Blockchain Bites: Inside Cosmos, Bitcoin at $200B, DeFi Surges

Traders are expecting bitcoin to go higher. DeFi is surging in web traffic. And Cosmos is alive and well, despite internal feuding.

No cults
Cosmos, the blockchain interoperability project that turned a small ICO into a thriving ecosystem, almost came to an end in February 2020 when the project’s co-founders engaged in a heated feud. It is now a testament to open-source collaboration and teamwork. “The Cosmos community managed to mature beyond a cult of personality without turning founders into martyrs, working together to reduce individual influence over the shared resources,” says CoinDesk’s Leigh Cuen.

In line
The blockchain subsidiary of messaging app giant LINE has made its native token available to Japan-based traders for the first time. BitMax – operated by LINE’s LVC Corporation – has become the first crypto exchange in Japan to offer LINK (LN).

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Australian rules
Australia’s National Rugby League (NRL) announced Monday it was piloting a blockchain-based app developed by the country’s patent and intellectual property office. Called Smart Trademark, the platform allows the legal owners of a trademark to link online stores and their supply chains to a government registry, so they can distinguish themselves from counterfeit websites.

DeFi token YFI rises quickly following a listing on Binance (Decrypt)

“Bitcoin mania appears to be almost back in full bloom,” says Bloomberg.

CoinDesk reporters Sebastian Sinclair and Omkar Godbole have the latest:

Bitcoin is on the hunt for a new yearly high, having crossed above $12,000 early on Monday. The cryptocurrency picked up bids during the Asian trading hours, rising from $11,750 to $12,068, according to CoinDesk’s Bitcoin Price Index. A break above $12,118 looks likely, as bullish…

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