defi

Tezos Sees Rising Revenue but Declining Activity as Users Shift to Layer 2

Tezos Layer 1 saw a 30.4% quarter-over-quarter (QoQ) rise in transaction fee revenue, reaching 11,100 XTZ in Q4 2024. Meanwhile, Etherlink, Tezos’ first EVM-compatible smart roll-up, grew even faster, with a 44% quarterly increase, hitting 6,669 XTZ. Despite this, the overall network activity on Tezos dropped by 5% during the same period, with monthly transactions...
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Ethereum Foundation Launches Multisig Wallet for DeFi Participation

The Ethereum Foundation (EF), a non-profit supporting the Ethereum blockchain network, has established a multisig wallet to participate in the decentralized finance (DeFi) ecosystem. In line with this, the organization has initiated a transfer of 50,000 ETH worth approximately $165.3 million into the wallet. The New Multisig Wallet According to a January 20 X post...
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Tron DeFi: SunSwap Leads the Way with 8.3 Million Transactions in 2024

While USDT continued to dominate the Tron network in 2024, there was a notable rise in decentralized trading and meme coin generation. TRX, the network’s native currency, as well as WTRX, its wrapped version, experienced significant adoption due to decentralized finance (DeFi) activity. This was particularly seen on the Tron-based decentralized exchange (DEX), SunSwap, which...
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$488.5M in Stolen Crypto Recovered as 2024 Losses Hit $3B: PeckShield

PeckShield’s latest analysis reveals a troubling spike in crypto-related security breaches in 2024 alongside a bull market. Despite the grim statistics, recovery efforts have managed to reclaim hundreds of millions in stolen assets. Crypto Losses in 2024 PeckShield’s 2024 Crypto Security Annual Report reveals that the year witnessed a resurgence in crypto-related breaches, with total...
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Ripple-Chainlink Stablecoin Partnership Doesn’t Stop XRP and LINK Sinking

US fintech firm Ripple and blockchain oracle provider Chainlink have partnered to accelerate the adoption of the cross-border payments firm’s stablecoin, Ripple USD. “Ripple has adopted the Chainlink standard to access highly secure and reliable pricing data around the recently launched Ripple USD (RLUSD) stablecoin,” stated Chainlink on Jan. 7. Ripple describes its new stablecoin...
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Sky (MakerDAO) Hits New Highs in Fees and Revenue

December has been a breakthrough month for MakerDAO, with data from the decentralized finance (DeFi) analytics platform DeFiLlama showing it set new records in fees and revenues. According to the data, MakerDAO reached a peak of $40.86 million in fees, a key metric of user activity, and $26.77 million in revenue, reflecting retained earnings, between...
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A16z Joins Legal Fight Against Treasury and IRS Over DeFi Rules

Michele Korver, head of regulation at Andreessen Horowitz’s blockchain arm, A16z Crypto, has voiced strong opposition to the US Treasury and IRS’s newly issued broker reporting rule. In an official statement, she claims that it jeopardizes the future of decentralized finance (DeFi) innovation in the United States. Treasury’s “Midnight” Reporting Rule Lambasted In a December...
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Grayscale Updates Top 20 Altcoin List for Q1 2025 with These 6 New Additions

Grayscale Research has updated its top 20 altcoin list for the first quarter of 2025, adding six new digital assets. The list highlights cryptocurrencies the company believes demonstrate strong potential for the upcoming quarter. The Six Tokens According to the December 30 report, this update emphasizes tokens linked to three primary market themes: the U.S....
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RWA Tokenization Skyrockets: TVL Surges 58X in 3 Years

The real-world asset (RWA) sector has experienced meteoric growth over the past three years, soaring 58 times its previous valuation. Recent data from DeFiLlama revealed that its total value locked (TVL) now stands at an all-time high of $8.217 billion, with a $1 billion spike coming within the last seven days alone. Major Players Fueling...
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Access Control Vulnerabilities Cause $1.7B in Losses Across CeFi, DeFi, and Gaming

Access control vulnerabilities have emerged as the leading cause of crypto hack losses in 2024, accounting for a whopping 75% of total damages across decentralized finance (DeFi), centralized finance (CeFi), and gaming/metaverse sectors, excluding phishing attacks. According to Hacken, this marks a significant increase from 50% in 2023, with losses tied to unauthorized access and...
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Chainlink Unveils MEV Recapture Solution For DeFi, LINK Jumps 9%

