Major crypto exchange, Binance, announced that they will be adding DAI and removing EOS from their Peer to Peer (P2P) trading platform. In the announcement, Binance stated that all EOS advertisements should be removed by 4:00 AM on November 27 and all EOS tokens should be transferred from the P2P wallet to the spot wallet....Read More
Ethereum is currently retracting sharply from its previous and 30-month peak of $620. Even with a decline of around $100 to today’s prices of $525, ETH is still up over 300% since the beginning of the year. The confirmed genesis of the long-awaited Beacon Chain, which is Phase 0 of the even longer awaited Serenity...Read More
Andre Cronje, the brain behind the popular DeFi protocol Yearn Finance and the most expensive cryptocurrency YFI, has unveiled yet another DeFi protocol called Deriswap. Obsessed With Capital Efficiency The project focuses on capital efficiency, an aspect of DeFi that Cronje said he is obsessed with. The YFI creator is set to change the current...Read More
Ethereum’s Vitalik Buterin is in the news today after he called out Blockstream COO Samson Mow for his statements on how VCs and advisors need to legitimize “sh*tcoinery” so they can be intermediaries. Retweeting a comment made by Chris Burniske, Mow added, “If it’s as simple as buying BTC, which it is, intermediaries are obsolete.”...Read More
Yearn Finance’s governance token YFI took a massive fall on the charts as the DeFi hype died down in early September, falling from close to $40K to below $8K. However, things were quick to turn around for YFI in November, with the token able to register massive gains since, enabling it to rise by over...Read More
If the crypto-market was a team, DeFi would be the tough guy. DeFi has recovered well from not just the bloodbath of September 2020, but also the hack of over $100M back in November 2020. Actually, recovered would be an understatement as DeFi’s TVL has noted an exponential rise since. In fact, the same has...Read More
Bitcoin’s price crossed the critical $18000 level recently and the weekly gain now stands at 11.44%. However, Bitcoin’s dominance is still at 66%. Since the price crossed $17000 without further resistance, the top 10 altcoins based on market capitalization have rallied. The weekly returns show gains in 9/10. Litecoin is leading the rally with 30%...Read More
“You are only as good as your last race”, the famous line is also quite applicable to the crypto-verse. After its stunning rise during mid-year, DeFi tokens have somewhat lost their shine due to a series of misfortunes over the past few weeks. Certain projects underwent massive depreciation and others exhibited rug-pulls, to the joy...Read More
Earlier this month, SNX witnessed its largest drop and lowest TVL to date at $420 million as the DeFi crash led to several SNX stakers being liquidated. Source: DeFi Pulse However, since then, the TVL has risen to $800 million at the time of writing, and the price of the SNX token has risen by...Read More
Scams within the cryptocurrency industry come in different shapes and forms, including impersonating legitimate applications downloadable from trusted establishments. A popular digital asset commentator recently warned the community about such a scam using the Uniswap name, resulting in the loss of $20,000. $20K Lost In A Uniswap-Impersonating Scam Uniswap is a sort of decentralized exchange...Read More
Polkadot has competitors that claim the same thing as DOT – throughput that achieves scalability, lower fees, security, and the ability to build a defi ecosystem on its chain. However, only a few actually deliver these things and are yet to gain adoption. The adoption isn’t here yet due to the fact that Ethereum is...Read More
The decentralized finance [DeFi] ecosystem has been booming. Its total market capitalization has reached $17.662 billion, while Ethereum’s market cap has been close to $53.994 billion, at press time. DeFi market cap is over 30% that of Ethereum and it does not seem to stop here. Many projects have contributed to the growth of DeFi...Read More
Qtum, the blockchain DApp platform, is set to become the new kid on the decentralized finance (DeFi) block with the launch of the QiSwap mainnet. As the first automatic market-making (AMM) protocol on Qtum, QiSwap brings Uniswap-like features to Qtum, allowing users to easily exchange QTUM and QRC20 tokens and provide liquidity — while benefiting...Read More
Chainlink has successfully been deployed on the Matic Network, as confirmed by an announcement today. Matic is now the second blockchain after Ethereum to integrate Chainlink Price Feed Oracles. Five price feeds have already been launched on the mainnet: MATIC/USD, USDC/USD, ETH/USD, USDT/USD, and DAI/USD. As it stands, more price feeds are expected to follow soon...Read More
Earlier today, TrustSwap disclosed that they are currently working on an acquisition of another crypto company. The announcement states that TrustSwap is set to buy out another crypto company and onboard all of their assets, team, IP, etc to grow TrustSwap into an ‘absolute monolith’. TrustSwap anticipates that they will have all the details and...Read More
