SUSHI and AAVE, the governance tokens of major DeFi protocols SushiSwap and Aave, severely pulled back after the price of Bitcoin rallied beyond $40,000. Analysts suspect that the profits from DeFi tokens throughout the past few weeks have flown back into Bitcoin. DeFi down bigly, when will it begin recovering? Throughout early February, the DeFi…
Billionaire investor Mark Cuban has been under the microscope in the crypto space over the past few weeks as he has started to tweet more about Bitcoin, Ethereum, and now even decentralized finance tokens to his over eight million followers. Cuban has long been asked about Bitcoin, being a prominent investor and a prominent media figure…
Both Bitcoin and Ethereum have faced sharp declines over the past few hours despite the move to $40,000 on Thursday. BTC is down 10 percent in the past 24 hours while ETH has lost around eight percent over that same time frame. This drop comes amid two events: Developments indicate that Mt. Gox’s liquidators are…
DeFi was the hottest topic of the year in the 2020 crypto realm. It has ruffled feathers and disrupted the financial world as blockchain technology transcends simple value transfer to include other financial services. DeFi is a game-changer, innovation at the forefront, a promise, the next step to a global financial ecosystem where anyone, anywhere,…
It appears that the decentralized finance (DeFi) boom is back after a multi-week hiatus. Ethereum gas fees have once again returned to the levels seen in the summer while DeFi coins such as AAVE, Yearn.finance’s YFI, SUSHI, and more, have begun to outpace Bitcoin by a fair margin. Usage of DeFi platforms, too, has begun…
As some crypto traders on Twitter put it, SushiSwap’s native SUSHI coin just experienced its own Mar. 13. For those without context, Mar. 13 was the day that Bitcoin capitulated from the daily highs of around $8,000 to lows near $3,500 in the span of that day (and then some). Today, SUSHI capitulated from around…
SushiSwap’s native token SUSHI, even after the recent drop, is up strongly since the lows seen in October. From its all-time low price of just over $0.50, the cryptocurrency has shot as high as $3.00. Even at the current price of $2.65, it is up by over 400 percent since the lows. Chart of SUSHI’s…
This has been said many times before but it’s worth saying again, right now, DeFi has largely been relegated to Ethereum. While there are promising decentralized finance projects on other blockchains, they have seen little traction compared to Ethereum, where there is over $10 billion locked, one million total users, and tens of thousands of…
Just ahead of the long-awaited Ethereum 2.0 upgrade, Andre Cronje of Yearn Finance prepares for the next phase of DeFi growth with a flurry of mergers. What does it say about the state of DeFi? Since its launch on July 17th, 2020, Yearn Finance had been envisioned as an aggregator platform encompassing various lending protocols,…
While many expected Bitcoin to steal the show as it has set a new all-time high, this has not been the case: unlike in October, altcoins have matched BTC’s rapid ascent over recent days, moving in tandem with the lead cryptocurrency. No coin has shown this quite as well as SushiSwap’s native SUSHI token. As…