Hebdo Crypto #183 – Bitcoin and cryptocurrency news of the week

The week of 02/21 in brief – News re Bitcoin and the cryptocurrencies is constantly boiling. It can happen that crucial information gets lost in the daily information flow and that you miss important points. This format is there to remedy that. We return to the news of the past week in Crypto Weekly to keep you informed about the current situation of cryptocurrencies.

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The unmissable of the corner

It has now been more than two years since theDeFi ecosystem makes it possible to obtain returns on its cryptocurrencies. You still have to choose the right protocol and the right crypto to deposit. Don’t worry, we’ve put together a complete tutorial for you to see more clearly.

You have understood the potential of cryptocurrencies and you have invested in projects you believe in: it would be a shame to simply wait for them to increase in value! Indeed, like other assets, the cryptocurrencies you hold can earn you passive income. So rather than letting your tokens sleep, we will see several methods to make them work.

In this article, we will describe with an overview the main ways to earn interest with your cryptos. We will compare them using 3 criteria: work to be provided to set them up and monitor them, earnings potential and the risks associates.

More precise explanations to help you implement each of these methods will be offered in future articles.

Cryptocurrency staking

Staking is simply tying up cryptocurrency to receive passive income. Most of the time, you participate in the security of the blockchain and/or the efficiency of network operations by locking your funds.

The lending

the lending (loan in French) is a strategy that allows you to generate passive interest in lending your cryptocurrency to platforms. These platforms will use your tokens to earn interest and will give you a portion of it.

To do this, the platforms generally use your tokens in 2 different ways:

  • They use them to make them work on the Challenge (example: Yearn Finance)
  • They in turn lend them to other users in exchange for collateral (example: Nexo) in order to ensure reimbursement.

Lending can often be combined with borrowing, which we will see in the next paragraph. Whether or not these 2 methods are combined can guide your choice of platform.

Do not hesitate to consult the article in its entirety for more details: How to generate passive income with your cryptocurrencies?

News in brief

The Tendermint project changes its name to Ignite. This change is made within the framework of a recovery of the ownership of the brand by the former CEO of Tendermint, wishing to reuse the brand for a new project.

The Belvedere Museum in Vienna goes NFT. Thus, he created NFTs with the effigy of the painting “The Kiss” by the Austrian painter Gustav Klimt.

FTX CEO distributes $25 to each Ukrainian client. This distribution was made in reaction to the Russian invasion on Ukrainian territory.

The Multichain protocol recovers from its hack. Thus, thanks to the help of other entities, the protocol was able to recover approximately half of the funds stolen during its last hack.

The European Union in the process of regulating crypto-companies. Thus, the European Commission would like its financial watchdog to also oversee cryptocurrency transactions.

▶ In these uncertain times, nothing better than a coin trading analysis to put their positions in order.

The 5 metrics of the week

3.6 million ETHit is the amount that was stolen during the 2016 TheDAO hack on Ethereum. Six years after the events, it may well be that the identity of the attacker has finally been identified.

$205 millionit is the amount raised by the TheGraph project. This sum will be used to create a fund whose mission is to accelerate the development of the ecosystem.

$1 billionit is the amount raised by the Luna Foundation Guard through the over-the-counter sale of LUNA tokens. These funds will be converted into Bitcoin to form a foreign exchange reserve for UST, Terra’s main stablecoin.

500ETHit is the amount that was stolen in a phishing attack targeting Opensea users. The latter was able to steal 25 NFTs belonging to the CloneX, Bored Ape Yacht Club, Azuki, Cool Cats and Doodle collections.

47 TH/sit is the power delivered by the ASIC-type mining machine unveiled by the company Intel. This one presents its machine as being 15% less energy-consuming than its competitors.

Tweet of the week

Tweet of the week goes to the Kraken exchange. Indeed, it has announced that it is looking into the problem of customer diversity encountered by the Ethereum beacon chain.

At the same time, Coinbase has also announced that it is working to set up a mix of customers, to reduce dependence on Prysm.

Have a nice week on the Journal du Coin! 🙂

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