Cryptocurrency Analysis and News Portal
Layer 2 protocols run a separate blockchain on top of the mainnet, providing a secondary framework where transactions can take place. Once the transactions are processed, the data is sent back to the layer 1 blockchain, where it is stored in the blockchain ledger. That way layer 2s help alleviate
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Celsius (CEL) has repaid a substantial amount of its outstanding debt to Maker (MKR) protocol since the beginning of the month, signaling that the troubled crypto lending platform was trying to stave off a complete collapse amid credible rumors of insolvency. Since July 1, Celsius has repaid $142.8 million worth of
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MakerDAO has voted to cut off lending platform Aave’s ability to generate DAI for its lending pool without collateral as the risks of Celsius’s liquidity crisis loom large over the entire crypto ecosystem.The decentralized autonomous organization (DAO) made the decision as a means of mitigating the Maker protocol’s exposure to
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Following the demise of the Terra-based stablecoin UST, the fiat-pegged token DAI has become the largest decentralized stablecoin in existence today. Moreover, Makerdao has regained the decentralized finance (defi) protocol’s position as the top defi protocol in terms of total value locked (TVL). Makerdao’s DAI Regains the Top Decentralized Stablecoin Position This
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The MakerDAO founder wasn’t in the mood to say “I told you so,” following Terra’s stablecoin collapse, on CryptoX TV’s “First Mover.” Source
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Its been a rough couple of weeks for the cryptocurrency market. Bitcoin (BTC) price is nowhere near the price estimates of most analysts, multiple stablecoins lost their peg and the demise of one of the top decentralized finance (DeFi) platforms sparked an event that resulted in $900 billion vanishing from the
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Multi-token decentralized finance (DeFi) marketplace Deus Finance has become the latest victim of an exploit resulting in over $3 million losses in DAI and Ether (ETH).DeFi analytic firm PeckShield took to Twitter to explain the cause and manner in which the funds were exploited. The hackers behind the attack managed to
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Taiwan’s financial sector is known for its conservative outlook, and rich pools of foreign reserves — the fifth largest in the world coming in at $546 billion for a country of 24 million. But because of the industry’s conservative outlook and strict regulatory environment, it isn’t considered a regional financial
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