Category: decentralized finance

Ethereum Jumps 21% Higher This Week, Second Largest Crypto Market Nears All-Time High

Ethereum Jumps 21% Higher This Week, Second Largest Crypto Market Nears All-Time High

After bitcoin reached its all-time high (ATH) on Wednesday, the second-largest crypto asset in terms of market capitalization, ethereum, is nearing its own ATH. The last time the crypto asset hit an ATH was five months ago on May 12.
Ethereum Climbs 46% in 30 Days, Commands Half Trillion Market Cap
The digital currency ethereum (ETH) came awfully close to surpassing its all-time high this week, reaching $4,379 per unit on the exchange Deribit. That’s only 0.1141% away from the ATH ethereum tapped five months ago ($4,384) on May 12, 2021.
Ethereum’s market movements have been slower over the last week, taking a backseat to bitcoin (BTC) after the first U.S.-based bitcoin exchange-traded fund (ETF) was launched. Three days after the listing, ethereum and a slew of other crypto assets started to pick up the pace in terms of market performance.
Ethereum/USD prices on Deribit as of Thursday, October 21, 2021.
Seven-day statistics show ethereum is up 21.0% this week and during the last month, ether has risen 46.5%. Year-to-date, ether has gained more than BTC, rising 1,084.4% during the last 12 months. ETH has a market capitalization of $513.6 billion today and is hovering at half of a $1 trillion market cap. Additionally, ether is much more valuable than it was during the bull run in 2017, as it has increased 8,985% since the high in December that year.

ETH Dominance Increases Over Last 2 Days, Ethereum Blockchain Still the Defi King
As far as dominance is concerned, BTC currently has 44.5% of the aggregate market cap of $2.79 trillion. Ether has 18.3% and its dominance has increased a great deal during the last 48 hours. At the time of writing, Ethereum’s network hashrate is 717 terahash per second (TH/s) which is equal to 0.717 petahash per second (PH/s). Ethereum proponents that stake ETH with a validator get around 4.89% annualized staking yield.
The top trading pair with ethereum today is tether (USDT) with 43.85% of all ether trades on Thursday. This is followed by USD (19.46%), BTC (12.11%), BUSD (7.38%), EUR (4.14%), KRW (2.68%), and JPY (1.74%). The top exchanges swapping the most ether today include Binance, Coinbase, FTX, Huobi Pro, Bitforex, and Huobi Japan.
The gray section of the chart represents the decentralized finance (defi) TVL held in the Ethereum blockchain on Thursday.
Furthermore, there is $240 billion total value locked in decentralized finance (defi) today and the Ethereum network commands $165.25 billion of that aggregate total. That’s 45.45% of the entire TVL in defi today which is lower than ETH’s 69% defi dominance just a few weeks ago.
Today there’s $86.25 billion in stablecoins on Ethereum, alongside 284,009 BTC, or $18.4 billion using today’s BTC exchange rates. Charts measuring bridges to Ethereum indicate there is $15.29 billion in cross-chain bridge funds held.
What do you think about ether’s market performance this week and the second-largest crypto asset nearing its all-time high? Let us know what you think about this subject in the comments section below.

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A Slew of Defi Tokens Outperform Bitcoin’s Weekly Gains, Defi TVL and NFT Sales Spike

A Slew of Defi Tokens Outperform Bitcoin’s Weekly Gains, Defi TVL and NFT Sales Spike

