Features Crypto News by Thebittimes.Com

$HYPE – The Dark Horse of DeFi?! In a market saturated with buzzwords and bold claims, one project is steadily capturing the attention of seasoned investors and on-chain analysts alike: $HYPE. Dubbed “The Dark Horse” of the DeFi space, it is emerging as a potential game-changer in a sea of overpromised and underdelivered token s. What is $HYPE? At its core, $HYPE is more than just a clever ticker. It represents a new wave of community-driven momentum, utilizing a hybrid approach that combines decentralized finance, social liquidity dynamics, and gamified tokenomics. Unlike many fly-by-night tokens that fizzle out after the hype, $HYPE appears to be building its foundation with long-term sustainability in mind. Why the “Dark Horse”? The term “dark horse” refers to an unexpected contender that rises through the ranks when least expected. In the case of $HYPE, this moniker fits well: Low Initial Visibility, High Organic Growth : $HYPE hasn’t relied on massive VC bac...

XSY.fi, a decentralized finance (DeFi) capital management platform, has launched the beta version of its digital synthetic dollar Unity (UTY) on Avalanche (AVAX), as per the reports shared with Finbold on Thursday, May 15. The launch highlights the ever-growing institutional interest in DeFi solutions and comes just as XSY is closing a $5 million pre-series A funding round led by Protagonist and Borderless Capital and backed by investors including Paper Ventures, Chainview Capital, Blizzard the Avalanche Fund, and Sonic Boom Ventures. What is XSY’s Unity? A next-gen synthetic dollar, Unity is designed to promote liquidity and capital efficiency in blockchain ecosystems.  Namely, Unity lets AVAX holders maintain price exposure while earning yield by combining long spot holdings with short perpetual futures. This model has helped XSY draw over $20 million before the beta even launched. W. Sean Ford, Chief Executive Officer (CEO) of XSY, called Avalanche t...

The Environmental Impact of DeFi: Energy Consumption and Sustainability! Decentralized Finance (DeFi) has revolutionized the global financial landscape, providing open and permissionless access to financial services. However, as DeFi continues to grow, so do concerns about its environmental impact, particularly the energy consumption associated with blockchain technology. The Energy Cost of DeFi: Proof-of-Work Concerns Many DeFi applications rely on blockchain networks to operate securely and transparently. Some of these networks, particularly those using Proof-of-Work (PoW) consensus mechanisms, consume vast amounts of energy. Bitcoin, for example, has often been criticized for its high electricity consumption, comparable to that of entire nations. Similarly, Ethereum, before it transitioned to Proof-of-Stake (PoS), was another major energy consumer due to its PoW-based mining. The primary issue with PoW is its reliance on computational power to validate transactions and secure the ne...

Mantle (MNT) demonstrates impressive resilience amidst prevailing market downturns. Its robust ecosystem, fueled by decentralized finance (DeFi) and blockchain innovations, drives sustained growth. Can Mantle’s upward momentum propel it beyond the critical $1.38 resistance level? MNT Key Statistics Current Price : $1.23 Market Cap : $4.18 billion Trading Volume (24h) : $144 million Circulating Supply : 3.36 billion MNT Total Supply : 6.22 billion MNT CoinMarketCap Ranking : #32 Mantle (MNT) has experienced a strong upward trend, gaining 4% over the past week. Over the last month, its performance has been even more impressive, with a 30% increase. This sustained growth highlights Mantle’s resilience in the current market environment. MNT/USD Market Key Levels Resistance: $1.29, $1.38, $1.50 Support: $1.20, $1.12, $0.48 MNTUSD – Daily Chart The MNT/USD chart reflects a market displaying signs of consolidation, currently priced at $1.23. The Relative St...

Ethena Labs (ENA), a synthetic dollar protocol backed by BitMEX founder Arthur Hayes, is announcing a partnership with President-elect Donald Trump’s decentralized finance (DeFi) project. In a new announcement on the social media platform X, Ethena Labs says it has entered into a strategic partnership with World Liberty Financial (WLFI). According to Ethena Labs, the collaboration will bring over Ethena Staked USDe (sUSDe) – a yield-bearing token that inventors can stake – to the DeFi platform. “A governance proposal has been submitted to add sUSDe to WLFI’s upcoming Aave instance as a core collateral asset, Should it pass, this proposal will enable World Liberty Financial users to benefit from sUSDe rewards and also WLFI token rewards This integration will increase stablecoin liquidity and utilization rates on the protocol, as sUSDe’s integration has on Aave’s Core instance.” However, the proposed changes must go through Et...

