DeFi gateway Yearn Finance is buying its own YFI token dip.  In accordance with mandates in Yearn-Improvement-Proposal 56 (YIP-56), the protocol uses YFI staking rewards to buy back the token and “use bought back YFI for contributor rewards and other Yearn initiatives.”  As such, Yearn Finance periodically buys back its own tokens, recently announcing a…

It’s bad out there — in the past 24 hours Bitcoin plunged as much as 30%, while Ether fell as much as 44%, crypto exchanges were down, price tracking websites collapsed, China crackdown news flashed, crypto Twitter panic ensued. All in all, a classic crypto sell-off. But there are signs the market is starting to…

It’s been a rough week for the crypto market̶ and it appears to be at the hands of “n00bs.”  Ethereum’s ETH is down 15% from its all-time high of $4,356 on May 12, trading just above $3,300 at the time of writing. And Bitcoin has been hit especially hard with a 25% loss over the…

An all-time high of 11.2M Ether is locked in DeFi protocols, despite a weekend sell-off. Liquidations spiked, while tokens continue sliding. Locked Ether’s resilience may show that DeFi participants do not consider the recent drop in price to signal a long-term trend and thus are not unlocking their ETH in order to sell. Borrowers may also…

Filecoin’s token is soaring by the most in all of crypto.  FIL  has jumped 168% to $231 in the last week, the most among the top 100 tokens listed on CoinGecko. The project raised $52M in a presale and $205.8 million dollars in an ICO during the 2017 crypto boom only to largely fall off…

MobileCoin (MOB) is up more than five times in the last 48 hours after a trader was borrowing what was at one point $120k worth of the token per hour to short it, according to crypto influencer who goes by Donny Crypto on Twitter. MOB is the MobileCoin project’s token and is intended for use…

DeFi is regaining its footing in March after a market-wide plunge at the end of February. The DeFi Index Pulse is up 14% this week after dropping more than 20% in the last week of last month. Total value locked (TVL) too, is on the rise in March after a weeklong 20% tumble  to $36B…

Having been some of the highest-performing assets in 2021, DeFi tokens experienced a sharp correction this week. The aggregate market crap in DeFi governance tokens managed to drop approximately 30% from $41 billion to $28 billion within three days.  As of February 25, 2021 using IntoTheBlock’s DeFi Insights Although the market has recovered significantly over…

Non-Ethereum DeFi tokens are outperforming their Ethereum peers. Of the top 10 best-performing DeFi tokens with over $100M market capitalizations in the past seven days, six are non-Ethereum or cross-chain based and four exist solely on the Ethereum blockchain.  On the flip side, looking at the 10  biggest DeFi losers of the last seven days…

DeFi is in its biggest market rout of the year and borrowers are feeling the pain. Liquidations in decentralized finance spiked to a record $133M in the past day, according to Debank data.  $85.2M, or almost 78% of the liquidations, were on  Compound. $13M, or 12%, has been shared between Aave V1 and Aave V2.…