The decentralized finance (DeFi) space continues to experience frequent attacks, and the latest victim is Warp Finance. The project admitted earlier today that undisclosed perpetrators have compromised the protocol and taken nearly $8 million by initiating a flash loan attack. $7.7M Taken In A Flash Loan Attack The significant growth of the DeFi space that...Read More
Decentralized Finance (Defi) seems to be the next big thing in the crypto space. This is evident from various Defi tokens like LINK, LEND, SNX which are making waves amid other cryptocurrencies. Within the past few weeks, we have seen remarkable market traction in various Defi tokens and attention has now shifted to the future...Read More
Social Media platforms, despite being a tale of the modern society, remain largely antiquated. While we browse through different profiles on our phones, we oftentimes forget that it’s one single entity behind the curtains. One central organization that can pull the plug and control the entire thing. It is here where the promise of blockchain-based...Read More
DeFi projects added to its TVL at an astonishing rate this year. The TVL stood at $691 Million in January 2020 and nearly a year later, the TVL surpassed $15 Billion on Monday. The YTD growth of DeFi is over 2000% with the top 6 DeFi projects including Maker, WBTC, Aave, Compound, etc. registering over...Read More
Polkastarter is a DEX developed to operate on the Ethereum rivaling network, Polkadot. Its highly anticipated launch this week went well despite the heavy loads on the dApp and server the blog post stated. The platform has been developed for cross-chain token pools and auctions, with the primary purpose of enabling projects to raise capital...Read More
The total all-time trade volume for the Uniswap automated market maker has surpassed $50 billion according to protocol founder Hayden Adams. Adams posted the major milestone adding that it has been split across 26,000 unique trading pairs. 🤯 Looks like @UniswapProtocol passed $50b in all time volume last week. 🧦 This is split across 26,000...Read More
For many, DeFi was the hot property of 2020, thanks to the growth it recorded over the course of the year. In fact, while at the beginning of 2020 the TVL was a “mere” $675 million, the figure had risen to just under $15 billion, at the time of writing. Source: DeFi Pulse It is,...Read More
The world of decentralized finance continues to amaze. Roughly around 12 hours ago, someone bid almost $800,000 for a collection of nun-fungible tokens (NFT) in what seems to be the most expensive purchase of digital art in the cryptocurrency industry. $800,000 Paid for NFT Digital Art Collection Mike Winklemann is a graphic designer from Charleston,...Read More
According to a recent announcement, a smart contract development platform for Tezos, Smart Chain Arena (SmartPy.io), is the newest recipient of a blockchain integration grant from Chainlink. The grant will enable Chainlink price feeds to be integrated on Tezos, something that will help the blockchain platform build next-generation DeFi products. The Chainlink Community Grant Program provides...Read More
2020 has been an incredible year for many firms trying to incorporate Bitcoin into their larger financial systems. Grayscale took the leap first, in the minds of many, with Coinshares and Bitwise making noise as well. These Crypto-Index Funds are regulated and their main focus has been the market’s institutional investors. For context, Grayscale currently...Read More
While DeFi has been the most popular buzzword of the year, it is a space that is fraught with risks. In fact, a recent report by BraveNewCoin outlined a series of 18 serious non-financial risks for DeFi, a report addressing the inherent risks that a user may be exposed to when diving into this ecosystem....Read More
Global Macro Investor CEO Raoul Pal has listed a number of reasons that Ethereum may well exceed Bitcoin in terms of market capitalization in the future. At the moment Ethereum’s market cap is just 18% of Bitcoin’s with $62 billion compared to $334 billion. In a flurry of tweets today, the investment strategist and economic...Read More
As the DeFi space continues to grow, ConsenSys has now announced a new offering from the leading wallet provider MetaMask. It will enable cryptocurrency funds, professional traders, and custodians with institutional-grade controls and applications for decentralized finance. The blockchain technology solutions provider ConsenSys has announced today a new offering oriented toward the growing space of...Read More
Will DeFi with its inverse BTC correlation eat Wall Street? In his latest tweet, Tyler Winklevoss of Gemini Exchange mentioned that “DeFi is the software that is starting to eat Wall Street”. Since DeFi’s market capitalization is still one-third of XRP’s market capitalization there may be room for growth. As Tyler argues, DeFi may eat...Read More
Ethereum is the most dominant cryptocurrency among the Top 4, based on activity, updates and the highest Github submission rate. The development team of Ethereum makes daily routine submissions that make it the busiest cryptocurrency that ranks #2 based on market capitalization. Despite its dominance, there are a few challenges facing ETH 2.0’s further growth. As...Read More
