The crypto industry saw a landmark event as the supply of the second-largest crypto asset, Ethereum, experienced a significant drop of 65,000 ETH at the start of the year, as revealed by IntoTheBlock. Per the report, this comes from the September 2022 Merge that signaled Ethereum’s transition to the proof-of-stake (PoS) consensus algorithm from the…
Before looking at what are Decentralized Exchanges (DEXs), we shall discuss what an “Exchange” and “Decentralized Finance (DeFi)” are. What is an Exchange? An exchange is a platform or marketplace where individuals, businesses, or institutions can buy and sell various assets, such as stocks, bonds, currencies, commodities, and cryptocurrencies. The purpose of an exchange is…
It is indisputable that the financial markets thrive due to the existence of various instruments that can raise capital, guarantee supplies, and, obviously, a lot of credit. Even though some individuals may believe that the financial markets generate extremely high profits, this fact cannot be refuted. Trading derivatives, which derives its value from an underlying…
Most of the tokens in the cryptocurrency market have their Wrapped version. For example, Wrapped Ethereum (WETH) and Wrapped Bitcoin (WBTC) are available on many crypto exchanges. These tokens are termed Wrapped Tokens. Wrapped Tokens are just like any other cryptocurrency, but they’re on another blockchain as compared to their parent token’s blockchain. Wrapped Tokens…
2022 Brought Turbulent Times Over the course of a couple of years, Decentralized Finance (DeFi) has become an integral and essential part of the crypto industry and economy. This ecosystem primarily allows users to provide digital currencies to protocols for lending them onward to loan seekers. Furthermore, DeFi allows its users to switch hands without…
Introduction Cryptocurrencies were first introduced as an alternative to fiat currency-based economics. There are many issues related to the fiat currency economy such as the money supply that makes the case for cryptocurrency applications. To improve the cryptocurrencies, the developers have ingrained some important features in the blockchain such as Token Burning. This article is…
Introduction The use of distributed ledger technology, commonly known as a blockchain, has resulted in the development of a whole new, innovative environment that is based on Bitcoin and other virtual monies. Increasing numbers of people all around the globe are of the idea that conventional forms of monetary products will one day be replaced…
A fresh study, on ‘Decentralized Finance (DeFi)’, has been compiled by Hashkey Capital and published as part of its annual report. The study reveals astonishing findings which suggest that as compared to conventional finance, DeFi is more accessible. Most importantly, the study notes that DeFi is better than traditional finance for so many reasons. For…
Purchasing new, low-cost cryptocurrencies allows investors to earn profits in a shorter run of time. But the key to making a profit is to buy these cryptocurrencies at the right time when their prices are undervalued. But this also involves considerable risk. The cryptocurrency market continues to be volatile, and some of the most established…
DYP Brand Name Overhauled After gaining vast experience in the digital asset industry successfully, an ex-decentralized finance (DeFi) project overhauled itself to join Metaverse. The project was widely known as ‘DeFi Yield Protocol (DYP)’ until it recently changed its name. Teams behind DYP spent months coming up with a name that can reflect their years-to-date…
Lodestar Exploit The rumors that surfaced claiming a popular decentralized finance (DeFi) project had been hacked have now been confirmed. It has now been unearthed that Lodestar Finance, which is a DeFi protocol on Arbitrum. Reportedly, the hacker breached the project’s firewalls and obtained control of the project. Consequently, funds amounting to US$6.9 Million have…
Opera, a major Web3 browser has made an announcement about the launch of new tools for the users. The purpose of the new tools is to offer security to the users against Web3 abnormalities and risks. New Tools for Users’ Protection Opera officials have confirmed that they have launched a new set of tools with…
1inch is a renowned crypto exchange aggregator. Meanwhile, it released its Rabbithole tool on November 25, aiming at protecting individuals against sandwich hacks. Rabbithole allows people to send transactions to ETH nodes directly, sidestepping the mempool. Nevertheless, users should change the RPC (Remote Procedure Call) endpoint within their cryptocurrency wallet to utilize the tool. Post…
Aave retests the support zone at $56.6. The past two days saw whales trimming their stablecoin balances to favor Aave. AAVE broke the past support regions and displayed massive bearish strength within the past few days. Nevertheless, retesting the foothold at $56.6 confirmed that bulls could have secured the territory for possible price recoveries. While…