DeFi Daily News,December 11st, 2020

1. Weak volumes and rotations into other cryptocurrencies are likely impeding bitcoin’s price movement from going higher. Meanwhile, ether has been more volatile than bitcoin in 2020 and could remain that way. Bitcoin (BTC) trading around $18,349 as of 21:00 UTC (4 p.m. ET). Gaining 0.14% over the previous 24 hours, which trading range was between $17,904 and $18,652.

2. According to the ChainNews, Swivel Finance, a decentralized fixed-rate loan and interest-rate derivatives agreement, announced the completion of a seed round of 1.15 million US dollars. The crypto fund Multicoin Capital led the investment. Participants included Electric Capital, CMS Holdings, Divergence Ventures and DeFiance Capital, Individual investors include Ash Egan, Stani Kulechov, Alex Pack, Imran Khan, Qiao Wang (Qiao Wang) and Thomas Klocanas.

3. According to BlockBeats news, the total lock-up volume of the Ethereum side chain SKALE Network has exceeded US$4.5 billion. At the same time, SKALE officially announced that it will integrate and cooperate with The Graph, Maker Dao, Chainlink and Arweave in the developer ecosystem by the end of 2020. SKALE Network aims to build a smart contract service platform to help Ethereum DApp gain more users with lower cost and better performance. SKALE’s token SKL has been launched on the world’s mainstream trading platforms Binance and Huobi. The SKALE Network community has more than 4000 token holders from 90 countries.

4. Kyber Network (KNC), a decentralized liquidity protocol, published a document to announce the progress of the project. He said that in 2020, the number of users, the number of new users and the number of transactions on the Kyber chain more than doubled, and the number of transactions increased six times compared with the same period last year. The official also stated that it has delegated part of KNC and voting rights to 9 project parties to expand governance, namely: DeFi Saver, Enjin, Fulcrum (bZx), InstaDApp, Trust, OneBit Quant, FPR Representative, Kyber Community Pool (DeFiDude) and Unagii.

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