PancakeSwap's 2024 trading volume surged to $310 billion, driven by DeFi growth, layer-2 adoption and user-focused upgrades.
Developers must prioritize user protection in the DeFi landscape.
Decentralized exchange aggregator Jupiter’s governance has approved a proposal to airdrop $860 million worth of JUP tokens to community voters called Jupuary. The proposal, spearheaded by Jupiter founder Meow, aims at incentivizing long-term participation. It lays out a detailed roadmap for the airdrop, emphasizing unity within the community. Meow highlighted the importance of collective decision-making. […]
The post Jupiter to airdrop $860 million in JUP tokens to loyal community voters appeared first on CryptoSlate.
CeFi and DeFi ecosystems do not need to be divided as regulation is well-positioned to help DEXs improve universal standards, the GRVT CEO said.
A $450,000 hack on Clipper was likely from a withdrawal vulnerability, not a leak, the decentralized exchange has said.
Ethereum’s DeFi sector is experiencing a revival, fueled by renewed market enthusiasm following Donald Trump’s election victory. The total value locked (TVL) in Ethereum’s DeFi ecosystem has surged past $80 billion, marking its highest level in over two years. These numbers come as key players like Aave and Uniswap have also achieved significant milestones during […]
The post Ethereum DeFi TVL hits 2-year high as activity on platforms like Uniswap, Aave soars appeared first on CryptoSlate.
Solana (SOL) decentralized finance (DeFi) activity has gained significant momentum, with its decentralized exchanges (DEX) surpassing Ethereum (ETH) DEX in monthly trading volume. So far in November, Solana-based DEXes have recorded over $100 billion in trading volume, marking a major milestone for the ecosystem. Solana DeFi Ecosystem Gains Momentum, Outshines Ethereum DeFi Solana, the fourth-largest cryptocurrency with a reported market cap of $118.34 billion has been on a record-breaking price trajectory. Recently, the digital asset established a new all-time-high (ATH) of $263 after having hit as low as $8 at the peak of the FTX fiasco. Related Reading: Solana (SOL) Bulls Stay in Control: Rally Far From Over? Now, the layer-1 blockchain has achieved another milestone as Solana-based DEXes surpassed $100 billion for the first time in monthly trading volume. According to data from DefiLlama, the 30-day cumulative trading volume recorded by Solana DEXes stands at $116.51 billion. In comparison, Ethereum mainnet-based DEXes saw $61.61 billion in trading volume during the same period. This means Solana’s DEX trading volume was more than double that of Ethereum’s. On a month-over-month (MoM) basis, Solana’s DEX volume surged over 100% from October, which stood at $52.5 billion. Meanwhile, the total value locked (TVL) in Solana’s DeFi ecosystem has increased to $9.30 billion, up from $6.23 billion a month ago. The unprecedented rise in Solana-based DEX trading volume can be attributed to several factors. These include the ongoing memecoin frenzy, the blockchain’s low transaction fees, and an intuitive user interface. It is worth highlighting that Solana’s TVL has yet to surpass its ATH TVL of $10.02 billion, which was recorded almost three years ago in November 2021. In January 2023, the blockchain’s TVL hit a low of $210 million, dragged down by the wider crypto bear market exacerbated by the downfall of FTX exchange. At the time of writing, $3.58 billion of Solana’s TVL is tied to the liquid staking protocol Jito, while Jupiter DEX holds $2.4 billion. Another prominent Solana-based DEX, Raydium, accounts for $2.37 billion of TVL. Where Is SOL Headed? Solana’s growing user adoption has played a crucial role in driving the recovery of its native token, SOL. On a year-to-date (YTD) basis, SOL has gained over 157%, rising from $101 on January 1 to $263 on November 23. Related Reading: Solana Records New ATH After 3 Years: Is SOL Ready To Flip USDT? Despite such extraordinary returns, crypto experts remain bullish on SOL, expecting further gains for the digital asset. According to a recent analysis by Titan of Crypto, SOL may hit $400 as it appears to be breaking out from a prolonged cup-and-handle pattern. Additional bullish factors, such as the declining Bitcoin (BTC) dominance and the rising likelihood of a Solana exchange-traded fund (ETF), could further propel SOL to new highs. SOL trades at $248.31 at press time, up 0.5% in the past 24 hours. Featured image from Unsplash, charts from DefiLlama.com and Tradingview.com
Solana’s fresh all-time highs were driven by investors’ memecoin mania and euphoria over Bitcoin’s strong rally. Can SOL hit a new high?