October has been a strong month for cryptocurrencies like bitcoin but a number of decentralized finance (defi) tokens have seen higher double-digit gains this past week. Moreover, non-fungible token (NFT) sales have picked up and after the total-value locked (TVL) in defi crossed $200 billion on October 5, two weeks later another $22 billion has been added to the TVL.
Defi Network Tokens Polkadot, Polygon, Binance Coin, Stacks Outperform Bitcoin’s Weekly Gains
Bitcoin (BTC) has been doing extremely well and BTC dominance has increased to 45.3% during the last week. However, a decent quantity of defi tokens from specific blockchain networks have outperformed BTC during the last week.
In fact, out of all the crypto assets in existence today, nine different digital assets saw better gains than bitcoin and a great deal of them are focused on defi. Polkadot (DOT) was this week’s leader with an increase of 19.6% and those gains were followed by polygon’s (MATIC) 19.4% percentage gains. Other strong gainers that outperformed bitcoin included binance coin (BNB), stacks (STX), and stellar (XLM).
Total-Value Locked in Defi Sees $22 Billion Added in 2 Weeks
Two weeks ago, on October 5, the total-value locked (TVL) in defi surpassed $200 billion and today defillama.com stats indicate the TVL is $222 billion. The decentralized exchange (dex) platform Curve holds the largest dominance with 7.72% of the TVL in defi. Curve is followed by Aave, Makerdao, and Wrapped Bitcoin in terms of defi dominance on October 18.
$22.42 billion has been added to the total-value locked in defi since October 5, 2021.
Ethereum captures $152.27 billion of the total TVL in defi and the Binance Smart Chain (BSC) commands $19.22 billion. Blockchains that have seen significant increases in TVL in defi include networks like Solana, Terra, and Avalanche. While Avalanche saw a 31.24% TVL gain, Harmony’s TVL increased by 24% during the last week.
Monthly Non-Fungible Token Sales Increase, Opensea Nears $10 Billion in All-Time NFT Sales
Metrics from nonfungible.com’s 30-day market history indicates that NFT sales jumped a great deal on October 5, and have continued to rise. NFT sales recorded during the last month were around $1.836 billion across 174,529 active market wallets.
30-day NFT sales according to nonfungible.com’s 30-day market history since October 5, 2021.
Statistics from Dune Analytics show that the total transaction volume for NFTs measured in ETH, across 5.9 million transactions, is around 3,886,298 ether or $11.1 billion using today’s exchange rates.
Monthly sale data for the trailing 30 days according to nonfungible.com statistics.
Moreover, dappradar.com data shows that the NFT marketplace Opensea is nearing $10 billion in all-time sales and currently has $9.19 billion recorded so far. Axie Infinity has $2.61 billion and the NFT marketplace Rarible has recorded $230.76 million in all-time sales.

Polygon, Binance Smart Chain Addresses Tap All-Time Highs, Dex Trade Volume Remains Flat While Sushiswap Volume ‘Increased Sharply’
Additionally, statistics recorded by Coin98 Analytics weekly defi report indicates that the number of BSC active addresses reached an all-time high. However, the Polygon (MATIC) network surpassed BSC as far as the quantity of wallets created onchain.
“It also reached the ATH of 100 million wallets,” Coin98 Analytics said in its report. “The number of Ethereum wallets has remained unchanged from last week.”
“Total Addresses by Chain” chart via Coin98 Analytics weekly report published on October 16, 2021, features Ethereum, Binance Smart Chain, and Polygon addresses.
The weekly report also discusses defi’s liquidity by protocol, dex platform weekly trading volume, and the daily active dex users as well. The report highlights that while dex trade volume has not grown much, it maintained $20 to $22 billion each month. Coin98 Analytics detailed, however, that Sushiswap volume “increased sharply, reaching $2.7 billion.”
What do you think about the defi tokens outperforming bitcoin and the TVL increase during the last two weeks? What do you think about the NFT sales volumes increasing and the address increase on Polygon and Binance Smart Chain? Let us know what you think about these subjects in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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DeFi Presents Multi-Billion Dollar Use Case To Disrupt Foreign Exchange Market, According to Shark Tank Star Kevin O’Leary

DeFi Presents Multi-Billion Dollar Use Case To Disrupt Foreign Exchange Market, According to Shark Tank Star Kevin O’Leary

Shark Tank star Kevin O’Leary is saying that the foreign exchange market is a multi-billion dollar use case for decentralized finance (DeFi), a form of blockchain technology that supporters claim can revolutionize financial services by eliminating the need for intermediaries.
During this year’s SALT conference in New York City, O’Leary relates how investors must rely on foreign exchange middlemen to invest in overseas markets. He says the extra steps required in such dealings are often unnecessary and burdensome.
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Swiss Bank Seba Now Lets Customers Earn Yield on Crypto Holdings

Swiss Bank Seba Now Lets Customers Earn Yield on Crypto Holdings

A FINMA-licensed Swiss bank, Seba, has launched a program enabling clients to earn yield on their crypto holdings. In addition, the bank will “provide support for centralized lending and borrowing services, enabling investors to generate yield by lending bitcoin and ethereum directly with Seba Bank.”
Seba Earn Lets Clients Generate Rewards From Crypto Investments
Seba Bank, a digital asset banking platform licensed by the Swiss Financial Market Supervisory Authority (FINMA), announced the launch of Seba Earn Wednesday. The Switzerland-based bank described the new offering as “an institutional-grade solution enabling clients to earn yield on their crypto holdings.”
Noting that “The launch of Seba Earn caters to growing demand from institutions to manage a range of digital asset yield use cases from staking to decentralized finance (defi), and centralized lending and borrowing,” the bank elaborated:
Seba Earn’s comprehensive staking management platform will enable institutions and individuals to generate rewards from their crypto investment on networks including Tezos, Polkadot, and Cardano, with more protocols coming in the coming months.