On Dec. 23, Chainlink announced a novel oracle solution designed to enable DeFi applications to “recapture non-toxic Maximal Extractable Value (MEV)” called Smart Value Recapture (SVR). Currently, when DeFi protocols use price oracles, such as during liquidations, value is captured by third parties, including searchers and validators. None of this value returns to the protocols...
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Ronin’s DeFi TVL Grows 149% YoY, Boosted by RON Token’s 30% Price Rise

Ronin, the Layer 1 blockchain developed by Sky Mavis, experienced a significant 149% year-over-year increase in DeFi TVL, reaching $147 million in Q3 2024. There are several factors influencing this growth. One of the major catalysts was, however, the price surge of the RON token. Ronin’s DeFi, NFT Demand Grows According to Messari’s latest report,...
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Web3 Security Firms Confirm North Korea’s Role in Radiant Capital Hack

Radiant Capital has revealed new findings about the $50 million hack targeting its decentralized finance (DeFi) platform in October, attributing the attack to a North Korea-aligned hacking group. The attackers gained access through an elaborate scheme involving malware distributed via Telegram. $50M Radiant Capital DeFi Hack The breach, first discovered on October 16, 2024, prompted...
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DEX Clipper Refutes Private Key Leak Claims After Breach

Decentralized exchange (DEX) Clipper experienced a security incident at 4 am UTC on December 1, targeting its liquidity pools on Optimism and Base. Chaofan Shou, co-founder of security firm Fuzzland, initially attributed the exploit to a private key leak, allowing the attacker to authorize deposit and withdrawal transactions. Clipper, however, has refuted this explanation, stating...
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Hackers Have Stolen $1.49B YTD, DeFi Suffers 200 Attacks But CeFi Isn’t Safe Either

In November 2024, hacks accounted for an overwhelming 99.96% of total losses. During the same period, fraud and rug pulls fell significantly, contributing to just $25,300 in total losses across two incidents. According to the latest report by Immunefi shared with CryptoPotato, decentralized finance (DeFi) was the primary victim, with $71 million in total losses...
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Uniswap’s L2 Activity Hits Historic High of $38 Billion in November

Leading DEX platform, Uniswap notched a new record in terms of monthly trading volume on Ethereum Layer 2 solutions, as DeFi users flocked back to the platform in droves. Data compiled from Dune Analytics shows that Uniswap recorded $38 billion in trading activity across major L2 networks, including Base, Arbitrum, Polygon, and Optimism. The November...
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Sky (Formerly Maker) Announces USDS’s Debut on Solana Blockchain

Sky, the DeFi lending protocol that was formerly known as Maker, has rolled out its USDS stablecoin on the Solana blockchain. According to the official announcement, Sky said the launch positions USDS as “the first major DeFi-native stablecoin on Solana,” offering new avenues for borrowing, lending, and trading on the blockchain’s leading DeFi platforms. “Today’s...
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Aave’s Loan Volume Triples YTD, Currently Exceeds $10B

Leading decentralized finance (DeFi) protocol Aave has achieved a remarkable milestone, hitting $10 billion in active loans. It marks a 300% rise in lending activity from the start of the year when the figure stood at $3.4 billion. DeFi Renaissance Data from the on-chain DeFi tracking platform Token Terminal shows that in the last 30...
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Phantom Issues Emergency Update After iOS App Locks Users Out of Wallets

Phantom, a Solana-based decentralized finance (DeFi) wallet, has issued an urgent update for its iOS app. This follows reports that a bug unexpectedly logged some users out of their accounts. The glitch prevented several iOS customers from accessing their wallets unless they had backed up their recovery phrases. Users Locked Out of Their Wallets “We’re...
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Web3 Giant Animoca Brands Expands Beyond Gaming, Dominates October Investments

Animoca Brands – the Hong Kong-based Web3 giant – led the venture landscape in October, signaling broader ambitions across different sectors. Messari reported that Animoca made nine investments, surpassing other active entities such as CMS Holdings, which made seven, and Hack VC with six. Animoca Brands Pushes Venture Limits in October Traditionally known for its...
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Major Challenges Affecting Institutional Adoption of DeFi: IntoTheBlock