The Solana network remains one of the leading blockchains in the dynamic crypto sector, drawing in a significant number of users on a daily basis, which has led to a recent notable spike in its transfer volume to unprecedented levels. Solana Sets New Benchmark In Adoption Glassnode, a world-leading on-chain and financial platform, reported that the […]
The Bank for International Settlements (BIS) has revealed that institutional players dominate liquidity provision on decentralized exchanges (DEXs) like Uniswap, according to a Nov. 19 report, In a recent report titled “Decentralized Dealers,” the BIS analyzed the behavior of sophisticated and retail participants in Uniswap v3’s liquidity pools. The study examined their responses to market activities […]
The post BIS report on DeFi activity reveals institutional traders heavily outmaneuver retail on Uniswap appeared first on CryptoSlate.
Everything but ETH seems to be rallying, even though Ethereum’s DApp volumes are surging. What gives?
Trading tools on Solana are immensely profitable. In fact, they tend to rival or exceed DeFi blue chips like Maker, Aave or Lido.
WazirX announced plans to launch a decentralized exchange (DEX) as part of a broader effort to enhance user security. The move follows a major breach in July, when hackers siphoned $235 million from the platform, sparking concerns over the security of centralized exchanges. WazirX co-founder Nischal Shetty said the new DEX would operate alongside the […]
The post WazirX announces plans to launch DEX amid fallout from record crypto theft appeared first on CryptoSlate.
A drop in Ethereum network activity and investors' concerns about the global economy continue to weigh on ETH price.
ETH price struggles to find reasons to rally after the network’s DApp volumes drop and Ether languishes near the $2,250 support.
ETH price struggles to find reasons to rally after the network’s DApp volumes drop and Ether languishes near the $2,250 support.
1inch claims that the feature has built-in security against maximal extractable value (MEV) attacks.
Next-gen zero-knowledge proofs are “orders of magnitude” cheaper than existing options, Risc said.
Competition is mounting among DeFi derivatives protocols after Synthetix launched on Arbitrum in July.
Competition is mounting among DeFi derivatives protocols after Synthetix launched on Arbitrum in July.
One CFTC commissioner dissented, calling the action “regulation by enforcement.”
Synthetix faces fierce competition on the DeFi-oriented layer 2.
Synthetix faces fierce competition on the DeFi-oriented layer 2.
Analysts forecast $300 to $1,000 SOL, but network data suggests that a rally to $190 is a more realistic expectation.
Coinbase’s layer-2 blockchain hosts approximately 80% of Uniswap’s monthly active traders.
Smart contract proxy upgradeability allows developers to update the logic of deployed smart contracts while preserving the contract’s state and address. This provides flexibility to fix bugs or add features but also introduces potential risks. Smart contracts, self-executing agreements on blockchain networks, traditionally operate as immutable code once deployed. This immutability is a cornerstone of […]
The post Understanding the pros and cons of smart contract upgradeability in DeFi appeared first on CryptoSlate.
This week, a bill placed on the Senate calendar introduces several provisions that could impact digital asset protocols and tokens. Although it does not explicitly ban digital asset protocols, its broad scope could allow it to become an attack vector for anti-crypto aspects of the US government. The Senate Select Committee on Intelligence passed the […]
The post Senate bill could target crypto protocols due to broad language on digital assets appeared first on CryptoSlate.
SOL price rallied 5% today, but on-chain data raises doubts about whether Solana can overcome the barrier at $190.