While the crypto economy has seen a decent uptick in performance during the first week of October, a number of decentralized finance (defi) tokens have seen tremendous gains. Furthermore, the total value locked in defi has risen to $195 billion, jumping more than 14% over the last two weeks from $171 billion.
Defi Tokens Skyrocket,…
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Sky Mavis, the team that created the Ethereum-powered non-fungible token (NFT) game Axie Infinity, revealed the project plans to launch a decentralized exchange (dex), according to the company’s co-founder Jeff Zirlin during a podcast with Frank Chaparro. Moreover, Axie Infinity recently captured over $2 billion in NFT sales, making it the second-largest project in terms…
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Traders raised their bids for the decentralized exchange token, believing it would benefit from China’s decision to classify all crypto transactions as “illegal.” Decentralized exchange dYdX’s native token DYDX surged by nearly 80% this week as traders assessed its potential against China’s recent ban on crypto transactions. The DYDX price hit a new high of…
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DeFi farmers are claiming to have made hundreds of thousands of dollars by gaming dYdX ‘s recent airdrop. As dYdX’s governance token gains amid speculation that Chinese traders could be migrating to the derivatives DEX, savvy DeFi farmers are claiming to be sitting on six-figure stashes after gaming the protocol’s recent airdrop. DYDX has gained…
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Chinese traders appear to be flocking to derivatives DEX dYdX amid concerns over a renewed crypto crackdown in China. Decentralized derivatives exchange dYdX has seen a surge in trade activity as concerns surrounding a renewed Chinese crypto crackdown have circulated this year, with the DEX now processing more volume than Coinbase’s spot markets for the…
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The Solana Foundation says bots spammed the Grape Protocol IDO on Raydium with 400,000 transactions per second, bringing the network to its knees. Solana has attributed the 17-hour outage it suffered last week to a denial-of-service attack aimed at Grape Protocol’s Sept. 14 initial DEX offering (IDO). In a Sept. 21 blog post, the Solana…
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In mid-September, the total-value locked (TVL) in decentralized finance (defi) continues to climb higher, as the value held on Ethereum, Binance Smart Chain, Avalanche, Solana, and more blockchains has risen dramatically to $171 billion today. On the Ethereum network, there’s 270,783 bitcoin held in TVL worth more than $13 billion and $15 billion has been…
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The automated market maker is currently in beta development and set to launch in Q3 2021. Automated market maker MonoX has today announced a debut capital raise of $5 million from venture firms including the likes of Axia8 Ventures, Animoca Brands, Divergence Ventures, among others. MonoX will use the funds to support its ambitions in…
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On Wednesday, the programmable liquidity platform Balancer Protocol announced the project has partnered with the Wallstreetbets defi project Wsbdapp. The announcement details that the two projects will collaborate in order to launch Wsbdapp’s exchange-traded portfolios (ETPs) on Balancer V2. Balancer Protocol and Wallstreetbets’ Defi Project Partner to Launch Exchange-Traded Portfolios Last week, Bitcoin.com News reported…
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Decentralized finance (defi) has set a trend during the latter half of 2020 and into this year, as statistics show $168 billion is locked in defi across various blockchains. The Bitcoin Cash network now has the Smartbch protocol and in recent times, a decentralized exchange (dex) platform has joined the defi fray. The newly launched…
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