DeFi market fall showcases how rising TVL doesn’t tell the full story
Could the DeFi market be a bubble as both market capitalization and indices crash? The decentralized finance market seems to be deflating after the DeFi summer craze when tokenized versions of Bitcoin and protocols, such as Uniswap and SushiSwap, outperformed the rest of the market. Earlier in October, the two main DeFi indices, Binance’s DeFi Composite Index and TokenSet’s DeFi Pulse Index Set lost more than 60% and 50% of their value, respectively. Meanwhile, total value locked in DeFi projects has been inching closer to its all-time high of $11.2 billion since late September.DeFi....
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Simply an idea or a story in itself can go a long way for people. Just look at this story about an invisible sculpture being sold for $18,000. The work, titled Io Sono or “I Am,”, by the Italian Salvatore Garau, doesn’t exist… except in the artist’s imagination. This is the case for most NFTs […]
To track the progress and value of a digital currency, most people go to a website like CoinMarketCap or CoinCap.io to see the different tokens ranked by their current market capitalization. A digital currency’s market cap is the total supply of coins multiplied by the token’s current market price. While nothing else really comes close to bitcoin, there is an interest is seeing which other digital currencies can be found in the top ten. While market cap is an interesting data point to some, it doesn’t really tell the whole story. There are a variety of other metrics that must also be taken....
The saga of P2SH showcases Bitcoin’s unique dev community, the difficulty in making such changes and the tone for protocol debates ahead. The post The Battle For P2SH: The Untold Story Of The First Bitcoin War appeared first on Bitcoin Magazine.
Cryptocurrencies like Bitcoin are the best form of money, Binance’s CEO says. Changpeng Zhao, the CEO of the world’s largest cryptocurrency exchange Binance, said that decentralized finance is here to stay despite many DeFi projects showing signs of being in a bubble.In a Nov. 17 interview with Russia’s news agency RBC, Zhao argued that “a lot of DeFi projects are already in a bubble, and I also believe that there are some signs of a bubble in the DeFi industry, but this does not mean that DeFi will eventually disappear entirely.”Zhao went on to say that the DeFi industry has a lot of....
Ethereum is the primary cryptocurrency benefiting from the DeFi trend. And while a rising tide lifts all boats, the demand for the top-ranked altcoin is second-to-none. And while Ethereum is dominating the crypto market right now, its DeFi that is dominating the headlines in the media, not the altcoin that makes it all possible. DeFi […]