OKEx has frozen withdrawals, audit firms are experiencing a backlog of DeFi projects and the Trump administration is examining DLT for national defense. Top shelf Audit (back)logsCrypto code audit firms say they are swamped with decentralized finance (DeFi) projects. Three of the most well-regarded auditors in the space – OpenZeppelin, Quantstamp and Trail of Bits – told CoinDesk’s William Foxley they are all booked until at least Q1 […]
DeFi
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How many Libertarians do you think there are in the United States? Everyone, right? Everybody wants personal freedom and a limited government. Just listen to Twitter bots and the talking heads on the propaganda channels. Everybody votes their principles and is internally consistent in their logic. Long live Ayn Rand! Lex Sokolin, a CoinDesk columnist, is global fintech co-head at ConsenSys, a Brooklyn, N.Y.-based blockchain software […]
Bitcoin (BTC) fell 2% Friday, the most in three weeks, after the market was spooked by the announcement that the cryptocurrency exchange OKEx had suspended withdrawals because founder Mingxing “Star” Xu was reportedly taken into police custody. The executive is the holder of a private key needed to authorize withdrawals, and that became impossible since he was out of touch, the exchange wrote in a notice published early Friday morning. Officials with […]
If you’re an Ethereum project looking to get audits done before the close of 2020, it’s probably too late in the game. Audit firms CoinDesk spoke with said they are swamped with decentralized finance (DeFi) projects. The months-long backlog comes amid a sharp pullback across the $11 billion DeFi market, with most tokens down 19% over the last 30 days, according to Messari. Audit firm OpenZeppelin, […]
Cryptocurrency exchange Binance’s latest experiment to integrate decentralized finance with its centralized platform, Binance Smart Chain, is not here to beat DeFi, said the company’s CEO, Changpeng “CZ” Zhao. Instead, it aims to accelerate crypto and DeFi’s mass adoption. “Today, 99.9% of the money is still in fiat,” said Zhao in a one-on-one session with CoinDesk’s Leigh Cuen, during CoinDesk’s invest: ethereum economy virtual conference Wednesday. […]
Blockchain infrastructure firm Bloq is rolling out a new product to make it easier to invest in decentralized finance (DeFi) by asking users to stake their crypto, indicate a risk preference and letting the platform conduct the due diligence and actual farming for them. Announced on Wednesday, Bloq’s new platform, dubbed Vesper, is marketed as an easy-to-use platform for DeFi products. The platform will offer users […]
After the BitMEX enforcement action, are other noncompliant exchanges on the CFTC’s radar? “Maybe,” said Chairman Heath Tarbert. In an appearance Wednesday, the regulator largely deferred to his colleagues at the SEC on the question of whether ether in a proof-of-stake version of Ethereum would be a security or a commodity. He similarly punted on DeFi. “Let me just basically say how impressed I am by […]
Bitcoin’s price is slipping while the amount ether parked in DeFi is in neutral. Bitcoin (BTC) trading around $11,397 as of 20:00 UTC (4 p.m. ET). Slipping 1.3% over the previous 24 hours. Bitcoin’s 24-hour range: $11,313-$11,730 BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians. Bitcoin trading on Bitstamp since October 11.Source: TradingView Bitcoin’s price was able to crack $11,700 […]
Yearn.Finance is managing a leadership transition right now and appears to be doing so effectively. Andre Cronje, the prolific coder and creator of Yearn, said he’s quit the project – and decentralized finance (DeFi) altogether – out of frustration with its realities. “I’m not building anything at all anymore,” he told CoinDesk over Telegram on Oct. 1. “I do it because I’m passionate, but if people […]
A slowdown in cryptocurrency trading on so-called decentralized exchanges has helped to alleviate congestion on the Ethereum blockchain, at least temporarily mitigating concerns that the network was becoming overloaded. On Uniswap, the biggest decentralized exchange, or DEX, daily trading volumes have crashed to $224 million, versus a record high of $954 million on Sept. 1. “Low volatility in the crypto market as a whole has contributed […]
