Investors will be able to take out crypto loans by pledging TrueFi's U.S. Treasury bill tokens, with plans to expand collateral to other types of tokenized RWAs, according to the proposal.
ParaSwap has now returned assets to wallets that have revoked their permissions to the AugustusV6 smart contract, which was found to have a critical vulnerability last week.
The development team behind the dog-themed meme coin Floki Inu has unveiled its highly anticipated roadmap for 2024, revealing several upcoming features and utility-focused initiatives. Notable highlights include the launch of regulated digital banking accounts, integration with the Venus decentralized finance (DeFi) protocol, the Floki debit card’s introduction, and the Valhalla mainnet’s upcoming release. Floki Inu Aims To ‘Bank The Unbanked’ Floki Inu plans to introduce regulated digital banking accounts, enabling users to create and fund bank accounts using FLOKI tokens. Related Reading: Fantom (FTM) Jumps 180% In 4 Weeks: Just The Beginning? In partnership with an unnamed licensed fintech company operating in key jurisdictions such as Canada, Spain, Dominica, Australia, and the UAE, these accounts will support SWIFT payments and SEPA IBANs. In addition, the upcoming launch of Floki Debit Cards will allow users to link their digital bank accounts to debit cards, providing a convenient and secure way to spend their FLOKI tokens in traditional currencies such as Euro (EUR) and US dollars (USD). According to the proposal, the initiative aims to “bank the unbanked” by enabling a broader user base to access traditional banking services using their FLOKI tokens while increasing the utility and adoption of cryptocurrency. Pending governance approval, Floki Inu also seeks to list its native token, FLOKI, on the Venus Core Pool. This integration aims to unlock deeper liquidity, comparable to established blue-chip cryptocurrencies and allow FLOKI holders to use their tokens as collateral to borrow various assets such as Maker (DAI), Circle’s USDC stablecoin, Binance Coin (BNB) and Ethereum (ETH). By integrating Venus Markets directly into Floki’s user interface (UI), the protocol states that users will have frictionless access to the liquidity provided by the platform, further integrating Floki into the decentralized finance ecosystem. FLOKI-Powered Trading Bot And Valhalla Mainnet Launch Floki Inu plans to introduce a cross-chain Telegram and Discord trading bot powered by the FLOKI token. This bot will allow users to buy and sell cryptocurrencies on leading blockchain networks. Specifically, 50% of the fees generated will be used to buy and burn FLOKI tokens, increasing their utility and contributing to a deflationary mechanism. Finally, the highly anticipated mainnet release of Valhalla, Floki Inu’s flagship utility and metaverse game, will occur. Valhalla on the Mainnet will feature on-chain game mechanics, a PlayToEarn economy, upgradeable NFTs, and an open-world experience. Related Reading: Bitcoin Spot ETFs See 4 Consecutive Days Of Outflows, Here’s What Happened Last Time As of this writing, the FLOKI token has experienced a correction of over 17% in the past seven days, aligning with the overall market trend. This correction has resulted in the current trading price of $0.0002295 for the FLOKI token. Despite the recent downtrend, it is worth noting that FLOKI has still achieved a remarkable year-to-date gain of 440%. This substantial increase in value has propelled the token’s market capitalization to $2 billion, solidifying its position at the 59th spot among the top 100 cryptocurrencies in the market. Featured image from Shutterstock, chart from TradingView.com
Cointelegraph Research delves into the technological innovations of DEXs and identifies key industry trends.
Bybit CEO Ben Zhou advocated for decentralized finance (DeFi) and interoperability between crypto and traditional finance during his Singapore keynote.