With the total value of assets locked in DeFi now worth over $13 billion, many expect this part of the crypto-space to grow at a rapid pace. In fact, in Q3 of 2020 alone, the DeFi ecosystem saw its transaction volume surpass $123 billion, with 96% of the total belonging to Ethereum. However, DeFi’s growth...Read More
In the past 24 hours apart from making headlines, SushiSwap gained 9.25% based on data from DeFiPulse. The project that earned a reputation as the dead $UNI fork that got hacked by the founder 2 months ago is now working on a strong comeback. The Sushi team has been working in the background. The token’s...Read More
After clocking in a new local top at $476, Ethereum’s price has been tepid over the past week. Clocking in a weekly change of 0.96% drop, Ethereum might be indicative of a correction period with Bitcoin but larger market sentiment remained poles apart with respect to the price. Source: Skew According to recent Skew data,...Read More
As of Tuesday, the Origin Protocol becomes yet another victim of the flash loan hack. This has caused a loss of funds north of $7 million including funds deposited by the founders. The attack was due to a reentrancy bug. The blog stated, “Unfortunately, our contract was safe from reentrancy bugs unless one of our...Read More
Uniswap is hemorrhaging collateral today as November 17 marks the final day of its liquidity mining program. In less than 24 hours, over $1 billion, or 40% of its liquidity, has left the protocol dumping it down to third place in the TVL charts. CryptoPotato predicted this would happen if Uniswap governance did not hold...Read More
Economist Nouriel Roubini has criticized the booming decentralized finance (DeFi) economy by labelling the entire sector as“the new crypto fad” and “junk vaporware.” The American economist took to Twitter on 16 November to root for “great cheap” fintech solutions that he believed will not depend on hyped blockchain technology. He said in a tweet: The...Read More
Bitcoin has overtaken the $16,000 price tag after struggling to remain above it during the weekend. Large-cap altcoins have fallen behind with slight decreases, while the DeFi field sees high volatility once more. Bitcoin Reclaims $16K As reported last Friday, Bitcoin’s impressive performance as of late took the asset towards a fresh yearly high of...Read More
SushiSwap is one of the ‘forgotten’ DeFi projects in the space today, one that everyone certainly remembers. And, not for all the right reasons wither. In fact, in light of the aftermath of the Nomi/Sushi ordeal, SushiSwap has been passed up by many as an ‘investable project.’ However, it would now seem that the protocol...Read More
DeFi’s total market capitalization stood at $15.8 billion against Ethereum’s market capitalization of $51.8 billion, at press time. This means that as of mid-November 2020, DeFi’s market capitalization is already over 30% that of Ethereum’s and it won’t be long before it explodes to surpass ETH’s own market capitalization. Since its launch in 2015, Ethereum’s...Read More
Brian Kerr, Co-founder and CEO of Kava Labs, is in the news after he recently asserted that by the end of 2021, DeFi as a general topic will move beyond its initial hype phase. However, this being said, Kerr added that there will still be some growth in specific areas – in particular, cross-chain products,...Read More
In 2019, cryptocurrency-related crime – thefts, hacks, fraud amounted to $4.5 billion. The latest data from blockchain forensics company CipherTrace shows that this number has fallen to $1.8 billion this year – a 60 percent reduction. Nonetheless, the DeFi space has seen an explosion in criminal activity. Mainstream Cryptocurrency Crime Declining Says CipherTrace In a...Read More
One of the most reputed DeFi traders in the business today, the pseudonymous DegenSpartan recently shared his critique on quite a few popular DeFi protocols that have a strong following with independent crypto-researcher Hasu. DegenSpartan has perhaps been most critical of Maker – the second most dominant DeFi protocol after Uniswap. Source: DeFi Pulse According...Read More
Although BTC has recovered from the two dips beneath $16,000, so far over the weekend, the asset struggles with decisively reclaiming the coveted price level and the area between $16,000 – $16,250. Larger-cap altcoins have also lost some steam, but DeFi tokens have surged in value. Bitcoin Stalls Around $16K Bitcoin’s impressive performance as of...Read More
xBTC is in the news today after it announced its integration with Chainlink to launch a new product type that will use Chainlink oracles to dictate a token’s economics. This integration will create a spot price for a data point that has never before had a spot price – Bitcoin Market Cap Dominance (BMCD). That’s...Read More
After marking a new yearly high of $16,500, BTC now seems to be retracing. The cryptocurrency dropped to as low as $15,750 and recovered to where it’s currently trading at $15,880. Most altcoins are following suit. The Correction Begins? There’s a saying for traders that goes – ‘what goes up, must come down.’ In other...Read More