Why does the Binance Smart Chain Dominate DeFi Activity? Binance Smart Chain (BSC) has emerged as a leading force in the decentralized finance (DeFi) ecosystem. With its low transaction fees, high throughput, and robust ecosystem, BSC has solidified its position as a dominant blockchain for DeFi activity. Here’s a closer look at the key factors driving its success. 1. Low Transaction Fees One of Binance Smart Chain’s most compelling advantages is its affordability. While Ethereum’s high gas fees often deter smaller investors, BSC offers significantly lower fees, making it accessible to a broader audience. This cost-effectiveness is particularly appealing to retail investors and developers looking to launch cost-efficient decentralized applications (DApps). 2. High Transaction Throughput BSC’s architecture, based on a Proof of Staked Authority (PoSA) consensus mechanism, allows for faster block times and higher throughput compared to Ethereum. This enables BSC to handle a large vol...

For investors and enthusiasts, staying updated on trending tokens can unlock opportunities for growth, community engagement, and long-term investments as blockchain technology continues to reshape industries; coins like Uniswap, Fjord Foundry, and Shrub The Hedgehog stand at the forefront of innovation and adoption. Top Trending Crypto Coins on DEXTools These coins present the diversity and dynamism of the cryptocurrency market. Uniswap leads as a DeFi trailblazer, pushing boundaries in decentralized trading. Fjord Foundry highlights the importance of scalable, sustainable infrastructure for blockchain growth. Shrub The Hedgehog introduces a refreshing focus on eco-consciousness while maintaining real-world utility. They continue to capture market attention as the top trending crypto coins on DexTools . 1. Uniswap (UNI) Uniswap is a decentralized exchange (DEX) built on the Ethereum blockchain that enables peer-to-peer trading of cryptocurrencies without the need of intermediaries....

Bitcoin’s value has risen over 400% between 2020 and 2024 Solana has increased in value by nearly 4,500% from $1.49 to around $166 in four years This trajectory of positivity will continue beyond the 2024 US elections, according to Matt Hougan Bitwise’s CIO has said while Washington can alter the trajectory of the crypto market by speeding things up or slowing them down, it can’t stop it. In his latest client memo, Matt Hougan wrote about crypto in an election year, claiming that crypto has already won, regardless of who becomes the next President of the United States. Comparing the state of the crypto market from November 2020 to November 2024, Hougan questioned whether things are better or worse since the last time Americans went to the polls. Despite several lawsuits from the US Securities and Exchange Commission (SEC) – notably against Binance, Coinbase, Cumberland DRW, Kraken, and Ripple – the crypto industry has made sign...

The Future of Money and DeFi: A Financial Revolution in the Making! As we stand at the crossroads of a rapidly evolving financial landscape, the concept of money itself is undergoing a monumental transformation. Decentralized Finance (DeFi) is at the heart of this shift, promising to reshape not only how we view money but also how we interact with financial systems. By leveraging blockchain technology, smart contracts, and decentralized protocols, DeFi offers an alternative to traditional banking that could democratize finance, foster innovation, and create new economic opportunities. In this article, we’ll explore the future of money through the lens of DeFi and examine the profound implications this movement holds for the global economy. The Evolution of Money Money, in its traditional form, has been a central pillar of economic systems for millennia. From bartering systems to gold, paper currencies, and digital transactions, the essence of money has always been tied to a centralized...

Governance Wars in DeFi Protocols! The rise of decentralized finance (DeFi) has brought significant changes to the way we think about financial systems, offering autonomy, transparency, and inclusivity. However, as the ecosystem evolves, one of the most contentious issues that has emerged is the battle for governance within these decentralized protocols. Governance wars have become a pivotal aspect of DeFi, as stakeholders vie for control over the future direction and decision-making power of these platforms. Understanding Governance in DeFi At the heart of every DeFi protocol lies a governance system. This system enables stakeholders, primarily those who hold governance tokens, to propose and vote on changes to the protocol. This can include decisions on upgrades, fee structures, treasury allocations, and other fundamental aspects of the platform’s operations. Governance tokens, such as COMP for Compound or AAVE for Aave, essentially give their holders a voice in the protocol’s futur...

