At the beginning of the year, the trading platform FTX Exchange launched a futures market so people can bet on the U.S. election and created a futures contract token called TRUMP. On Friday, FTX revealed that the exchange is lifting the initial margin requirements to $0.50 for its TRUMP token contracts. Individuals who don’t live […]
The latest study by the World Bank shows that it costs 4.98% on average to remit funds to South Asia which makes it the least expensive region while sub-Sahara Africa is the most expensive with an average cost of 8.47%. The quarterly study also finds that it is costlier to remit funds when using service […]
Even though cryptocurrency traders have been exuberant over the price rise, a number of analysts are focused on the large bitcoin and ethereum options expiries set to end before Halloween. Data from Skew.com shows $750 million in Bitcoin options is set to expire and prices could get volatile. The price of bitcoin (BTC) touched an […]
The Singaporean multinational banking and financial services corporation DBS published an announcement revealing it was launching a cryptocurrency exchange. The announcement was later removed by the company but crypto proponents have learned about the upcoming support for assets like bitcoin, ethereum, and bitcoin cash. DBS Bank Ltd is Southeast Asia’s largest bank in terms of […]
Digital Currency Group (DCG) recently published the firm’s “State of Crypto 2020” report which polls more than 150 portfolio crypto companies. According to the study, 75% of the respondents believe the value of their business has grown this year, while 50% of the startups have seen outperforming start-of-year projections. The state of the cryptocurrency industry […]
Crypto collateral locked in DeFi protocols has surged to an all-time high over $12 billion.
Following a six week cooling-off period for the majority of decentralized finance protocols, the DeFi bulls are back in action as total value locked surges to new record highs.
The amount of crypto collateral locked across various DeFi protocols has hit a new all-time high of $12.3 billion according to DeFi Pulse.
In just 48 hours, over one billion dollars has been added to the total USD value, although precise figures vary on other analytics platforms such as Coingecko and Coinmarketcap.
TVL on Coingecko’s tracker reports it to be around $11.6 billion. The increase follows Bitcoin reaching a new 2020 high of $13,200 on October 21, which was prompted by the PayPal crypto payments news.
Coingecko reports the total DeFi market capitalization — as distinct from TVL — for all tokens, including the DeFi-adjacent Chainlink, is at $14.3 billion. That’s an increase of $2 billion in the DeFi marketcap over the past 48 hours.
DTC Capital head, Spencer Noon argues that the bull market for decentralized finance will soon enter round two:
Despite a month that saw most tokens fall 50% or more, #DeFi is *still* at ATHs with its most important indicators:
– TVL: $12.41B – ERC20 Stablecoins: $14B
Don’t listen to the degens who burned out. Phase 2 of this #DeFi bull market will make this summer look like nothing.
Noon commented that many yield farmers have simply moved back to BTC after making months of solid gains and he tipped the election as the catalyst for a second DeFi boom:
“The likely inflection point for DeFi Bull Phase 2 is the election, where there are multiple outcomes that would be favorable for risk assets.”
The PayPal news and general upturn in crypto markets has resulted in numerous DeFi coins making solid gains in the past 24 hours including Airswap, Aave, Synthetix, and Curve.
A factor driving TVL is the increase in the prices of DeFi tokens used for staking, including Ethereum, as many of the liquidity pools are ETH based. Over the past 48 hours, Ethereum prices have increased 12% to reach a six week high of $415.
But according to Messari’s DeFi Returns Index, which measures performance of the top 46 DeFi assets, many DeFi tokens are still down over 40% over the past month. The biggest losers include tokens from Meta, bZx, Augur, SushiSwap, Swerve, and Curve.
HEX.COM – The First High Interest Blockchain Certificate of Deposit – has outperformed every asset in 2020. Ranked Top 20 by Nomics (BTI verified #1 in Market Data Integrity), over $240 Million HEX are in active stakes paying a variable 28% APY. The average stake length is 5 years; the longest stakes are 15 years. […]
Cryptocurrency markets have seen intense gains on Wednesday after the payment processor Paypal announced it would be supporting digital currencies. At the time of publication, the market cap of all 7,000+ digital assets has gained 5.6% hovering above $379 billion during the afternoon trading sessions. Digital currency markets have increased a great deal during the […]
Payments giant Paypal says its customers can now buy, sell and hold bitcoin and other virtual coins with the company’s online wallets. The company also says its customers will able to use cryptocurrencies to shop at the 26 million merchants on its network starting in early 2021. A report quotes the company’s President and Chief […]
A great number of Non-fungible tokens (NFTs) have been selling on various marketplaces this year creating tens of thousands of dollars in NFT sales. One particular platform called The Sandbox has been selling virtual land parcels for thousands of dollars worth of ether. The Sandbox is a virtual world that lets players create and own […]
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