DeFi ‘Vampire’ SushiSwap Sucks $800M from Uniswap; BitMEX Basis Lags

[Galaxy]

Bitcoin was rising for a second straight day, to about $10,281, after a rapid sell-off earlier in the week.

“In a flash, investors have gone from running for the hills to buying the dip,” Mati Greenspan, founder of the cryptocurrency and foreign-exchange analysis firm Quantum Economics, told clients in an email. The crypto investment firm Stack Funds wrote in a weekly report that prices appear to have found a temporary floor around $10,000.

Taimur Baig, chief economist for Singapore’s DBS bank, told CoinDesk that the pandemic and the associated central-bank money-printing have strengthened the case for bitcoin. “People are worried about dollar outflow and wondering if they should hold crypto in addition to gold as a safe-haven currency,” he said.
Info link: https://www.coindesk.com/first-mover-defi-vampire-sushiswap-uniswap-bitmex-basis