Crypto trader, analyst and operator Qiao Wang looks at bitcoin’s macro resilience and why DeFi is here to stay. Today on the Brief: Stimulus talk shutdown spooks markets House recommends antitrust actions but likely to get nowhere CBDC trial results from China Our main discussion is with trader and entrepreneur Qiao Wang. In this conversation, NLW and Qiao discuss: Bitcoin’s resilience in the face of a […]
Chinese tech companies were once seen as copycats of their Western peers: Alibaba was a knockoff of eBay and Baidu imitated Google. More recently, Chinese firms like TikTok and Huawei have established such dominant international positions that U.S. authorities have tried to hold them back. Now, the technological arms race is playing out in the cryptocurrency industry, where one Chinese company is taking on Ethereum, the […]
U.S. Securities and Exchange Commissioner Hester Peirce discussed some major trends in the digital asset world during a chat with journalist Laura Shin, at the LA Blockchain Summit on Tuesday. While the talk kicked off with Peirce’s letter of dissent against the recent SEC decision to levy a $6.1 million fine on Unikrn, the commissioner spoke about a range of topics including decentralised finance (DeFi), her […]
Ethereum’s highly anticipated 2.0 upgrade is poised to bring the network ever closer to fulfilling its original vision to be a “world computer” that plays host to a parallel, decentralized financial system. At Invest: Ethereum Economy on Oct. 14, we will address the ramifications for investors as decentralized finance takes the crypto world by storm. In a run-up to the event, our two-part CoinDesk Live: Inside […]
Institutional interest in bitcoin futures has plummeted as the DeFi explosion made carry trades less attractive, said Bequant’s Denis Vinokourov. Source link
Crypto legal experts join to discuss the U.S. government’s case against BitMEX and its implications for the broader ecosystem. Our main discussion explores the ramifications of the recent BitMEX charges. Yesterday, BitMEX was targeted with both civil and criminal complaints, with the CTO being arrested for violation of the Bank Secrecy Act. In this conversation, NLW talks to crypto legal experts Stephen Palley and Preston Byrne […]
The sudden takedown of BitMEX has cast a new light on Ethereum’s decentralized finance (DeFi) markets. On Thursday, the U.S. Commodity Futures Trading Commission (CFTC) and Department of Justice (DOJ) served the Seychelles-based crypto derivatives exchange with a slew of charges, arresting CTO Samuel Reed and seeking out CEO (and admitted DeFi degen) Arthur Hayes for violating the Bank Secrecy Act. While centralized exchanges (CEXs) reside […]
It all started with a couple of retweets. On September 28, Andrew Cronje, the head honcho at Yearn Finance, retweeted graphic designs for a new project called Eminence, so described by Cronje as a DeFi protocol for a “gaming multiverse.” The game is allegedly a spin-off of a 2016 kickstarter trading card game called Eminence: Xander’s Tales and may incorporate non-fungible tokens (NFTs). The retweets included […]
The attention may have been with DeFi when it was warm, but as the cold winds of COVID-19 return fears and election volatility blow, bitcoin is resuming narrative dominance. Our main discussion is a narrative shift from DeFi back to bitcoin. Over the summer, DeFi led the crypto charge. From growth in total value locked to narrative dominance to even leadership in the all important category […]
Bitcoin’s price tested $10,800 to close out September while despite some market deflation, investors continue pushing crypto into DeFi. Bitcoin (BTC) trading around $10,701 as of 20:00 UTC (4 p.m. ET). Slipping 0.27% over the previous 24 hours. Bitcoin’s 24-hour range: $10,657-$10,859 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin trading on Coinbase since September 28. Source: TradingView Bitcoin’s […]
That was the story in cryptocurrency markets in September as prices tumbled for digital tokens from “decentralized finance” (DeFi), the fast-evolving arena of blockchain-based lending and trading platforms. Chainlink, which supplies data feeds to DeFi systems, saw its LINK token fall 42% month to date, the worst return among digital assets in the CoinDesk 20. The DeFi market correction came at a time when traditional markets also were hit […]
