Hardcore decentralized finance (DeFi) adherents woke up today to a long-awaited sight on Coingecko’s top 100 rankings by marketcap: native tokens for popular DeFi platforms Synthetix and Aave have cracked into the top 20, an event DeFi observers have heralded as “The Great Repricing.” DeFi investors, users, and builders have long argued that the sector
Grammy Award-winning American pop-rock band “Portugal. The Man” has launched a fan-focused cryptocurrency on the Ethereum-based Rally Network. Known as PTM Coin, the new token will reportedly grant fans exclusive access to various events and perks, including a livestream party, previously unreleased songs and more. Fan tokens emerged as a growing trend in 2020, allowing
Within 48 hours of Grayscale reopening its services to new investors on January 13, Bitcoin’s price shot up by almostd 20%, to once again hover just under the $40,000 mark. During the same period, the institutional investment firm added 4,618 BTC to its portfolio at a current value of $182 million. Including last quarter’s intake
Gaming hardware giant Nvidia has addressed the ongoing shortage of its new RTX 3000 product line after high demand from gamers, and to a lesser extent, cryptocurrency miners, pushed up prices and cut availability. Nvidia chief financial officer Colette Kress said the company didn’t have good visibility into how much demand came solely from cryptocurrency
RIF, the utility token for smart contract network RSK, shot up over 30% in price after an appearance by its founder on the Jan. 13 edition of The Pomp Podcast. The gain equates to a $36 million increase in market cap for RIF, most of which has occurred in the last 12 hours. $RIF up
The amount of Ether held on exchanges has plunged over the past two days, with CryptoQuant data indicating that just 8.1 million ETH is currently sitting in the reserves of centralized exchanges. The acceleration of ETH being taken off exchanges was highlighted by Nuggets News’ Alex Saunders, who noted a 10% drop in Ether reserves
Decentralized exchanges (DEX) are a giant leap in permissionless and transparent trading, and they exist as fantastic alternatives to centralized exchanges. While DEXs ease the process of listing new ERC-20 tokens and remove the need to pay a central authority high listing fees, they stil have the issue of high gas fees. This is precisely
It’s been a rough week for the Aragon governance platform where philosophical differences have brought about a long list of resignations. Aragon co-founder Jorge Izquierdo announced on Jan. 11 he would no longer be working as CEO of the for-profit Aragon One, a company dedicated to building tools and services related to Aragon. Aragon is
The cryptocurrency market started the year in full force and with all the bullish breakouts happening it can be difficult to discern which projects are simply being driven by the macro trend and which are making gains based on solid tech developments and improving fundamentals. As the price of Bitcoin dropped more than $11,000 between
On Jan. 11, Bitcoin saw a steep correction as it dropped to around $30,500. It began to recover swiftly after the initial correction, rallying above $36,000 in the next 24 hours that followed. DeFi tokens, including Synthetix (SNX), Maker (MKR), and Compound (COMP), outperformed the majority of the market. The primary reasons behind their performance
Bitcoin’s (BTC) recent plunge could have been caused due to profit-booking by institutional investors, according to a report by crypto fund manager CoinShares. The report noted a sharp drop in institutional inflows during the first week of the new year and weekly outflows from several crypto investment products. Crypto market data daily view. Source: Coin360
DeFi coverage protocol Nexus Mutual expanded the list of centralized exchanges eligible for incident protection. Users trading on Binance, Kraken, Coinbase and Gemini are now able to buy protection in the event of an exchange hack or prolonged withdrawal downtime. The project announced the new integrations on Monday as part of their “custody cover” initiative.
The past week has been an emotional rollercoaster for Ether (ETH) traders as there were seven 4-hour candles of a 10% or larger price movement. Furthermore, the most recent 30% drop to $920 triggered $550 million in liquidations on long futures contracts. To complicate things even further, this current price correction is taking place just
The euphoria in the cryptocurrency market was quelled on Jan.11 as the majority of altcoins saw their prices decline by more than 20% as Bitcoin price sold off sharply. After falling below the $40,000 support level on Jan. 10, selling pressure for Bitcoin (BTC) increased overnight and pushed the price of the top cryptocurrency as
Aragon (ANT), a platform specializing in managing decentralized autonomous organizations, announced a merger with the Vocdoni protocol, a blockchain voting and governance solution provider. Unlike the Yearn.finance mergers, this acquisition has a much more traditional nature. Aragon has acquired Dvote Labs OÜ, the company behind the Vocdoni protocol. Its 11 team members will be hired
The launch of Badger DAO’s DIGG, a synthetic rebasing asset meant to track the price of Bitcoin, is one of the most eagerly anticipated product releases in recent DeFi memory — but the person most excited to see DIGG hit the market might not be a trader, but instead Badger DAO founder Chris Spadafora himself.