Badger Bitcoin Bridge is a new solution from the Badger team that facilitates using BTC token in DeFi applications. It helps Bitcoin users to benefit more from services like Badger Setts. They can earn yields from their tokenized BTC in Badger immediately. Bridge is now ready in the Badger App, and BTC users can use it to easily earn money from their holdings in terms of yield farming or similar strategies.
Bridging the Gap Between Bitcoin and Defi
Bitcoin users have been put away from the benefits and opportunities of the DeFi ecosystem for a while. Staking, yield farming, or any other means of revenue in the DeFi ecosystem wasn’t easily accessible for them. Most of the DeFi applications run on Ethereum or similar blockchains that are different and somehow disconnected from the Bitcoin blockchain. It’s the reason that using BTC in DeFi systems is always difficult.
Some solutions have emerged in the DeFi community that use BTC holdings in a wrapped form. These Wrapped BTC tokens can be used in DeFi applications and provide the opportunity for yield farming to holders. Badger announced a similar solution named Bitcoin Bridge.
Badger plans to become the one-stop shop for Bitcoin holders to benefit more from their holdings. The latest solution helps Bitcoin users earn yields from their holdings immediately. They can use tokenized BTC, and Badger also rewards them for mining. The Bridge Mining Program includes a $5b reward for users that use the bridge to earn yields from BTC holdings.
The new solution from Badger comes with a strengthening partnership with the RenVM team. Ren Team has agreed to transition their wBTC.cafe product to the new Bader Bridge.
Badger plans to partner with more platforms to provide the new Bitcoin Bridge in more DeFi applications, according to the latest announcement:
“Given this depth of collaboration, we expect to mimic this functionality throughout all DeFi Ecosystems, so keep an eye out for similar products on Binance Smart Chain, Fantom, Solana, Polygon, and more!”
The announcement post continues with descriptions about how to implement the Badger Bridge and connecting wallets. The latest solution from Badger surely helps BTC holders enter the DeFi world easier. Some of those holders never want to convert BTC to other tokens, and the solution helps them keep BTC while benefiting from DeFi opportunities.
Legendary Trader Peter Brandt Challenges Binance with Four Questions about 88% BTC Crash
Here’s what is unclear for Mr. Brandt about mysterious Bitcoin (BTC) flash-crash of Oct. 21, 2021
Prominent trader and analyst Peter Brandt has taken to Twitter to ask his four questions in the context of the flagship crypto’s 88% dropdown.
What do Binance and Binance.US have in common?
First of all, Mr. Brandt challenged the character of corporate relationships between Binance and Binance.US, its unit focused on American markets.
1. What is exact corp. relationship @binance w/ @BinanceUS
2. Will firm release T&S with all trades/volume/price?
3. Did firm take opposite side of client fills
4. Will firm change low to reflect actual fills
cc: @GaryGensler @CFTC @SECGov @cz_binance @IBKR pic.twitter.com/huqzZbSGIt— Peter Brandt (@PeterLBrandt) October 24, 2021
Also, Mr. Brandt asks whether Binance is planning to release detailed documents to specify statistics for trades, their volume and prices during the flash-crash.
Then, the trading legend asked about the role of the platform in taking the opposite side of a client fills.
Besides the Binance CEO and co-founder Changpeng “CZ” Zhao, Mr. Brandt mentioned the Interactive Brokers platform, U.S. watchdogs CFTC and SEC and Gary Gensler, the SEC chairman.
Most expensive “trading algorithm bug” ever?
Also, Mr. Brandt attached a screenshot of a tweet by CZ when Binance’s boss warned his audience about expected volatility spikes across cryptocurrency markets.
Finally, Mr. Brandt added that he never used Binance for trading.
As covered by U.Today previously, on Oct. 21, 2021, amidst a spending rally, the Bitcoin (BTC) price briefly tanked to the $8,000 level, losing more than 88% in no time.
A similar flash-crash was registered on 26 other low-liquidity exchanges. A Binance.US representative attributed this dramatic plunge to a critical bug in third-party mechanisms by one of the platform’s sophisticated institutional clients.
Dogecoin Looks Ready To Rip As Bitcoin Finds Critical Support, According to Crypto Analyst Justin Bennett
Crypto analyst Justin Bennett says that Dogecoin (DOGE) could be ready to make a run for its next critical level about 37% above current prices.
The popular analyst tells his 88,000 Twitter followers that DOGE is attempting to break out of a long descending resistance line that it has been up against since May.
“DOGE looks ready (as long as $BTC cooperates).
Just needs to get above 0.27 on a daily closing basis to open up 0.34+.”
In the near term, Bennett says DOGE needs to turn the $0.26 level into support and close above $0.27 before continuing higher to his initial target of $0.34. At time of writing, Dogecoin is trading at $0.26 according to CoinGecko.
Looking at Bitcoin, the analyst says BTC’s ability to maintain the $60,000 level is a major show of strength that could have big implications in the broader markets.
“Although the BTC weekly candle might not look great, it still held above $60k.
That’s what I was looking for. Doesn’t mean we can’t see more pullback before further upside, but it does mean $60k is holding as support on a weekly closing basis.
Bennett also has his eye on Bitcoin dominance, which compares BTC’s market cap to the rest of the crypto markets. He says it’s bounced off a support level and is currently on its way up.
“BTC.D is bouncing from 44.5% support.
While surging Bitcoin dominance often suggests that altcoins will underperform, Bennett says this may only hold true in the short term. He says if the king crypto is looking healthy, then altcoins might take it as a signal to move up.
“This isn’t necessarily a bad thing for altcoins.
Will they suffer if BTC.D heats up again?
In the short term and against BTC, yes.
But Bitcoin strength now is massively bullish for alts over the next few months.
Anybody That Does the Homework Eventually Invests in Bitcoin: SkyBridge Capital’s Scaramucci
Founder of SkyBridge Capital believes that anyone who starts looking into Bitcoin seriously will end up buying
Antony Scaramucci, founder and CEO of SkyBridge Capital venture fund that has a branch investing in Bitcoin, has told CNBC that Bitcoin can eventually convert anyone who “does their homework” to invest in it.
He named several billionaires who used to be skeptical on BTC but have been into it since 2020.
Ray Dalio, Paul Tudor Jones, etc, have turned to Bitcoin
According to Scaramucci, Bitcoin has the power to attract even its opponents – if they begin to study BTC carefully and “do the homework” they get convinced of the great potential Bitcoin has.
He has referred to billionaire investors, such as Ray Dalio, Paul Tudor Jones and Stanley Druckenmiller – they used to be opposed to the flagship cryptocurrency and now are holding BTC in their portfolios.
Among these former Bitcoin skeptics are Shark Tank’s co-hosts – Kevin O’Leary (widely known as Mr. Wonderful) and Mark Cuban, billionaire and owner of the Dallas Mavericks baseball team. He now considers Bitcoin a store of value and believes that Dogecoin is a perfect crypto for payments. The Mavericks online store accepts DOGE for tickets and merch, and, according to Cuban, people are spending thousands of USD in Dogecoin on every month. He also likes Ethereum because of smart contracts.
Here’s how much Bitcoin Scaramucci holds
As part of studying BTC, Scaramucci recommended reading the BTC white paper written by Satoshi Nakamoto, the mysterious person or a team of them that created Bitcoin back in 2008-2009.
As for his own crypto holdings, Anthony Scaramucci holds over one billion USD worth of Bitcoin. He believes BTC to be digital analogue of gold.
He also believes that Ethereum and Cardano have a large potential and are going to keep rising in the future.