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Balancer (BAL) price soars to new all-time high: What’s driving the rally?

BAL, the token of the popular automated market maker Balancer, has reached an all-time high due to two major catalysts. BAL, the native cryptocurrency of Balancer — a popular automated market maker (AMM) utilized by many decentralized finance (DeFi) users to trade cryptocurrencies — surged to new record highs above $70 on April 15. BAL/USDT 1-day price chart (Binance). Source: TradingViewThere are two key reasons behind the uptrend of BAL, namely the buzz around the Coinbase public listing and the resurgence of DeFi blue chips. What is the Coinbase and Balancer hype? On April 14, Adam Cochran, partner at Cinneamhain Ventures,…

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Balancer to enable programmable liquidity for the Algorand ecosystem

CryptoNinjas » Balancer to enable programmable liquidity for the Algorand ecosystem Blockchain platform Algorand today announced that Balancer, one of the largest automated market makers (AMM), will soon be available on Algorand to expand liquidity to its growing community. This initiative explores how the Balancer platform can work in different environments, given the different trade-offs and characteristics of other innovative blockchains like Algorand. Traditionally, exchange and liquidity have been time-consuming and expensive endeavors, and the market depth is not always justified. However, Balancer brings the type of innovation and decentralization in financial infrastructure that continues to drive service costs lower.…

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Orion Protocol Rallied By 730% And Here’s Why: Price Analysis

Orion Protocol rallied by 730% since February and hit a $500 million market cap but what is really behind the recent rally? Let’s find out in our latest altcoin news today. With the DeFi industry growing, new exchanges and liquidity protocols are emerging constantly and for the average investor, keeping track of all of them and looking for the best yield opportunity became a hard task. The situation became even worse as the centralized exchanges started offering staking opportunities so the need for a liquidity aggregator which connects to several decentralized and centralized exchanges became clear. Orion protocol aims to…

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Stacking Satoshis: Leveraging Defi Applications to Earn More Bitcoin

As decentralized finance (defi) has become more popular, digital currency proponents are making money off of more than 140 yield-bearing cryptocurrencies. While most of the defi ecosystem revolves around the Ethereum network, a number of people leverage these defi applications in order to earn more bitcoin. The following list is a few defi platforms that allow individuals to stack satoshis by utilizing liquidity pools and lending apps. A great number of people hold bitcoin (BTC) for a long period of time whether in a noncustodial wallet or with a custodian like an exchange. However, these days a lot of individuals…

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Uniswap Captures $2 Billion Locked, Dex Volume Outpaces Second-Largest Centralized Exchange

The decentralized exchange (dex) built on Ethereum, Uniswap has accumulated a whopping $2 billion in total value locked (TVL) this week. Tuesday’s data shows out of all the decentralized finance (defi) application’s Uniswap dominates the $11 billion landscape by over 18%. Just recently, the defi space has touched a few new milestones as the ecosystem’s TVL this week has topped $11 billion. The dex Uniswap is dominating the defi landscape by 18.65% with over $2 billion TVL to-date. Uniswap is followed by Makerdao ($1.9B), Aave ($1.56B), Curve.fi ($1.22B), and the Wrapped Bitcoin (WBTC) project ($990M). The Uniswap trading platform has…

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Ocean Protocol Teams Up With Balancer For Data Tokens Marketplace

Ocean Protocol teams up with Balancer in order to create a data token marketplace and to democratize the entire market as we are reading more in the latest crypto news. Ocean Protocol market is an AMM powered by Balancer which allows anybody to sell and buy tokens that represent ownership of a particular dataset and will enable widespread monetization of data and access to a bigger range of information for the interested parties. The efficiently priced data on the marketplaces is a huge step forward for the DeFi space while the market is still heavily focused on the Defi tokens.…

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Over 15% of ETH Supply Locked in Smart Contracts, BTC Dominance Declining

The rapid growth of decentralized finance (defi) protocols is contributing to the increasing proportion of ETH supply that is now locked in smart contracts. More than 15% of the total ETH supply is now locked, compared to 11.5% from a year ago. This growth led to the inevitable decline of BTC dominance. According to a report, over 5% of ETH is locked up in the WETH (wrapped ether) smart contracts, enabling it to interact with other tokens more easily. Most of this WETH has then been locked up in defi contracts, including Maker, Uniswap, and Balancer. The report also notes…

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Defi Platform Uniswap Outpaces Coinbase Pro in Global Trade Volume

The decentralized exchange (dex) Uniswap has seen a massive amount of trade volume during the last seven days. Following Uniswap’s rapid increase in global trade volumes, the platform’s founder Hayden Adams celebrated the dex outpacing the centralized exchange Coinbase’s volumes this past weekend. News.Bitcoin.com recently reported on the decentralized finance (defi) economy’s total value locked (TVL) assets nearing $8 billion in value. While a mad rush toward defi coins and applications has been taking place during the last few months, dex trade volumes have been soaring. Data from Dune Analytics shows that close to $11 billion has been swapped on…

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Total Value Locked in Defi Jumped 85% in August, $8 Billion in Assets Held

A lot has changed during the last month, as the popular decentralized finance (defi) ecosystem has swelled considerably in value. Since the first week of August, the total value locked in defi jumped over 85% in 27 days from $4.2 billion to $7.88 billion on August 30. The total value locked (TVL) in the decentralized finance (defi) economy is nearing $8 billion in value, as crypto funds have poured into the surrounding infrastructure. Statistics from the website defipulse.com show that the current TVL on Sunday, August 30, 2020, is $7.8 billion. The defi lending platform Aave makes up 21.86% of…

