This week has been great for SushiSwap’s leading developer, not so much for the token hodlers. A few hours ago, Chef Nomi, the anonymous character behind the project, sold all his tokens and cashed out. The self-proclaimed “head chef” sold millions SUSHI tokens over the weekend. Money is a “Distraction” Following what many call a...Read More
Cryptocurrency exchange Binance announced today the launch of its “centralized” Automated Market Maker (AMM) pool called Binance Liquid Swap, which will have different liquidity pools that will allow liquidity providers to earn interest and income from trading fees. Founder and CEO of Binance, Changpeng Zhao said that he was taking cues from the DeFi trend and...Read More
The events of the past seven days took a turn for the worst throughout the entire cryptocurrency market. Bitcoin started the week trading at around $11,500 and managed to advance to a peak of around $12,050 a few days later. And that’s when it went downhill. In less than two days, BTC lost around $1,500...Read More
This week has been filled with the likes of Sushi, Kimchi, Hotdog, and Pizza, half of which have pumped and dumped back into obscurity. The latest copycat to appear on the now highly contentious DeFi scene is a Curve clone called Swerve Finance. Honest Hard Working Farmers Wanted Swerve claims to be a fair launched...Read More
The cryptocurrency market is not finished dumping in value as Bitcoin is fighting to stay above $10,000, while Ethereum is already well below $400. The rest of the alts are bleeding out as well, as the total market cap shed $60 billion in two days. Bitcoin Dipped Below $10,000 It was merely 48 hours ago...Read More
Decentralization has been the key differentiator between the world of cryptocurrencies and that of traditional finance. However, over the past decade, as cryptocurrencies like Bitcoin grew in popularity and more products were introduced, crypto-exchanges were the ones to cement their position as the industry’s most dominant entities. Interestingly, with the monumental growth of the DeFi...Read More
Bitcoin may have been confined to certain price levels, forcing it to endure quite a bit of sideways movement, over the past few months. However, parallelly, the DeFi space has registered a major boom. The growth of DeFi this year has also raised questions about the sustainability of the platform it is based on –...Read More
The latest two DeFi protocols to pump and dump worthless tokens have been Hotdog and Pizza as the food meme trend continues. They are essentially clones of other defi platforms, some of which are clones themselves. The latest is a Uniswap clone called Hotdog that, just like SushiSwap, promised better APYs and shares in governance...Read More
Named after the fermented Korean dish, Kimchi is a fork of the wildly popular SushiSwap protocol that was forked from Uniswap late last week. Launched on Tuesday, September 1, Kimchi has already accrued almost $250,000 in liquidity in less than 24 hours, according to its dashboard. In the first few hours after its launch, the...Read More
Wrapped BTC aka WBTC locked in DeFi has hit a new high of 33,762 WBTC. At bitcoin’s current price this puts the total value of WBTC to about $400 million. The implications of this are many and the key factors are addressed in this article. Defi and Bitcoin With DeFi mania increasing every day it...Read More
The ongoing DeFi craze shows no signs of slowing down as the total value locked (TVL) in different protocols continues to increase by the day. As CryptoPotato reported earlier today, SushiSwap, the protocol that is attempting to fork the world’s leading decentralized exchange Uniswap by introducing a liquidity reward token called SUSHI, topped $1.2 billion...Read More
The crypto industry is scrambling to find a solution for the unfeasibly high gas fees that make smaller transactions on the Ethereum network financially unviable. The 2020 DeFi boom and explosion in yield farming platforms have strained the Ethereum network so much that whales and minnows alike are now fighting for block space to get...Read More
Launched just last week as a fork of Uniswap, SushiSwap has gained traction as the hottest thing in DeFi at the moment. It aimed to build on the popular token swapping protocol but offer a native token as a reward to liquidity providers. Uniswap only offers a 0.3% share of its trading fees to those...Read More
Yes, Tron’s Justin Sun just named a meme coin after himself CEO of Tron Foundation, Justin Sun announced the launch of $SUN, Tron Network’s first meme coin that will be mined to fund Sun Genesis Mining, a community-driven decentralized (DeFi) potential of TRON that runs on open-source smart contracts. (1/5) I am glad to announce...Read More
More than 1.1 million test Ether (ETH) tokens are now staked by validators on Ethereum 2.0’s Medalla test network. Validator participation is trending at 74 percent, which is well above the 66 percent threshold. The average staking balance of 32 ETH has been maintained by validators, who are now almost 38,000. This comes amidst the...Read More
