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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Bancor soars 86% in two days as Coinbase lists BNT, DEX volume spikes

The price of BNT, the native token of Bancor, surged 86% in merely two days from $1.02 to $1.919. The rally was fueled by a combination of Coinbase listing BNT and the growing volume of Bancor’s DEX. The Coinbase listing was the primary catalyst behind BNT’s strong 48-hour rally. Almost immediately after its announcement, the token’s price increased by around 16% after spiking to as high as $3.70. Coinbase said on Dec. 16: “Starting today, Coinbase supports Aave (AAVE), Bancor (BNT), and Synthetix (SNX) at Coinbase.com and in the Coinbase…

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First AMM Layer2 DEX ZKSwap Announces Testnet Incentive Program with 1 Million ZKS Tokens Rewards

Asset Manager Vaneck Launches Physically-Backed Bitcoin Exchange-Traded Note On November 25, the asset manager Vaneck announced the launch of an exchange-traded product (ETP) called the “Vaneck Vector Bitcoin ETN.” The exchange-traded note is physically-backed by bitcoin and listed on the trading exchange Deutsche Böerse Xetra. The newly listed … read more. Major Australian Investment Firm Moves From Gold to Bitcoin A billion-dollar Australian investment management firm has gotten into bitcoin, citing that the cryptocurrency is superior to gold. Many of the firm’s clients have been asking about investing in bitcoin.…

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Centralized Exchange Operators Believe Low Liquidity on DEX Platforms Stops User Migration

Centralized cryptocurrency exchanges (CEX) operators say they are unfazed by the increasing trading volumes on decentralized exchanges (DEX) because the latter’s liquidity is still too insignificant to cause user mass migration. The majority of CEX operators also insist that it is very unlikely the DEXs’ liquidity would surpass their own liquidity in 2 years’ time. The comments by operators of CEX platforms come at the time when traded volumes on DEX applications are increasing courtesy of the rapidly growing Defi ecosystem. Underlining this growth is Uniswap’s monthly trade volume which…

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Q3 Crypto Volumes up by $155 Billion as Defi Hype Drives DEX Growth by 197%

The latest data from Coingecko shows that the combined trading volumes of cryptocurrency exchanges went up by $155 billion between July and September, from $175.7 billion to $330.6 billion. The new total volume represents a 88% increase which Coingecko attributes to the decentralized finance (defi) hype and yield farming frenzy that peaked in August. In the report, Coingecko also observes that from the start of Q3, traded volumes on decentralized exchanges (dexs) grew much faster than those of centralized exchanges (cexs). For instance, in Q3, “the monthly average dex trading…

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Uniswap Captures $2 Billion Locked, Dex Volume Outpaces Second-Largest Centralized Exchange

The decentralized exchange (dex) built on Ethereum, Uniswap has accumulated a whopping $2 billion in total value locked (TVL) this week. Tuesday’s data shows out of all the decentralized finance (defi) application’s Uniswap dominates the $11 billion landscape by over 18%. Just recently, the defi space has touched a few new milestones as the ecosystem’s TVL this week has topped $11 billion. The dex Uniswap is dominating the defi landscape by 18.65% with over $2 billion TVL to-date. Uniswap is followed by Makerdao ($1.9B), Aave ($1.56B), Curve.fi ($1.22B), and the…

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DeFi’s popularity has pushed DEX volume past $11B

Trading volume on decentralized exchanges, or DEXs, surpassed $11 billion in August as DeFi madness continues making headlines. Numbers from analysis firm Dune Analytics revealed that August trading volume represented an uptick of 152% month-over-month. The main driver behind the skyrocketing DEX volume is Uniswap, which has become a dominant exchange over the last couple of months. Uniswap has accounted for $2.8 billion in volume over the past seven days and $877 million in the last 24 hours. Uniswap even surpassed Coinbase in daily volume on Aug. 30 as investors flock to DeFi and decentralized exchanges.…

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This DEX is ignoring the ‘test in production’ attitude held by other DeFi companies

IDEX, a decentralized exchange, recently underwent a security audit by Qauntstamp prior to the release of its 2.0 mainnet. The exchange’s CEO Alex Wearn emphasized the importance of security audits to Cointelegraph: Depositing funds into contracts that the authors themselves state are unaudited, and were rushed to market in a matter of weeks, is clearly a dangerous game. There have been quite a few hacks and instances of lost funds as evidence of these potential risks. Wearn was alluding to the fact that many popular DeFi projects have launch unaudited —…

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Loopring DEX Quickly Fixes Major Bug Before It Can Be Exploited

On May 7, Blockchain scalability and privacy specialist, Starkware, discovered a critical security vulnerability in the frontend wallet of Loopring’s decentralized exchange. This bug placed all $5 million worth of the exchange’s funds at risk. Starkware alerted Loopring, who shut down the exchange and swiftly fixed the bug. Potential attacker could create all user account keys The vulnerability arose because Loopring users have two keys; an Ethereum key and a proprietary account key. However, the frontend wallet used a 32-bit integer to derive each user’s private key. This could have…

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Bitfinex Lists New Cross-Chain DeFi Token to Drive DEX Liquidity

Major crypto exchange, Bitfinex, continues to drive decentralized finance, or DeFI, adoption by announcing support for a new cross-chain DeFi solution. Bitfinex exchange plans to list pTokens (pBTC) — a new token that aims to unlock cross-chain DeFi liquidity by connecting Bitcoin (BTC) to any blockchain. The token is pegged 1:1 to Bitcoin and is compatible with the Ethereum (ETH) and EOS DeFi ecosystems to date. Bitfinex to streamline liquidity flows between centralized and decentralized exchanges Bitfinex CTO, Paolo Ardoino, told Cointelegraph that the platform expects to add support for…

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