DEX and interoperability upgrades show TomoChain (TOMO) wants DeFi dominance

The cryptocurrency market started the year in full force and with all the bullish breakouts happening it can be difficult to discern which projects are simply being driven by the macro trend and which are making gains based on solid tech developments and improving fundamentals.  As the price of Bitcoin dropped more than $11,000 between Jan. 10 and Jan. 11, a number of altcoins saw double-digit losses but a few DeFi and layer 2-oriented coins bucked the trend and quickly recovered as BTC price consolidated. For example, TomoChain (TOMO) saw…

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OCC’s Brian Brooks thinks that DeFi can root out bias and fraud in traditional banking

In an opinion piece published in the Financial Times on Tuesday, Acting Comptroller of the Currency Brian Brooks put forward the need to reconfigure banking regulations for an age of algorithms.  Brooks, who currently leads the Treasury’s Office of the Comptroller of the Currency, compared existing banking regulations to traffic laws. He further used the analogy of self-driving cars for new steps in decentralized finance. “Just as the original rules of the road protected us from other drivers, so our current bank regulations exist mainly to prevent human failings,” wrote…

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DeFi coverage protocol expands protection against centralized exchange hacks

DeFi coverage protocol Nexus Mutual expanded the list of centralized exchanges eligible for incident protection. Users trading on Binance, Kraken, Coinbase and Gemini are now able to buy protection in the event of an exchange hack or prolonged withdrawal downtime. The project announced the new integrations on Monday as part of their “custody cover” initiative. Users who buy coverage will be eligible for compensation if the custodian gets hacked and the user loses more than 10% of their funds. Alternatively, the claim can be honored if the custodian suspends withdrawals…

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Solana (SOL) trading volume soars as DeFi investors seek ETH alternatives

2021 got off to a quick start and the current crypto bull market has seen assets like Bitcoin (BTC) and Ether (ETH) shoot to new all-time highs on an almost daily basis.  While new price highs are positive for investors, they do present a range of challenges relating to fees, transaction speeds and the centralization of what is meant to be a decentralized ecosystem. Since mid-2020 institutional investors have been steadily flooding into cryptocurrency and this is exacerbating the issue of scalability, high transaction costs and lengthy confirmation times on the Bitcoin…

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THORChain (RUNE) rallies 35% as the entire DeFi sector turns bullish

In the past week, a large number of altcoins have broken from their sideways ranges to post double-digit gains and it appears that investors are interpreting the current trend as a new ‘altcoin season’.  As historical data shows, these altcoin breakouts typically occur after Bitcoin (BTC) enters a consolidation phase after a sharp rally similar to the one the maket has witnessed over the past three weeks. For many of the recent top movers, technical analysis traders are simply capitalizing on tokens that show bullish market structure or are on…

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DeFi integration and layer-2 tech back Matic Network’s (MATIC) 92% rally

The exponential growth of the decentralized finance sector increased activity on the Ethereum blockchain, and this has resulted in slow transaction times and incredibly high fees.  In the last month, Ether (ETH) price has also rallied more than 100%, and gas fees are on the rise again as demand for ETH and a resurgence in the DeFi sector accelerates. Matic Network intends to solve the DeFi and decentralized applications scalability problem by using layer-two technology for off-chain computing. Multiple sidechains can be used simultaneously, and each is secured by a…

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Bitcoin, stablecoins and DeFi: 2020’s top-performing crypto assets

Bitcoin (BTC) has had a stellar 2020, but how are other top crypto assets faring? Let’s take a look at how some of the top cryptocurrencies by market capitalization performed this .  Bitcoin First, Bitcoin has seen a massive gain since Jan. 1, as its price soared from $7,195 to as high as $28,422. Within 12 months, the price of Bitcoin rose by 290%, outperforming all major stock indices and most stocks, apart from a select few including Tesla (TSLA). The main catalysts behind Bitcoin’s rally have been the increase…

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Blockchain Projects Detoken and Anyhedge Launch Bringing Defi to Bitcoin Cash

On December 30, the decentralized finance (defi) platform Detoken and the firm General Protocols announced the launch of Anyhedge, the first public defi product built on the Bitcoin Cash network. Detoken users will be able to hedge or long their bitcoin cash and earn a funding premium while holding their keys in a noncustodial fashion. This week, bitcoin cash (BCH) users will get a chance to leverage the first public defi product built on the BCH blockchain. The team from Detoken and the organization General Protocols recently launched the Anyhedge…

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Changing the way DeFi projects operate

The end of 2020 has been huge for the crypto community. Not only was there a spectacular price surge across digital assets, possibly signaling the beginning of another bull market, but there was also the launch of Ethereum 2.0 beacon chain, which has been in development for some time. The long-awaited update to the Ethereum blockchain transforms the network from a proof-of-work to a proof-of-stake consensus model and is intended to improve speed, security, lower transaction fees and fix the scalability issues that have been holding Ethereum back throughout 2020.…

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Is Defi Coming to Bitcoin Cash? An Overview of Detoken and the Anyhedge Protocol

Maybe you’ve heard of Anyhedge. Last April, news.Bitcoin.com published an article about its announcement, but what is it really? What does it do, and how’s it work? The Anyhedge Protocol Anyhedge is an open-source protocol. It is simply a way to use the blockchain (in this case, the Bitcoin Cash blockchain) to create a specific type of smart contract. The smart contract here is a “hedge” where the hedge is between Bitcoin Cash (the underlying asset of the BCH blockchain) and any other asset. Hence, the name “Anyhedge”. I wanted…

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