Archived Posts

Ryan Selkis, founder of cryptocurrency related data providing site Messari, forecast a forthcoming end of decentralized finance (or DeFi) domain, comparable to how initial coin offerings (ICOs) ended up. On September 10th Selkis tweeted “The DeFi bubble will pop sooner than people expect. We’re nearing the apex of Ponzi economics, rug pulls, and ‘yield’ hopping,   Read more...

DeFi (decentralized finance) domain, which is seeing exponential growth, is plagued with scandals as yet another dubious venture has made an exit with investors’ hard earned money. The DeFi project in question is Yfdexf.Finance. A news published by ZyCrypto states “A new liquidity mining pool DeFi project, Yfdexf.Finance has exited the market after defrauding investors   Read more...

As per a report published by Stack Funds yesterday, the hash rate of Bitcoin network remains strong and largely immune to the rainy season and blackouts in China. The argument is supported by Coin Metrics data. The 7-day average Bitcoin (BTC) hash rate has stood above 120 Terahashes (TH/s) since mid-August in spite of threat   Read more...

Ventures related to decentralized finance (DeFi) saw over 50% declines in value last week. However, after the rout, the DeFi sector has bounced back with a gain of 19% in a single day. Even Ether (ETH), the native crypto of Ethereum blockchain which hosts most of the DeFi tokens has also rallied 11% in the   Read more...

Ren, a trustless cross-chain bridge, and UMA, a permissionless synthetic asset platform, have joined together to roll out a Bitcoin pegged yield dollar named uUSD, in addition to a joint liquidity mining reward plan. The collaboration will give rise to a product that permits investors to capitalize on Bitcoin permissionlessly on the Ethereum blockchain. It   Read more...

In a step towards bringing stablecoin USD Coin (USDC) to other blockchains, USDC has now been hosted on the Algorand, a public blockchain. Notably, USDC is already available as a token on the Ethereum blockchain. Hosting USDC on Algorand provides layer 1 scalability to the asset, along with a capability to undergo 1,000 transactions per   Read more...

Utilizing a smart contract hosted on Bitcoin (BTC) blockchain, a $10,000 bet on the US Presidential election was placed by two cryptocurrency advocates. As per a post made by podcaster Marty Bent, it is the first time, Bitcoin (BTC) mainnet has been used to host discreet log contract (DLC), a development he refers as “a   Read more...

The US based cryptocurrency exchange Kraken, in its August 2020 volatility research report, has forecast negative returns from Bitcoin (BTC) investment in September. The document published by Kraken has pointed out that time and again, Bitcoin used to perform in a worst manner in September, with long-term returns of negative 7%. The report further argues   Read more...

It seems the DeFi (decentralized finance) craze has come to an end for the moment, with 50% of top DeFi tokens losing more than 50% of their value (in terms of US dollar) in the past week. As per Messari, which provides crypto market data of DeFi assets, 32 of 34 projects losing value last   Read more...