DeFi

Polygon’s zkEVM Witnesses Unprecedented Growth in TVL and Transaction Volume

Polygon’s zkEVM, the Zero-Knowledge Ethereum Virtual Machine, has witnessed an extraordinary surge in Total Value Locked (TVL) and transaction volume, signaling remarkable growth for the network. This surge brings forth several significant advantages, including reduced fees and accelerated adoption of decentralized finance (DeFi) protocols. Growth and transaction volume on Polygon

May 17, 2023 3 mins read

Chainlink (LINK) Poised for Bull Run as Market Recovers

Chainlink Automation Goes Live on Optimism: Enhancing DeFi Capabilities

Chainlink Automation, a decentralized oracle solutions provider, successfully integrates with the Optimism network, marking a major milestone for DeFi. The partnership combines Chainlink’s tamper-proof data inputs with Optimism’s scalable Layer 2 technology, promising enhanced scalability, reduced costs, and increased security for DeFi applications, enabling complex functions with trust and confidence.

May 16, 2023 3 mins read

Crypto Lender Nexo To Shut Down Operations in the UK

Recently released records indicate that London-based crypto lending firm Nexo has completed the necessary procedures to have its subsidiaries, Nexo Financial Services Ltd. and Nexo Clearing and Custody Ltd., removed from the United Kingdom’s companies register. Nexo co-founder Antoni Trenchev was quoted in a recent Bloomberg article as saying the

May 12, 2023 1 min read

$250M Outflow Witnessed as Voyager Digital Resumes Withdrawals

Voyager Digital to Self-liquidate Assets Post Multiple Acquisition Failures

Due to the failure to reach acquisition agreements with Binance and FTX.US, Voyager Digital plans to self-liquidate its assets and cease operations. The exchange’s unexpected insolvency and the following arrest of its CEO, Sam Bankman-Fried, caused the aborted FTX-Voyager purchase to fall through. Although the digital asset market has been

May 8, 2023 1 min read

Combined TVL Across All DeFi Platforms Nears $50 Billion

On Saturday, May 6, 2023, the total TVL across all DeFi platforms was $49.31 billion, with Lido Finance in the lead with a 24.82% stake, or $12.24 billion. Since last month, Lido’s TVL has increased by 9%, with a modest weekly growth of 2.42%. MakerDAO, Aave, Curve Finance, and Uniswap

May 7, 2023 1 min read

Insolvent Celsius Network Announces App Discontinuation

Eligible Celsius Custody Account Holders Allowed Remaining Withdrawal

Celsius Network, a cryptocurrency lending platform, has announced that certain customers will soon be able to recover their whole initial investments. Even though it has been almost a year since the company temporarily halted withdrawals. Users of Celsius who have only ever had their funds in custodial accounts were previously

May 7, 2023 2 mins read

Hacker Exploits DeFi Protocol DEUS Finance for Over $6 Million

Over $6 million worth of the stablecoin DEI used by the Decentralized Finance (DeFi) protocol DEUS Finance was stolen. PeckShield, a blockchain security company, claims that on May 5 a hacker took advantage of a flaw in the BNB Smart Chain (BSC). More than $1.3 million was stolen in a

May 7, 2023 2 mins read

Optimism Price Analysis: OPUSDT Ascending Scallop Pattern Signals Bullish Breakout

Optimism Leverages Ethereum Attestation Service to Boost User Trust

Optimism, an Ethereum-based layer 2 companion blockchain, is going to utilize the Ethereum Attestation Service (EAS). The Ethereum Attestation Service (EAS) is an on-chain attestation system. That enables users to assess the integrity of the platform’s users and vouch for whether anything transpired on the blockchain. The Ethereum Attestation Service

May 5, 2023 1 min read

RenQ Finance (RENQ) final stage of Presale filled 80%, gets closer to launch

RenQ Finance has been one of the most exciting projects in the DeFi space, with a strong team and a focus on cross-chain interoperability. The project’s presale has been an immense success, with the final stage of the presale almost complete, having already sold 80% of the available tokens. This

May 4, 2023 4 mins read

The most promising project of 2023 RenQ Finance (RENQ) raises $15 Million in its Ongoing Presale.

RenQ Finance (RENQ) is a decentralized finance (DeFi) platform that has been gaining a lot of attention in the cryptocurrency market. With its innovative features, strong community support, and growth potential, RenQ Finance is considered by many to be the most promising project of 2023. In its ongoing presale, RenQ

May 1, 2023 3 mins read