In addition, the announcement explains:
Seba Earn will also provide support for centralized lending and borrowing services, enabling investors to generate yield by lending bitcoin and ethereum directly with Seba Bank.
The bank also noted that it “will continue integrating support for additional coins.”
Guido Buehler, CEO of Seba Bank, commented: “It is clear that as institutional interest in digital assets accelerates, investors have a broader appetite for crypto assets, with a particular interest in earning services like staking, defi and centralized crypto borrowing and lending.”
What do you think about Seba Bank launching a crypto earning program? Let us know in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Total Value Locked in Defi Surpasses $200 Billion — Fantom, Avalanche, Harmony, Arbitrum TVLs Swell

Total Value Locked in Defi Surpasses $200 Billion — Fantom, Avalanche, Harmony, Arbitrum TVLs Swell

Decentralized finance (defi) has swelled quite a bit this year and on October 5, the total value locked (TVL) in defi protocols crossed the $200 billion mark. Since January 1, the defi TVL across various blockchains has risen almost 855% from $21.4 billion to today’s $204 billion.
Total Value Locked in Defi Jumps Over the $200 Billion Handle, Ethereum TVL Commands 69% Dominance
The total value locked (TVL) in defi today has jumped nearly ten times higher than the value at the beginning of 2021. On October 5, 2021, the TVL in defi surpassed the $200 billion handle for the first time and the value has remained above $200 billion during the last seven days.
Statistics from defillama.com indicate that the defi protocol Curve has the largest dominance with $15.94 billion, up more than 7% over the last week. Curve’s dominance is 7.80% on Tuesday and it interacts with six different crypto networks including Avalanche, Ethereum, and Polygon.
On October 5, 2021, the total value locked (TVL) in decentralized finance (defi) crossed the $200 billion mark. The TVL has remained above $200 billion for the last seven days.
Metrics show that Aave, Makerdao, and Wrapped Bitcoin (WBTC) command the third, fourth, and fifth positions in terms of defi TVL dominance. Aave commands $14.87 billion on Tuesday while Makerdao holds $13.48 billion, and WBTC captures $11.99 billion in value.
Between Curve, Aave, Makerdao, and WBTC all four defi protocols have $56.28 billion worth of the aggregate TVL, which is 27.53% of the entire TVL today. The entire $204 billion is across blockchain protocols like Ethereum, Solana, Avalanche, Polygon, Fantom, Terra, Arbitrum, Binance, Celo, and Harmony.

Top Ten Dex Platforms in Mid-October 2021 — Funds Continue to Pour Into Waves, Fantom, Polynetwork, Harmony, Arbitrum, and Avalanche Networks
The top ten decentralized exchange (dex) applications on Tuesday include defi projects such as Curve, Pancakeswap, Sushiswap, Uniswap, Balancer, Uniswap V3, Saber, Serum Raydium, and Bancor, respectively.
The top five blockchains with the most TVL on Tuesday are Ethereum, Binance, Solana, Terra, and Avalanche. The Ethereum chain still commands 69.01% dominance with approximately $141.06 billion total value locked on October 12.
The top seven blockchains in terms of defi total value locked (TVL) per blockchain. Ethereum still commands 69% of the TVL in defi on October 12, 2021.
The second and third-largest TVLs for Binance and Solana are below the $20 billion mark but above the $10 billion line. While Ethereum has seen a TVL increase of 1.65% during the last seven days, Fantom has increased the most during the last week.
Data shows Avalanche TVL has spiked 19.64% but Fantom’s TVL jumped a whopping 225% in a week’s time. Other leaders seeing increases in TVL over the last week include chains like Waves ($2.15B), Arbitrum ($1.52B), Polynetwork ($298M), and Harmony ($205.92M).
What do you think about the total value locked in defi protocols crossing the $200 billion mark this October? Let us know what you think about this subject in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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SEC Commissioner: True Decentralized Projects Pose a Challenge to Crypto Regulation