A whale wallet has sold off nearly $100 million worth of Solana (SOL) this year, according to the crypto tracker Lookonchain. Lookonchain speculates that the unknown wallet could belong to an institution. The crypto tracker notes it has hawked an average of 19,306 SOL worth $2.76 million every week since the beginning of 2024. That totals 695,000 SOL worth $99.5 million for the year. The whale still has 1.88 million SOL worth $237.68 million staked, according to the Solana blockchain tracker Solscan.io. SOL is trading at $126.28 at time of writing. The fifth-ranked crypto asset by market cap is down 7% in the past 24 hours. Lookonchain also notes that a separate unknown whale wallet recently withdrew 1,100 Bitcoin (BTC) worth $64.26 million from a hot wallet associated with the top crypto exchange Binance. BTC is trading at $56,729 at time of writing, down nearly 5% on the day. The blockchain monitor also spotted an early investor in the decentralized finance...

Polyhedra, a zero-knowledge proof protocol platform, has integrated Flare with its zkBridge Decentralized Verifier Network (DVN), as per the most recent updates disclosed to Finbold on August 27. The integration is set to bolster the development of secure cross-chain applications on the Flare network.  Flare Co-founder Hugo Philion expressed enthusiasm about the integration, noting that zkBridge brings an added layer of security to LayerZero’s protocol: Picks for you Finance experts predict XRP price for end of 2024 37 mins ago Imminent breakout? XRP whales go on $30 million buying spree in 24 hours 2 hours ago Qubic unveils Project X,...

Zeus Network, a permissionless communication layer on Solana (SOL), has launched the final testnet for its first decentralized application APOLLO, according to the latest info shared with Finbold on August 12. Built on the Zeus Program Library (ZPL), the testnet has seen 15,000 wallets connected within 72 hours, underscoring the potential of integrating Bitcoin (BTC) liquidity with the Solana ecosystem. The APOLLO testnet The APOLLO testnet is designed to optimize the role Bitcoin plays in decentralized finance (DeFi) on Solana, enabling users to convert Bitcoin to Solana’s native zBTC token.  Picks for you Crypto expert Michaël van de Poppe updates altcoin portfolio 1 hour ago Fund manager bets $2.7 billion on imminent recession ...

Over the past few weeks, Solana has been dominated by a series of quick celebrity-endorsed cash grabs, in a memecoin frenzy that refuses to run out of steam. Kicked off by WIF, BONK, and a variety of political-themed tokens — which are generally down from their peaks in early spring — Solana ’s meme coin launchpad pump.fun is still seeing plenty of action, raking in more fees than the entire Ethereum network earlier this week. BREAKING: @pumpdotfun FLIPS @ethereum IN 24H REVENUE pic.twitter.com/IoVHqvl55m — DEGEN NEWS (@DegenerateNews) July 2, 2024 Read more: $10M accidentally burned as Solana memecoin craze continues More recently, the focus has been on so-called ‘celebcoins,’ which may or may not be endorsed by their namesake. Caitlyn Jenner’s JENNER token began the trend before Iggy Azalea’s MOTHER reached a market cap of over $100 million . Other tokens were promoted via apparent hacks of celebrity social media accounts. All this activity has eclipsed Sola...

Pyth Network’s token debuts with a $468 million market cap and an innovative airdrop to 90,000 wallets. Pricing oracle service Pyth Network today launched its cryptocurrency token PYTH, immediately gaining a substantial market presence. As of its first trading day, the token’s market capitalization was approximately $468 million, with its value initially set at around $0.53 per token, fluctuating to $0.34. Pyth Network issued an airdrop to about 90,000 wallet holders. These recipients are granted a 90-day window to claim their PYTH token s, playing a pivotal role in the network’s on-chain governance processes. Today marks the launch of the Pyth Network’s permissionless mainnet, ushering in a new era of token-led governance for the protocol. Ecosystem participants can actively engage in Pyth Governance by locking their $PYTH Tokens in the Pyth staking program to cast votes on community… pic.twitter.com/KNmwWptD3K — Pyth Network (@PythNetwork) November 20, ...

DeFi trading platforms are overcoming common barriers, such as limited functionality and centralization, to offer unparalleled functionality without compromising on security or control. goodcryptoX, a new DeFi trading platform , leverages Ethereum’s account abstraction feature to provide users with advanced trading functionality and a seamless user experience. Decentralized finance (DeFi) offers unique advantages over centralized platforms, empowering individuals and offering more control over their finances. In DeFi, crypto traders can leverage trustless networks to bypass intermediaries and build diversified portfolios without sharing private keys. Nevertheless, DeFi and decentralized exchanges (DEXs) have to address several key challenges to win market share from traditional crypto exchanges. Here are some of the most ardent problems: Limited functionality: DEXs focus on giving users complete control over their funds, but they don’t offer the same variety of features as cent...