As the limitations and costs of running decentralized finance (DeFi) apps on Ethereum continue to ride high, a growing list of projects are lining up on competing blockchains. Adding to this trend, Polkadot-based Reef Finance has closed a $3.9 million seed funding round for its cross-chain suite of DeFi services, the company announced Wednesday. Included in the round were NGC Ventures, AU21 Capital, QCP Capital, Kenetic […]
Hybrid blockchain platform Kadena plans to launch a new multi-chain decentralized exchange (DEX) in hopes of wooing business from congestion-plagued Ethereum-based rivals. Called Kadenaswap, the new DEX, unveiled Tuesday and set to debut late this year, will attempt to skirt Ethereum’s surging gas fees and perennial network congestion (caused in part by the explosive success of Uniswap) by providing decentralized finance (DeFi) traders with an alternative […]
When the DeFi degens caught wind of a new pre-release Andre Cronje project they piled in, only to get $16 million hacked away in a flash. DeFi is one of the breakout crypto categories of 2020. Indeed, yield farming and the grand game of “money legos” has been so profitable that many are following every new protocol with rapt attention. This is all the more true […]
It might be part of every job in crypto to anticipate and react to fast-moving developments that seemingly change the industry’s direction overnight. And apparently not even Changpeng “CZ” Zhao, the high-profile leader of Binance, the world’s largest cryptocurrency exchange, is immune to the industry’s capricious shifts. In a video interview with CoinDesk’s Muyao Shen, Zhao acknowledged that the emerging blockchain sector of decentralized finance, known as DeFi, […]
Bitcoin is moving off exchanges, has been less volatile than TLSA and broke its record for longest streak trading above five figures. Also: Bitwise’s bitcoin fund has more than doubled in size, KuCoin was hacked and Jack Dorsey dropped a few more hints about his decentralized social media standard, Blue Sky. Top shelf Accredited investor interestBitwise’s bitcoin fund has brought in $8.9 million, the single-largest increase in […]
After passing $2 billion in locked assets, there’s now more value in Uniswap than there was in the entire DeFi space on July 9. Source link
A boom in decentralized finance (DeFi) has turbo-charged returns for Pantera Capital’s bitcoin and mixed cryptocurrency hedge funds this year. From Jan. 1 to Aug. 31, Pantera’s bitcoin (BTC) fund gained 61%, its digital asset fund 168%, its initial coin offering (ICO) fund 323% and its long-term ICO fund 270%, thanks in large part to Yearn Finance’s YFI, Terra’s LUNA, Polkadot’s DOT, Flexa’s AMP and Ampleforth’s […]
BASED has a new method for aligning decentralized finance (DeFi) projects with each other. At its core is a smart contract called Moonbase, CoinDesk has learned. Based.Money is a project of the Ghouls, a loose consortium of crypto developers, artists, designers and meme makers. Friday night, the outfit will release its newest project since BASED, the rebasing game dropped this summer during the boom of Weird […]
Buying volume is pushing bitcoin higher. Meanwhile, DeFi investors continue to seek places to park crypto for steady yield. Bitcoin (BTC) is trading around $10,730 as of 20:30 UTC (4:30 p.m. EDT). Gaining 0.50% over the previous 24 hours. Bitcoin’s 24-hour range: $10,550-$10,795 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin trading on Coinbase since Sept. 23(TradingView) Bitcoin’s price […]
The super-charged trajectory of the cryptocurrency industry is translating to faster growth at the publicly traded digital-asset brokerage Voyager Digital, where revenue this quarter is tracking at an eightfold increase over the prior 12 months’ average pace. Voyager CEO Steve Ehrlich told CoinDesk in a Zoom interview that the company’s on pace for revenue of about $2 million during the fiscal first quarter that ends Sept. […]
On Thursday, ConsenSys-incubated startup Liquality released a new wallet that lets you atomically swap digital assets directly from your browser. The Liquality Atomic Swap Wallet can act as a trustless alternative to current methods of porting cryptocurrencies into the decentralized finance (DeFi) space due to the peer-to-peer (P2P) nature of atomic swaps, Liquality co-founder Thessy Mehrain told CoinDesk in a phone interview. The wallet interacts similarly […]
