Owning to the Bitcoin and the aggregated cryptocurrency market’s recent roaring rally, BTC, and crypto hedge funds have reportedly registered profits upwards of the 100 percent mark. This comes amid the rising sentiment of sidestepping banks to avail quick loans through digital assets. What does this say about the cryptocurrency industry? Bitcoin And Cryptocurrency Hedge...Read More
The growing crypto world has enabled the rise of new projects which aim to bridge the gap between the traditional financial system and that of cryptocurrencies. Started back in 2017, Polkadot came in mainstream media recently, when it secured its position in the top 10 from nowhere. In this writing, the complete history of the...Read More
After cryptocurrency exchange Binance said that it would fund 5 DeFi projects, the firm has announced today that it will now be funding the second batch of blockchain projects as part of its $100 million accelerator fund, which was launched in September this year. Altogether, the fund now supports 11 projects that will build on...Read More
Many cryptocurrency projects have been working on financial inclusion and Ethereum Classic recently announced a step towards it. On 28 October, ETC labs and ChainSafe Systems announced the launch of a new bridge between Ethereum [ETH] and Ethereum Classic [ETC], with a focus on bridging the Dai stabelcoin to ETC. According to the announcement: “This...Read More
From Microstrategy’s $500 Million investment in Bitcoin to PayPal’s integration of crypto, in the past three months, we have seen it all. November 2020 is unlike any month since 2018. Bitcoin is trading above $13k and the top 10 altcoins have gained 10-12% in the past week. Additionally, BTC, ETH, and USDT reserves are the...Read More
Nowadays, cryptocurrency has really been popular. Many people have already shifted to crypto and have started to enjoy its perks for being an easy-to-use digital asset. Still, many seem to have no idea about what crypto really is. With that, we decided to make a simple guide to cryptocurrencies that may be helpful to beginners...Read More
DeFi protocol RAI Finance is in the news after it announced that it raised $1.5 million worth of strategic investment led by global crypto-funds including GBIC and Alphabit. RAI Finance aims to build a DeFi ecosystem with a higher amount of liquidity and a diverse set of financial use cases through an integration with the...Read More
The fiasco with Harvest Finance continues with full force. The team has put a $100,000 bounty for the first person or team to reach out with information about the hacker. It’s also important to note that the attacker has decided to return $2.5 million to the deployer contract of Havers Finance. However, given that the...Read More
Details are thin on the ground at the moment as the situation is unfolding, but DeFi yield farming protocol Harvest Finance appears to have become the latest victim of an exploit by a malicious actor. The team is currently updating via their twitter feed but it appears that an ‘economic attack’ was carried out on...Read More
2020 has turned out to be quite a year for the DeFi space. DeFi’s rapid growth over the course of the year saw it cross the $12 billion-mark in terms of total value locked, with the same bullishness positively impacting popular Bitcoin (BTC) tokenization protocol – Wrapped BTC (WBTC). WBTC, the ERC-20 token on the...Read More
Owner of the Bitfinex crypto exchange, iFinex announced today integration with cross-chain system pNetwork (pTokens network) which would enable BTC, ETH and LTC to automatically be tokenized, and moved on to DeFi blockchains directly from the Bitfinex platform. pNetwork is the decentralized governance layer operating the pTokens bridges. pTokens makes cryptocurrencies “compatible” with blockchains, such...Read More
With several blockchains integrating the USDC stablecoin last week, crypto payments tech firm Circle announced today that it would now make the dollar-backed stablecoin available for the Solana blockchain, after partnering with the firm. According to Circle, Solana, the blockchain behind decentralized exchange Serum, supports up to 50,000 transactions per second (tps). This surpasses Ethereum’s...Read More
“Ethereum 2.0 phase 0 to be launched at the end of 2019. . . .January 2020. . . .July 2020. . .September 2020. . .November 2020?” The digital asset class has created a very unique community over the years. While a person would rarely hear another one promoting investments in Gold, Silver, or whatnot, proponents...Read More
It is a well-known fact now, that the Bitcoin blockchain is considerably processing fewer transactions than it’s ‘Ethereum’ counterpart. And this decline in transaction processing has significantly reduced the revenue of miners as well. How much? Well, on-chain analysis firm Glassnode points to numbers that are at a 5-month low. Bitcoin Miner Revenue Touches 5-Month...Read More
DeFi’s total value locked [TVL] figures seem to be holding above $10 billion, however, scams are crawling out of the shadows, one project at a time. While ‘scam’ is a strong, blanket word, not all projects are scams per se. This weekend, the COVER project seems to have caught the attention of this label. Riding...Read More
