Tag Archives: defi

During the past 24 hours, Bitcoin tanked to $15,100, but it has recovered since then and trades around $15,400. Most high and mid-cap altcoins have outlined substantial gains and have reduced BTC’s dominance to below 64%. Bitcoin Price Slides But Recovers After peaking at nearly $16,000 last week, Bitcoin has struggled with maintaining such a high price tag. It dropped below $14,300 a few days after, but managed to initiate a false breakout towards $15,800 when news broke...

The milestone comes as TVL across all DeFi protocols hits a record high of $13 billion according to Defi Pulse. So far this month, over $2 billion has been added to DeFi protocols in terms of dollar value crypto collateral, but some of that may be attributed to the increase in Ethereum prices. In terms of ETH, there is now 8.5 million, or 7.5% of the total supply, locked in DeFi and 3.3 million ETH on Uniswap alone. Uniswap, The King of DeFi Uniswap remains at the top of the...

The decentralized platform aimed at lowering risks, costs, and access to DeFi dubbed Union has raised nearly $4 million from several well-known industry giants. The project plans to utilize the funds to develop and launch a set of tools that will further reduce the DeFi risk levels. UNION Raises $3.9M In a press release shared with CryptoPotato, the DeFi platform announced it had raised the funds from popular names such as Alameda Research, Spark Digital Capital, Solidity...

A MetaMask user, attempting to swap Ethereum for a DeFi token, paid over $9,000 transaction fees while transferring only $120 worth of ETH. The user has reached out to the mining pool that processed the transaction for assistance but has yet to receive a response. A Costly ETH-DeFi Swap The user, going by the nickname ProudBitcoiner, explained his rather dire situation on Reddit. He was using the popular online wallet MetaMask to swap 0.2955 wrapped Ether (WETH) for 531 Chi...

The leading cryptocurrency exchange Binance has helped recover almost all $345,000 funds stolen due to an exit scam conducted by an automated market maker (AMM) dubbed Wine Swap. Binance Security Team Recovers 99.9% of Stolen Funds In a press release shared with CryptoPotato, the popular exchange shared that Wine Swap launched on Binance Smart Chain as an AMM platform on October 13th, 2020. However, just an hour after the product release, the team behind it “pulled the rug,”...

Bitcoin is doing rather well as of late, but among all the reasons why, one of them has really got advocates scratching their heads. It looks like the world’s number one cryptocurrency by market cap is getting a lot of support from its biggest competitor: Ethereum.Ethereum Has Really Moved BTC ForwardAs the second-largest cryptocurrency in the world, Ethereum was introduced in 2015, roughly six years after bitcoin was first brought to the trading table. The currency is widely recognized for...

CryptoPotato recently had the opportunity to interview Brian Kerr – the CEO of the DeFi project Kava. Built on Cosmos as a proof-of-stake blockchain, Kava allows users to stake tokens and participate as validators in the network. The project saw the light of day as an IEO on Binance Launchpad. Kerr’s project description said it’s a “stand-alone blockchain that has interoperable bridges, Chainlink oracles, unique validators, and other infrastructure that allows it to provide a...

Decentralized finance exploded in popularity this year and especially during and after the summer. Apart from numerous DeFi-oriented protocols, the cryptocurrency space saw the emergence of multiple new decentralized exchanges. The sharp increase in demand led to rapid project developments and impressive volume growth. However, the speed compromised user security on some occasions. Consequently, the cryptocurrency exchange analytics resource CER decided to compile a report on...

Owning to the Bitcoin and the aggregated cryptocurrency market’s recent roaring rally, BTC, and crypto hedge funds have reportedly registered profits upwards of the 100 percent mark. This comes amid the rising sentiment of sidestepping banks to avail quick loans through digital assets. What does this say about the cryptocurrency industry? Bitcoin And Cryptocurrency Hedge Funds Raked In A Lot Of Moolah As per Reuters’ latest report, Christmas for digital currency-based hedge...

The fiasco with Harvest Finance continues with full force. The team has put a $100,000 bounty for the first person or team to reach out with information about the hacker. It’s also important to note that the attacker has decided to return $2.5 million to the deployer contract of Havers Finance. However, given that the total amount of stolen funds is close to $24 million, the returned sum represents a tight 10% of it all. Developments in the Making: $2.5 Million Returned to...