The total value locked in Venus soared to a record $11.1 billion as DeFi users flock to the platform in search of attractive yields. Binance Smart Chain (BSC) has rapidly risen to prominence in 2021 as high transaction costs and congestion on the Ethereum (ETH) network led smaller-size investors to search for cheaper alternatives. One…
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The company is building a tokenization platform to better enable users to manage their DeFi yields. Pendle Finance, a decentralized finance protocol that allows users to tokenize and sell future yields, has completed a private investment round worth $3.5 million to power the next phase of its platform’s evolution. The private investment round included contributions…
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The seasons are turning and the markets are shifting — could it be a strong summer for decentralized finance? Fire up your tractors: The farmer’s almanac of decentralized finance is indicating that DeFi Summer 2.0 could feature some healthy yields across the ecosystem. Multiple common metrics used to gauge the health of the DeFi space…
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Maker price rallies to a new all-time high as the MakerDAO community makes preparations to become fully decentralized. Stablecoins have become a significant foundational piece for the cryptocurrency sector because they serve as a deeply liquid base pair for most assets and also offer investors a secure place to capture gains. Data also shows that…
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The BlockDown panel discussed the current issues but also the potential improvements for DeFi. Panelists at a DeFi-focused talk held at the BlockDown conference on Thursday expressed their optimism at the past and future growth of decentralized finance, but highlighted the hurdles to adoption due to congestion on Ethereum. The panel, titled “DeFi’s newest waves,”…
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Elrond price rallied to a record high as the project’s pivot toward NFTs and DeFi attracts new users and investors. As mainstream cryptocurrency adoption increases and more users start transacting on blockchain networks, the need for fast, scalable protocols becomes even more apparent as transaction costs and confirmation times continue to increase. One protocol that…
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Sheesha is attempting to make DeFi projects more accessible to mainstream users. Sheesha Finance, a decentralized finance mutual fund based in the United Arab Emirates, has raised $9.44 million over a two-week token sale — underscoring heightened investor demand for DeFi applications. The token sale, known as a liquidity generation event, or LGE, excluded private…
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The Solana ecosystem continues its development in DeFi. Step Finance, a Solana-native decentralized finance protocol, announced the completion of a private token sale for $2 million, which will help build and develop its platform. The round, disclosed on Tuesday, saw participation from notable Solana backers including Alameda Research, the hedge fund known for launching and…
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The first truly native cross-chain DEX is about to go live. ShapeShift CEO and crypto industry stalwart, Erik Voorhees, has suggested the launch of Thorchain is arguably the biggest event in crypto this week. And considering all eyes in crypto are on the direct listing of major US exchange Coinbase on the Nasdaq on Wednesday…
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The three largest stablecoins represent a combined capitalization of $60 billion. Research from on-chain analytics provider Glassnode has revealed that the top three stablecoins represent more than 90% of the sector’s entire market cap. Glassnode’s April 13 “Week On-chain” report found that the top three stablecoins — Tether (USDT), USD Coin (USDC), and Binance USD…
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