Curve and yearn.finance are among the few decentralized finance projects that have interesting yield farming products to offer. Their volumes have shot upwards due to consistent community involvement. Nevertheless, the price of their governance tokens is reflecting the boom. Anil Lulla, co-founder/COO of Delphi Digital – a New York-based digital asset research firm, attempted to…
The third quarter of 2020 has seen the strong resurgence of decentralized finance (DeFi) on Ethereum. With it, the demand for decentralized exchanges (DEXes) surged, causing Uniswap to briefly overtake Coinbase Pro at one point. Heading into 2021, Ethereum and decentralized exchanges would likely perform even better, quant trader Qiao Wang said. Two Reasons an…
Aave’s LEND token, along with its new token AAVE, has dropped heavily in the past 24 hours despite stagnation in the Bitcoin and Etheruem price. The coin currently trades down 15% over the past day, underperforming BTC’s mild -0.5% performance. The cryptocurrency’s drop comes in spite of Aave having fundamentals that are stronger than ever.…
UniSwap’s native cryptocurrency, UNI, is at risk of continuing its downtrend by another 10 percent as the decentralized exchange undergoes its first governance vote. Members of the UniSwap community claimed that whales with access to large quantities of UNI tokens are unanimously changing the network rules. The accusations followed the launch of the first proposal…
Associating with the term “DeFi” worked in favor of many blockchain assets this year. UNI was one of them. The governance token, which landed in the hands of people who contributed to the progress and running of UniSwap, a decentralized crypto exchange, was a hit right after its launch. It topped charts after rising more…
Ethereum has undergone a strong surge in the past 24 hours as buyers have stepped back into the crypto market. In the past day alone, ETH has gained 5%, as it currently trades at $368. For context, Bitcoin is only up around 1.5%. The buying was seemingly triggered by the ending of a seeming capitulation…
The DeFi sector has been facing immense selling pressure in recent weeks, with the price declines seen by both Bitcoin and Ethereum creating notable headwinds that caused many previously bullish assets to plunge by 50% or more. Bitcoin’s peak at $12,400 came about just days before the entire market began trending lower, with it still…
The Ichimoku Cloud is a momentum indicator often used in technical analysis to gauge an asset’s trend. It is currently indicating that Bitcoin (BTC) is healthily recovering from an important support area. The daily chart of Bitcoin with the Ichimoku Cloud. | Source: BTCUSD on TradingView.com, Josh Olszwicz The cloud in the Ichimoku indicator is…
Decentralized finance (DeFi) tokens, including Chainlink (LINK), Yearn.finance (YFI), and Aave (LEND) strongly recovered after a prolonged slump. At its monthly low, YFI declined by nearly 64% in the past 11 days. Similarly, DeFi giants like Chainlink declined by 45% at the monthly low since mid-September. The 1-hour chart of Yearn.finance (YFI). Source: YFIUSD on…
It’s been an extremely poor month for the Ethereum decentralized finance (DeFi) space. Leading coins pertaining to this fledgling space have shed dozens of percent from their all-time highs, set either in August or in early September. Take the example of Yearn.finance (YFI), which has dropped from its all-time high of $44,000 to $14,000 as…