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DeFi

22% UniSwap (UNI) price drop doesn’t faze traders

Earlier today Yearn.finance (YFI) and Ether (ETH) rose sharply after Uniswap’s governance token UNI plunged 22% from $8.00 to $6.80.Cryptocurrency daily market performance snapshot. Source: Coin360UNI, which launched less than 48 hours ago, has rallied from around $1.00 to $8.00 in a short period. After an impressive eight-fold gain, the token started to pull back but trading volume suggests traders have their eyes set on higher prices.YFI and ETH rallied as UNI corrected As...

DeFi platform bZX sees new $8M hack from one misplaced line of code

The Fulcrum DeFi protocol developed by bZX, which had recently relaunched after a series of hacks in February forced the team to regroup, was hacked once again to the tune of about $8 million.According to the incident disclosure by bZX, the culprit is one line of code placed at the wrong location in the contract for its “iTokens,” the token representing a user’s share in the pool of supplied assets — essentially a...

Elastic Finance makes its case in the DeFi discussion

The DeFi frenzy has been making the headlines in the last few months, as crypto exchanges rush to list popular tokens within the decentralized finance sphere. However, another concept called “Elastic Finance” has emerged, which could be the next generation of financial platforms that can use unique supply elastic assets, said an expert.During an interview with Cointelegraph, digital asset protocol firm Ampleforth Foundation CEO Evan Kuo said that Elastic Finance began with its...

Rumors of DeFi’s demise have been greatly exaggerated: weekly recap

DeFi projects have been dominating headlines as of late, and the unexpected departure by a high-profile founder had ripple effects throughout crypto markets. Here are the top stories from the past week:SUSHI’s parabolic surge upward came to an abrupt halt when the project’s head cashed in all his chips earlier this week, and the resulting selloff knocked the rest of DeFi, ETH and Bitcoin (BTC) down from their perches, some of which were...

DeFi is a ‘once in a decade investment opportunity’: True or false?

Former Messari Head of Product and well known crypto trader Qiao Wang believes the nascent DeFi sector has enormous growth potential.DeFi has been on a tear this year, with the total value locked growing from under $1 billion to just under $8 billion today. Since the beginning of 2020, TVL across all DeFi platforms in dollar terms has increased over 1000% and it does not look like slowing down anytime soon.Wang compared this...

Discussing BTC’s next big move

The price of Bitcoin (BTC) has been ranging between $9,800 and $10,500 for nearly a week after a short fall from almost $12,100 seen on Sept. 1. As BTC struggles to show any distinctive price movement, traders are generally cautious.Over the medium to long term, traders expect Bitcoin to recover and perceive the ongoing consolidation phase as a healthy pullback. From July 16 to Aug. 17, Bitcoin rose from $9,005 to $12,486 on...

Blockstream’s Liquid pushes for DeFi with new decentralized exchange

A decentralized exchange built on the Liquid network is opening for early access on Monday.Called TDEX, the project has announced its entry into an Open Alpha stage. It’s being built by Sevenlabs — a firm that provides consulting and white-labeling services in addition to its current work.The exchange provides a fairly unique twist to the Automated Market Makers currently dominating on-chain exchange volume. The TSWAP protocol used by the exchange focuses on ad-hoc...

Could Russia lead Eastern Europe’s crypto boom?

Not unlike many other jurisdictions around the world, Russia has come to recognize the potential benefits and risks flowing from cryptocurrencies by taking its first step to define and codify digital assets. The new Russian legislation dubbed “On Digital Financial Assets” sets a clear direction for the treatment of cryptocurrencies by authorities and how both individuals and businesses can handle them in everyday practice.Nevertheless, the new legislation may give pause to payments companies...

Overview of the top 5 DEXs by total trade volume

One of the most groundbreaking advancements to come out from within the realm of blockchain technology is the concept of a decentralized exchange. In its most basic form, a DEX can be thought of as a cryptocurrency buy/sell platform that allows its users to facilitate monetary exchanges without the need of any assets having to make their way to the exchange itself, reducing the risk of thefts, hacks and other human-related errors. Furthermore,...

SushiSwap GM says “Talk doesn’t mean anything and code shows everything”

SushiSwap, a fork of the popular Uniswap exchange and one of the latest breakouts of the DeFi craze, has undergone its fair share of scrutiny in recent days — and fairly so. The platform's token, known as Sushi, quickly came to represent 77% of the action on Uniswap as of Sept. 1, garnering more than $1.5 billion in locked value less than a week from its inception. Many have voiced suspicions regarding certain aspects of...
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