SEC Commissioner: True Decentralized Projects Pose a Challenge to Crypto Regulation

A commissioner with the U.S. Securities and Exchange Commission (SEC) says that true decentralized projects pose a challenge to crypto regulation. Noting that “decentralized finance carries within itself inherently some ability to self regulate,” the commissioner said, “we need to take that into account as we design a regulatory system.”
SEC Commissioner Peirce Discusses Crypto Regulation and Decentralized Finance
SEC Commissioner Hester Peirce talked about cryptocurrency regulation in an interview with Yahoo Finance, published last week. Peirce is also known in the crypto community as “crypto mom” for her knowledge and support of the crypto space.
She was asked about whether the SEC has any trouble catching up with developments in the crypto space and protocols which are advancing and changing very quickly on a daily basis.
“There is certainly difficulty on the part of a regulator to stay on top of developments in defi [decentralized finance] and crypto more generally,” Peirce admitted. However, she noted:
People shouldn’t assume that the SEC can only focus on one thing. The SEC has a lot of resources and can go after a lot of things simultaneously.
“So, be aware of that, and you need to be thinking about whether the securities laws apply to what you’re doing and consulting with lawyers when necessary,” she recommended.
The commissioner added: “The decentralized world is one that is very new to us because we are used to dealing with large, usually large, centralized intermediaries. So true decentralized projects do pose a challenge.” Peirce warned:
I think what I would caution people to be aware of is that sometimes something claims to be decentralized and isn’t, and there is actually a centralized entity, and I think certainly regulators will be looking to that centralized entity.
SEC Chairman Gary Gensler also similarly said that many platforms claiming to be decentralized were actually centralized. He told Senator Elizabeth Warren in September that many platforms “are only decentralized in name only,” citing that “There is a user agreement.” In addition, he said many tokens listed on cryptocurrency exchanges are actually securities, telling Congress that they needed more regulation.

Peirce further explained:
Decentralized finance carries within itself inherently some ability to self regulate. And I think we need to take that into account as we design a regulatory system.
Commenting on cryptocurrency regulation, the commissioner said, “It is disconcerting to me that for three years now I’ve been asking for regulatory clarity and we can’t seem to provide any.”
She added: “I think this is really becoming a huge barrier to this industry being able to develop in the way that’s safe but also in a way that allows innovation to happen. And it’s a real shame to me that we are not just taking up the mantle as regulators to develop a regulatory framework.”
What do you think about the comments by SEC Commissioner Hester Peirce? Let us know in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Talent Giant Creative Artists Agency Inks Deal With Pseudonymous NFT Whale 0xb1

Talent Giant Creative Artists Agency Inks Deal With Pseudonymous NFT Whale 0xb1

On October 8, the leading California-based talent agency Creative Artists Agency announced it has inked a deal with the infamous non-fungible token (NFT) asset collector known as “0xb1.” The influential talent agency aims to help the pseudonymous 0xb1 monetize the vast NFT collection and bolster “blue-chip brands looking to enter the NFT space.”
0xb1 Partners With Creative Artists Agency to Bolster ‘Advisory Partnerships’
This week the well known talent agency based in Los Angeles, Creative Artists Agency (CAA), revealed it has partnered with a crypto NFT whale called “0xb1.” The character has a Twitter profile and 53,000 followers after joining the social media platform in November 2020. On Friday, CAA told The Hollywood Reporter that it has signed a deal with the pseudonymous 0xb1 and it aims to help “monetize their collection of NFTs through licensing and brand partnerships.”

Super proud to be a part of the CAA family! Will work hard to bring open license NFT brands & properties mainstream starting with @BoredApeYC @coolcatsnft @spunksnft ! https://t.co/hopvjMVsEl
— 0xb1 (@0x_b1) October 8, 2021

0xb1 is an avid NFT collector and the address holds or once held a number of extremely expensive NFTs. 0xb1 collects NFT collections like Cool Cats, Bored Ape Yacht Club (BAYC), and Mutant Ape Yacht Club (MAYC), among a number of individual NFTs as well. In order to help 0xb1, the talent agency CAA will facilitate “advisory partnerships.” Using the social media account on Twitter, 0xb1 confirmed that it had partnered with the Los Angeles-based firm. CAA also inked a deal with the BAYC’s Jenkins The Valet on September 22.
Licensing intellectual property in regard to the hottest non-fungible token (NFT) assets and collectibles these days has been all the rage. On September 1, Bitcoin.com News reported on the talent giant United Talent Agency (UTA) signing a deal with the prominent NFT projects Cryptopunks, Autoglyphs, and Meebits. As far as 0xb1 is concerned, the NFT collector is a mega whale and onchain sleuths have been following its onchain movements and NFT purchases for quite some time.