Yearn Finance(YFI) is considered the most disruptive DeFi token in the crypto space. It is currently the most expensive crypto which has the ability to pump and dump more than $5000 within 24 hrs. Many analysts also believe that 1 YFI price may equal to 2 Bitcoin very soon in coming days. So why the...Read More
Ethereum, the market’s second-largest cryptocurrency and the king of the altcoins, exhibited bullish bias at the time of writing. For the same, there seemed to be more than two reasons behind it. With the cryptocurrency’s price trading at $600 per coin, more price appreciation may be incoming and here’s why, On-chain metrics Ethereum investors Source:...Read More
Bitcoin price and Ethereum price reached the yearly highs and within no time initiated the correction phase. However, in between the major cryptos retrace, some other digital assets surge to touch new highs. Sushiswap (SUSHI) Price SUSHI price surged drastically within a small timeframe as the collaboration with Yearn Finance was announced. Since then the...Read More
Yearn.Finance’s YFI token has been in the news a lot lately, mostly due to its parabolic movement on the price charts. In fact, within a month of YFI trading at just over $7,500, the token hiked exponentially to touch the $30,000-mark on the 2nd of December. However, while YFI did hold the level for just...Read More
Injective Protocol announced the launch of their first synthetic commodity market on the Solistice Testnet. According to the announcement, users can now trade gold perpetual markets with up to 20x leverage. The price oracles utilized will enable real-time feeds which further allows traders to trade gold 24/7 on Injective. “We have chosen to begin with the introduction...Read More
YFI Price May Form New ATH on Breaking These Levels One of the most popular DeFi tokens YFI which had made headlines since its inception is expected to plunge to $18,000 levels. The YFI price is expected to drop to the levels if it fails to sustain at $24,000 or $22,000 levels as predicted by...Read More
Polkastarter, a Polkadot-based DEX built for cross-chain token pools and auctions, has partnered with Moonbeam, an Ethereum compatible parachain, to enable cross-chain interoperability. In an announcement, Polkastarter stated that the partnership would allow for easy integration between the Ethereum and Polkadot ecosystems. Moonbeam is able to transpile Solidity and other Ethereum-native logic & code to...Read More
Distributed database service Bluzelle has released details of its second validator program, Swarm of Duty II. The sequel to the maiden testnet, which ran in July, will provide developers, token-holders, and validators the chance to put Bluzelle through its paces and see what the network is capable of. “Kicking the tires” of blockchain networks has...Read More
Decentralized marketplace and e-commerce protocol Syscoin has partnered with the stablecoin platform TrustToken. The goal of the collaboration is to speed up payments and to provide further solutions to Ethereum’s blockchain. It also means that the five stablecoins of TrustToken, namely TUSD, TGBP, THKD, TCAD, and TAUD, will run on Syscoin’s blockchain and be available...Read More
Yearn Finance’s YFI has been rallying strongly over the past few days, with some in the crypto-community expecting YFI to surge past $30k soon enough. The protocol’s Andre Cronje has been in the news a lot too, especially since Yearn Finance announced multiple integrations within the DeFi ecosystem over the past week. In a recent...Read More
While Bitcoin’s price was rallying on the price charts, DeFi tokens were adding TVL in both BTC and ETH. However, after the price dropped by 8.64%, DeFi’s TVL soon plummeted from $14.35B on 23 November to $12.7B in less than a week. This didn’t mean that DeFi’s rally was over though. In fact, while the...Read More
A potential SushiSwap exploit was discovered earlier today, with the same confirmed on Twitter by 0xMaki, General Manager at SushiSwap. According to 0xMaki, the culprit got around $10-15K so far from the 0.05% fees cut of SushiSwap, while also adding that LP funds are currently safe. In fact, reports from SUSHI’s Discord channel revealed that...Read More
Chinese authorities seized around $4 billion worth of bitcoin and other cryptocurrencies from the notorious crypto Ponzi group PlusToken. This comes after the Chinese police arrested the core team running the scheme in July. Around $4 Billion Worth Of Bitcoin And Crypto Assets Seized According to CryptoPotato’s previous report on the PlusToken saga, the crypto...Read More
Yearn Finance has been actively integrating with multiple DeFi protocols of late, and Cover Protocol is the latest addition to this chain of partnerships. Yearn Founder, Andre Cronje, announced the Yearn and Cover merger earlier today, stating that Cover will become the backstop coverage provider for the Yearn product suite, as well as for DeFi...Read More
Privacy-focused blockchain Beam has announced that it will be integrating Chainlink’s price feeds to help its developers build DeFi Apps. The initial integration will focus on using Chainlink oracles to maintain collateralization of Beam’s confidential stablecoin protocol, while also supporting the Beam-ERC-20 bridge for moving assets between the Ethereum and BeamX blockchains. According to Beam,...Read More
