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Messari Says Initial Dex Offerings Are ICO 2.0, Urges Investors to Resist Initial Hype

Crypto research firm, Messari says new Defi token offerings or initial dex offerings (IDO) are a reincarnation of initial coin offerings (ICO) and warns average investors to steer clear these. The firm notes that several early participants of IDOs are the ones that typically make off with outsized returns, while others are left deeply in the red. For the rest of the participants, Messari suggests it is better to wait for the market to settle on a price before buying. In a Twitter thread on September 28, the research firm explains that IDOs, which are “conducted on automated market makers…

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Defi Token Exposed as Pump and Dump Scam in Leaked Telegram Chat 

A leaked Telegram discussion by 50 so-called crypto influencers has exposed the extraordinary steps they take in order to profit on the back off unsuspecting defi investors. According to a leaked screenshot of the chat, an elaborate plan to defraud defi investors using the worthless “$Few” tokens had been hatched. $Few tokens would be airdropped to some of the influencers who in turn promoted these to unsuspecting followers on Twitter. Once the “new flash mob project” gained traction, members of this conspiracy planned to sell the “airdropped” tokens to defi investors and thus make a profit in the process. According…

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Chainlink Token Down 60% in Under 40 Days: Opponents Ask If the Bubble Has Finally Burst?

After reaching an all-time high of $19.20 on August 14, the Chainlink token now trades lower after losing more than 50% in value in just over a month. The token, which briefly overtook Bitcoin Cash as the fifth-ranked crypto in market capitalisation terms, was ranked 9th on Markets.Bitcoin.com at the time of writing. On the surface, the token’s fall appears to be in sync with the rest of the crypto market, which has been dropping since Monday, September 6. Yet opponents of Chainlink insist there is more to Link’s fall than just the current bearish market trends. They point to…

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Uniswap’s Rally Of 600% Could Trigger Another DeFi Boom

Uniswap’s rally of an amazing 600% could start another Defi boom as the decentralized exchange shocked the world when it releases the UNI token earlier this month as we reported in the crypto news. The coin was released retroactively to the historical users of the platform but even still, the governance token surged shortly after the launch, shaking of the strong selling pressure from those that dumped their fee allocations. From the lows put in an hour after the launch, the Ethereum-based UNI surged to 600 percent, reaching a price point of $7 as of the time of writing. The…

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Defi Boom: Bubble Fears Grow as ‘Toxic’ Community Disagrees on Way Forward

The decentralized finance (defi) space is headed for an implosion unless the divided community leaders step forward with solutions. This is discernible from September 13 Sunday morning tweets by some influential players in the defi space wherein they attack each other. Waves blockchain creator Sasha Ivanov kicked things after depicting current defi ecosystem as Ponzi 2.0 and not the much talked about finance 2.0. Sam Bankman-Fried (SBF), the current leader of Sushiswap, expresses fears that yield farming food tokens are in fact propagating the decentralized finance (defi) bubble, while the Yearn Finance creator, Andre Cronje believes liquidity fragmentation to be…

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Defi Trader Pockets $250k From Bug Exploit, Hints at Possible Exit Scam by $SYFI Devs

An anonymous Defi trader says he gained almost $250 000 after inadvertently exploiting a rebase bug embedded in the $SYFI Defi token. The trader, who insists he had no prior knowledge about the bug, got this reward after staking an initial investment of 0.5 ETH or about $175 at current prices. In a long Twitter thread published September 6, the trader who uses the name Amplify thinks the bug was deliberately set in the rebase code. The trader suspects $SYFI devs to be behind the act. To help his followers understand how the exploit occurred, Amplify starts the thread by…

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Declining ETH Gas Cost Still Higher Than BTC Fees: Supporters Insists ETH 2.0 to End High Fee Woe

Ethereum network gas fees that averaged $15.13 on September 2 have been declining in the past four days ending the day at $3.43, according to Token View charts. At that cost, ethereum fees are still ahead of those on the Bitcoin network that averaged $2.75 on September 6. The highest average daily fee on the Bitcoin network of $5.31 was recorded on September 4. In the meantime, the Token View charts also seem to support the notion that the start of the Defi boom coincided with the spike in Ethereum gas fees. For example, between early June and July 19,…

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Market Update: Cryptocurrency and Gold Markets Fueled by Failing Global Economy

The cryptocurrency economy has spiked significantly on July 26 into the overnight trading sessions capturing over $300 billion in value. Bitcoin is trading above the $10,360 zone while ethereum is swapping for $321 per coin. Meanwhile, the precious metals gold and silver have seen incredible gains as well on Monday. The Crypto Economy Surpasses $300 Billion While the global economy has been shuddering, precious metals markets and cryptocurrencies have seen significant value flow into these ecosystems. On Monday, July 27 the entire cryptocurrency market capitalization of all 5,700+ coins in existence is around $304 billion. Ethereum (ETH) has gained 3.9%…

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Market Update: Crypto Cap Nears $300 Billion, BTC Hits $10K, ETH Rallies Hard

The digital currency economy is steadily approaching a $300 billion market capitalization, as a great number of coins have been seeing decent gains. Bitcoin touched a high of $10,135 on July 26, during the early morning trading sessions, but ethereum is outpacing the top crypto measured by market valuation. At the time of writing, the crypto economy is a force to be reckoned with as a number of digital assets have grown more valuable this week. Bitcoin (BTC) is hovering between $9,900 and $9,950 during the course of the late afternoon (ET) trading sessions. BTC is up over 2.3% today…

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