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DeFi News
Cryptoslate
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MakerDAO community decides to continue Sky rebrand amid centralization concerns in vote
- The MakerDAO community has decided to continue with the rebranding of the project as Sky following a community vote.
- 79.3% of votes supported maintaining the Sky brand, while 18.46% backed a limited brand refresh under MakerDAO.
- Concerns over centralized voting influence were raised, as only around 20 participants cast votes, with four large entities controlling about 80% of the vote share.
- Sky's co-founder highlighted upcoming goals, including expanding the adoption of USDS and launching Spark, the project's first major initiative under the new brand.
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Cryptoslate
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Binance Labs invests in BIO Protocol to advance DeSci, disrupt traditional funding
- Binance Labs has invested in BIO Protocol, a blockchain-based platform aiming to reshape early-stage scientific research funding.
- BIO Protocol operates as a decentralized incubator, bringing together scientists, patients, and investors to jointly finance and develop new biotechnologies.
- Binance Labs' investment will accelerate the growth of BIO Protocol's ecosystem and support its vision of creating an autonomous infrastructure for scientific research funding.
- By decentralizing funding and enabling community-driven investments, BIO Protocol aims to disrupt traditional funding models, accelerate discoveries, and improve access to essential medical innovations.
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TechBullion
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XLink Unveils Whitepaper, Solidifies Position as the Liquidity Layer on Bitcoin
- XLink, the liquidity layer on Bitcoin, has released a whitepaper solidifying its role in the DeFi ecosystem.
- XLink simplifies engagement with DeFi platforms by offering direct interactions between Bitcoin and other blockchains.
- The framework, called Bitcoin-Centric Chain Abstraction, enables seamless interoperability and user-friendly experiences.
- XLink has collaborated with NEAR Protocol to enhance blockchain interoperability and unlock new possibilities for Bitcoin in DeFi.
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NullTX
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DeFi Tokens Surge As Trump’s Election Spurs Investor Optimism
- DeFi tokens, including Uniswap ($UNI) and Lido DAO ($LDO), are surging following Donald Trump's election win.
- Investor sentiment has turned positive due to expectations of a more crypto-friendly administration under Trump.
- LDO token recorded a sharp increase of over 50% in a day, prompting Paradigm to transfer 8.18 million LDO to Coinbase Prime.
- The surge in DeFi tokens reflects the market's optimism about favorable crypto policies, potentially leading to further growth in decentralized platforms.
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TheNewsCrypto
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BlockTower Capital Makes DeFi Token Purchases In the Last 12 Hours
- Crypto investment firm BlockTower Capital purchased $7 million in prominent DeFi tokens in the last 12 hours.
- The acquisitions focused on Uniswap (UNI) and Aave (AAVE).
- BlockTower Capital bought UNI and AAVE from various trading platforms.
- The current valuation of BlockTower Capital's crypto investments is $16.3 million.
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Cryptoslate
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Dapps’ revenue hits $164M in October amid growing adoption
- Decentralized applications (dApps) generated $164 million in revenue in October, according to a report by Binance Research.
- dApps represented 12 out of the 15 protocols with the highest revenues, indicating growing blockchain adoption.
- DEX and trading bot-related dApps were the primary revenue generators, fueled by speculative trading of memecoins.
- Infrastructure projects in the blockchain industry have received over $1.2 billion in funding, raising questions about potential overfunding.
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Changelly
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Best Crypto to Buy Now: Cryptocurrencies with the Most Potential
- The cryptocurrency market is experiencing a resurgence after the winter slump, leading many to wonder which cryptocurrencies are worth investing in. With a wide range of options and fluctuating prices, it can be overwhelming to navigate. We are here to help by providing insights into the best crypto choices for current market conditions.
- Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Ripple (XRP), and Solana (SOL) are some of the recommended cryptocurrencies for long-term investment stability and smart contracts and DeFi innovation, stable growth, cross-border payments, and fast transactions respectively.
- Loopring (LRC), Shiba Inu (SHIB), Avalanche (AVAX), Aave (AAVE), Uniswap (UNI), Toncoin (TON), ChainLink (LINK), Cosmos (ATOM), Stellar (XLM), Filecoin (FIL), The Graph (GRT), Hedera (HBAR), Maker (MKR), PancakeSwap (CAKE), Aptos (APT), and Enjin (ENJ) are also considered top cryptos for various purposes such as data indexing in DeFi, meme coin with expanding ecosystem potential, blockchain interoperability, affordable global transactions, decentralized storage solutions, scaling solutions, and blockchain-based gaming and digital assets.
- Solana (SOL), Toncoin (TON), Shiba Inu (SHIB), PancakeSwap (CAKE), and Cronos (CRO) are some of the cryptocurrencies which are expected to explode in the near future.
- Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Polygon (MATIC), Basic Attention Token (BAT), and Fantom (FTM) are some of the best coins to invest for under $5.
- Adoption, past performance, prospects of adoption, and market conditions and trends are some of the critical indicators to look into while deciding on selecting the best cryptocurrency.
- Bitcoin, Ethereum, or other established projects with solid reputations that promise longevity are recommended for long-term investment.
- AI-related crypto projects like THETA, GRT, and FET; Utility tokens of decentralized applications and cryptocurrency exchanges, such as UNI; Metaverse and NFT projects are currently popular.
- Cryptocurrency investment is known to be high risk and high reward, and there would be different coins going up. Thus, many investors prefer to buy a variety of digital assets instead of looking for one specific new crypto.
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Cryptoslate
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DEGEN L3 migration hindered by Conduit standoff and financial losses
- DEGEN L3 migration hindered by Conduit standoff and financial losses.