As decentralized finance (DeFi) balloons to a roughly $10 billion market, infrastructure builders are coming up with ways to reduce the associated risks. Announced Wednesday, wallet and custodial technology provider Trustology has added a “DeFi Firewall” to its suite of institutional-investment tools. The “Firewall” is basically a set of rules or filters selected by a fund, specifying which DeFi protocols or decentralized exchanges they consider kosher. […]
The upcoming U.S. presidential election has become one of the most contentious in history, fraught with searing divisions over everything from the economy to race to the continued health of democracy itself. So it’s not surprising that Wall Street options traders are now pricing in expectations of elevated market volatility around the November election. Analysts for the investment banking giant Goldman Sachs noted earlier this month that price swings of […]
Ethereum data firm Dune Analytics, which has stood out from the pack for its focus on decentralized finance (DeFi) projects, has raised $2 million from a mix of seasoned crypto investors and DeFi angels. Announced Wednesday, the seed round was led by Dragonfly Capital and included Multicoin Capital, Coinbase Ventures and Digital Currency Group (the owner of CoinDesk). The list of angel investors in the round […]
APY.Finance, a yet-to-launch decentralized finance (DeFi) yield farming aggregator, announced Monday that it has completed a $3.6M seed funding round joined by investors including Arrington XRP Capital, Alameda Research, Cluster Capital and CoinGecko. Source link
DeFi is short for “decentralized finance,” an umbrella term for a variety of financial applications in cryptocurrency or blockchain geared toward disrupting financial intermediaries. DeFi draws inspiration from blockchain, the technology behind the digital currency bitcoin, which allows several entities to hold a copy of a history of transactions, meaning it isn’t controlled by a single, central source. That’s important because centralized systems and human gatekeepers […]
Kava Labs has launched its first application: a yield-generating decentralized finance (DeFi) platform for bitcoin (BTC) and other non-Ethereum assets. The product, called Harvest and built on the Kava blockchain, allows users to stake their crypto so it can be lent out to other users. Harvest will initially support deposits of BTC, BNB, BUSD and XRP. Soon, Kava Labs plans to debut automated market makers (AMMs) […]
The Chicago DeFi Alliance, launched in April 2020, is poised to help members make a killing from the recent decentralized finance (DeFi) craze. So many billions of dollars worth of assets are now cycling through various DeFi projects, at such erratic rates, that while you’re reading this the estimates are probably changing. Suffice it to say, the Chicago DeFi Alliance now has roughly 55 members, including […]
Uniswap’s governance token, UNI, which was launched Wednesday night, has been on a roller-coaster ride in the past 24 hours, but despite the price volatility the total market cap of UNI could make the automated market maker (AMM) one of the most valuable decentralized finance (DeFi) projects in the coming years. Based on 1 billion tokens outstanding and a current market price of $3.50, the project […]
Ethereum whales undoubtedly drive the decentralized finance (DeFi) movement, but many people making money on DeFi trends are just regular Joes, so to speak. One such trader, who asked to go only by Joe, is a math student at a Canadian university. Just by playing with Ethereum software and his own calculations, he managed to make hundreds of thousands of dollars in 2020. This wasn’t his […]
Blockchain-based lending and trading systems known as “decentralized finance,” or DeFi, have dominated recent cryptocurrency-market headlines, with collateral locked into the semi-automated platforms surging 10-fold this year to more than $9 billion. DeFi trading platforms like Uniswap, Curve and Balancer have appealed to cryptocurrency traders with their low cost and ease of use, and they’re now starting to steal a growing and no-longer-negligible share of market trading volumes from bigger, established exchanges like Binance, Coinbase, Huobi and OKEx. […]
