In a recent announcement today, the widely-used stablecoin tether (USDt) will be launched on Solana, a high-speed blockchain network. This would be the first time a stablecoin has been integrated with Solana and this move will now allow tether holders to exchange their USDt stablecoins at speeds greater than 50,000 transactions per second on the...Read More
Leading cryptocurrency exchange Binance announced launch of Binance TR, its new subsidiary in Turkey which will allow fiat-to-crypto and crypto-to-crypto exchange for users in Turkey and allow them to trade crypto pairs like bitcoin (BTC), ether (ETH), tether (USDT), XRP and the exchange’s own Binance coin (BNB) and BUSD stablecoin. Introducing the new local exchange...Read More
A month after Binance Uganda, which is the Binance cryptocurrency exchange’s African wing, delisted ETH and LTC, it has now announced to delist the parent company’s very own native crypto, the Binance Coin (ticker: BNB). The move came after Binance Uganda periodically reviewed trading volume and liquidity of all its cryptocurrencies during which BNB coin did...Read More
Despite the short-term adverse price developments for Ethereum, ETH whales have continued to accumulate. Data from Santiment revealed that the top non-exchange whale addresses had increased their holdings by over 80% in August alone. ETH Whales Increased Their Holdings Similarly to the ICO boom in 2017, Ethereum’s popularity surged in 2020 as its blockchain serves...Read More
An Ethereum Improvement Proposal (EIP) which seeks to radically restructure the Ethereum fee pricing mechanism is gaining traction among developers. Known as EIP-1599, the proposal floats the idea of increasing Ethereum’s gas limit, while setting an elastic base transaction fee which is burned automatically. This is expected to return ETH transaction fees to usable levels,...Read More
Yield farming is a popular topic in the DeFi space for some time now. We know you may have many questions regarding yield farming – What is it? Why is it generating so much buzz? Let’s start with a simple statistic. In 2020, the DeFi space is so far growing at a rate of 150%...Read More
European cryptocurrency exchange ETERBASE announced in a tweet today that the exchange had been hacked and its hot wallets were compromised, which has lead to the loss of several cryptocurrencies. The crypto exchange said that it has contacted all other centralized exchanges that might be receiving these illicit funds stolen during the hack and were...Read More
The total USD value locked in DeFi may have taken a hit after topping at $9.5 billion. But that hasn’t stopped the proliferation of tokenized Bitcoin tokens on the Ethereum blockchain. Data shows that the ‘BTC on Ethereum’ number has now gone up to a little over 72,000. That implies that around $750 million worth...Read More
Stablecoins, which make up a huge chunk of those steep fees, could all switch to Layer 2 for some relief, according to one industry expert. Yearn Finance founder, Andre Cronje, has suggested that USDC and USDT will soon be available on Layer 2 as stablecoins make the transition away from Ethereum. USDC and USDT will...Read More
The whole fever of DeFi and high-risk investments may soon turn into Ethereum’s worst nightmare, and those responsible for this debacle may not be the yield farmers. Rather, it could be the participants of a giant investment plan cataloged as a Ponzi/MLM scheme by several experts and authorities around the world. For those unfamiliar with...Read More
Ethereum Options volume, at the time of writing, had dropped to $4.9M on Deribit, a level last seen back in June 2020. Interestingly, such a drop to uncertain levels has put derivatives traders in previously unchartered territory. In fact, Options volume over the past week matches the level of BTC Options volume from January 2019,...Read More
Disclaimer: The findings of the following article should not be taken as investment advice and the same should materialize within the next 24-hours After clocking in a value of $307 on 5 September, Ethereum’s recovery over the past 36 hours has been strong. On 6 September at 21:00 UTC, a local top at $360 was...Read More
Ethereum’s price has been freefalling in the past few days, losing nearly $200 of value at one point. According to a recent report, the price drop came shortly after the top 100 ETH exchange addresses dumped over 1 million tokens. ETH’s Recent Price Dump Predicted By Sell-Offs? Just until a few days ago, ETH’s price...Read More
Many times, perpetual markets have outpaced spot markets for a multitude of reasons. High leverage is the primary driver of growth. It brings in new buyers and traders. Traders look for options like margining in crypto instead of fiat, and no expiry, as opposed to dated futures. This makes perpetual swap lucrative. To top this...Read More