As yield farmers scramble to deposit their crypto collateral in the latest and greatest thing in DeFi, volumes on the Uniswap DEX have surged to record levels. The milestone was noted by Ethereum developer and Uniswap creator, Hayden Adams. 🤯 Wow, @UniswapProtocol 24hr trading volume is higher than @coinbase for the first time ever 🦄...Read More
BitMEX the old? Once the OG and pioneer, BitMEX seems to be getting old, or at least the contracts listed on the exchange are. There are contracts for 8 coins – BTC, ADA, BCH, EOS, ETH, LTC, TRX, and XRP. Most of these coins were popular in 2017 but few seem to have survived and...Read More
OKEx has become one of the largest cryptocurrency exchanges in the past several years. The company’s growth is continuously emphasized by the trading volume and the growing user base. CryptoPotato recently had the opportunity to do an exclusive interview with the CEO of the company – Jay Hao.Hao spoke of the challenges OKEx has to...Read More
Yield farming has been quite the rage lately, with some going as far as calling it the “rocket fuel” that DeFi needs. The hyperbole is well and good, but the question remains – Is Yield Farming the real deal? Or is it yet another one of those brief fancies that often catches the eye of...Read More
Bitcoin seems stable after recovering from its drop to $11,100 and trades above $11,500. However, massive gains are evident among lower-cap alts and DeFi tokens, including YFI that doubled BTC’s all-time high. As such, Bitcoin’s dominance over the market has decreased by over 1%. YFI To $40k, Low-Caps Surging It’s no secret that the DeFi...Read More
Yearn Finance is undoubtedly all the rage in the cryptocurrency field right now. Up just shy of 80% in the past 24 hours, it peaked at almost $39,000 on Binance. Now, industry proponents such as the CEO of one of the world’s largest Bitcoin margin trading exchanges are making bold predictions about its price. Arthur...Read More
Yearn Finance, the DeFi protocol that took the entire crypto field by a storm, continues to break new grounds. Its governance token, YFI, suddenly shot up to 77,000 BUSD on Binance in what appears to have been some sort of a mishap. In any case, the cryptocurrency continues to impress as its price already surpassed...Read More
Every day brings something new to the cryptocurrency market as the DeFi craze continues to boom and surprise. Announced on August 26th, the SushiSwap project is attempting to take the concept behind the leading decentralized exchange protocol, Uniswap, and offer an alternative with further incentives to liquidity providers. Enters SushiSwap: What is it? In an...Read More
The popular cryptocurrency exchange OKEx has double-down on its DeFi-related endeavors by listing several new assets from the field. Company CEO Jay Hao promised that OKEx will continue to observe and act accordingly to the growing DeFi trend. OKEx Lists 8 DeFi Tokens The Malta-based spot and derivatives cryptocurrency exchange announced the addition of eight...Read More
The last couple of weeks have been nothing short of intense on the cryptocurrency market. For the first time since 2016, an altcoin flipped Bitcoin’s price as YFI traded above 1 BTC. Polkadot (DOT) is currently all the rage as all eyes are turned on the project and its native cryptocurrency. Data from CoinGecko suggests...Read More
The leading decentralized exchange has recorded more volumes in August than it did in July. Uniswap saw more than $300 million in trading volume over the past 24 hours and $2.5 billion in the last seven days, according to data on Dune Analytics. Uniswap Spends The Most Gas Fee Uniswap’s impressive volume is also putting...Read More
DeFi tokens continue to flood the markets as developers are minting new coins and listing them on Uniswap every day. While this might present an earning opportunity for some, the number of the so-called ‘rug pulls’ is also on the rise. Investors need to be extremely careful and selective when it comes to the tokens...Read More
Are these Surging Defi Tokens Bitcoin Competitors? The demand for Defi expanded as Decentralized Finance which is an Ethereum-based blockchain platform designed for lending has skyrocketed in recent days. Specifically, the price of one Defi tokens, YFI has also outperformed the trading value of the largest cryptocurrency, Bitcoin. Moreover, a wave of Defi projects have...Read More
The cryptocurrency derivatives trading exchange FTX has launched a Uniswap futures index combining the top 100 pools on the Uniswap platform. At the same time, the company’s recently released DEX dubbed Serum focused on the growing DeFi trend, continues with new developments. FTX Lists a Uniswap Index FTX announced the launch of the Uniswap futures...Read More
Binance, Houbi, and OKEx have revealed that they will support Qtum’s new offline staking feature, enabling users of the world’s largest exchange to earn QTUM rewards simply for hodling. Binance’s decision to support Qtum staking is a significant boost for the smart contract network as it embarks on a new phase in its development. In...Read More