Bitcoin is making gains not seen since early September; the amount of BTC locked in DeFi hits six figures. Bitcoin (BTC) trading around $10,778 as of 20:00 UTC (4 p.m. EDT). Gaining 0.70% over the previous 24 hours. Bitcoin’s 24-hour range: $10,252-$10,950 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin trading on Coinbase since September 13. Source: TradingView Bitcoin […]
Decentralized finance (DeFi) has been grabbing the headlines and capturing the imagination of traders in recent weeks and some of the biggest centralized cryptocurrency exchanges seem to be afraid they’re missing out. That’s why they are now trying to reposition themselves as integral parts of this exploding sector, particularly as traders in China grow more interested in DeFi. Huobi announced Tuesday it was adding 10 more […]
Data company DeFi Pulse and investment-minded Set Protocol have created a permissionless index of the very best DeFi tokens, called the DeFiPulse Index. DeFi Pulse has become the key source of information for assessing which projects are leading and which ones are rising, judged by the total amount of crypto staked on each one, which the company calls Total Value Locked (TVL). “We want a way […]
The already highly priced YFI governance token for yEarn.Finance has jumped an additional $6,000 on the news it’ll be listed on Coinbase Pro. Source link
This column has written in recent weeks about the surprising possibility that cryptocurrency markets might have become the new home for capitalism, in an environment where central banks and governments are intervening deeply in markets while picking corporate winners via emergency aid. If anything, the ridiculousness of the recent weeks’ saga involving the deliciously named startup protocol SushiSwap shows that not only are market signals alive and well in digital assets, […]
Crypto.com’s new Defi Swap product will provide yet another platform on which users can token swap and yield farm. Source link
Square is pushing back against crypto patent hogs, Binance is doubling down on DeFi and what’s the story with crypto’s latest attempt at a backdoor public listing. Top shelf Patent posseSquare, the bitcoin-friendly payments company, is building an “alliance” to pool crypto patents and preserve the industry’s open-source spirit. The non-profit Cryptocurrency Open Patent Alliance (COPA) aims to stop companies from locking up useful technologies in patents, a […]
Shiv Malik is the author of two books, the co-founder of the Intergenerational Foundation think tank and a former investigative journalist for the Guardian. He currently evangelizes about a new decentralized data economy for the open source project Streamr. Last week, the eminent anthropologist and co-founder of the Occupy movement, David Graeber, passed away aged just 59. His tome on the origins of money and finance, […]
Binance continues to chase after decentralized finance, known as DeFi, by giving its new Binance Smart Chain access to its centralized exchange. Source link
Bitcoin was rising for a second straight day, to about $10,281, after a rapid sell-off earlier in the week. “In a flash, investors have gone from running for the hills to buying the dip,” Mati Greenspan, founder of the cryptocurrency and foreign-exchange analysis firm Quantum Economics, told clients in an email. The crypto investment firm Stack Funds wrote in a weekly report that prices appear to […]
Uniswap fork SushiSwap has begun migrating $830 million of crypto assets to a new community-owned automated market maker (AMM). The process began at approximately 14:15 UTC, when testing the migration first began. The event is perhaps the largest test to date of a growing mood in DeFi: that all major projects should be community-owned. As of now, Uniswap is a standout market leader without a governance […]
Huobi, the third-largest crypto exchange by derivatives trading volume, is now giving users a way to earn relatively attractive interest rates on a bitcoin or USDT savings account. The product, launched Sept. 7, is the exchange’s latest bid to beat its competitors as it boosts its assets under management. Huobi’s addition targets retail traders less interested or involved in day-to-day trading activities but still willing to […]
NGC Ventures, Hashed, CMS Holdings, Genesis Block and Kenetic Capital also led the round. Source link
