A sharp correction in equities markets led Bitcoin price and DeFi tokens to sell-off sharply but have investors turned bearish? Digital asset markets were on a parabolic surge until investor confidence took a major hit to close out the week with a bearish tilt due to a perfect storm of negativity. Before reading the rundown,…
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Skepticism is always wise in the Blockchain space, even if a project turns out to be on the level. SushiSwap, a fork of the popular Uniswap exchange and one of the latest breakouts of the DeFi craze, has undergone its fair share of scrutiny in recent days — and fairly so. The platform’s token, known as…
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This chef may be preparing the biggest sashimi of them all. The liquidityThe SushiSwap community just approved a move from Uniswap to its own native platform — built by forking the original project. Almost 87% of the vote were in favor of the migration. Currently, there is close to $180 million worth of liquidity in the ETH/SUSHI pair…
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Political parties on the blockchain could soon become a reality for the DeFi space. Meta-DeFi protocols are becoming increasingly popular following the success of Yearn.finance. The project is essentially a yield farming hedge fund that lets people participate in complex strategies to farm the governance tokens, or GTs, of other protocols. Yearn is just about…
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The Chinese government is supporting a new global DeFi association. Amid the ongoing craze around decentralized finance, or DeFi, a blockchain startup in China is launching a global DeFi initiative. Conflux Network, a permissionless blockchain startup, has launched a new DeFi-focused association focused on international cooperation of major industry players. Called “Open DeFi,” the new…
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Bitcoin has crashed below $10,000 for the first time in seven weeks. An aggressive week of selling has seen the price Bitcoin (BTC) fall below $10,000 for the first time since late-July, triggering fear in the markets. After posting a local top of roughly $12,500 on August 17, BTC consolidated between $11,250 and $12,100. However,…
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Is DeFi a mousetrap for retail investors? On September 2, the revenue of Ethereum (ETH) miners reached an all-time high of 51,541 ETH. While this may be good for the miners, it could turn popular DeFi projects into a mousetrap. Ethereum miner revenue, percent from fees and total gas used. Source: Glassnode. When denominated in…
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A less scrupulous figurehead would probably have said yes. Amid skyrocketing prices in decentralized finance, also known as DeFi — a current hyped niche of crypto — one project offered half a million dollars as payment for media visibility. An unnamed DeFi project contacted trader and YouTuber Tone Vays, offering $500,000 for advertisement, Vays detailed…
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A 51% attack on Ethereum 2 would not be fatal according to Vitalik Buterin, amid concerns the yETH vault could amass enough Ether to launch an attack Ethereum co-founder Vitalik Buterin has dismissed concerns that a 51% attack on Ethereum 2.0 would be ‘fatal’. The scenario emerged as a result of the burgeoning popularity of…
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Food themed DeFi project Hotdog dumps from $4,000 to $1 in five minutes. The latest high-yield, food-flavored DeFi meme project, Hotdog, appears to have crashed and burned just hours after it was launched. The newly cloned DeFi protocol called Hotdog promised insane returns up to one million percent APY in order to lure liquidity providers.…
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