DeFi Tokens Surge as Bitcoin and Ethereum Hover Around Support Levels due to the Coinbase Effect

DeFi Tokens Surge as Bitcoin and Ethereum Hover Around Support Levels due to the Coinbase Effect

As Bitcoin is attempting to stay steadily above its support level, decentralized finance (DeFi) tokens have been surging. As the DeFi sector has been booming this year, cryptocurrency exchange Coinbase recently decided to list a few DeFi tokens on its exchange. These DeFi tokens include Filecoin (FIL), Wrapped Bitcoin (WBTC), UMA (UMA), Uniswap (UNI), Yearn.finance (YFI), Aave (AAVE), Bancor (BNT), and Synthetix Network (SNX). These tokens would be available for Coinbase Pro. Following Coinbase’s announcement, AAVE, BNT, and SNT tokens all surged, rallying from 10% to 24%. A common trend was seen when Coinbase lists new tokens, their prices usually jump in the

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Cardano’s First DeFi Project Revealed as Partnership With Bondly Finance Announced

Cardano’s First DeFi Project Revealed as Partnership With Bondly Finance Announced

Input Output Hong Kong (IOHK), the company behind the Cardano blockchain has just announced a new partnership that would enable the first decentralized finance (DeFi) project on the network. As part of the roll-out of Cardano’s smart contract functionality, IOHK has announced the partnership with Bondly Finance, a company aimed to bring agile and trusted DeFi to everyone.  Bondly would become Cardano’s first DeFi project launched on the blockchain. IOHK’s announcement read: “We’re partnering with @BondlyFinance, which will be the first DeFi project enabled on #Cardano as a part of the roll-out of our smart contract functionality. Our partnership will be a huge

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Crypto User Scammed Out of $20,000 on Fake Uniswap App

Crypto User Scammed Out of $20,000 on Fake Uniswap App

Alex Saunders, the CEO and founder of Nuggets News, has warned the crypto community about a fake Uniswap app that is available for download on Google Play store. The popular crypto commentator tweeted that a member of the crypto community has just lost $20k to the fake Uniswap protocol mobile app on the Google Play store. Saunders has, therefore, advised the crypto community to retweet the incident and report the app so that Android users and others should not fall into victims. It appears that a bad actor copied the Uniswap app and placed it for downloads on the Google Play Store

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SushiSwap Reaches Over $1 Billion in TVL as Uniswap Sees Massive Plummet After Rewards Ended

SushiSwap Reaches Over $1 Billion in TVL as Uniswap Sees Massive Plummet After Rewards Ended

SushiSwap’s token SUSHI made a huge rebound this week, surging by nearly 90 percent in one week. The SushiSwap token is now trading at $1.30, up by over 8 percent in the past 24 hours. The massive rally in SUSHI’s price could be attributed to SushiSwap’s new incentive scheme, which was previously introduced by Uniswap.  While SushiSwap’s token SUSHI was surging, its total value locked (TVL) in DeFi has also tripled and has surpassed the $1 billion mark. SushiSwap, a cloned automatic market maker (AMM), benefitted off of the TVL from Uniswap, as the latter decentralized exchange has ended its rewards on

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Following One Decade Of Growth, DeFi Could Guide Bitcoin’s Next

Following One Decade Of Growth, DeFi Could Guide Bitcoin’s Next

Since 2009, Bitcoin has come a long way while proving its worth, improving its regulatory standing and raising interest globally through media and the internet. From having zero relative value to fiat as a currency in its early days to being valued at $19,783.06 in December 2017, bitcoin has shown immense power. Today, nearly everybody, whether or not they know about blockchain technology, has at least heard of Bitcoin.  Below is a timeline meant to express how far Bitcoin has come in such a relatively short amount of time, from inception as a revolutionary concept to an asset that is

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