In a recent development, Seychelles-based firm OKX, one of the largest cryptocurrency exchanges in the world, has announced the shutdown of its services in India. According to recent reports, the decision comes in response to regulatory hurdles faced by the exchange in the country. Users were notified of the closure through a notice sent on […]
Total fees generated from the top 10 DeFi dApps tracks via DefiLlama will amount to $4.8 billion annually based on the past 24 hours of activity. Across staking, dexes, lending, and wallets, $13.15 million in fees were generated in the past day. Name Category 24hr Fees 24hrs Revenue Lido Liquid Staking $3.38m $337,749 Uniswap Dexes […]
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The Solana ecosystem has achieved a significant milestone by becoming the most popular blockchain ecosystem of the year. This is due to its ability to capture nearly half of the world’s crypto investor interest in the chain-specific theater. Together with the outstanding performance of native meme coins like dogwifhat and important ecosystem project tokens like Pyth, Solana’s comeback to 2021 peaks show a revived faith in the network. Related Reading: Analyst Bullish On Polkadot (DOT), Predicts $17 Price Target Before April Solana’s Dominance: Coingecko Study Insights According to a study by Coingecko, as a result of Solana’s nearly 50% share of global chain-specific interest, and its affiliated projects’ increasing popularity and performance, the ecosystem has a significant mindshare that reinforces its leadership in the cryptocurrency market. Currently priced at $191, Solana (SOL) has increased by 13% in value over the past 24 hours. The fifth-ranked cryptocurrency has a market capitalization of nearly $85 billion, and its 24-hour trading volume amounted to $9 billion. Bitcoin price action. Chart: TradingView The popularity of Solana’s meme coins and ecosystem initiatives are successful in attracting attention to the network’s lively and dynamic ecosystem. As long as Solana is drawing attention and capital, its ecosystem will continue to dominate the cryptocurrency investor scene, paving the way for network expansion and innovation. Ethereum, on the other hand, is the second most popular blockchain ecosystem this year, having garnered nearly 13% of investor interest. Ethereum is probably not a new, hot crypto narrative anymore as its ecosystem and investors are already familiar with it. The Ethereum ecosystem is also seeing its focus spread out among the layer 2 ecosystems that are developing on top of it. SOL seven-day price ascent. Source: Coingecko Factors Driving Solana’s TVL Increase Meanwhile, according to DefiLlama’s data, the Solana blockchain has demonstrated a remarkable performance, with its decentralized finance (DeFi) total value locked (TVL) rising by nearly 80% in the previous month alone. Related Reading: DeFi Turmoil: Over $5 Million Wiped Out In Liquidations Amid Ethereum Price Drop This incredible ascent represented a significant turning point for the network, with the Solana TVL reaching its highest point in the previous two years. According to the most recent report, Solana is among the top five with the fastest-rising TVL in DeFi, with nearly $4 billion. Source: Defillama Much of Solana’s TVL is based on the increase in trade volume, which is tracked by the Defi protocols and operates across its Layer 1 (L1) network. Just this past month, there was a 125% increase in the daily trading volume of these protocols; the level of trading reached a peak of nearly $3.7 billion. Additionally, the network achieved an all-time high of $1.6 million in total daily fees, with fee income of $3.61 million. Featured image from Pexels, chart from TradingView
The Ethereum Foundation (EF) has come under investigation by an undisclosed “state authority,”. As per a commit message on GitHub, the EF received a “voluntary inquiry” from the authority, accompanied by a confidentiality requirement. The details and scope of the investigation remain undisclosed, leading to speculation and uncertainty within the Ethereum community. However, this is […]
Liquid restaking platform EtherFi’s ETHFI token has faced considerable struggles since its airdrop, partly due to one of its early investors selling their airdropped tokens. Blockchain analytical firm Nansen reported how Arrington XRP Capital, one of EtherFi’s investors, allegedly may have gamed EtherFi’s airdrop process for personal profit. Arrington ‘sybils’ EtherFi Nansen’s findings reveal that Arrington […]
