• MakerDAO voted in favor of a 2% extra yield income from Yearn Finance.
• The proposal centered around a DeFi strategy to help Maker earn an annual 2% yield, which would also help with PSM USDC reserves and transfer.
• MakerDAO’s Total Value Locked (TVL) increased by 20.42%, DeFi Llama’s data showed.

MakerDAO has recently voted in favor of a 2% extra yield income from Yearn Finance. This proposal centers around a DeFi strategy to help Maker earn an annual 2% yield, which would also help with PSM USDC reserves and transfer.

The vote showed that 71.56% of the MKR community voted in favor of the proposition, while 28.44% preferred to say no to the „Yearn to earn Yield“ proposal. Maker Governance is also voting to approve or reject the offboarding of the USDC-A, USDP-A, and GUSD-A vault types.

The approval of the proposal has meant that MakerDAO has added another means to generate income and add to its reserves. Despite the compliance, Maker remained second in the DeFi Total Value Locked (TVL) standings. Nevertheless, MakerDAO’s TVL increased by 20.42%, according to DeFi Llama’s data.

At press time, the MakerDAO TVL was $7.5 billion, which is massively down from its 2022 All-Time High (ATH). On 23 January, the governance arm of the DAI stablecoin developers put out another offer for voting, which points to the offboarding of the USDC-A, USDP-A, and GUSD-A vault types.

Overall, the MakerDAO community has shown its trust and confidence in the Yearn Finance protocol by voting in favor of the 2% extra yield income proposition. This could potentially lead to a growth in its Total Value Locked (TVL) and help to increase its reserves. Although Maker is still not at its All-Time High, it remains one of the most popular DeFi protocols and will likely continue to evolve and progress.

• The U.S. Commodities and Futures Trading Commission (CFTC) is reportedly looking to implement global industry standards in crypto regulation.
• CFTC Commissioner Carline Pham has indicated that she was working to bring an industry standard regulation for the crypto industry, which would feature 10 fundamentals to ensure a responsible digital assets market.
• She has been consulting international policymakers to explore the standards that can be achieved at a global level and providing more guidance and regulatory clarity to the crypto industry.

The U.S. Commodities and Futures Trading Commission (CFTC) is looking to introduce global industry standards in crypto regulation. Commissioner Carline Pham has been working to create an industry-standard regulation for the crypto industry, which would feature 10 fundamentals to ensure a responsible digital assets market. She has been consulting international policymakers to explore the standards that can be achieved at a global level.

The announcement of the proposed regulation comes in the wake of the turmoil that hit the crypto market last year, which left several companies bankrupt or defunct. During an interview with Bloomberg, Pham revealed that she has had more than 75 meetings with various parties to discuss topics concerning crypto regulation. Commissioner Pham also commented on her stance on regulation of crypto assets, stating that they should be subject to the same standards as other financial instruments. Additionally, she acknowledged the need to identify what she described as crypto non-financial activity and come up with the appropriate regulatory and legal framework for them.

The CFTC commissioner noted that the current state of the crypto market was a matter of concern, with industry leaders like DCG’s CEO Barry Silbert and Gemini’s Cameron Winklevoss engaging in a public feud. She expressed her hope that regulatory agencies, including the CFTC, would work together to provide more guidance and regulatory clarity to the crypto industry in 2023. The calls for a global standard for crypto regulation have been growing with the scandals in the industry, and Pham’s proposal is expected to be a significant step towards achieving that goal.

• Bitcoin is currently in the accumulation zone, with demand for BTC experiencing a recovery.
• There are renewed hopes for a long-term recovery, with Bitcoin trading below its realized price since September 2022.
• Economic factors have a heavy hand in Bitcoin’s performance, and if the US cannot combat inflation, there may be higher inflation and a dive into economic recession.

Bitcoin is on the rise again as it enters the accumulation zone. Traders and investors alike have high hopes for a long-term recovery, with BTC’s pricing model showing that Bitcoin has been trading below its realized price since September 2022. The MVRV ratio is also still below one, meaning that Bitcoin is still oversold.

