Tag Archives: ethusd

An average of $15 million worth of ETH has been locked into Ethereum’s DeFi protocols each day for the past week. That equates to more than four times the amount of Ethereum, which is produced every day as a result of mining.Ethereum’s DeFi Protocols See Huge InfluxAccording to data from DeFiPulse.com, over $500 million entered various DeFi protocols in the past seven days, averaging just over $78 million per day. Lock-ins of ETH specifically numbered 461,000 in that time, equating to an...

Recent data indicates that Ethereum miners prefer holding their mined coins and have increased their balance in the past few weeks. At the same time, the number of ETH addresses containing from 100,000 to 1,000,000 coins have jumped by nearly 5% in June alone.Ethereum Miners HODLBecause of the current proof-of-work consensus algorithm that Ethereum employs, the network relies on miners to use their time and processing power to solve cryptographically difficult puzzles. If successful, miners...

Bitcoin and alternative cryptocurrencies have become largely correlated over the past couple of years. Whenever there’s a serious move in the price of BTC, altcoins are almost always following the lead.A well-known startup investor and trader, Qiao Wang, took the opportunity to comment on the matter, outlining the reason for this correlation.Why Bitcoin and Alts Are Correlated?According to the specialist, the correlation between Bitcoin and alternative cryptocurrencies has a lot to do with...

The sudden jump of total value locked on the DeFi platform Compound has caused a flippening event in the decentralized finance sector. The TVL on Compound surpassed MakerDao’s as of yesterday, and the gap continues expanding today.Compound Overtakes MakerDAOMakerDAO has been the predominant force for total value locked for years, according to data from the DeFi monitoring resource – DeFi Pulse. Its influence over the entire marker was so unambiguous that the website tracked “Maker Dominance,”...

Vitalik Buterin, the co-founder of Ethereum, has recently stated that interest rates on decentralized finance protocols that are significantly higher compared to those in traditional finance come with unstated risks attached.Vitalik Buterin on High DeFi Interest RatesThe co-founder of Ethereum and one of the most prominent members of the cryptocurrency community, Vitalik Buterin, recently took it to Twitter to comment on high yields and interest rates associated with Decentralized Finance...

The price of Compound (COMP) tokens is seeing a massive surge amid a manic week for the decentralized finance (DeFi) project, which included a listing announcement by U.S. crypto exchange giant Coinbase.Compound TVL Crosses $400M TVL MilestoneWith the number of lenders on the Compound protocol increasing rapidly, data from DeFiPulse shows the project crossing the $400M mark in total value locked (TVL). Barely a week ago, this figure stood at $100 million. Compound becomes the second lending...

BitcoinBitcoin saw a period of sideways movement over the past week as it dropped by a small 0.5%. The cryptocurrency has pretty much traded between $9,600 and $9,200 over the past seven days as it remains above the rising trend line support.So long as BTC can continue above this rising trend line, the bullish trend would be intact.Looking ahead, if the buyers push above $9,600, the first two levels of resistance lie at $9,815 and $10,000. Above this, additional resistance is found at $10,226...

Ethereum dropped by a small 1% over the past 24 hours as it fell to $232.The cryptocurrency is still trading above a rising trend line that has been in play since mid-March 2020.Against Bitcoin, Ethereum found support at 0.0243 BTC as it looks to tackle 0.025 BTC again.Key Support & Resistance LevelsETH/USD:Support: $225, $215, $210.Resistance: $245, $250, $265.ETH/BTC:Support: 0.0243 BTC, 0.0239 BTC, 0.0235 BTC.Resistance: 0.025 BTC, 0.0253 BTC, 0.026 BTC.ETH/USD: Ethereum Bullish...

The French video game company Ubisoft just launched an Ethereum-based collectible game called Rabbid Tokens. All profits of the new game will be donated to causes, supported by the United Nations Children’s Fund (UNICEF)Raving Rabbids To The RescueEveryone who has ever played 5 minutes of the game knows it’s insanely fun and captivating. At least for kids from 5 to 50. In this case, the highly popular video game characters are the main incentive for collecting financial support for a greater...

A popular blockchain security company finally revealed who was the sender of last week’s Ethereum transactions with abnormally high fees.Reportedly, it’s a small South Korean cryptocurrency exchange that pays little to no attention to its security protocols.The BackstoryLast week, CryptoPotato reported on two transactions with abnormally high fees that took place on Ethereum’s network. Both of them were sent out from the same address. The first carried 0.55 ETH and paid a fee of 10,668 ETH,...