In the aftermath of a big drop, Ethereum dropped to $308, and was trading at $340 during the time of writing. More than an upside target, Ethereum would be looking to not lose support. Crypto.com Coin broke into the top 10 recently and was not ready to relinquish that status yet. Basic Attention Token lost...Read More
Let’s face it – DeFi is a big deal right now. Unexpectedly so, but it really is. Perhaps, nothing highlights this better than the fact that the Total Value Locked figures for DeFi have soared from just under $700M in January to over $7.8 billion, at the time of writing. It has, simply put, been...Read More
Ever since the largest cryptocurrency in the world began its bullish swing a month ago, it has breached the $12,000 mark a few times with each attempt succeeded by a big push down and thus placing Bitcoin into a FUD-feedback loop. FUD stands for fear, uncertainty and doubt, and it’s quite a common occurrence in...Read More
Until quite recently, Ethereum’s price seemed to have surged overnight owing to the ongoing DeFi craze. In fact, according to many analysts, DeFi’s explosion has been the top driver for Ethereum’s growth. What’s more, DeFi’s Total Value Locked figures have grown from under $1 billion at the start of 2020 to upwards of $10 billion....Read More
Ethereum has been sharing the limelight with Bitcoin this year following its exponential growth. This growth, however, was churned out by the growing interest generated among users through Decentralized Finance [DeFi] and the thought of making use of smart contracts to leverage positions in the market. With DeFi gathering momentum, ERC-20 tokens too were grabbing...Read More
The number of web developers building applications on Ethereum has increased year-on-year since 2018. According to data from npm.stat, which displays the number of times a JavaScript code library has been downloaded, more Ethereum-specific code packages were downloaded in 2020 than in 2018 and 2019 combined. Ethereum ‘Buidlers’ Keep on Building The two most commonly...Read More
Russia’s On Digital Financial Asset (DFA) legislation has received yet another set of proposed amendments that can push the country into launching a full-scale ban on cryptocurrency usage, with three exceptions – inheritance, bankruptcy, and enforcement proceedings. Russia’s DFA Sees New Propositions The world’s largest country by landmass has been rather indecisive, to say the...Read More
When Bitcoin dropped in value from $12,000 to $10,200 a few days ago, so did most of the crypto-market. Over a longer timeframe, however, it is likely that what BTC is noting is only a retracement in its bull run. That being said, the drop in question did take many traders by surprise. Further, while...Read More
Chilean cryptocurrency exchange, Buda.com has denied allegations that it transferred client funds without authorization, a local news site has said. Per the report Itau bank now known as Itaú Unibanco, a private sector bank based in São Paulo, Brazil filed a lawsuit against the exchange and that both the bank and the exchange were set...Read More
Coinbase Around the Block sheds light on key issues in the crypto space. In this edition, Justin Mart explores the synthetic asset landscape as well as other notable news in the space. Today, most Decentralized Finance (DeFi) applications look like copies of traditional financial products. You can swap one token for another, borrow or lend...Read More
Decentralized network, Chainlink was under attack by a spammer who targeted select few node operators on Sunday, with the intention of disrupting the network through unnecessary on-chain computation. Chainlink nodes are oracles that allow smart contracts that reside on the Ethereum to interact with external software. Chainlink community member further said in the thread that...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
Disclaimer: The following article attempts to analyze the emerging patterns in the Ethereum short-term market and its impact on price. The Ethereum market has been synonymous with the tremendous growth witnessed in the cryptocurrency market. However, this week has been a bit brutal, as volatility caused significant price swings in the market. Ethereum which was...Read More
The cryptocurrency market is well-versed with the subject of volatility. Such volatility has not only helped many a crypto-asset break out of its sideways movement on the charts, but the same has also precipitated sudden sell-offs. Traders often use volatility in their favor to hedge against potential risks in the market, while avoiding unexpected price...Read More
In a panel discussion with the Brooking Institution, Governor of the Bank of England, Andrew Bailey said that stablecoins, Bitcoin, and other cryptocurrencies are difficult and unsuitable for the public to use for traditional payments as he believed that the majority of the retail public still does not understand the usage of digital currencies. According...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
