Markets - Page 14
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Crypto Stabilizes But White-Knuckle Ride May Continue as Investors Eye $20K Level
The crypto market’s all-time highs are just a memory. The summer slump now seems to be deepening into something more disturbing. And it’s not so far-fetched that Bitcoin may give back all of its gains since the first quarter if bears continue their rampage. Gird yourselves, it’s white-knuckle time in crypto. On Tuesday, Bitcoin had…
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Crypto Drops Amid Large-Scale Macro Selloff
Crypto prices have taken a hit in the past 24 hours with open finance’s leading index DeFi Pulse Index down 8.14% at the time of writing and Ether down 8.9% in that same span. Bitcoin too is down 6.1%. The selloff comes with the backdrop of a slump in the general equities market — the…
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ShibaSwap Is Dragging Ethereum By the Tail
For any Defiers wondering why gas prices on Ethereum have been so high over the past few days, you can blame it on the dog — $SHIB, that is. The meme coin’s revival through a new swap protocol has driven traffic, and gas costs, through the roof. While most meme tokens that moonshot and then crash…
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Insane Money and a Hype-Drunk Market: Are NFTs the New ICOs?
“If you have seven figures in JPEGs…” Deeze doesn’t have to finish the thought as he scrolls through his gallery of NFTs. The 27-year-old collector doesn’t have his camera on, but his profile photo is an NFT avatar with a hoodie and 3D glasses blowing bubbles from a pipe. It’s an aesthetic he searches for across…
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DeFi Rates are Sliding Closer to TradFi Yields
DeFi’s borrowing and lending rates are trending downwards, opening questions of what will happen to open finance if yields converge with those of traditional finance. Borrowing rates for USDC have declined to 2.5% and 3.1% on Compound and Aave, from over 15% three months ago, according to LoanScan. Lending rates have suffered similar compression, with…
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Liquidations Ease Up as Investors Search for a Crypto Bottom
Where’s the bottom? That’s the vital question investors are asking with ETH down almost 18% in the last 30 days, and with other major Ethereum-based DeFi tokens nosediving as much as 57% in the same time span. Clear Deviations The one bright spot is that this week hasn’t been quite as brutal as the horrorshow…
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What Bear Market? YGG Goes Big on Gaming NFTs with Token Launch
Defying the funk that’s gripped the broader crypto market, Yield Guild Games (YGG) announced today that it will release its YGG token on July 27 on Sushiswap’s MISO launchpad. The move comes as NFTs are increasingly being utilized in gaming. Launched in October 2020, YGG is a decentralized autonomous organization (DAO) that invests in NFTs;…
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Liquidations Whack Synthetix
In a sign of volatility in the blockchain-derivatives market, liquidations on the Synthetix platform skyrocketed to $19.4M, on June 11, a 30-fold jump from the next highest level on May 13, according to data from The Graph. . As worrisome as that spike might be, the liquidations were right in line with how the system…
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Stablecoins Prove Their Worth During Crypto’s Slide
If a long bear market is truly beginning in cryptocurrencies, then be thankful for stablecoins. With the Defi Pulse Index (DPI) down 40% on the month and the overall crypto market losing a third of its market value, the stablecoin supply has continued to march upward. Stablecoin supply grew 21% in the last 30 days…
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Defiant Degens: How to Farm IONX on Charged Particles
This is a weekly tutorial on the most compelling opportunities to consider yield farming, written by our friend DeFi Dad, an advisor to the Defiant and member of the core team at Zapper. The goal is to expose more Defiant readers to new DeFi applications and their associated liquidity mining programs. Background on Protocol: Last…