Tag Archives: defi

Bitcoin is trading for just over $36,000. Despite a recent $4,000 drop, the asset is still considered to be doing well by analysts and industry experts alike. However, the cryptocurrency is once again being outdone by several smaller coins, particularly those in the decentralized finance (Defi) space.Defi Is Seriously Outdoing the Ranks of BitcoinBitcoin has added roughly 300 percent to its price over the past year. It is the largest and most popular cryptocurrency by market cap, and has thus...

The decentralized finance sector continues to grow with an impressive all-time high of over $24 billion locked. Additionally, the Binance DeFi Composite Index, measuring the performance of numerous DeFi coins, also marked a new ATH today.Binance DeFi Index To New HighsLaunched in August 2020, the DeFi Composite Index tracks and measures the performance of “a basket” of DeFi assets in what the company described as a “standardized way.”“The composite price indices are combinations of different...

Prices for Chainlink’s LINK token have skyrocketed over 19% in the past 24 hours propelling it to a new all-time high. From an intraday low of just below $20, LINK has surged to reach its highest ever price of $23.60 according to Tradingview.com.Chart – Tradingview.com@chainlink has solved the biggest challenge for the implementation of smart contracts – connecting blockchains to real world data. $LINK price is $23.55 $USD – 24hr volume of $2.52 Billion $USD. $LINK is up 17.20% in 24 hours....

The leading cryptocurrency exchange Binance has teamed up with an Israeli blockchain company called Orbs to be the first core sponsors of a DeFi-related program. Dubbed DeFiOrg accelerator, it aims to enhance the research, development, and community engagement in the decentralized finance field.Binance And Orbs Sponsor DeFi AcceleratorThe Malta-based digital asset exchange announced its most recent endeavor in a press release shared with CryptoPotato. It described the accelerator as a program...

The DeFi space continues to grow. With it, though, there’s no shortage of mimicking projects, plenty of forks, and concepts that are beyond questionable.Apart from the above, we can also see various tokens exploding in price, charting tremendous gains in hours, only to come back crashing hours later. Some of them claim that it’s the way they are designed, though a 100x increase in hours and a 100x decrease in a few more hours can hardly be explained by protocol design.From $2 to $200 to $2...

ETH’s price is not the only Ethereum metric rising in the past few days as the transaction fees on the network have skyrocketed to an average price of above $10. The popular decentralized exchange Uniswap still accounts for the largest share with over 30,000 ETH spent in the past 30 days.Surging Fees On The Ethereum NetworkAccording to data from the monitoring resource Ycharts, the average fees on the Ethereum network have surged recently to above $10. This development came following months...

2020 has been an interesting year, to say the least. The cryptocurrency field, in general, witnessed tremendous growth.The total market cap surged from $340 billion in January to a new record of over $800 billion at the time of this writing, more than doubling its value.The growth in decentralized finance (DeFi), however, is even more substantial. Data shows that there’s currently more than $15 billion total value locked in DeFi protocols – an increase upwards of 2500% since March.With the...

The price of the Polkadot token (DOT) has skyrocketed by about 60% in a week to a new yearly high of $7.7. This development coincided with positive news from Binance as the leading crypto exchange announced a $10 million fund to support projects within the Polkadot ecosystem.Binance’s $10M Fund For PolkadotLaunched via an ICO in 2017, Polkadot’s network allows interoperability and scalability for all protocols that employ it. The project’s popularity has skyrocketed since mid-2020 after...

There has reportedly been yet another DeFi exploit, which resulted in massive declines for its native token. This time, the victim was Cover protocol, and its COVER token crashed by almost 80% on Binance within minutes.COVER has tanked by almost 80% before recovering to its current trading price. Regardless, the cryptocurrency is still down more than 50% from today’s high.COVER/BUSD. Source: TradingViewThe team behind the protocol has so far failed to provide any explanation for the crash,...

Yield farmers and DeFi token aficionados certainly had a merry Christmas thanks to 1inch, a relatively young and unknown token that in a matter of hours surpassed many other cryptocurrencies’ performance in the top 100 of cryptocurrencies with the largest market capitalization.1inch is a decentralized exchange aggregator that sources liquidity from various exchanges, making it possible to use its smart contract to spread a single transaction across multiple decentralized exchanges.The...