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Ethereum’s BAL Token Surges 25% And There’s More To Come

Ethereum’s BAL token surged by 25% after Bitcoin and ETH bounced a few percent in the past few hours. The Ethereum-based BAL token is up by 26% in the past 24 hours according to the data that we have in our latest altcoin news, hitting a price of $23.50. With the 26% gain, Balancer is the second best-performing asset in the top 100 currencies by outperforming Cosmos. Analysts believe that the asset could be primed to move higher if the decentralized finance space also moves higher. Ethereum’s BAL token gained 25% in the past day as the buyers stepped in.…

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Ethereum’s Balancer (BAL) Surges 25%—and More May Be to Come

Bitcoin and Ethereum have bounced a few percent over the past few hours, as are altcoins like Balancer. The Ethereum-based BAL is up 26% in the past 24 hours according to Coin Market Cap, reaching a price of $23.50 for the first time in many days. At a 26% gain, Balancer is the second best-performing crypto asset in the top 100 cryptocurrencies, only underperforming Cosmos (ATOM). Analysts say that the asset could be primed to move higher, especially as the decentralized finance space continues to move higher. Related Reading: Crypto Tidbits: MicroStrategy’s $250m Bitcoin Purchase, Ethereum DeFi Boom, BitMEX KYC Ethereum…

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Dex Platforms Trade Over $2.4 Billion in 7 Days, Defi Swaps up 68% Since Last Week

Years ago the cryptocurrency community did not have access to a plethora of decentralized exchanges (dex). In 2020 with the rise of Ethereum, dex platforms have grown exponentially with trading applications like Uniswap, 0x, Kyber, and more. Dex trading growth has spiked over 68% this week alone and during the last seven days, $2.4 billion was swapped on these exchanges. Onchain data from Dune analytics shows that more than $2.4 billion in decentralized exchange (dex) swaps took place last week and $448 million worth during the last 24 hours. Dex stats from Dune Analytics shows 24-hour dex volumes for Saturday,…

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Ethereum DeFi’s Balancer (BAL) Surges 25%: Why the Altcoin Is Up So Much

While Bitcoin and Ethereum have stagnated over recent days, multiple altcoins are pressing higher and higher. Zcash, for instance, has gained dozens of percent in the past week alone as its technical and fundamental case strengthens. The coin of the day, though, seems to be Balancer (BAL). The Ethereum-based altcoin, which is a governance token for the Balancer protocol, has doubly surged in the past few hours. As can be seen in the chart below, BAL ripped from the $10 baseline it was trading at a high of $15.50 in the span of two hours. The cryptocurrency has since retraced…

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This DeFi Project Wants to Make Yield Farming Cheaper

A new DeFi project wants to make the current flavor of cryptocurrencies – yield farming – cheaper to access, run, and operate for retail users, Decrypt reported August 5. Making Farming Cheaper Set Protocol, a DeFi project, plans to bring yield farming as one of its automated trading strategies offered as part of its proprietaryRead MoreRead More. The post by Shaurya Malwa appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

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Total Value Locked in Defi Surpasses $4 Billion, ETH Up Over 70% Last 30-Days

Statistics show that the decentralized finance (defi) economy has grown massively this year as the total value locked (TVL) in defi recently surpassed $4 billion. Between dex platforms, derivatives, stablecoins, lending, and non-fungible asset creation the second quarter of 2020 has propelled the Ethereum network to new heights. Decentralized finance (defi) is a term used often these days as it describes a disintermediation trend in the world of finance. A very large portion of defi applications, tokens, and platforms are hosted on the Ethereum (ETH) network and defi’s massive growth has made the price of ETH swell. The defi ecosystem…

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DeFi Market Cap Surpasses $8 Billion

DeFi is all the rage as the booming crypto landscape’s total market cap surpassed $8 billion today, per data from CoinGecko. DeFi Continues to Grow Exponentially The DeFi market cap continues to increase as more money gets poured into the nascent space. According to the latest data from CoinGecko, the total market capitalization of theRead MoreRead More. The post by Aisshwarya Tiwari appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

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Coinbase Reviewing 19 Crypto Assets for Listing, Including Wrapped Bitcoin and Paxos Gold

Crypto exchange Coinbase said Friday that it is reviewing 19 cryptocurrencies for possible listing. These new assets are: Ampleforth, Band Protocol, Balancer, Blockstack, Curve, Fetch.ai, Flexacoin, Helium, Hedera Hashgraph, Kava, Melon, Ocean Protocol, Paxos Gold, Reserve Rights, tBTC, The Graph, Theta, Uma, and Wrapped Bitcoin (WBTC). Coinbase said the review process includes “significant technical and compliance review and may be subject to regulatory approval in some jurisdictions.” There’s no guarantee that crypto assets under review will gain automatic listing. “[Our] goal is to offer support for all assets that meet our technical standards and which comply with applicable laws,” said…

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Balancer Blacklisted The Confusing YFII Token: Report

The asset management protocol Balancer blacklisted the confusing fork of yEarn’s governance token YFI sparking the censorship DeFi talk as we are reading more in the upcoming altcoin news today. The automated asset management protocol Balancer blacklisted YFII which is a fork of the yEarn governance token YFI and the confusing fork was announced earlier this week. YFII was the recipient of the vast community contention which critics cited unaudited smart contracts and safety risks as well as centralized control as the main reasons why yield farmers should avoid the project. YFII continues to move forward as it recently burned…

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