increasingly turning to blockchains that provide cheaper transaction fees with faster speed than what’s found on Ethereum.
The #Bitcoin difficulty ribbon has inverted, as the network responds to the ‘Great Hash-power Migration’.
The Difficulty Ribbon is an indicator that uses simple moving averages (200d, 128d, 90d, 60d, 40d, 25d, 14d) of the Bitcoin mining difficulty to create the ribbon. Historically, periods when the ribbon compresses have been good buying opportunities. The Difficulty Ribbon was created by Willy Woo. For more information read this article.
The #Bitcoin difficulty ribbon has inverted, as the network responds to the 'Great Hash-power Migration'.
— glassnode (@glassnode) July 1, 2021
Just for GAGS