Fun

Whales prepare for next altcoin rally, DeFi is ‘waking up’ — Finance Redefined

News Feed - 2024-08-05 08:08:14

Zoltan Vardai12 hours agoWhales prepare for next altcoin rally, DeFi is ‘waking up’ — Finance RedefinedCrypto whales are positioning themselves for the next “altcoin season,” while DeFi loans are seeing a resurgence back to 2022 highs.4024 Total views2 Total sharesListen to article 0:00NewsletterOwn this piece of crypto historyCollect this article as NFTCOINTELEGRAPH IN YOUR SOCIAL FEEDFollow ourSubscribe onWelcome to Finance Redefined, your weekly dose of essential decentralized finance insights — a newsletter crafted to bring you the most significant developments from the past week.


This week brought renewed crypto interest from large holders, or whales, who are positioning themselves for the next potential altcoin rally through “strong buy walls” for future altcoin demand.


The decentralized finance (DeFi) space is also experiencing a revival, as active DeFi loans have risen to above $13.3 billion, which is a level not seen since 2022.“Whales are preparing for the next altcoin rally” — CryptoQuant founder


CryptoQuant founder Ki Young Ju believes that crypto whales are positioning themselves in anticipation of the next altcoin rally as traders hotly debate when altseason will begin.


Ju’s analysis centered around the one-year cumulative buy/sell quote volume difference for altcoins, a metric that measures the differential between buy and sell limit orders using a one-year timespan.


The analyst explained that whales prefer limit orders to avoid slippage, and the rising level of the metric suggests an increasing number of buy-limit orders among large crypto investors and institutions, representing “strong buy walls” of future demand for altcoins.


Continue readingDeFi is “waking up again” — Active loans return to 2022 levels


DeFi may be experiencing a revival, with key metrics such as active loans and total value locked (TVL) on the rise since their more recent lows in 2023.


Crypto market analytics platform Token Terminal proclaimed that “DeFi is waking up again” in a July 31 post on X.


It backed up this claim with charts and statistics, one of which was for active loans, which have returned to levels not seen since early 2022, at around $13.3 billion.


Continue readingMorpho secures $50 million funding led by Ribbit Capital for onchain lending


Decentralized finance protocol Morpho Labs has raised $50 million in funding following a recent revamp of its business.


The round was led by Ribbit Capital with participation from a16z Crypto, Coinbase Ventures, Variant, Pantera Capital, Kraken Ventures and other investors. Morpho Labs had previously raised $23.6 million across multiple funding rounds, including an $18 million Series B funding round a16z and Variant in 2022.


The funds will be used to support the recently launched Morpho Blue, a permissionless lending protocol that allows entities to create and manage their own markets without needing prior approval from any central authority. The solution also offers vaults that can be tailored with specific risk management parameters.


Continue readingTerra chain halts operations, ASTRO token falls over 60%


The Terra blockchain has announced that it will be temporarily halted at block height 11430400, and user transactions will no longer be processed during the downtime.


According to Terra’s official X post, the team will work with Terra (Phoenix-1) validators to apply an emergency patch after the suspension to “remediate a suspected exploit.”


An X post by Cyvers Alerts revealed that the exploit resulted in the theft of approximately 60 million Astroport (ASTRO) tokens, 3.5 million USD Coin (USDC) tokens, 500,000 Tether (USDT) tokens and 2.7 Bitcoin (BTC).


Continue readingOver 70% of hacked funds are lost to CeFi entities — Cyvers


Centralized finance (CeFi) entities are the largest target of cryptocurrency hackers in 2024.


Over 70% of the funds lost through cryptocurrency hacks are stolen from CeFi entities, according to Deddy Lavid, the co-founder and CEO of Web3 security firm Cyvers.


The CEO told Cointelegraph that CeFi entities account for about 70% of incidents both in terms of lost funds and amount of exploits:“[CeFi] is roughly 70% of the incident landscape. Having said that, attacks against smart contract-based projects are on the rise. The biggest security vulnerabilities today stem from both the code and personal negligence.”


Continue readingDeFi market overview


The majority of the 100 largest cryptocurrencies by market cap have ended the week in the red, according to data from Cointelegraph Markets Pro and TradingView.


Out of the top 100, Base-native meme token Brett (BRETT) saw the biggest decline of over 55% on the weekly chart, followed by Solana-based memecoin Dogwifhat (WIF), which fell over 54%.Total value locked in DeFi. Source: DefiLlama


Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.# Blockchain# Cryptocurrencies# Altcoin# Business# Decentralization# Ethereum# Adoption# Loans# Decentralized Exchange# DeFi# Trading# WhaleAdd reaction

News Feed

Nigerian Central Bank: We Are Not Worried About the Naira’s Valuation
Nigerian Central Bank: We Are Not Worried About the Naira"s Valuation The Central Bank of Nigeria (CBN)’s director of monetary policy, Hassan Mahmud, has suggested that the
US lawmakers demand SEC clarify position on Prometheum’s plans for Ether
Turner Wright4 hours agoUS lawmakers demand SEC clarify position on Prometheum’s plans for EtherAccording to a letter for SEC Chair Gary Gensler, leaving Ether in regulatory limbo between the SEC and CFTC could have &q
The Year Of Solana: 2024 Sees Global Crypto Love Surge Nearly 40%
Este artículo también está disponible en español. Solana (SOL) has emerged as a winner in the digital asset landscape as it captured the title of being the most popular b
Bitcoin ‘explosive move’ looms as Bollinger Bands reach tightest points
Ciaran Lyons3 hours agoBitcoin ‘explosive move’ looms as Bollinger Bands reach tightest pointsA key Bitcoin trading indicator has hit its “tightest point” in a year. The last time it happened, Bitcoin pumped 20%
Side-Chaining $3 Billion in Value: There’s More Than 141,000 Tokenized Bitcoins Issued on Ethereum
Side-Chaining $3 Billion in Value: There"s More Than 141,000 Tokenized Bitcoins Issued on Ethereum According to onchain statistics, there is a colossal amount of
Fugitive Founder of Turkish Crypto Exchange Thodex Arrested in Albania
Fugitive Founder of Turkish Crypto Exchange Thodex Arrested in Albania Albanian authorities have detained the founder and chief executive of the Turkish cryptocurrency exchange Tho
US May Consider Alexander Vinnik for Prisoner Exchange With Russia, Lawyer Says
US May Consider Alexander Vinnik for Prisoner Exchange With Russia, Lawyer Says Crypto exchange BTC-e’s alleged operator Alexander Vinnik may be a candidate for prisoner swap bet
Solana illustrates the dark side of monolithic blockchains
Omid Malekan2 hours agoSolana illustrates the dark side of monolithic blockchainsModular blockchains might lead to a poor user experience, but — unlike Solana — they remain functional even during periods of high dem
Brayden Lindrea3 hours ago‘This will be our last post’ — LBRY throws in towel against the SEC“Thank you to everyone who fought with us for online freedom,” the LBRY team said.2496 Total views8 Total sharesList
These Factors Will Drive XRP Price To $25-$75 In June – Analyst
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Asian Stocks Mixed as Bank of Japan Hints at New Stimulus Measures in October
Stocks in the Asia Pacific region diverged on Thursday, as investors assessed the Bank of Japan"s (BOJ) latest policy decision, which maintained the status quo on a long-running stimulus program designed to boost growth
A Crypto-Infused Professional Sports League: Billionaires Form a Blockchain Advisory Committee for the NBA
A Crypto-Infused Professional Sports League: Billionaires Form a Blockchain Advisory Committee for the NBA A number of National Basketball Association (NBA) team