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“# 3 reasons why Convex Finance surged 215% in December to hit new all-time high ” The growth of the stablecoin sector within crypto has been one of the most impactful developments of 2021. In particular, stablecoins became integral to the expanding decentralized finance (DeFi) ecosystem as their total value eclipsed $162 billion, according to…
“# Just 1.3 million Bitcoin left circulating on crypto exchanges ” In glad tidings for an orange Christmas, Bitcoin (BTC) supply is drying up to lows not seen for years. In a recent tweet by CryptoRank, just 6.3% of the total Bitcoin supply, or 1.3 million BTC, is held on cryptocurrency exchanges. The decreasing supply…
“# SBI announces crypto joint venture with Swiss digital exchange SIX ” SBI Digital Asset Holdings, a fully owned subsidiary of Japanese banking giant SBI Holdings, announced a joint crypto venture with Switzerland’s SIX digital exchange (SDX). The joint venture would be set up in Singapore through a crypto issuance company and aims to become…
“# Enso mounting ‘vampire attack’ on six crypto index projects ” Metaverse-based social trading platform Enso Finance has announced its plans to launch its platform by performing a “vampire attack” on six major crypto index projects on Dec. 9. A vampire attack is when a platform entices users and liquidity from a competing platform by…
“# Bank of International Settlement calls the rise of decentralized finance ‘an illusion’ in latest quarterly review ” On Monday, the Bank of International Settlement, or BIS, a financial institution owned by central banks worldwide, published a report scrutinizing the development of the decentralized finance, or DeFi, industry. The article opened by saying, “There is…
“# IDEX to launch hybrid liquidity decentralized exchange on Polygon ” IDEX, a decentralized cryptocurrency exchange (DEX) based in San Francisco, has announced the upcoming launch of its v3 Hybrid Liquidity DEX on Polygon. The hybrid model will merge traditional order book functionalities with automated market maker (AMM) liquidity pools in a bid to cultivate higher…
“# Half of Uniswap v3 liquidity providers are losing money: New research ” Recent research shows that impermanent losses have become an increasing issue for liquidity providers on Uniswap v3. A Nov. 17 report by Topaz Blue and the Bancor Protocol found that 49.5% of liquidity providers on Uniswap v3 have incurred negative returns from…
“# 3 reasons why Curve (CRV) price is trending toward a new 1-year high ” This week cryptocurrency traders turned their focus to the pack of dog-themed meme tokens as altcoins like Shiba Inu and Dogecoin (DOGE) saw a surge in volume which resulted in SHIB hitting a new all-time high and the remaining Dogecoin…
“# Project Serum allocates $100M to liquidity mining ” Project Serum, a decentralized derivatives exchange for the Solana network, has launched a $100 million liquidity mining program as part of a broader effort to attract users to the ecosystem. The initial allocation was approved by Serum’s decentralized autonomous organization, or DAO, the project announced Thursday….
“# Mono X launches mainnet on Ethereum and Polygon ” Automated market maker (AMM) MonoX has announced the official launch of its mainnet platform, offering investors a full complement of swap and liquidity capabilities on the Ethereum and Polygon blockchain networks. With the release of this new service, Mono X is aiming to establish a…