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Tag: DeFi
Zcash Privacy Meets Solana DeFi with Zenrock’s Wrapped ZEC Crossing $15M in Volume
Unified custody layer Zenrock’s wrapped Zcash ZEC$665.59 token, known as zenZEC, has recorded approximately $15 million in total trading volume since its debut on the Solana blockchain on Oct. 31. While the number is undoubtedly paltry compared to blockbuster crypto tokens that routinely trade in billions, it signals something more pivotal: the introduction of privacy as a feature in decentralized finance (DeFi), currently leveraging the Solana network, which is known for its faster speed than Ethereum. It reflects a growing appetite among traders and institutions for solutions that strike a…
ETH breaks below key level, shifting interest to ADA and this low-cap DeFi gem with massive growth prospects
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Ethereum may retest lows as Cardano eyes rebound; new DeFi token TAP, dubbed one of the best crypto to buy. Summary Ethereum dips to $3,200 as altcoins like Cardano and new token TAP spark hopes for a faster market rebound. Digitap has so far raised $1.4m in presale, and investors eye up to 5,000% gains amid growing PayFi buzz. It’s token bridges DeFi and TradFi with Visa-like crypto spending,…
Bitcoin Defi Gets Another Institutional Boost Through Anchorage Digital Custody
Cryptocurrency bank Anchorage Digital is opening institutional pathways into Bitcoin-native decentralized finance (DeFi), providing a regulated gateway to BOB’s Bitcoin–Ethereum ecosystem. The custody service provided by a U.S. federally-chartered bank could provide a boost for institutional participants seeking yield opportunities in BOB’s $250 million total value locked (TVL) DeFi platform, according to an emailed announcement shared with CryptoX on Friday. Anchorage also holds a Major Payment Institution License (MPI) from the Monetary Authority of Singapore (MAS) and provides a self-custody wallet called Porto. BOB (“Build on Bitcoin”) describes itself as…
DeFi Turns Toward Transparency Amid Market Turmoil
Balancer suffered one of the largest decentralized finance (DeFi) exploits on Monday, with more than $116 million in staked Ether and liquidity pool tokens drained from Balancer v2 contracts and several forks. The decentralized exchange (DEX) and automated market maker (AMM) investigated what appeared to be faulty access control in its smart contracts, which allowed the attackers to withdraw funds directly from liquidity pools. The exploit began with a $70 million loss, which ballooned to $116 million, primarily affecting liquid staking assets such as Lido’s wstETH and StakeWise’s osETH. In…
Anchorage Digital to power Bitcoin DeFi on BOB
Anchorage Digital, the platform that operates the only federally chartered crypto bank in the United States, is partnering with Build on Bitcoin to expand institutional access to decentralized finance on Bitcoin. Summary Anchorage Digital now supports BOB, a decentralized finance chain that taps into Bitcoin and Ethereum. BOB has picked Anchorage Digital as its crypto custodian. Move comes as Bitcoin DeFi sees its total value locked hit $9.3 billion. The decentralized finance ecosystem has received a further boost as crypto bank Anchorage Digital becomes a preferred custodian. This support will…
Web3 gaming, DeFi lead sector activity in October despite market decline: Report
Despite a dip in active wallets and DeFi losses, blockchain gaming and decentralized finance continued to drive most Web3 activity last month. Blockchain gaming and decentralized finance (DeFi) remained the most active sectors in Web3 in October, despite a 3% decline in total daily active wallets to 16 million, according to a new report from DappRadar. Web3 gaming accounted for 27.9% of all decentralized application (DApp) activity over the past month, its highest share of the year, while DeFi maintained solid engagement at 18.4%, despite market volatility and ongoing regulatory…
TeraHash taps ex-TRON lead to drive Bitcoin DeFi growth
Ex-TRON lead Hunter Rogers has joined Bitcoin-native yield platform TeraHash, aiming to drive further adoption of Bitcoin across the decentralized finance ecosystem. Summary TeraHash has added ex-TRON lead Hunter Rogers to its leadership team. Rogers joins as co-founder and will drive the Bitcoin DeFi protocol’s next growth phase. TeraHash brings hashrate-backed BTC yield to DeFi. TeraHash announced Thursday, Nov. 6, that Rogers’ expertise, including in institutional partnerships, will be key to positioning the platform as the go-to protocol for hashrate-backed Bitcoin (BTC) yield. Why it matters BTC-native yield is a…
DeFi players launch alliance to champion Ethereum to policymakers
Major DeFi protocols on Ethereum have banded together to counter the so-called “outsized influence” of centralized crypto firms on US policymaking. Major Ethereum stakeholders have banded together to launch the Ethereum Protocol Advocacy Alliance, focused on coordinating “policy efforts” and educating lawmakers on the ecosystem. The Ethereum Protocol Advocacy Alliance was announced on Tuesday, with the EPAA emphasizing the importance of establishing the group to counter the apparent “outsized influence” that centralized crypto entities had in policymaking. “This imbalance has often left the…
Cardano (ADA) Price Drops 5% Amid Trader Shorts, Hoskinson Blames Community for DeFi Struggles
Cardano (ADA) continued its downward slide on Monday, falling over 5% to trade around $0.57, extending last week’s 10% decline. Related Reading: XRP’s Next Earthquake: Billions Set To Flow In, ‘Supply Shock’ Coming—Analyst Market data from CoinGlass shows trader sentiment turning increasingly bearish, with ADA’s long-to-short ratio at 0.75, the lowest this month. The metric indicates that more traders are betting on further declines. On-chain data mirrors this negative outlook. According to Santiment, daily active addresses on the Cardano network dropped from 32,115 in mid-October to 24,280 on November 3,…