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Billion Dollar Companies Interested In DeFi, As Crypto.com Study Shows

The billion dollar companies are extremely interested in DeFi according to a new study conducted by Crypto.com that we have in our crypto news today. Traditional billion dollar companies are adopting DeFi to improve existing services according to the latest report by Crypto.com which analyzed the adoption of decentralized services. The study found that 86% of companies implemented or are considering implementing financial services based on DeFi. Security concerns and lack of regulations are still the biggest issues to further adoption but according to the study, traditional finance companies are exploring the use of Defi in order to improve their…

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DASH Enters DeFi The Price Reacts Immediately, Jumping By 12%

Right as DASH enters DeFi, its price reacted and increased by 12% over the past day as traders saw the foray in the booming space. In our latest Dash news, we are taking a closer look at the price analysis. According to an announcement, the decentralized autonomous firm entered a new partnership with StakeHound which is a protocol that creates stake-based tokens for all users that are looking to access decentralized finance. The partnership means Dash enters defi and will enable staking coins for a wrapped ERC20 and crypto called StakedDASH. StakedDASH will become an essential bridge between #DASH and…

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Recent BitMEX Crackdown Will Boost DeFi: Industry Insiders

The recent BitMEX crackdown will only boost DeFi as it showed once again that decentralization is the way to move forwards for those offering crypto-related services according to a few industry insiders. In our latest blockchain news, we discuss some more. According to the Defi-focused newsletter The Defiant, the charges against BitMEX by the Commodity Futures Trading Commission will only boost the Defi space and will push more crypto projects into decentralization. The Newsletter quoted Jake Chervinsky who is a general counsel at Compound Finance saying that the latest complaints against BitMEX will not apply to all DeFi protocols as…

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TRON Aims Higher After 10% Increase During Pivot To DeFi

TRON aims higher after the recent 10% increase over the past 24-hours, defying the stagnation in Bitcoin’s price and the ETH local lows. Bitcoin and ETH have gained around 1 percent in the past day so TRON seems to be outperforming them today, as we are reading in our latest TRON trx news. The latest Tron rally came after the blockchain started considering a pivot to offer decentralized finance applications to its users. So far, it has been successful with many blockchain analysts noting a strong uptick in transaction volumes. Therefore, Tron aims higher after the recent 10% increase which…

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Russian Oligarch Will Launch $15 Million DeFi “CryptoBank”

A Russian oligarch Alexander Lebedev will launch a $15 million DeFi “cryptobank” that could spearhead the investment in the new venture as we are reading more in the crypto news. The Russian oligarch whose fortune was estimated at a total of $3.1 billion in 2008, is the former head of the Russian National Reserve Bank who also has investments in Gazprom, Sberbank, and Aeroflot. He owns a UK media empire which includes a British newspaper like the Evening Standard and the Independent and even sold his National Reserve Bank holdings in 2019. According to the reports, Lebedev partnered with the…

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Ethereum’s DeFi Apps Volume Hits $120 Billion In Q3 2020

Ethereum’s DeFi apps volume increased by 99% of the blockchain’s transaction volume in Q3 this year as we are reading more in our ethereum news today. Ethereum’s Defi apps volume skyrocketed to $119.5 billion in the third quarter of the year according to DappRadar’s report which is almost 1200% increase compared to Q2. Decentralized Finance applications accounted for 99% of the volume which means it crushed the ETH gaming sector. The transaction volume on the ETH blockchain reached $119.5 billion in Q3 2020, marking a surge of nearly 1200% compared to the previous quarter according to DappRadar’s industry report today.…

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Dr. Doom Roubini Branded The DeFi Space As “Vaporware”

Dr. Doom Roubini, the popular Bitcoin basher branded the $13 billion DeFi industry as “vaporware” despite its parabolic explosion over the year. In our latest crypto news, we are reading more about his stance on Defi. Due to a confluence of trends including the search for yield on cash and the recovery price of bitcoin, the Defi coins went from a market capitalization of about a billion to $13 billion. Value is accruing within the DeFi apps as opposed to just their coins and according to the data from DeFi Pulse, the value of cryptocurrencies that are locked in decentralized…

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Kakao Eyes DeFi, Wants To Build Crypto Trading Ecosystem

Kakao eyes DeFi, speaking about its goals to build an ecosystem that will serve for trading digital assets as we are about to find out more in today’s blockchain news. One of South Korea’s biggest tech companies said that it wants to enter the DeFi space for trading digital assets, during the forum hosted by a central government agency. The comments were made by the blockchain subsidiary of Kakao, Ground X, which operates the KakaoTalk chat app which is used by about 44 million South Koreans. The business empire comprises of an e-pay platform and banking as well as a…

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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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Polkadot Treasury Aims To Improve DeFi Ecosystem: Report

The Polkadot Treasury aims to improve the Defi ecosystem and it now submitted the first proposals as we are about to read in our cryptocurrency news. Polkadot Treasury will work as a decentralized organization that is led by the community-elected Council that funds other projects. The teams have now submitted proposals that will improve the Defi ecosystem. A few months after the launch of the mainnet, Polkadot established a new decentralized platform (DEFI) in order to fund projects. Called the PolkaDot treasury, it will be governed by council members elected by the community. The Treasury represents funds that are collected…

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Alchemy CEO Says DeFi’s $8 Billion Growth Is At Risk Of Gas Fees

Alchemy CEO says that the latest DeFi $8 billion growth is at huge risk of gas fees with the Ethereum network getting congested and netting miners over $500,000 per hour. Defi could be suffering from the latest success as we are reading further in our Ethereum latest news. DeFi bloated gas transaction fees on Ethereum which would challenge the growth of the industry as the solutions include optimized smart contracts and bundled transactions. ETH 2.0 could help address the scaling issues. Right now, the decentralized finance space is gaining traction with more than $8 billion in total value locked and…

