Ethereum shillers call for $5K ETH, and this time derivatives data is backing them up
Ether bulls have been calling for $5,000 ETH for years, and now derivatives data suggests that the price is finally realistic. Go to Source Powered by WPeMatico
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An In-Depth Look at Olympus DAO Protocol and the Not-So-Stable Stablecoin OHM
In mid-October, Bitcoin.com News reported on how decentralized finance (defi) or algorithmic stablecoins have seen significant demand in 2021. One particular stablecoin called OHM is quite different from the traditional reserve currency defi protocols today, as OHM is a free-floating currency backed only by what’s held in the Olympus DAO treasury. OHM may not be … Read more
Defi Losing Track of Its Core Vision as It Gradually Resembles the Very Idea It Aspired to Change
As defi continues to expand, it risks embracing the very ideology it initially sought to reject as the primary beneficiaries of this new financing paradigm are those who already own digital assets. Replacing Intermediaries Doesn’t Directly Improve Finance When it comes to financial products and solutions, almost everything comes with a catch, be it exceptional … Read more
DeFi protocol Aave encounters major capital flight
Total value locked on the decentralized borrowing and lending platform fell 16% in the past 24 hours. Go to Source Powered by WPeMatico
Total Value Locked in Cross-Chain Defi Bridges Exceeds $22 Billion, Jumping 48% in 30 Days
On October 29, the total value locked (TVL) in decentralized finance (defi) protocols is around $243 billion with Curve capturing 7.76% of the dominance. Meanwhile, as ethereum has the largest dominance of TVL in defi, a number of alternative blockchains are seeing significant increases every week. Moreover, the TVL in cross-chain bridge technology has reached … Read more
Ethereum hits new ATH after Altair upgrade shows clear path to the merge
The price of ETH has been on a bullish tear recently. After dropping to around $1,780 on July 21 it has since gained 147% to sit at around $4,400. Go to Source Powered by WPeMatico
Adobe Jumps Into Non-Fungible Token Ecosystem With ‘Prepare as NFT’ Photoshop Tool
Adobe Inc., the American multinational computer software company that’s well known for its platforms like Photoshop and Illustrator, has jumped into the non-fungible token (NFT) universe. According to Adobe chief product officer Scott Belsky in a recent interview with The Verge, “NFTs will change creativity.” New Adobe Photoshop Tool Will Assist NFT Creators in ‘Packaging … Read more
Solana-Based Drift Protocol Raises $3.8 Million — Project Reveals Drift Alpha Ticket NFTs
While the blockchain network Solana’s native token has skyrocketed in value this week jumping 31.4%, the Solana-based perpetual swap platform Drift Protocol announced it raised $3.8 million from strategic investors. At the same time, Drift announced the launch of its alpha mainnet after several months of “grind, hard work, debugging, building security guardrails.” Solana Perpetual … Read more
Expanding ecosystem and $1.86B futures open interest back Solana’s $250 target
Derivatives data shows institutional demand remains strong for SOL, and on-chain data points to a rally to $250. Go to Source Powered by WPeMatico
Non-Custodial Dex Platforms Continue to Expand — Curve, Pancakeswap, Sushiswap, Uniswap Lead the Pack
Five years ago, there was a large quantity of digital currencies and blockchains, but there were very few trading platforms that dealt with decentralized exchange. Since the boom of decentralized finance (defi), there’s now a myriad of decentralized exchange (dex) platforms that allow people to swap funds in a private, non-custodial manner. These days the … Read more