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Business News of Friday, 18 December 2020


Cryptos that will likely earn you money in 2021

File photo: Cryptocurrency File photo: Cryptocurrency

The cryptoverse, in the latter part of 2020, has been experiencing a buying spree at unprecedented levels.

Still, many experts anticipate that some cryptos would probably perform even better in the coming year.

A popularly known crypto trader, Austin Arnold, predicts that several altcoins are primed to record impressive gains in 2021.

He has been a long term Bitcoin bull and tracks some altcoins amid the wealth boom happening in the crypto-verse.  One of such picks is decentralized financial (DeFi) protocols (YFI) and Aave.

The expert further gave valid reasons he picked (YFI) and Aave, taking into consideration that Circle is offering high yield digital dollar corporate accounts with 8.5% to 10.75% annual percentage yields, using both Yearn and Aave.

Circle is launching High Yield Digital Dollar Accounts w/ 8.5-10.75% APY. Where does the high yield come from?

Funds borrow USDC @ 8.5% from Circle, deposit in yearn/ Aave to earn ~15% & capture the spread. This off-to-on chain arb will be a liquidity vortex for DeFi protocols. — Santiago R Santos (@santiagoroel) December 15, 2020

Austin Arnold also recommended the oracle platform Band Protocol (BAND), on the bias that it has become the first blockchain project to join the OpenAPI Initiative alongside top leading tech brands like IBM, Microsoft, and Google.

Uniswap got into the list because its dominance in the DEX space is incredibly impressive; it reportedly passed $50billion in all-time volume recently.

Cardano (ADA) and Nervos Network (CKB), got the revered trader’s nod on the account that both blockchains have partnered to work on improving smart contract security.

"We’re excited to announce we’ve entered into a partnership with @InputOutputHK, the creators of #Cardano We’ll jointly research #UTXO ledgers & #smartcontracts to develop an improved framework for other UTXO-based chains — Nervos (@NervosNetwork) December 15, 2020"