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Major Defi Token Prices Plunge, as Money Moves Back Into Bitcoin

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Major decentralized finance (defi) projects fell sharply in October, with token prices tumbling by between 30% and 56%, as money appears to be moving away from the overhyped space and back into bitcoin. According to Coingecko data, Andre Cronje’s Yearn Finance (YFI) fell fastest, crashing 56% to around $10,400 as of Nov. 1, down from … Read more

Yearn Finance Founder Andre Cronje’s New Defi Token KP3R Soars 3,600% 24 Hours After Launch

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Yearn Finance founder Andre Cronje’s new defi token called KP3R has soared more than 3,600% in just over 24 hours after official launch, as yield farmers pour in millions of dollars into the project. The token opened at just $10 on Uniswap on Oct. 28, but is currently trading at $373.58, as of press time. … Read more

Defi Protocol Harvest Finance Hacked for $24 Million, Attacker Returns $2.5 Million

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Decentralized finance (defi protocol) Harvest Finance was hacked on Monday for $24 million. The attacker targeted the protocol’s liquidity pools, performing an arbitrage attack using a large flash loan – a type of uncollatarized loan – but later returned $2.5 million. In seven minutes, the hack was complete. Harvest Finance revealed that the hacker “manipulated … Read more

Stablecoin Supply Doubles in 3 Months as Combined Market Cap Surpasses $20B

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2020 has been the year of stablecoins, as the token supply has doubled in the last three months. The aggregate market capitalization of 28 stablecoins captures over $20 billion on October 4, 2020. While tether still dominates the stablecoin ranks, USDC has been moving closer toward the top ten crypto coins. USDC is also the … Read more

Survey: Large Number of Yield Farmers Can’t Read Smart Contracts Despite High Risk

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A new Coingecko survey has found that a large number of yield farmers do not know how to read smart contracts despite claiming they understand the risks that come with such investments. According to the survey, which polled 1,347 people, around 40% of decentralized finance (defi) users cannot comprehend the smart contracts they use for … Read more