Cryptos exposed to Alameda Research, FTX, and Sam Bankman-Fried seem to have suffered the most. Solana witnessed its total value locked plunging by 32.4% within the past day. That came as the news of FTX callable sent a shockwave in the entire cryptocurrency market. DeFiLlama shows SOL’s TVL dropped to $423.68 million, reflecting a 32.4%…
Avalanche’s Twitter handle for ecosystem news tweeted on November 6 about the project’s weekly subnet statement. The report by AVAX Daily revealed some notable updates that the blockchain experienced. The tweet confirmed that AVAX’s subnets totaled 36, whereas the total validators stood at 1,219. Moreover, the transaction count over the previous week didn’t see a…
The latest rally in the crypto space saw Tron exploring 5-day peaks of $0.06382 as of November 5 (Coinmarketcap data). The alternative token ranked 15th by market cap. Moreover, TRX lost 1.5% over the previous day to its press time value of $0.06351. Evaluating the asset’s daily chart showed Tron buyers dominated the market on…
Coinbase will offer custody of MakerDAO’s USDC treasury worth about $1.59 billion. The deal allows the DAO to earn nearly 1.4% rewards on the funds. Coinbase submitted the proposal on 6th September and got approved by 70% of votes on Monday 25th October. USDC represents one-third of the treasury and allows users to deposit collateral…
Chainlink investors and holders might have something to celebrate. The latest Economics 2.0 could be the savior of the struggling and ailing LINK. The new launch will allow Chainlink to increase its revenue capture and fees & increased the network’s security through staking. Nevertheless, whether the launch can enhance LINK’s plummeting market capitalization is unclear….
Reports from the Labor Department indicated that the United States consumer prices slowed in September compared to the previous month. Moreover, inflation emerged faster than what experts had forecasted. Meanwhile, the crypto market noted upsides. Cryptocurrencies revived on Friday following inflation numbers, though still within the range before the data. Nevertheless, the crypto market recuperated…
MakerDAO has unveiled another proposal to ensure progress in debt ceilings and fees. Nevertheless, the new developments could not have triggered interest from retailers as MKR experienced price declines within the last few days. Also, whales have shown interest in the alternative token. MakerDAO Makes Modifications A recent tweet highlighted MakerDAO’s new proposal that showed…
UNI presented a lucrative performance over the previous week, outperforming several ‘usual’ gainers with a more than 10% uptick. Meanwhile, such developments brought some hope to optimistic market players. While publishing this blog, UNI changed hands near $6.33, with its market capitalization above $4.8 billion. Uniswap’s recent actions emerged from the platform developments that welcomed…
Avalanche developers launched the AvalancheGo@v1.8.6 upgrade recently. This version is v1.8.0-backward compatible, which developers recommend despite being optional. Besides the new update, the Avalanche community has seen multiple positive developments recently. That has seen the blockchain increase its value. Also, AVAX’s price reacted to these developments, recording a 2% uptick within the past 24 hours….
The Cardano Chain launched its much-anticipated Vasil upgrade on Thursday. However, it will take five more days for the developers to experience the upgrade’s capabilities. Cardano Foundation believes that the upgrade will boost the network performance. The name Vasil comes from Vasil St. Dabov, a Cardano supporter who unfortunately lost his life in 2021. Charles…
The new report by a crypto research platform, Messari, evaluated Ethereum’s performance in the 3rd quarter of 2022. The State of ETH Q3 2022 report discovered that the blockchain saw a surge in network activity in the third quarter. Nevertheless, the platform also noted some sectoral plummets and endured a general dip in revenue because…
Maker, the issuer of DAI stablecoin, has nearly doubled the limit on its staked Ethereum vault. The DeFi protocol is planning to stop its dependence on centralized stablecoin like USDC. The recent Tornado Cash scandal has fueled the plan. Staked Ethereum represents one unit of ETH that has been locked up or deposited in expectation…
Uniswap has gained approximately 8.05% over the past seven days. UNI has retained optimistic price actions regardless of the present bearish market. However, what could be behind Uniswap’s impressive performance? The platform has seen several developments that might have contributed to this surge. Uniswap’s product head, Scott Gray, revealed that the firm would launch non-fungible…
The rate at which hackers target the decentralized ecosystem is rising daily. After a recent rug pull, the market value of a famous play-to-earn blockchain platform, the GameFi initiative, dropped by 99%. Similarly, another DeFi network lost millions to the recent attack on its platform. Moreover, the blockchain security and analytic firm PeckShield Alert posted…
Arbitrum, an Ethereum Layer2 solution, looks to regain its lost charm in the cryptocurrency space. The roll-up solution will undergo a massive Nitro upgrade next week. Meanwhile, Arbitrum witnessed an enormous surge in daily transactions, crossing 180,000 this week. Indeed, Arbitrum appears healthy compared to its rival, Optimism. Arbitrum’s organic growth saw it maintaining a…
Axie Infinity has doubled up on its products with the recent release of Origin Season 0. The new development signals the move to the third stage of the platform’s play-to-earn games. However, the recent market rout experienced by the digital asset industry has significantly impacted Axie Infinity. After the release of the most recent game,…
According to reports, Binance, a famous cryptocurrency exchange, has recovered a large chunk of the assets stolen in the latest Curve Finance breach. About $450,000 have been frozen and reclaimed by the firm. Changpeng Zhao, the CEO of Binance, confirmed the news on his Twitter account. This means that approximately 80% of the plundered funds…
Charles Hoskinson, the founder of the Cardano ecosystem, has assured its community that the team will not delay the long-awaited Vasil hard fork anymore. It appears the news has pushed several investors to add more ADA to their crypto vault. Cardano Whales And Sharks Accumulate ADA According to reports, Cardano whales have bought ADA worth…
With the latest verdict from the BIS (Bank for International Settlements), banks can now store 1% of their reserves as cryptocurrencies. Before now, the BIS has maintained a skeptical approach toward digital currencies. The recent market crisis and issue with the Terra ecosystem have only made things worse. However, it appears things have changed, and…
Recently, there was turmoil in the stablecoin industry. This was after the popular DeFi platform, Terra, collapsed. Also, its stablecoin, the USD crashed, and several investors lost millions of dollars. Following the news, a Swiss National Bank (SNB) executive has commented on the matter. The executive, Thomas Moser, believes that regulators would favor centralized stablecoins…