Onchain sleuths Follow 0xb1’s Movements and NFT Buys
For instance, the Twitter account dubbed “Decentral Station” noted that it may not be an individual but a fund. “First thought [that] occurred to my mind is [that] this is definitely not an individual,” Decentral Station said. “Probably a Fund. As managing 9 digits needs manpower. So [I] tried to find out the origin. 0xb1 was funded initially with 1 ETH and 235,000 LINK from Celsius wallet.” Decentral Station gives an excellent analysis of 0xb1’s onchain movements as does Nick Chong on January 3, 2021. Chong stated:
By far, one of the most interesting ethereum addresses I’ve seen is @0x_b1. It’s quite an interesting social experiment as well – a $300m whale starting a Twitter account for fun. Check their bio.
Then months later on September 27, 0xb1 addressed some of the speculation behind the account. “Greetings Metaverse and Web3 builders,” 0xb1 said last month.
“The team behind @0x_b1 wanted to finally address some of the speculation about this account and its origins. While we cannot disclose too much, we would like to introduce ourselves. We previously managed the funds held in the 0xb1 address in 2020 till May 2021, but have since escaped that relationship & no longer have any association with those funds or the organization(s) from whence they came. The team behind this Twitter has always remained the same.” 0xb1 added:
Soon we will become MORE active again – not as a fund per se, but as a team of crypto natives and technologist degens committed to the ethos, the culture and future of the decentralized economy. In the coming weeks, we will announce a new defi primitive that the team has been heads-down building [for] the past 6 months. This platform, aptly named Fodl Finance @fodlfi, is the first true on-chain primitive for leveraged longs/short without funding rates. More on this coming soon.
NFT deals between talent giants and collections like the Cryptopunks, Autoglyphs, Meebits, and 0xb1’s recent signing, clearly shows that intellectual property tethered to the world’s most popular NFTs are becoming commonplace in the crypto industry. Last April, an astronaut NFT character called Aku created by Micah Johnson “optioned for TV and film projects by Anonymous Content and Permanent Content, a joint venture of Shawn Mendes and his manager, Andrew Gertler,” according to Variety’s Todd Spangler.
What do you think about Creative Artists Agency inking a deal with the pseudonymous NFT whale known as 0xb1? Let us know what you think about this subject in the comments section below.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Finance Redefined: MakerDAO goes green and BoA bullish on DeFi, Oct. 1–8