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The decentralized finance (DeFi) ecosystem teetered on the brink of a meltdown yesterday as cascading liquidations swept through the market following a sharp drop in Ethereum (ETH) price. Over $5.4 million in collateralized assets were forcibly sold off in a 24-hour period, raising concerns about the stability of the DeFi house of cards. Related Reading: AVAX Price Soars To Highest In Nearly 2 Years, Over 80% Of Holders In Profit Ethereum, the world’s second-largest cryptocurrency by market capitalization, bore the brunt of the liquidations. Its price plummeted over 9% to below $3,200, a far cry from its recent high of $4,092. This price swing triggered a domino effect, as collateralized loans used to amplify returns in DeFi protocols faced margin calls. Data from Parsec paints a bleak picture, with a potential $24 million liquidation event looming if ETH price dips further to $3,008. Volume of transactions involving Ether across Defi protocols. Source: Parsec On-Chain Derivatives Spark $52 Million DeFi Liquidation Blitz To make matters worse, within the same time frame, major on-chain derivatives have triggered liquidations totaling more than $52 million. After selling at a high of $4,100 for Ethereum, short traders recouped their losses by repurchasing the cryptocurrency at $3,200. The pain wasn’t shared equally, however. Panic selling by long position holders, those betting on an ETH price increase, resulted in a whopping $104 million in liquidations compared to a little over $16 million for short sellers. This imbalance could exacerbate the ETH price decline, creating a negative feedback loop. The situation highlights the inherent risks associated with leverage in DeFi protocols, While leverage can magnify profits, it can also amplify losses, especially during periods of high volatility. Ether market cap at $378 billion on the 24-hour chart: TradingView.com The bloodbath wasn’t confined to the DeFi space. The broader crypto market experienced heightened volatility as investors braced for the upcoming Federal Open Market Committee (FOMC) meeting. The potential for a Federal Reserve interest rate hike, coupled with weak inflows into Spot Bitcoin ETFs, cast a shadow of bearish sentiment across the digital asset landscape. Ether price down in the last 24 hours. Source: Coingecko. Ethereum Price At A Glance Currently, Ethereum (ETH) is experiencing a decline of nearly 10% and is currently trading at $3,138. The 24-hour trading volume for ETH stands at $29 million. Ethereum had a 20% retracement, making it the second most significant decliner among the top 10 cryptocurrencies. ETH traders maintained their sense of confidence by retaining and mitigating their positions in anticipation of an impending period of recovery. Related Reading: XRP Price On The Crosshair As Trading Begins On US-Backed Exchange Based on the prevailing market indicators, it is plausible that the price of Ethereum may evade more drops in the foreseeable future, as the bullish sentiment seeks to consolidate at the support level of $3,200, thereby establishing a foundation for a subsequent phase of recuperation. Featured image from Pexels, chart from TradingView
Injective Protocol, a decentralized finance-centric platform, has launched TokenStation. In a blog post on March 18, Injective said the solution, deployed on its mainnet, allows users to launch native tokens. With this tool, Injective said it would empower anyone to create their tokens in a low-fee and scalable environment. Injective Launches TokenStation, Strikes Key Partnership The tool was developed by the Injective community and aims to “remove barrier to entry for token creation.” Like the token creation tools on Solana and Ethereum, for example, using TokenStation, part of the blog post won’t require coding experience. Related Reading: Top Reasons Why The Bitcoin Price Crashed Below $63,000 This makes it easier for individuals and projects to launch on Injective. Beyond token minting, the tool allows token management and integration of tokenomics mechanisms like burning. The blockchain is launching the TokenStation days after partnering with AltLayer, a platform backed by Binance Labs dedicated to developing roll-up technology for Ethereum. Through this collaboration, the two will build a re-staking security framework for Injective Ethereum Virtual Machine (inEVM) applications. The recently launched inEVM allows developers to seamlessly build applications leveraging the high scalability and near-zero fees on Injective. Additionally, the inEVM is set to increase composability between WebAssembly (WASM) and EVM environments. Through this unique feature, Injective can bridge the interoperability of Cosmos, the developer activity of Ethereum, and the high scalability of Solana. Will Volan Help Prop Up INJ Prices? In January, Injective Protocol