DeFi

Optimism NFT quests drive growth, usage, and volume. Despite the growth, Optimism lags behind in TVL when compared to Arbitrum. Optimism, a DeFi protocol, saw a significant increase in activity due to its NFT quest projects. The projects have resulted in impressive growth for all participants, with an average growth rate of 32%. The successContinue reading “Assessing the effect of Optimism’s ‘NFT Quests’ on OP holders”

Aave experiences a decline in the number of unique users and transactions despite growth in staked ETH. Even so, interest in the token continues to increase. According to recent data by Messari, it was observed that the stETH pool on the Aave protocol became the largest deposit pool on the platform. This growth was attributedContinue reading “AAVE’s future in limbo? Here are Aave updates you have been missing out on”

Lido’s market share declines as Coinbase enters the liquid staking market. Competitors offer better APR rates and declining network growth affects the Lido token. According to Delphi Digital’s recent data, Lido’s market share declined significantly over the last year. This can be attributed to the entry of Coinbase into the liquid staking derivatives market inContinue reading “Is Lido’s dominance in the liquid staking market at risk? Recent data suggests…”

Azuki, a popular NFT project, had its Twitter account compromised recently, allowing hackers to steal over $750,000 in USDC. Azuki regained control of its Twitter account after some time. Azuki, a popular anime-based NFT project, had its Twitter account compromised on 27 January, allowing hackers to steal over $750,000 in USD Coin (USDC). According toContinue reading “Hackers steal over $750K from Azuki as its Twitter account gets compromised”

The MakerDAO burn strategy was in one of its most active states.  MKR’s momentum could eventually become bearish. Decentralized Finance protocol and builders of DAI, MakerDAO [MKR] have been involved in burning its tokens as part of its tokenomics strategy. This fascinating activity has been happening since 2018. And, in turn, has helped MKR holdersContinue reading “Decoding MKR’s price action after MakerDAO burn activity hit highs”

80% of UNI token holders voted in favor of a V3 deployment on BNB Chain. Uniswap V3 has seen increased adoption since its launch in 2021. Uniswap’s [UNI] proposal to float its V3 deployment on the BNB Chain passed the “temperature check” on 22 January, with 80% of total votes cast in favor of theContinue reading “Uniswap to give PancakeSwap a run for its money with V3 deployment… Details inside”

Whales increased their dominance by gaining an additional 12% of the total AAVE supply. Short-term holders were selling for recently acquired profits despite the forthcoming stablecoin launch. Decentralized Finance protocol, AAVE, last year fixed the launch of its stablecoin, GHO, to happen in the first quarter (Q1) of 2023. While the AAVE community continues toContinue reading “Can AAVE gather desired momentum in Q1 as stablecoin launch approaches”

The MVRV ratio status showed that MKR was not yet overbought Maker began a demo burn operation as 55% of its community voted against the activity According to an 11 January report covered by Santiment, the MakerDAO [MKR] price might not yet correct its trend despite being one of the year’s top performers. The governance token ofContinue reading “MKR’s reversal may not be on the cards as burn trial takes center stage”

Yearn Finance ( YFI) launched a new DeFi feature to allow users to earn through various trade strategies YFI continued rising even after a 7% increase in value over the past week The launch of the Yearn Finance [YFI] Permissionless Vault Factory coincided with the rise in the value of the YFI token. Since theContinue reading “YFI’s recent surge says this about Yearn Finance’s latest market movements”