Finance Redefined: MakerDAO goes green and BoA bullish on DeFi, Oct. 1–8

Welcome to the latest edition of Cointelegraph’s decentralized finance, or DeFi, newsletter.Blogging platform Mirror expanded to the public market this week. Read on to discover the impact of this move for Ethereum wallet holders. What you’re about to read is a more succinct version of the newsletter. For a comprehensive summary of DeFi’s developments over the last week, subscribe below.Mirror expands blockchain blogging to the publicThis week, Mirror, a decentralized publishing protocol focused on fostering data ownership and free expression, expanded its platform to the public market for the first time. In the previous version, a weekly voting competition using the platform’s native token, WRITE, determined an exclusive list of 10 content creators who could contribute to the platform.With this announcement, anyone with an Ethereum wallet address can upload content to the site, as well as export blog posts from external sites such as Medium or Substack. These blogs can then be minted as “Entry Editions,” a nonfungible token feature allowing users to monetize their content.“Mirror has evolved from a tool for writers to a full-stack web3 creative suite for communities and DAOs.”Bank of America bullish on DeFiA Bank of America subsidiary firm, BofA Securities, released an official report this week concluding its bullish prospects of digital assets, including the DeFi sector, for which it noted there is “significant value in the intermediate-term for DeFi DApps.” The report stated:“Our view is that it’s unlikely DeFi will replace the traditional financial infrastructure soon, but its application technologies are likely to provide near-term efficiencies and increased transparency to existing firms especially in the areas of tokenization.”In July 2021, Bank of America launched a crypto research team led by crypto and digital asset strategist Alkesh Shah, devoted to analyzing and assessing the cryptocurrency landscape, this report being but one of many the group has published since inception.Assessing the markets from an analytical perspective, the report concluded that an excess of $17 billion was invested into the markets during the first half of 2021, a seismic growth from the $5.5 billion recorded during the same period last year.MakerDAO plans to support climate changeMakerDAO founder Rune Christensen published a candid letter on Tuesday proposing alterations to the protocol’s activity, which will support climate change initiatives.Changes could include the assurance that all collateral comprises “sustainable and climate-aligned assets that consider the long-term impacts of financial activity on the environment.”Furthermore, Christensen stated that the project’s collateral should support investments in sustainable real-world assets including “solar farms, wind turbines, batteries, recharging stations and other cost-efficient renewable energy solutions, as well as their supply chains, sustainable resource extraction and recycling.”In addition to this, Christensen expressed high expectations for Ethereum’s transition to a proof-of-stake consensus, suggesting a return to deposit capabilities for collateral services solely in Ethereum.Token performances Analytical data reveals that DeFi’s total value locked has increased 12.97% across the week to a figure of $136.04 billion.Data from Cointelegraph Markets Pro and TradingView shows that DeFi’s top 100 tokens by market capitalization performed positively across the last seven days.Fantom (FTM) secured the podium’s top spot with an impressive 71.95%. Yearn.finance (YFI) came in a respectable second with 24.94%, while Terra (LUNA) bagged third with 22.51%. Fourth and fifth place were claimed by Wrapped Bitcoin (wBTC) and Mdex (MDX) with 22.23% and 21.65%, respectively. Extra DeFi stories from the week:Thanks for reading our summary of this week’s most impactful DeFi developments. Join us again next Friday for more stories, insights and education in this dynamically advancing space.

Total Value Locked Across Multiple Defi Chains Nears $200 Billion — Ethereum’s TVL Dominance 69%

Total Value Locked Across Multiple Defi Chains Nears $200 Billion — Ethereum’s TVL Dominance 69%

While the crypto economy has seen a decent uptick in performance during the first week of October, a number of decentralized finance (defi) tokens have seen tremendous gains. Furthermore, the total value locked in defi has risen to $195 billion, jumping more than 14% over the last two weeks from $171 billion.
Defi Tokens Skyrocket, Total Value Locked in Dapps Grows to $195 Billion, Axie Infinity, Shiba Inu See Top Gains
Digital currency markets of all sorts are seeing some gains this week and defi coins and smart contract tokens have all seen significant rises during the last seven days. Weekly metrics show that crypto-assets like QTUM spiked 42%, terra (LUNA) jumped 37%, binance coin (BNB) gained 23%, and solana (SOL) rose by 22%.
On Monday, October 4, 2021, defillama.com metrics show the total value locked (TVL) in defi is $195.88 billion.
Other notable double-digit seven-day gainers include tokens like arweave (AR), DYDX, hedera (HBAR), and vechain (VET). The two mega gainers this week include axie infinity (AXS) up 119.8% and shiba inu (SHIB) up 92.3% during the last seven days. Meanwhile, the total value locked (TVL) in defi protocols today is roughly $195 billion, up more than 14% since September 18.
The defi protocol Curve has the largest dominance at the time of writing with 7.52% of the TVL. At the time of writing, Curve has around $14.71 billion TVL which is followed by the Aave protocol’s $14.65 billion. While five chains are compatible with Curve, only three blockchains can connect with Aave.

Ethereum Captures 69% of Defi TVL, While Alternative Chains Command Roughly 26%
Ethereum (ETH) still commands the most funds in terms of TVL for different blockchains with $135.05 billion today, or 69.2% of the entire defi total value locked. TVL metrics for the Binance Smart Chain (BSC) show around $17.03 billion. The BSC protocol’s TVL is only 12.59% of the aggregate total value locked on the ETH blockchain.
Top 12 defi blockchains in terms of total value locked on October 4, 2021, according to defillama.com stats.
BSC is followed by chains like Solana ($11.5B), Terra ($10.07B), Polygon ($4.6B), Avalanche ($4B), Fantom ($2.31B), and Waves ($1.85B), respectively. Between Waves TVL and the Binance Smart Chain TVL, the seven blockchains have 26.15% of the $195 billion.
Currently, Curve is the top decentralized exchange (dex) according to defillama.com’s dashboard and Curve is followed by Sushiswap, Pancakeswap, Uniswap, Balancer, and Saber, respectively.
Three of the aforementioned dex platforms (Saber, Pancakeswap, Uniswap) are all single chain dex applications, while Curve connects with five crypto networks. Sushiswap is compatible with 13 blockchains, and Balancer connects with three chains.
What do you think about the growing activities tied to the decentralized finance (defi) space? Let us know what you think about this subject in the comments section below.