The decentralized finance (DeFi) sector has experienced explosive growth over the years, but several challenges are causing slower institutional adoption. With its total value locked above $100 million, DeFi has yet to remove the strongholds preventing institutions from getting involved in the sector. Crypto market intelligence platform IntoTheBlock believes these challenges are multifaceted; hence, DeFi...
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Coinbase Expands cbBTC to Solana, Boosting DeFi Options for Bitcoin Holders

Coinbase has announced the expansion of its wrapped Bitcoin product, cbBTC, to the Solana blockchain. Originally launched in September, cbBTC was initially available only on Ethereum and Coinbase’s native Layer 2 Base blockchain. Now on Solana, it will exist as a Solana Program Library (SPL) token, which can represent both fungible and non-fungible assets. Coinbase’s...
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Cardano DeFi to Access $1.3 Trillion in Bitcoin Capital Through BitcoinOS Partnership

EMURGO – the blockchain project advancing Web3 adoption on the Cardano blockchain – announced a strategic collaboration with BitcoinOS (BOS), a smart contract operating system built for Bitcoin. The latest move aims to provide Cardano DeFi users with access to Bitcoin’s capital, valued at $1.3 trillion, without relying on third-party intermediaries. The first technical collaboration...
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Radiant Capital Releases Post-Mortem Analysis of $50M Attack

Radiant Capital has released a detailed analysis of the October 16 exploit that led to the loss of more than $50 million in user funds. According to the post-mortem, the attacker used highly advanced malware to poison transactions, enabling them to steal funds during a routine multi-signature process. Attack Methodology Exploited Common Errors It all...
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Trump’s World Liberty Financial Raises Only $11M in First Day of Token Sales

World Liberty Financial (WLF), the highly anticipated decentralized finance (DeFi) protocol backed by Donald Trump, kicked off its public token sale on Tuesday, raising approximately $11.49 million on its first day. This figure represents around 3.8% of the protocol’s ambitious $300 million fundraising target expected from the token’s first sale. Figures Fall Short of Projections...
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Crypto Investor Loses $36M to Permit Phishing Scheme

A recent cyberattack has led to an unsuspecting crypto investor reportedly losing 15,079 fwdETH, worth roughly $36 million. In the incident, described by security experts as a permit phishing scam, the bad actor tricked the user into unknowingly signing a malicious signature, which gave the thief full access to the individual’s funds. How it Happened...
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Q3 Sees Lowest Crypto Hacks in 3 Years, but $440M Is Gone Forever

The number of hacks in Q3 2024 has dropped to its lowest point in three years, with only 28 incidents, across which a total of $463.6 million was stolen. However, the overall outlook remains concerning as there’s no chance of recovering over $440 million of the stolen funds. Worst Recovery Rates Ever According to the...
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Ethereum Adoption Leans on These 2 Pillars but Future Growth Still Uncertain: Report

A Coinshares report has revealed that the role of Ethereum (ETH) in crypto is being shaped by two main pillars: marketplaces and stablecoins. However, while the network is making waves in these areas, the path forward for new applications remains unclear. Decentralized Exchanges Dominate The report, released on September 24, indicated that marketplace and stablecoins...
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Trump Launches World Liberty Financial on X Spaces, Draws Criticism for Lack of Substance

Just one day after surviving a second assassination attempt, Donald Trump officially launched his long-anticipated cryptocurrency project, World Liberty Financial (WLF), through a live X Space event. However, the launch has gotten criticism from the crypto community for its lack of substantive information about the project. Community Backlash In a recent video posted on X,...
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Donald Trump Announces Launch Date of World Liberty Financial

Donald Trump has set the launch date for World Liberty Financial, which will debut on September 16. This announcement follows hints from his family earlier this summer, as well as Trump’s previous vague descriptions of the project as a DeFi platform for borrowing and lending. Details of the Project In a video posted on X,...
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Bitcoin (BTC) $ 96,670.90 4.50%
Ethereum (ETH) $ 2,822.34 10.35%
Tether (USDT) $ 0.999916 0.02%
XRP (XRP) $ 2.34 19.93%
Solana (SOL) $ 197.07 8.75%
BNB (BNB) $ 606.94 7.92%
USDC (USDC) $ 1.00 0.01%
Dogecoin (DOGE) $ 0.255359 18.17%
Cardano (ADA) $ 0.766792 15.52%
Lido Staked Ether (STETH) $ 2,821.30 10.37%