Foresight or folly? Data show 70% of exchanges are unmoved by DeFi volume
Survey data show centralized exchanges are not worried about DeFi trading volumes, so why are they building their own DEXs? A recent survey by cryptocurrency data aggregator, CryptoCompare, shows that centralized exchange operators do not see the emergence of decentralized trading venues like Uniswap as a threat despite growing volume and activity in the DeFi space. In its September exchange review, CryptoCompare asked 26 of the leading venues in the space how likely it was for DEX liquidity to overtake that of centralized exchanges in a 2-year time span. 70% of those interviewed said that....
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Taking a bird’s-eye-view of the DeFi sector shows that even though asset prices are down, the ecosystem continues to rapidly expand. Decentralized finance (DeFi) has been one of the hardest-hit sectors since Bitcoin (BTC) price corrected from its all-time high in early May and this can be seen by the decline in the total value locked (TVL) on all protocols. According to data from DeFi Llama, the total value locked in decentralized finance platforms dropped from $154 billion and currently sits at $108.7 billion.Total value locked on all DeFi protocols. Source: Defi LlamaWhile the roughly....
Foresight Ventures launches 200m Foresight Secondary Fund I to invest in private round crypto assets that are looking to access liquidity during current volatile market conditions. The fund is launched with Bitget Exchange as the largest single LP. Current market conditions have not diminished our long-term outlook on the development of the crypto market, we want to cooperate with investors and projects to help improve liquidity and price discovery during these uncertain periods. This fund aims to purchase unvested tokens, SAFTs and other illiquid forms of investments that are looking for....
The unmoved supply of bitcoin continues to grow despite declining prices. This has various implications for the digital asset, with the major one being the volume of available supply in the open market. For most bull rallies in the past, this unmoved supply had remained low, declining at points where investors dumped their bags to avoid the crash. But this illiquid supply is once again on the rise. 60% Of Bitcoin In Unmoved Supply Bitcoin has maintained its position as the leading crypto investment. This is why owning the cryptocurrency is one of the most coveted positions in the space.....
Bitcoin price is defending the $15,000 support and on-chain data signal that the rally may continue beyond $16,000. After rejecting at $15,960 on Nov.6 Bitcoin (BTC) price has been defending the $15,000 support level with strength. Based on four on-chain data points, analysts believe the rally might continue beyond $16,000.Analysts have pinpointed lower Bitcoin exchange reserves, unmoved supply, a rise in “stronger hands,” and unrealized profits as factors for the rally to continue.The number of BTC held on exchanges dropsRecently, Delphi Digital, an independent cryptocurrency research and....
Uniswap processed $15.3 billion in monthly volume in September, outpacing Coinbase and signalling that DeFi is here to stay. Data from Dune Analytics shows that in the month of September Uniswap decentralized exchange processed $15.371 billion in volume. In the same period, reports indicate that Coinbase processed $13.6 billion.Monthly decentralized exchange volume. Source: Dune AnalyticsThe significant spike in Uniswap’s volume can be attributed to two major factors. First, the explosive growth of decentralized finance (DeFi) and yield farming of governance tokens caused decentralized....