Yearn.Finance aspires to be the gateway to a bevy of yield-generating products in the Ethereum ecosystem. After a rapid ascent in August 2020, there is now $650 million worth of crypto assets staked in Yearn, seeking the best returns in the booming decentralized finance (DeFi) sector. The prospect of what one observer called an “intuitive interface to all of DeFi” is what makes Yearn and its […]
Bitcoin is stuck around $10,000 with little price action while some ether holders have pulled out of the DeFi ecosystem. Bitcoin (BTC) trading around $10,014 as of 20:00 UTC (4 p.m. ET). Slipping 1.1% over the previous 24 hours. Bitcoin’s 24-hour range: $9,920-$10,439 BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians. Bitcoin trading on Coinbase since Sept. 5.Source: TradingView Scant […]
A Lightning-based derivatives platform took in pre-seed capital, a new blockchain analyst will try to track down missing funds from the defunct QuadrigaCX exchange and CoinDesk looks at how retail interest in DeFi compares to the infamous ICO bubble. Top shelf DeFi interest?Retail interest in decentralized finance (DeFi) applications remains quite low compared to the initial coin offering (ICO) bubble, measured by Google search queries, CoinDesk’s Omkar Godbole reports. […]
eToro’s GoodDollar initiative will provide a universal basic income for some of the world’s poorest by incentivising people to yield farm on its platform. Source link
Decentralized finance (DeFi) has exploded in 2020, but retail interest in the space remains quite low, if measured by Google search queries. These suggest it may still be too early to draw parallels between DeFi’s growth and the initial coin offering (ICO) bubble of the final months of 2017 and early 2018. Indexed to the peak of searches for “ICO,” searches on Google Trends for the […]
SushiSwap investors were handed a raw deal over the weekend after the pseudonymous founder of the $1.27 billion, 1.5-week-old decentralized finance (DeFi) protocol cashed out. A fork of DeFi darling Uniswap, SushiSwap is the brainchild of a pseudonymous founder, Chef Nomi, who took the former project an extra yard by adding rewards for providing liquidity to the exchange through a liquidity provider token (LP), called sushi […]
Bitcoin is in bear territory for the third straight day and investors are still looking to DeFi to capture gains during the dump. Bitcoin (BTC) trading around $10,606 as of 20:00 UTC (4 p.m. ET). Slipping 0.90% over the previous 24 hours. Bitcoin’s 24-hour range: $9,894-$10,081 BTC below its 10-day and 50-day moving averages, a bearish signal for market technicians. Bitcoin trading on Coinbase since September […]
A group of VC heavyweights and crypto entrepreneurs, including Blockfolio founder Ed Moncada, are backing a new risk management tool for the exploding decentralized finance (DeFi) space. Announced Thursday, Cozy Finance has raised a $2 million seed round, led by Electric Capital and including Variant Fund, Dragonfly Capital, Robot Ventures, Slow Ventures, Volt Capital, Spencer Noon, Moncada and others. The team attempting to bring some order […]
A look at the subculture and ethos driving the white-hot DeFi space, which has grown from $2 billion to $9 billion in total value locked in just two months. Today on the Brief: Traditional markets falter, led by tech stocks Bitcoin falls under $11,000 for the first time since July Stablecoins mint $100 million daily since mid-July Our main discussion is about DeFi’s “degens.” NLW talks […]
William Mougayar is the author of “The Business Blockchain,” producer of the Token Summit and a venture investor and adviser. DeFi has grown to a point where its mindshare now far exceeds its relatively small crypto market share. It has benefited from a catchy name, and continues to spawn catchy words like “sushi.” DeFi sounds better than what it is: “automated algorithmic financial products with no central […]
You’re reading First Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team and edited by Bradley Keoun, First Mover starts your day with the most up-to-date sentiment around crypto markets, which of course never close, putting in context every wild swing in bitcoin and more. We follow the money so you don’t have to. You can subscribe here. Price Point Bitcoin (BTC) was up 2.2% early […]
Decentralized finance (DeFi) started out by imitating the regular financial world, but the way its pieces can be mixed and matched has become so easy that new entrants are starting to get strange. Yearn Finance (YFI), YAM, Spaghetti, Based, whatever today’s variant is – the “Weird DeFi” cohort keeps growing. Yearn.Finance seems to have been a key shift in the market. It’s effectively a robo-adviser for […]
