Cross-chain bridge equipped altcoins rally higher despite China’s crypto ban

The bullish momentum that had been growing across the cryptocurrency ecosystem over the past few days came to a screeching halt on Sept. 24 as news that China had banned cryptocurrency transactions made the rounds on social media and initiated an abrupt fall in the price of Bitcoin (BTC) from $45,000 to $42,000. After the initial knee-jerk reaction and a brief period of time for the market to digest the news, traders jumped back in to buy the dips on several altcoins, which helped some of the losses seen earlier in

Not Ethereum, Polkastarter, the DEX Protocol Will Launch on Polkadot

Since gaining prominence in recent times, Decentralized Finance (DeFi) has been marauded with some sort of technical problem especially as it utilizes Ethereum blockchain that only does about 25-40 transactions per second. Most, if not all current DeFi aggregators and DEX platforms are built atop the Ethereum blockchain, it’s easier to deploy contracts on the Ethereum blockchain than in any known blockchain and it’s quite cheap to do too.  However this comes with a cost, the cost is in the amount of gas fee spent just by interacting with this

Non-Fungible Token Craze Explodes Despite DeFi Market Woes

Non-fungible tokens (NFTs) are the latest craze in the world of decentralized finance (DeFi) and new platforms are offering farming incentives in order to acquire them. Non‑fungible tokens are a special type of token on the Ethereum network primarily using the ERC-721 and ERC-1155 algorithm standards to create verifiable digital scarcity. A new DeFi platform called Shroom Finance is aiming to build a decentralized ecosystem for in-game asset trading and minting though the issuance of NFTs. Shroom Finance Bolsters NFT Frenzy The concept is built upon DeFi liquidity farming which

Ethereum Miners Hourly Revenue Hits Five-Year Record

Rate this post The transaction fee of Ethereum has now increased to around $1 million an hour. It has been observed that the hourly revenue of Ethereum miners has hit a 5 year high as the fees is currently at $880k per hour. It is believed that such an increase in price might be due to the recent announcement of Uniswap for launching its governance token, UNI. This is because as soon as the announcement for the UNI token came, around 70,000 users rushed to claim the free tokens. Due

If (or when) DeFi’s bubble pops, DEXes will go down too

September hasn’t been a great month for the DeFi space. While the space isn’t unfamiliar to sharp falls in TVL in the near-term, the sheer scale of recent developments has taken many by surprise. For example, just check out DeFi Pulse’s charts for 8 September 2020. The figures for Total Value Locked dropped by over $2B from $8.20B to $6.14B.  Source: DeFi PulseIn fact, the aforementioned drop in TVL was just one in a series of them over a week, a week that saw the same figures drop by over 36%.

$SOL Pumps as Tether Launches on Solana Blockchain

From Omni, TRX, Ethereum, among other blockchains, Tether (USDT) is now available on Solana. Developers of the high-speed layer-one blockchain have it that the platform is 50,000X faster than Ethereum. At the same time, Sam Bankman-Fried holds that the decentralized protocol is a million times cheaper than Ethereum. The First Stablecoin, the Eighth Blockchain USDT will be the first stablecoin to launch on Solana. According to the coin’s issuer, Tether, the blockchain can offer speeds of up to 50,000 transactions per second with $0.00001 or less charged per transaction. Tether

What is OIN Finance? A DeFi Guide to $OIN

The emergence of several decentralized finance (DeFi) projects has taken up most of the transaction capacity of the Ethereum network. As a result, the blockchain has too much traffic and gas costs are substantially increasing, making it hard for users to transact on it. This congestion problem has made a negative impact on the broader DeFi space and is curtailing adoption. In order to get around this concern, OIN Finance tapped on to the Ontology network, making it the first DeFi protocol built on the Ontology chain. Ever since they

Binance launches first centralized exchange’s AMM pool called Liquid Swap

Cryptocurrency exchange Binance announced today the launch of its “centralized” Automated Market Maker (AMM) pool called Binance Liquid Swap, which will have different liquidity pools that will allow liquidity providers to earn interest and income from trading fees. Founder and CEO of Binance, Changpeng Zhao said that he was taking cues from the DeFi trend and published a tweet that stated: Rough day for all markets today, but we keep building.Learning from #DeFi, #Binance Liquid Swap: Instant Liquidity, Low Fees. #BNB— CZ Binance (@cz_binance) September 4, 2020However, in the case of

Binance Looking to Mimic DeFi Liquidity Pools with Centralized AMM

Following the DeFi craze that lured participants in with Automated Market Maker (AMM) systems, centralized exchanges like Binance are now eager to follow suit. One of the largest centralized cryptocurrency exchanges around, Binance has launched its own AMM liquidity swap on Sep 4. The Trend in Market Making Earning fees as a liquidity provider has been a possibility for some time, ever since the first decentralized exchanges were launched. With a lot of progress being made on providing liquidity in decentralized markets, AMM systems came into the limelight recently when’s $140M yETH vault proves investors are ravenous for DeFi, an automated DeFi yield-farming protocol, has recently launched the latest yvault strategy, yETH. yVault strategies are a set of predefined actions that allow users to deposit funds and have them automatically sent to liquidity pools where high-yield interest and additional token rewards are earned.The yETH vault was launched on September 2, along with the yWETH vault and a few other updates. The yWETH vault is equivalent to the yETH vault but uses wrapped ETH, an ERC-20 token pegged and backed by ETH. According to a recent client newsletter by Delphi