In the latest report summarizing the Q3 2020 developments in the cryptocurrency field, CoinGecko has classified the outcome as the “summer of decentralized finance (DeFi).” The popular data aggregator noted that the top-performing decentralized exchanges saw (DEX) massive growth in terms of trading volume resulting in reducing the market share of centralized exchanges (CEX). DEX...Read More
Bitcoin took a 3% hit as OKEx announced the temporary suspension of crypto withdrawals on 16 October. Reports state that the exchange is being investigated by the Chinese police, however, the nature of this investigation is still not clear. This news definitely caused a wave of panic across the crypto market causing altcoins also to...Read More
As an altcoin, Ethereum has been the leader in terms of its growth observed this year. The evolution of ERC-20 tokens along with the decentralized platform established on Ethereum were vital contributors to Ethereum’s performance. Although the beginning of the final quarter of 2020 did portray as though ‘DeFi was dead’, but that seems to...Read More
The popular decentralized finance tracking resource DeFi Pulse has introduced a new tool to measure risks within the DeFi ecosystem. Developed in collaboration with the digital asset modeling platform Gauntlet, the instrument has already graded two “very safe” DeFi protocols – Aave and Compound. The Launch Of DeFi Pulse Economic Safety Grade The DeFi trend...Read More
YF Link is a fork of the popular yearn.finance (YFI) which combines Chainlink’s LINK token with Yearn Finance YFI’s yield farming/liquidity mining mechanics.YFL is a project which can be easily adopted by the Chainlink enthusiasts, known as ‘Link Marines’. With the growing popularity of ChainLink which surged from $2 to more than $18 which is...Read More
The adoption of traditional financial tools to crypto-currencies is not new and when it comes to gauging crypto prices, several trackers have come and gone that especially allows investors to estimate volatility of each crypto. On that note, the fintech platform which enables cross-chain interoperability, COTI (Currency of the Internet) has developed a Market Fear...Read More
Russian billionaire and owner of two giant UK newspapers Alexander Lebedev is looking into launching his own DeFi project. Dubbed The Independent Decentralized Financial Ecosystem (or bank 2.0), it aims to serve as a better performing bank, which benefits all participants. Lebedev Explains The Current Banking Problems Lebedev, the owner of the UK-based London Evening...Read More
Google trends data suggests that the worldwide interest in DeFi has been continuously declining since early September. Although the TVL remains high, the question arises if the decreasing interest has something to do with the growing number of screw-ups in the field. DeFi Interest Drops? The start of the new century brought a new trend...Read More
On-chain analytics provider Santiment has reported that there has been a decline in unique addresses interacting on the Ethereum network, particularly since mid-September. Both August and September witnessed spikes in address activity, primarily driven by new DeFi yield farming opportunities from the likes of Uniswap. 🤔 $ETH‘s daily active address metric is still revealing that...Read More
The last few days have seen a lot of public debate and questions emerge around the use of FTX’s FTT token by Alameda and Sam Bankman-Fried to borrow assets for short-selling. The issue in question initially arose after people accused SBF, a well-known industry figure and CEO of FTX, of borrowing YFI, allegedly destroying its...Read More
Many investors in Uniswap’s governance token, UNI, were hurt by the token’s crashing price. While UNI had peaked in early-September with a value of $8.59 within days of its launch, it could not hold onto this value and soon began its gradual descent on the charts. Further, the low volatility period in September was followed...Read More
A recent report exploring the Q3 2020 developments in the decentralized finance ecosystem confirmed the narrative that it was the best quadrant for the entire field. Additionally, it highlighted Ethereum’s massive role as the underlying technology but also broached several potential competitors, including TRON and EOS. Confirmed: DeFi Exploded In Q3 2020 The analytics company...Read More
United States Securities Exchange Commissioner (SEC) Hester Peirce said at a recent summit that the DeFi economy had “real potential” for “revolutionary change” but that it would also challenge the current regulatory structure in several ways. Further detailing about the DeFi economy in the LA Blockchain Summit, Peirce stated that the many “governance tokens” emerging...Read More
Decentralized oracle network Chainlink’s Grant Program is making more than $100,000 worth of blockchain integration grants available to developers that fully integrate the smart contracts platform into new blockchains. So far, Chainlink has accepted the first integration proposal for the DeFi scaling provider Solana network, including its Serum project. The program is an addition to...Read More
Bitcoin has finally managed to surpass the resistance at $11k, at press time and was valued at $11,045. There has been a push and pull in the price of the digital asset but at the time of writing the value of the digital assets seemed to hold above the $11k, price level. Source: BTC/USD on...Read More