Oasis Network, a privacy-centric data-sharing network, said it will integrate Chainlink’s price feeds into its network. Source link
Framework Labs says it’s already playing a key role in projects including Uniswap and Chainlink. Source link
Bitcoin bounced back from Thursday’s drop at a time when more of the cryptocurrency is locked in DeFi than ever before. Bitcoin (BTC) trading around $11,511 as of 20:00 UTC (4 p.m. ET). Gaining 2.2% over the previous 24 hours. Bitcoin’s 24-hour range: $11,231-$11,552 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin trading on Coinbase since August 26. Source: […]
The bitcoin market bottomed out around $11,100 before bouncing back; DeFi continues an upward trend, garnering interest from traders and perhaps creating new ones. Bitcoin (BTC) trading around $11,467 as of 20:00 UTC (4 p.m. ET). Gaining 1.2% over the previous 24 hours. Bitcoin’s 24-hour range: $11,102-$11,593. BTC above its 10-day moving average but below the 50-day, a sideways-turning-bullish signal for market technicians. Bitcoin trading on […]
Market moves The explosive growth of decentralized finance, or DeFi, on the Ethereum blockchain has brought unwanted attention to the recent surge in congestion on the network, with a resulting jump in transaction fees. There’s another consequence for crypto traders: Rising volatility in prices for ether, the blockchain’s native cryptocurrency. That’s especially true when ether’s volatility is compared with that of bitcoin. You’re reading First Mover, CoinDesk’s […]
Decentralized finance (DeFi) credit market Aave has pulled ahead of stablecoin mint MakerDAO for the title of most collateral staked on Ethereum, according to DeFi Pulse. Aave now has $1.47 billion-worth of different crypto assets staked for credit lines, while MakerDAO has $1.45 billion in total value locked (TVL). “Reaching the highest TVL was possible due to the wide range of developers building on top of […]
Beijing-based decentralized finance (DeFi) aggregator Bella Protocol announced Monday a $4 million seed round led by Arrington XRP Capital. Source link
Donna Redel is the former chairman of COMEX, a board member of New York Angels and an Adjunct Professor of Law at Fordham Law School. Olta Andoni is an Adjunct Professor at Chicago-Kent College of Law and Of Counsel at Zlatkin Wong, LLP. A corner of the crypto universe representing less than 1% of total market capitalization of crypto assets has been grabbing the headlines since […]
Unsecured borrowing has come to decentralized finance (DeFi). Aave, a DeFi money market that allows users to earn interest on cryptocurrency and borrow against it, introduced credit delegation in early July. This service allows someone with a lot of collateral deposited on Aave and no desire to borrow against it to delegate their credit line to a third party they trust. In return for essentially co-signing […]
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source link
CORRECTION (Aug. 20, 13:18 UTC): Adds context at the top of the story to make it clear it’s the price of a single YFI that’s more expensive than a single BTC and that the overall market value of bitcoin continues to be vastly greater. Also notes other tokens are priced above bitcoin, but YFI is the only one with notable trading volume. Though the total market […]
Bitcoin’s price is trending up while August has been a hot month for the cryptocurrency in decentralized finance. Bitcoin is on the uptrend, going as high as $11,891 with buyers outnumbering sellers in the market Thursday. ”This is similar to what we saw on Sunday, Aug. 9 – a quick move from $11,500 to $12,000 and then back to $11,300,” said John Willock, CEO of crypto […]
Users of crypto exchange Binance can now stake Dai and Kava as the exchange’s decentralized finance (DeFi) staking platform goes live. Binance’s DeFi staking program was first announced Wednesday with Dai, the stablecoin generated by loans on MakerDAO. The Binance initiative aims to tap into this year’s booming DeFi market by offering the ability for users earn staking rewards (akin to interest) on select digital assets. […]
Markets have responded well to Algorand’s plans to get in on the DeFi action – the native ALGO token has experienced a jump in price. Source link
