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Tag Archives: defi

Solana Reaches Record High in TVL on DeFi Protocols While SOL Price Soars

Solana – the fast-rising public blockchain platform – has reached an all-time high in TVL on its Defi protocols. This comes amidst a booming cryptocurrency market in which altcoins are beginning to reclaim market share. According to Defi Llama, the TVL in DeFi on Solana reached a new record of $12.7 billion earlier on October 21st. It has since receded to about $12.34 billion at the time of writing. Total Value Locked on Solana. Source: Defi LlamaThis is a greater volume than...

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SEBA Bank Rolls Out Yield Earning Program For Holders of Cardano, Tezos, Polkadot

SEBA Bank, a fully regulated Switzerland-based financial institution that offers several crypto services to its clients, announced that customers will now be able to earn yield on their digital asset holdings. SEBA Launches Yield Earning According to an official press release, SEBA Bank has launched a new institutional-grade solution dubbed SEBA Earn, which will allow crypto holders to earn yield on their digital currencies. The bank noted that the sharp growth witnessed...

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Celsius Network Raises $400 Million in an Funding Round Led by WestCap

Celsius Network– a leading cryptocurrency lending platform – recently received a $400M investment from equity firm WestCap and investment group Caisse de dépôt et placement du Québec (CDPQ). With this, Celsius is now valued at over $3 billion USD. New Funds For Celsius As stated in a press release, the company’s new proceeds will go towards expanding its product offerings and further bridging crypto to traditional finance. It will specifically focus on developing products...

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MetaMask Partners With BitGo, Qredo, and Cactus Custody to Enhance Adoption

MetaMask – the rapidly growing and highly popular Ethereum software wallet – plans to bring DeFi to large crypto-related institutions. They have partnered with three crypto custodians to respond to different organizational needs. Namely, those are BitGo, Qredo, and Cactus. MetaMask Brings Defi to Major Crypto Companies ConsenSys – the Ethereum software company that created MetaMask – unveiled the news in a recent blog post. Under the new partnership, institutions will be able...

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After Avalanche and Polygon Binance-Backed OpenOcean Integrates Fantom

As part of its ecosystem expansion, a leading DeFi and CeFi aggregator OpenOcean announced the integration of Fantom, an open-source smart contract platform for decentralized applications (dApps), to offer users better trading opportunities. OpenOcean Integrates Fantom Per the announcement, the initiative will also see OpenOcean connect with other Fantom-based decentralized exchanges, including SushiSwap, SpiritSwap, SpookySwap, and Curve. Like all other aggregations, the...

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A Month Later: Cream Finance Reports Recovering $16M of the Stolen Funds

Roughly a month after getting exploited for the second time this year, Cream Finance has reported that it has recovered more than $16 million of the funds. CryptoPotato reported on August 31st this year when the decentralized finance protocol Cream Finance suffered another security breach – this time, roughly $25 million in ETH and AMP were stolen. At the time, the team behind the project promised to investigate the manner and provide frequent updates. Now, approximately a...

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Europe Now World’s Biggest Crypto Economy: Boasts Over $1T Worth of Transactions

Central, Northern, and Western Europe (CNWE) has grown into the world’s largest cryptocurrency economy since July 2020. The region experienced a massive increase in trading activity since then– particularly in the DeFi space. The European DeFi Boom Data from Chainalysis shows that CNWE received over $1 trillion in cryptocurrency over the last year alone. This represents 25% of global trading activity. Furthermore, it is responsible for at least 25% of all crypto value...

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Emurgo Launched $100 Million Investment Fund to Power DeFi and NFT Projects Building on Cardano

Emurgo, the commercial branch of the Cardano ecosystem, has released a new product focusing on investing in startup protocols that want to build on the Cardano blockchain. This comes after several notable announcements from Charles Hoskinson’s team in the past few days. The official press release reads that the new investment vehicle, which will be a wholly-owned subsidiary of the parent company Emurgo, will have two separate branches with distinctive approaches. Emurgo...

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3 Reasons Why Avalanche (AVAX) is Up by 800% in Two Months

A lot can change in the cryptocurrency markets in two months. Avalanche and its native cryptocurrency – AVAX – are prime examples. The token traded around $9 during the market-wide crash on July 20th but surged by triple-digits in this timeframe to reach a new all-time high at nearly $80 earlier today. This came after numerous consecutive records last week, before the market-wide crash. Registering such massive price increases in a relatively short time has caught the...

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1inch Network Expands to Arbitrum to Lower Transaction Costs

The popular decentralized cryptocurrency exchange aggregator, 1inch Network, will be expanding to Arbitrum. In a press release shared with CryptoPotato, the team revealed that the move is aimed at lowering transaction costs and improving throughput and withdrawal speeds. Arbitrum is an Ethereum scaling solution built using Optimistic Rollups, and it allows developers to cross-compile contracts for running on Arbitrum. This is aimed at ensuring full compatibility with Ethereum...

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