Crypto asset manager Grayscale has published an in-depth report outlining sectors poised for bullish growth in the final quarter of the year amid a notable recovery in the cryptocurrency market, particularly for major players such as Bitcoin (BTC) and various altcoins, which have reached price levels not seen in over two months. Grayscale Highlights Key…
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It’s been 48 days since Bitgo revealed its partnership with Bit Global on Aug. 9, 2024. Since that announcement, the supply of wrapped bitcoin (WBTC) held on Aave V3 has soared to a new peak. Meanwhile, cbBTC, the bitcoin derivative token from Coinbase, has hit a market cap of $247.8 million. Bitcoin Derivative Landscape Shifts…
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Dydx has announced its integration of the Phantom Wallet, a leading Solana-based non-custodial wallet, into its decentralized finance (defi) platform. This integration aims to simplify access for over 7 million Phantom users, aligning with Dydx’s goal to broaden participation in decentralized trading. Phantom Wallet Is Now on Dydx, Enhancing User Access The new integration allows…
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Ethereum (ETH) demand is largely driven by the token’s use in on-chain applications and token transfers, according to a report by CoinShares. Ethereum’s Use-Cases Have Increased, But Long-Term Value Is Missing In a recently published detailed report, CoinShares’ Matthew Kimmell noted that despite Ethereum’s potential to host popular applications in the future, investors are struggling…
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Curve Finance is evaluating a proposal to reduce its reliance on the stablecoin TUSD following the resolution of U.S. Securities and Exchange Commission (SEC) charges against Trusttoken Inc. and Truecoin LLC, the companies behind the dollar-pegged token. TUSD Faces Removal From Curve Finance Pegkeeper The proposal, authored by Wormhole Oracle, suggests slashing the debt ceiling…
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With its price climbing 17% over the past seven days, Avalanche (AVAX) has lately been on a winning run. Right now, the cryptocurrency is trading at $28.12, up 7% over the past 24 hours alone. This abrupt increase fits a larger recovery across the crypto market driven by a significant shift in the US financial…
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Data demand for The Graph Network surged 84% in Q2, driven by increased subgraphs and a free query plan. The Graph Network Mainnet and Arbitrum accounted for most queries. Edge & Node’s CEO Tegan Kline praised the successful upgrade of The Graph’s hosted service to the decentralized network. She noted that the increase in queries…
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The U.S. Securities and Exchange Commission (SEC) has announced charges against decentralized finance (defi) platform Rari Capital and its co-founders for misleading investors and operating as unregistered brokers. The settlement involves penalties, injunctions, and bars against the individuals involved, with violations stemming from unregistered securities offerings and deceptive practices. SEC Charges Defi Platform Rari Capital…
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The rise of decentralized finance is particularly strong in regions with weak banking systems, such as Sub-Saharan Africa, Latin America, and Eastern Europe. Experts believe this is because defi offers financial tools and services traditionally unavailable to people in these areas. Experts point to the user-friendliness and security of defi compared to traditional financial institutions…
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According to the latest figures, over the past 38 days, starting from Aug. 10, 2024, the total value locked in decentralized finance (defi) protocols has slipped by $5.07 billion. Despite this decrease, ethereum continues to pour into liquid staking derivative (LSD) platforms, with 29 distinct LSDs pulling in nearly $1 billion worth of ether during…
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