DeFi

Node operators, external development, and validators could benefit from the increased involvement in Lido staking. The LDO price has the potential to trend upward before the proper Lido V2 launch.   Thirteen days after Lido Finance [LDO] announced its V2 upgrade, the largest since its launch, the token’s value has increased by 33%. Needless toContinue reading “Lido Finance: How these factors helped LDO climb 33% after V2 reveal”

About 3.75% of CAKE’s circulating supply was burned in the latest round. Buoyed by whales’ accumulation, the token’s prospects looked bullish. PancakeSwap removed more than seven million CAKE tokens out of circulation as part of its burn program, intended to add deflationary pressure on the coin. The tokens burned were worth $30 million in value.Continue reading “Less CAKE on the menu? This is how PancakeSwap intends to make party bigger”

MultiversX’s TVL has been on a rally since the year began. After the name change and rebranding in November 2022, the chain has seen increased user activity. Formerly referred to as Elrond, MultiversX, the metaverse-focused project, has seen a surge in its Total Value Locked (TVL) since the start of the year. According to dataContinue reading “Elrond TVL increases considerably, but what’s the reason behind the hike?”

DEX fees decline as competition increases. Despite the growth of protocols, tokens face the heat. According to data provided by Messari, the fees on DEXs have drastically reduced over time. This decline in fees would help DEXs such as Uniswap, Curve, and SushiSwap attract more users to their respective protocols. The decline in fees isContinue reading “Curve, Uniswap and SushiSwap battle it out as DEX fee keeps declining”

Many existing stablecoins would fail to meet the high-level recommendations set by global standard setters such as the FSB. The FSB, the financial regulator funded by the BIS, plans to finalize its recommendations for regulating crypto and stablecoins by July this year. Many existing stablecoins would fail to meet the high-level recommendations set by globalContinue reading “Existing Stablecoins won’t meet forthcoming global standards: FSB Chair”

GMX’s total value locked increased by 35% since the FTX debacle. The protocol’s native token registered a jump in price and trading volume in recent days. According to a tweet by an on-chain analyst, one of the largest decentralized derivative exchanges GMX, hit a fresh all-time high (ATH) in its total value locked (TVL), underliningContinue reading “GMX scales to new highs on DeFi front- Here’s everything you need to know”

Arbitrum’s daily transactions reached a new all-time high. Consequently, revenue generated by the platform increased. Over the past few days, there has been an air of optimism in the crypto space. Arbitrum managed to cash in on this sentiment. According to new data, Arbitrum has reached a new all-time high in terms of the numberContinue reading “Arbitrum breaks its own record, but what’s the reason for the same?”

Solana’s key DeFi indicators showed signs of recovery in an otherwise under par February SOL’s high volatility kept investors on their toes According to an 18 February tweet by Kamino Finance, Solana’s [SOL] decentralized exchange (DEX) activity was better than other chains in 2023 if a particular metric was put into consideration. How much areContinue reading “SOL prevails in the DeFi landscape, but testing times remain”

Polygon’s DeFi ecosystem registered growth with multiple new integrations and partnerships. MATIC’s response to these developments was positive and metrics were bullish.  The crypto community is ecstatic about the long-awaited release of zkEVM. Polygon [MATIC] recently announced that the zkEVM mainnet will go live on 27 March 2023. Only five weeks ahead of Polygon zkEVM’sContinue reading “How Polygon’s DeFi space is fueling MATIC’s uptrend”