DeFi

Following its alliance with the crypto-sector, Meta [née Facebook] struggled to stay afloat as the company lost $251 billion in value within 24 hours and stock prices plunged by 28.69% over the last month. Employees scrambled to figure out their priorities and decide whether it was time to exit. But considering Meta’s foray into crypto,Continue reading “As Facebook flounders, here’s why these META wordplay tokens are up by 1700%, 200%”

A cat has nine lives, they say. Well, Ethereum is far from being a cat, but according to Arcane Research, the second biggest crypto has been through seven 50% drawdowns. What’s more, this pattern can reveal a lot about Ethereum and the changing market landscape as a whole. So what’s the damage? Ethereum touched theContinue reading “With seven 50% drawdowns in the past, here’s how ETH faring in the market now”

Crypto news was abuzz recently with speculation of the U.S Internal Revenue Service (IRS) writing off the tax on income generated from unsold staked cryptocurrencies. Many, including crypto influencers on social media revered the implication derived from a district court ruling in Nashville. However, experts are now claiming that the industry might have been tooContinue reading “No, IRS may not write off taxes on crypto staking rewards so easily, claim experts”

Last year, the U.K became the leading country in Europe for cryptocurrency transactions, with $170 billion worth of deals. According to a report from blockchain data platform Chainalysis, central, northern, and western Europe (CNWE) had the biggest cryptocurrency economy in the world. CNWE transaction volume grew significantly across virtually all cryptocurrencies and service types. EspeciallyContinue reading “HMRC’s ‘updated’ DeFi staking, lending regulations are here, but where’s the clarity”

While 2021 was inarguably the year of DeFi hacks, 2022 is fast catching up to its predecessor. Although January witnessed its fair share of crypto-crime, February may soon put it in its shadow. Especially now that cross-chain bridge Wormhole has reportedly suffered an exploit worth over $326 million. ‼️ The wormhole network is down forContinue reading “DeFi’s second-largest exploit costs cross-chain network Wormhole over $326M”

Ethereum‘s infrastructure for smart contract-based decentralized applications has so far been unmatched in the blockchain industry, primarily due to its first-mover advantage. However, this dominance has been waning significantly over the past couple of years with the emergence of several alternative layer 1 networks that offer similar features to Ethereum, often at a lower priceContinue reading “Coinbase diverges from Ethereum, lists Solana based tokens FIDA and ORCA”

Blockchain network Cardano is hitting back at criticism for its lack of development activity since smart contract integration was first launched last year. This is not through words, but an acceleration in decentralized application (dApp) development on the platform. The latest to join Cardano’s DeFi ecosystem is ADAX, as the decentralized exchange announced its mainnetContinue reading “Liquidity protocol ADAX launched on Cardano mainnet, several dApps in pipeline”

Decentralized platform Harmony saw renewed traction this month. Its native cryptocurrency ONE reaped the benefits of this interest. After hitting a low of $0.13 on 4 December, the price of ONE rose by 163%. Further, the token marked a new all-time high of $0.38 on 14 January. Interestingly, the token has lost over 53% ofContinue reading “Harmony bets on Bitcoin, Ethereum bridges to improve cross-chain ecosystem”

Layer 2 protocols aimed at bringing scalability to the ever-congested Ethereum network have been stealing the crypto show ever since the DeFi summer last year. One platform that especially stood out was Polygon, which has become a go-to for many to for many DeFi proponents looking for low fees and high speed on their transactions.Continue reading “Polygon reaches new milestone of 7000 dApps, beats ETH’s daily transaction volume”