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Curve’s Governance Model Is A Threat For Other Tokens In DeFi

Curve’s governance model is a threat to other Defi tokens as the protocol’s governance tokens could bring huge profits but the liquidity providers don’t actively participate in the governance process which leaves decision making into the hands of the few powerful stakeholders so let’s find out more in our latest altcoin news. With the latest reward boosting the initiative that improved the situation, it doesn’t actually solve the fundamental governance problem. The non-financial incentives are quite important for building long-lasting decentralized communities. A few yield farming schemes over the summer have made a handful of users quite rich. When it…

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DeFi Craze Is Still On, OKEx Lists Eight New DeFi Tokens

It seems like major cryptocurrency exchanges are continuing to elevate the image of the field of decentralized finance, known as DeFi. That being said, the DeFi craze is still on and OKEx is the latest cryptocurrency exchange which hopped on the bandwagon. As we saw in the latest altcoin news on August 28, OKEx announced listings for eight different DeFi tokens including Band Protocol (BAND), JUST (JST), REN, Reserve Rights (RSR), Yearn.finance (YFI), Nexus Mutual (wNXM), YFII.finance (YFII), and Tellor (TRB). The move was commented by many as the pinnacle of the DeFi craze and the right time for OKEx…

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Ethereum Founder Says Unless You Understand DeFi, Better Sit Out

Vitalik Buterin, the Ethereum founder says that if you don’t understand DeFi, maybe it’s a better idea to sit it out, as the decentralized finance space has become Ethereum’s killer use case as we reported in the Ethereum news previously. Nothing shows this as well as Uniswap which is an Ethereum-based decentralized exchange that processes more than 100,000 transactions each day and there are only seven entire blockchain networks that process over 100,000 transactions each day. The $10 billion value of the DeFi coins based on ETH shows that the importance of the market in this network segment. Even still,…

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MyEtherWallet Enters The DeFi Arena By Integrating Aave And Ren

MyEtherWallet enters the DeFi arena by expanding its integrations with decentralized finance adding Aave and Ren as we are reading more in our latest ETH news. MyEtherwallet enters a new phase of its integrations plan through its dedicated wallet communication tool MEWConnect. The project announced an integration with Ren and AAve which marks the first time that third parties will use this technology. MEWconnect is a wallet linking system that is developed for myEtherWallet and it is similar to the ones found on other Dapp-enabled wallets like Metamask or more generalized framework such as WalletConnect. MyEtherWallet’s CEO Kosala Hemachandra said…

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Quantstamp Report: Cardano Will Be The Second Biggest DeFi Platform

The latest Quantstamp report shows that Cardano will become the second biggest DeFi platform after Ethereum, leaving Tezos behind as we are reading in the upcoming Cardano coin news today. According to the leading blockchain security auditing company Quantstamp, Cardano will be the next major DeFi platform leaving Tezos behind. The Quantstamp report shows that the company audited Cardano’s codebase for the past two months and they believe after the Shelley hard fork, Cardano will trail only Ethereum as a smart contract platform, not Tezos. Cardano Shelley upgrade’s roadmap. Will it be crucial for positioning ADA higher? The CEO of…

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Ethereum’s DeFi Space Went Through An Exit Scam And Here’s How

Ethereum’s DeFi space went through an exit scam recently and in our latest Ethereum news, we will see what exactly happened. The growth in ETH Decentralized finance space has been one of the biggest events in the crypto space this year and there are now many coins that pertain to enter the DeFi sector as this part of the cryptocurrency has been dubbed reliable and therefore went parabolic. There have also been high yields/interest rates offered on a few Defi products as well. The profits made in Defi have attracted fraudulent actions as well. Reports came recently suggesting that there…

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OKEx Added CELO And DMG Tokens, Tries To Expand DeFi Portfolio

OKEx added CELO and DMG tokens as a part of the crypto exchange which marks another step closer to the expansion of the DeFi portfolio as we are reading more in the latest altcoin news today. OKEx is another step closer following the listing of the new tokens belonging to emerging DeFi projects and the two new cryptocurrencies DMG and CELO were listed on July 16th with spot trading against USDT and BTC going live on July 17th. CELO is the utility asset of Celo which is a mobile blockchain solution that makes financial tools accessible for everyone. Celo offers…

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OKEx Added CELO And DMG Tokens, Tries To Expand DeFi Portfolio

OKEx added CELO and DMG tokens as a part of the crypto exchange which marks another step closer to the expansion of the DeFi portfolio as we are reading more in the latest altcoin news today. OKEx is another step closer following the listing of the new tokens belonging to emerging DeFi projects and the two new cryptocurrencies DMG and CELO were listed on July 16th with spot trading against USDT and BTC going live on July 17th. CELO is the utility asset of Celo which is a mobile blockchain solution that makes financial tools accessible for everyone. Celo offers…

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ConsenSys Researchers: DeFi Hacks Are Easier To Scale On ETH 2.0

Two Consensys researchers conducted an independent report this week exploring the economic review of the ETH 2.0 Serenity, which is the upcoming shift to a proof-of-stake mechanism for Ethereum. In our Ethereum latest news, we take a closer look. Among the multiple takeaways, the one important to take note of according to the ConsenSys researchers is that attacks on ETH 2 are easier to scale than on ETH 1 and that network security was reliant on the price stability for ethereum. The researcher’s Tanner Hoban and Tom Borgers work in Corporate Development at Consensys but the report was their own,…

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