However, it is important to consider the economic outlook and the impact of economic factors on Bitcoin’s performance. The US government has been borrowing money to combat inflation, and if the US cannot combat inflation successfully, it may lead to higher inflation and a dive into economic recession. This could potentially spell disaster for Bitcoin, as it all depends on the state of the US dollar.

If other countries abandon the US dollar as the global reserve, it could have a significant impact on Bitcoin. This could cause a shift in favor of hard assets, such as gold or silver, which could negatively affect Bitcoin’s value. Additionally, debt burdens may discourage lenders, making it harder to access capital and thus, affecting Bitcoin’s growth.

It is important to keep in mind that economic factors have a major influence on Bitcoin’s performance. With this in mind, it is important to assess the economic climate and the state of the US dollar before investing in Bitcoin. This will help investors make informed decisions and ensure that they are able to make the most out of their investments.

• Chiliz has been in the grip of the bears since November 21, having noted losses of 41.8%.
• A bearish order block on the daily chart of Chiliz could pose a stern challenge to bulls.
• Bitcoin dithered around the $16.7k area, unable to break above $17k or dip below $16.4k-$16.2k support.

Chiliz (CHZ) has been in a bearish trend since November 21, having noted losses of 41.8% over the course of December. This bearish trend was evidenced by the series of lower highs and lower lows the price has made in recent months. Furthermore, a bearish order block on the daily chart of Chiliz could pose a stern challenge to bulls.

In the cryptocurrency market, Bitcoin has been dithering around the $16.7k area. The king of crypto has been unable to break above $17k and has been hesitant to dip below the $16.4k-$16.2k support. As a result, Bitcoin has been unable to make significant progress and is stuck in a period of consolidation.

On 20 December, Chiliz saw a short-term surge and reversal from $0.1185. This move saw short positions caught offside, and liquidity was collected. However, this surge does not necessarily signify a shift in the bearish market structure, and bulls must be cautious.

Overall, Chiliz is in a bearish trend and is currently trading beneath the lows of a four-month range. The bearish order block on the daily chart could pose a challenge to bulls, and traders should be wary of any potential false breakouts. Meanwhile, Bitcoin remains dithering around the $16.7k area, unable to break above $17k or dip below $16.4k-$16.2k support.

• Deep-pocket investors renewed their interest in ETH as the coin hit its highest value in three weeks.
• Whales interested in topping up their Ethereum [ETH] holdings resumed their activities, according to a 4 January update from Santiment.
• On assessing the whale transactions, it was observed that there was some instability since the start of 2023.

Recently, Ethereum (ETH) has been experiencing a resurgence in investor interest. According to a 4 January update from Santiment, whales interested in topping up their Ethereum [ETH] holdings have resumed their activities and the coin hit its highest value in three weeks. On assessing the whale transactions, it was observed that there was some instability since the start of 2023. Despite the drop, ETH holders who refilled between 16 – 28 December 2022 might have no cause to feel the deterioration. This was the condition revealed by the Market Value to Realized Value (MVRV) ratio.

The renewed interest in Ethereum comes as several altcoins have increased in value, but the king coin only registered a 4.12% increase in the last seven days. At the time of writing, ETH had dropped to $1,251, according to CoinMarketCap’s data, but Santiment highlighted that the whale accumulation was not yet up to the point it was on 16 December 2022.

The on-chain data suggests that there is a possibility of a decrease in the coming days. Buyers from the last few weeks were in slight profits, but it remains to be seen if the whales will be able to push the coin to its previous highs.

The Ethereum community has been eagerly awaiting a rise in the coin’s value and investors will be watching closely to see if their holdings will flash green. Ethereum is an important component of the cryptocurrency market, and its success is crucial to the success of the entire market. Hopefully, the whales‘ renewed interest in ETH will be the push the coin needs to hit new heights.