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Aave, Balancer, Binance Smart Chain, blockchains, BSC, Chains, Curve, decentralized exchange, decentralized finance, DeFi, Defi Blockchains, Defi Total Value Locked, Defi TVL, defillama.com, DEX, Dex Platforms, ETH, Ethereum, HBAR, LUNA, Pancakeswap, Protocols, Qtum, Saber, Solana, Sushiswap, Terra, total value locked, TVL, uniswap

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Kevin O’Leary: ‘My Crypto Exposure Is Greater Than Gold for the First Time Ever’

Kevin O’Leary: ‘My Crypto Exposure Is Greater Than Gold for the First Time Ever’

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has revealed that he has more crypto exposure than gold for the first time. He hopes to increase his crypto allocation to 7% in the next few months, emphasizing: “I don’t see a situation where crypto’s ever going away.”
Kevin O’Leary Now Has More Crypto Than Gold
Kevin O’Leary has revealed that his portfolio now has greater exposure to cryptocurrency than gold for the first time. He tweeted Saturday:
For the first time ever, my crypto exposure is greater than gold.
His comment followed his interview with Stansberry Research’s Daniela Cambone, published Friday. Emphasizing, he is “a believer” and an investor in crypto, Mr. Wonderful shared: “At the end of the year, I’m hoping to be at 7% of our operating company’s portfolio in cryptocurrencies.” Moreover, he said, “I’m investing in a wide range of different crypto products as a strategy.”
The Shark Tank star noted:
I am happy to listen to anybody but, I’m sorry, I don’t agree if the answer is you have zero exposure to crypto.
The Idea of Governments Making Bitcoin Illegal Is ‘Far-Fetched’
O’Leary also shared his view on whether governments could ban cryptocurrencies. Citing the comments by Bridgewater Associates founder Ray Dalio stating that governments can kill bitcoin if it becomes too successful, he was asked, “can bitcoin be stopped … will governments win?”
Mr. Wonderful replied: “It’s a great debate. However, the productivity enhancements that are available through cryptocurrencies and the entire infrastructure of the decentralized finance (defi) are too far interesting for even governments. I don’t think the U.S. government wants to fall behind in the development of new payment systems and services online that are being brought forward by the development in all kinds of centralized and decentralized finance systems.” He elaborated:
So I don’t see a situation where crypto’s ever going away … The idea that governments all around the world are going to synchronize and make bitcoin illegal, I think, is far-fetched.
“Crypto is not just betting on the price of bitcoin anymore. There’re so many other ways to invest, particularly in blockchain opportunities, Solana, Ethereum … so many different level ones and then, of course, level two is the derivatives that are put on top of Ethereum and Solana and all the others … NFTs [non-fungible tokens] are [also] going to be growing very quickly,” he added.

Bitcoin vs. Gold
Regarding his gold investment, he said: “I have 5% in gold … I’m going to keep my gold. I see no reason to sell it.”
O’Leary was asked whether he agreed with Virgin Galactic Chairman Chamath Palihapitiya, who recently said bitcoin “has officially replaced gold.”
He replied: “No. Nothing’s going to replace gold. Gold has been tried and proven for 2,000 years. The Romans were hoarding it. I think what happens is gold will remain an asset class in portfolios, like mine and others, as a property.”
Regarding the overall crypto industry, O’Leary concluded:
I just see a lot of investment opportunities, and I’m going to be an investor in that space.
What do you think about Kevin O’Leary’s comments? Let us know in the comments section below.

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Chamath Palihapitiya, decentralized finance, DeFi, gold vs bitcoin, kevin o’leary, kevin o’leary bitcoin, kevin o’leary crypto, kevin o’leary cryptocurrency, kevin o’leary defi, kevin o’leary nfts, oleary gold, Shark Tank

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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