- DEGEN faces challenges in migrating DEGEN L3 to a new service provider.
- Conduit's untested upgrade caused chain downtime and loss of user funds.
- DEGEN seeks to avoid legal action but will protect its ecosystem if Conduit fails to comply.
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Hackernoon
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Understanding Runes: A Breakthrough for Fungible Tokens on Bitcoin
- Rune Protocol is the latest protocol to launch on the Bitcoin ecosystem, and one that has made waves across the entire crypto space. It was created to revolutionize the way fungible tokens were issued and controlled directly on the Bitcoin blockchain.
- The objective of the Rune Protocol is to facilitate more minor transaction management on the blockchain via the UTXO-based (Unspent Transaction Outputs) foundation that is consistent with Bitcoin’s original design.
- Casey Rodarmor, driven by his passion for innovation, created the Ordinals Protocol and later developed Rune to expand the DeFi ecosystem on Bitcoin. Establishing a robust fungible token protocol on Bitcoin could greatly expand its user base, attract more developers, and boost transaction fee revenue.
- The protocol utilizes the UTXO model to embed data about token creation and transfers directly within Bitcoin transactions without compromising transaction legitimacy.
- Runes are the basic units representing fungible tokens at the center of the protocol, which can be uniquely identified by its Rune ID, containing its value and current output.
- Three concepts establish the framework of the Runes protocol, namely; UTXOs, Runestones, and OP_RETURN.
- Etching describes a process of creating a fungible token using the Runes protocol. After miners have validated and processed a transaction containing an etched Runestone, a new Rune token is created and stored in the transaction’s allocated output.
- Burning Runes, or Cenotaphs, destroy Runes, incentivizing the conscious and meticulous use of Runes.
- Runes represents a major shift in the interaction possibilities of fungible tokens and the Bitcoin network, revolutionizing the way fungible tokens were issued and controlled directly on the Bitcoin blockchain.
- Compared to other token solutions that create tiny, unspendable outputs, Runes focuses on integration with Bitcoin's UTXO system, reducing blockchain bloat and keeping the blockchain leaner.
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TheNewsCrypto
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RWAs Gain Momentum in DeFi as Investors Seek Stability
- RWA protocols are gaining traction in the decentralized finance (DeFi) space as investors seek stability amidst the volatility.
- The rise of RWA protocols reflects a shift towards asset-backed stability in the DeFi sector, providing access to more stable, income-generating assets.
- Total Value Locked (TVL) for RWA-based protocols has been steadily growing, contrasting with the decline in TVL for traditional DeFi protocols.
- The integration of RWA in DeFi aligns with regulatory scrutiny and could attract mainstream and institutional investors.
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Global Fintech Series
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DeFinity Markets Integrates Fireblocks to enable secure API Digital Asset Operations for Institutions
- DeFinity Markets integrates Fireblocks to enable secure API digital asset operations for institutions.
- The integration allows institutional clients to trade with enhanced transparency, security, and ease.
- Fireblocks' advanced security infrastructure ensures safe storage and transactions for select API clients.
- This collaboration aims to support institutional clients in meeting their digital asset and fiat requirements with efficiency and security.
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TheNewsCrypto
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Ethereum (ETH) Price Surges 10% to Three-Month High
- Ethereum (ETH) has surged over 10% in the last 24 hours, reaching a three-month high above $2,850.
- The global crypto market cap has risen to $2.51 trillion, with Ethereum's market cap increasing by 13.37% to reach $343.12 billion.
- DeFi has seen a 13.59% rise, contributing to Ethereum's rally, along with increased interest in decentralized finance sectors like LSDFi and LRTFi.
- Whale activity has increased, with significant ETH offloading, but technical indicators suggest a strong uptrend with key support at $2,663 and resistance at $2,900.
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Bitcoinist
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Bitwise CIO Declares: ‘We Are Entering The Golden Age Of Crypto’ With Years Of Bull Market Ahead’
- Matt Hougan, Chief Investment Officer at Bitwise Asset Management, believes that the cryptocurrency market has entered a "golden age" with a years-long bull market ahead.
- Hougan is optimistic about the regulatory environment under the new Trump administration, expecting a more favorable stance towards cryptocurrencies.
- He foresees balanced regulation, clearer legislation for stablecoins, and improved conditions for institutional investors to evaluate cryptocurrencies.
- Hougan points to catalysts such as growing institutional interest, the impact of the Bitcoin Halving, and rising US national debt as factors contributing to sustained market momentum.
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Cryptoslate
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Polymarket’s accurate forecast of Trump win highlights gaps in mainstream media, pollsters
- Polymarket accurately predicted President Donald Trump's victory before major media networks.
- Polymarket indicated a 97% chance of Trump winning, diverging from traditional poll-based models.
- Polymarket's decentralized setup allowed real-time analysis and immediate reaction to live updates.
- The accurate prediction highlights the role of prediction markets as tools for real-time insights.
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Global Fintech Series
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HTX Ventures: Fueling Exchanges’ Transformation into Hubs for DeFi-related Services through Education and Diversification, Empowering Investors to Manage Risks and Liquidity in a Volatile Market
- HTX Ventures discussed the transformation of crypto exchanges into hubs for DeFi-related services.
- Exchanges are empowering private investors through diversification and education, offering a wide range of assets and comprehensive educational resources.
- Managing risks and liquidity in a volatile market is a key focus for exchanges, with tools like stop-loss orders and algorithmic risk management.
- Exchanges are evolving into comprehensive platforms for DeFi-related services and focusing on regulatory compliance to provide a secure and innovative ecosystem for investors.
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