There is no doubt that the hottest thing in the crypto industry at the moment is decentralized finance. However, Ethereum as its foundation still hasn’t caught up.Another day has heralded another all-time high for the total dollar value of collateral locked up in DeFi markets. That milestone has just hit $2.15 billion as more investors lock up their crypto, according to Defipulse.com.The Year of Decentralized Finance (DeFi)In less than a month, the amount of collateral locked into smart...
Read More »DeFi Tokens Lead Altcoin Season 2020 as Total Value Locked Crossed $2 Billion
Decentralized finance tokens have outperformed their crypto brethren over the past month, with some hitting two-year highs. As the nascent industry keeps growing, which ones will be next?DeFi has been the darling of the crypto industry over the past month, doubling in total value locked (TVL) in just a few weeks. A new all-time high of $2.12 billion has just been reached, according to Defipulse.com. This represents the dollar equivalent value of all the crypto collateral locked in smart...
Read More »Ethereum DeFi: Aave Google Searches Explode, But Not For Why You Think
The sudden rise of decentralized finance (DeFi) applications in 2020 has rearranged the cryptocurrency landscape. In a little over two years, a combined sum of $2 billion has made its way into various DeFi protocols, while giving birth to the “yield mining” meme in the meantime.With this in mind, it perhaps shouldn’t be a surprise to learn that searches for Aave have exploded on Google Trends. Aave (LEND) is the third-largest lending protocol on Ethereum, with over $138 million locked in, and...
Read More »Cosmos, Polkadot and Terra Announce a Joint DeFi Protocol with High-Interest Yield
Three blockchain projects have teamed up to develop a Decentralized Finance (DeFi) savings project that allows investors to earn high-interest yields on stablecoin deposits, according to a Monday release.Anchor Savings ProtocolDubbed Anchor, the savings protocol is a joint venture between interoperable, scalable blockchain network Cosmos, decentralized web 3.0 blockchain interoperability network Polkadot, and decentralized stablecoin Terra.Per the announcement, the partners claim Anchor’s...
Read More »Justin Sun Announces Launch of New TRON-Based DeFi Products
Justin Sun appears keen to see Tron make a splash in the emerging decentralized finance (DeFi) scene. Sun Eyes Tron-based DeFi ExpansionTweeting on Friday (July 3, 2020), the Tron CEO announced three new DeFi products, namely; JUST Lend, JUST Swap, and JUST BTC. According to Sun, the JUST (JST) token will serve as the native coin for the TRON ecosystem. As part of the tweet, Sun revealed that “JUST Lend” will enable TRON users to earn interests or borrow assets against collateral. “JUST...
Read More »Kyber Network (KNC) Price Skyrockets 28% Today, Here Is Why
Kyber Network’s native token KNC has extended the aggressive rally that started to accelerate at the end of June. On Friday alone, the token has gained over 27% against the US dollar. The surge comes several days ahead of Kyber Network’s next protocol update planned for July 7.KNC Hits Highest Level in 2 YearsOn Friday, KNC has become the best performing cryptocurrency in CoinMarketCap’s top 100 list by a margin. It gained 27% and it’s trading at $1.89 at the time of this writing. The token...
Read More »Bitcoin Maintains $9K as DeFi Altcoins Skyrocket: The Weekly Crypto Market Update
While Bitcoin remains rangebound, to an extent, last week had some very exciting trading days. Towards the beginning of the week, BTC was trading at around $9,200 until last Saturday when it suddenly dropped and touched a low of $8,833, which remains the lowest point for the week. From there, BTC recovered and even made a failed attempt to climb back above $9,300.As it came to no fruition, the cryptocurrency experienced another sharp decline, losing $300 in minutes yesterday. It consolidated...
Read More »$1.77 Billion TVL: DeFi Markets Hit All-Time High With as Yield Farming Flourishes
Decentralized finance markets have reached their highest ever levels in terms of the total amount of crypto collateral locked in smart contracts across the nascent ecosystem.DeFi: The Quickest Growing Sector in CryptoThe recent liquidity farming craze has catalyzed DeFi markets so much that they have now become the quickest growing sector in the crypto industry. Total value locked (TVL), which is a measure of how much crypto collateral is locked up in smart contracts, has just hit an all-time...
Read More »DEX Volume Eclipses $5 Billion in First Half of 2020, 400% Up From Last Year
The trading volume of decentralized exchanges (DEX) has gone past the $5 billion milestone in the first six months of 2020, which is a significant increase from the 2019 performance.June 2020 Sets DEX Trading Volume ATHIn a tweet on Wednesday, Dune Analytics informed that the DEX trading volume for the first half of 2020 totaled about $5.1B. This figure represents a five-fold increase from the same period in 2019, providing further evidence of the significant growth of DEX platforms.We are...
Read More »Bitcoin Fails at $9,300 as DeFi Altcoins Surge: Thursday’s Price Watch
Bitcoin attempted to conquer the $9,300 but to no fruition. The price pulled back and failed to breach the level. Meanwhile, the DeFi market continues to boom, with numerous projects marking double-digit daily increases.Bitcoin Price Fails at $9,300Bitcoin didn’t manage to claim $9,300 yesterday and has since retraced to its current trading level at around $9,200.As CryptoPotato reported, this is a vital level to watch in the short-term and should provide a good indication of how confident...
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