activated the Volan Upgrade, setting the platform’s plans to build a robust real-world tokenization infrastructure into motion. Part of this was the introduction of a Real-World Asset (RWA) module. In this way, institutions can launch regulatory-compliant security tokens. Additionally, Volan modified INJ tokenomics, making the token progressively deflationary. Burning reduces INJ tokens over time, a measure adopted by other protocols, including BNB and Ethereum. Related Reading: Shiba Inu Ecosystem Blooms: BONE Jumps 44% With $3 Target In Sight While the upgrade and subsequent partnerships have lifted its prominence in decentralized finance (DeFi), growth has been slower than expected. So far, DeFiLlama data shows that Injective Protocol commands a total value locked (TVL) of less than $65 million. This is miles behind Solana or Ethereum, two of the world’s most active smart contract platforms where active DeFi protocols also thrive. Meanwhile, INJ prices, although relatively higher, are under pressure, as seen in the candlestick arrangement in the daily chart. INJ is down 30% from 2024 highs, slipping and following Bitcoin. However, the coin is within a broader consolidation. Resistance and support levels are around $44 and $30, respectively. Feature image from Canva, chart from TradingView
Over the past five days, Bitcoin (BTC), the leading cryptocurrency, has experienced a period of heightened volatility, triggering significant liquidations of leveraged positions as its price fluctuated wildly in hours. After reaching an all-time high of $73,750 on Thursday, BTC experienced a sharp decline to $64,600 on Sunday. On Monday, at the start of the […]
Solana’s SOL has surged to a new all-time high of 0.05797 against Ethereum, according to Tradingview data. This price performance follows its recent surge above the $200 mark for the first time since November 2021, coinciding with the blockchain record-breaking network activity. The price uptick has propelled Solana’s market capitalization to an unprecedented high of […]
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The prices of both Shiba Inu and Dogecoin fell double-digits on Friday after Bitcoin dropped below $67,000. This decline has seen both meme coins lose their gains for the last few days, triggering losses for investors and traders alike. But what was the cause of the crash? Dogecoin, Shiba Inu Follow Bitcoin The price eras […]
In response, Aevo says customers suddenly traded more on its decentralized exchange to try to get some of its airdrop.
The world of Decentralized Finance (DeFi) witnessed a power move this week. Justin Sun, the Tron poster child, strategically deployed a massive 120,000 Ethereum (ETH) into the burgeoning Ether Fi protocol. This $480 million injection not only underscores Sun’s commitment to the DeFi space but also propels Ether Fi to the forefront of the industry. […]
In a recent development, the United States Attorney’s Office in Massachusetts has taken legal action to reclaim $2.3 million in crypto assets and return it to 37 victims who fell prey to online scams and fraud. The civil forfeiture action aims to forfeit various cryptocurrencies, including Circle’s USD Coin (USDC), Tether (USDT), Tron (TRX), Solana […]
Meme coin markets have boomed in tandem with the growth of addresses on their underlying blockchains.
Copying and pasting the Bee Movie script is a niche internet meme that originated on Tumblr and quickly spread to Reddit, YouTube, Facebook, and other social media platforms.
Solana stakeholders are weighing tough choices in an effort to improve the usability of the fast-rising blockchain network.
Uniswap's UNI gained 20% as a governance proposal to distribute protocol revenues among token holders gets overwhelming support in a temperature check before voting.
EigenLayer is now the second-largest DeFi protocol behind Lido after taking Aave’s spot.
The new update expands CoinGecko’s API coverage to 2.2 million tokens across 2.5 million liquidity pools.
"There are possibilities to solidify the treasury at low risk," pseudonymous JPEG'd contributor 0xTutti told CoinDesk.
The amount of ether held on exchanges is at an all-time low of 11%, a sign that more of the cryptocurrency is being locked up for DeFi, the report said.
Decentralized exchange Uniswap may soon have an upgrade to reward holders of governance tokens. The price of UNI has surged as a result.
Ethereum price struggles at the $3,000 level, but data hints at a resumption of the bull trend.
The attractive yield opportunity is causing widespread concern in the crypto community.
Ethena offers a 27% annualized reward to holders of its USDe stablecoins, a yield mostly generated by shorting ether futures.