According to data from leading crypto analytics firm Santiment, a distinct trend has unfolded in the stablecoin sphere. Even as stablecoins designed to maintain parity with a reserve asset like the US dollar, continue to hold their $1 peg, the combined market capitalization of the top five stablecoins – Tether (USDT), USD Coin (USDC), Binance…
Lido, the liquidity staking protocol that supports staking, is now under some of the Ethereum community members’ crosshair. There are fears that the platform is centralizing Ethereum and could make the blockchain fragile. As of June 1, Lido is the largest decentralized finance protocol. DeFiLlama data shows that the platform manages $13.2 billion in staked assets. …
The amount of funds flowing through the Avalanche Bridge is down 70% in the last 24 hours, DeFiLlama data on May 31 shows. 70% Drop In Activity In The Avalanche Bridge To Ethereum Over the past day, the bridge has facilitated $2,634,828 worth of transactions and processed $22.4 million in transfers in the last week. The bridge…
Trader Joe, a Decentralized Exchange (DEX) on the Binance Smart Chain, is making waves in the Decentralized Finance (DeFi) world with its new Auto-Pools feature. According to the DeFi researcher Tindorr, this innovative solution offers a set-and-forget yield farming strategy for liquidity providers (LPs), eliminating laborious position management. Auto-Pools allows LPs to provide liquidity to…
RAY, the native governance token of Raydium, the automated market maker (AMM) decentralized exchange (DEX) on Solana, soared 30% on May 17 before reversing gains, plunging to spot rates. RAY Prices Under Pressure According to CoinMarketCap data on May 30, RAY is changing hands at $0.19, stable against the USD, Bitcoin, and Ethereum on the last trading…
THORChain, a decentralized exchange and one of the liquid decentralized finance protocols by total value locked, plans to release “Lending” in 2023. It is a feature THORChain says will complete their THORFi ecosystem. However, amid this development and community anticipation, RUNE remains under pressure, slipping 32% from April 2023 highs as of writing on May…
The price of Uniswap, the largest decentralized exchange by trading volume, is down roughly 35% from Q1 2023 peaks. Even so, on-chain data from Etherscan shows that there has been a steady increase in the number of UNI holders in the past two days. As of May 13, there were 369,646 UNI holders. Since then, the…
Following a recent update, over $120 million of Aave v2, a decentralized finance (DeFi) protocol for lending and borrowing tokens, user assets are “stuck” on Polygon. Bug On Aave v2 On Polygon The bug affecting withdrawals from Aave v2 deployed on Polygon, an Ethereum side-chain, has been pinned to the recent implementation of “proposal 224”. …
Lido (LDO), the leading liquid staking derivatives (LSD) protocol, recently made waves in the crypto community by enabling staked ETH (stETH) withdrawals. Expectations were high as many anticipated a surge in stakers unstaking their ETH. However, contrary to these predictions, Lido has witnessed a remarkable increase in ETH deposits, reaching a record-breaking level. This surge…
Uniswap Labs, a leading decentralized finance (DeFi) platform, has recently conducted a survey to understand the motivations and barriers of US-based retail users towards DeFi. The survey received 1,860 responses, including non-crypto, centralized finance (CeFi), and DeFi users. The survey revealed that despite the bear market backdrop, nearly half of CeFi users expressed an interest…