DeFi Daily News,December 29th, 2020

1. Bitcoin has mostly traded in a tight, low-volume range Monday while some profit-taking from bitcoin into ether is appearing on the ETH/BTC charts. Bitcoin (BTC) trading around $26,822 as of 21:00 UTC (4 p.m. ET). Gaining 2.3% over the previous 24 hours, which trading range was between $25,759- $27,447.

2. On December 29, the US cryptocurrency exchange OKCoin announced that it will suspend XRP trading and deposits on January 4, 2021 until further notice. In addition, OKCoin also requires users who borrow from the XRP/USD margin pair (including borrowing XRP and USD) to return the borrowed value before January 3rd. OKCoin stated that the decision was based on a recent lawsuit filed by the US Securities and Exchange Commission (SEC) against two Ripple executives. When it has information that may change its position, OKCoin will proactively notify customers.

3. DeFi insurance agreement Cover protocol officially stated that it is planning to launch a new COVER token, and the snapshot will be based on the data before the occurrence of the additional vulnerability. Cover officials also stated that 4,350 ETHs have been received and will be distributed according to the snapshot of LP token holders. The incident is still under investigation, but users are reminded not to buy COVER tokens.


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