Prices for ren, the token for the RenVM DeFi network, surged by more than 100% over the past week. That’s because the total amount of renBTC, a tokenized bitcoin that is locked in RenVM, broke 10,000 on Monday, according to data collected by DeFi Pulse. Source link
Price Point It’s been two steps forward, one step back for bitcoin (BTC) over the past couple months. Prices were down early Wednesday for a second straight day after pushing earlier this week past $12,000 to a new 2020 high. The price move accelerated as traders got hit with margin calls on the BitMEX exchange. You’re reading First Mover, CoinDesk’s daily markets newsletter. Assembled by the CoinDesk Markets Team, First […]
The DeFi craze continues as investors stake $200 million in a new yield farming protocol that’s not even 12 hours old yet. Source link
The Mumbai-based crypto exchange WazirX, one of the biggest in India, recently announced it is developing a decentralized finance (DeFi) product in partnership with Matic Network, a blockchain scalability platform. “We are launching an automated market maker (AMM) protocol and partnering with Matic Network to launch the protocol”, the exchange, a subsidiary of Binance, said in a blog post on Saturday. Automated market makers are algorithmic […]
Bitcoin made a major gain Monday while investors have locked over $6 billion in crypto into various DeFi services. Bitcoin (BTC) trading around $12,332 as of 20:00 UTC (4 p.m. ET). Gaining 4.1% over the previous 24 hours. Bitcoin’s 24-hour range: $11,774-$12,485 BTC slightly above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin trading on Coinbase since August 15.Source: TradingView The […]
More bitcoins were tokenized than mined this Sunday, decentralized finance is coming to the Bitcoin system and a former Prudential Securities CEO thinks crypto is a safe bet. You’re reading Blockchain Bites, the daily roundup of the most pivotal stories in blockchain and crypto news, and why they’re significant. You can subscribe to this and all of CoinDesk’s newsletters here. Top shelf Bitcoin’s DeFiDG Lab recently open sourced its proposal […]
Huobi has launched a new consortium with MakerDAO and Compound to promote decentralized finance. Source link
One of the quietest yet best-funded bitcoin companies in the world is gearing up to enter the 2020 decentralized finance (DeFi) bull run. In July the DG Lab conglomerate, which like Ethereum powerhouse ConsenSys includes both an investment arm and an adjacent software company, open sourced its proposal for self-sovereign derivatives trading on the Bitcoin blockchain, using the Lightning Network. These contracts turn bitcoin, the asset […]
Paul Brody is a Principal and Global Blockchain Leader at EY. Decentralized finance (DeFi) services are booming, but there’s indication it’s recycling the same money around and around. To grow this market, enterprises need to get involved – and that won’t happen until users have privacy and security. In the old-school world of CeFi (centralized finance) it’s common to dismiss DeFi because it is designed to […]
Bitcoin hit $12,000 but then fell as long derivatives traders were wiped out. Meanwhile, DeFi lending continues to grow. Bitcoin (BTC) trading around $11,884 as of 20:00 UTC (4 p.m. ET). Gaining 1.8% over the previous 24 hours. Bitcoin’s 24-hour range: $11,468-$12,084 BTC above its 10-day and 50-day moving averages, a bullish signal for market technicians. Bitcoin trading on Coinbase since Aug. 8.Source: TradingView Bitcoin was […]
Traders are expecting bitcoin to go higher. DeFi is surging in web traffic. And Cosmos is alive and well, despite internal feuding. No cultsCosmos, the blockchain interoperability project that turned a small ICO into a thriving ecosystem, almost came to an end in February 2020 when the project’s co-founders engaged in a heated feud. It is now a testament to open-source collaboration and teamwork. “The Cosmos […]
Call it a “gentlecoin,” perhaps? A new decentralized finance (DeFi) project aimed at softening volatility has closed a $1.68 million seed round led by Paradigm, with participation from Standard Crypto, Compound founder Robert Leshner and Variant Fund, from a16z alum Jesse Walden. Reflexer Labs is building a new asset called rai (RAI) that’s meant to follow the price movements of ether (ETH) but more gradually. “I […]