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Showing posts with the label decentralized finance

Three Ethereum-Based Altcoins on the Rise Following Coinbase Announcement

Top US-based crypto exchange platform Coinbase is adding three new Ethereum (ETH)-based altcoins to its suite of products, causing the assets to skyrocket. In a new announcement on the social media platform X, Coinbase says it’s adding support for decentralized roll-up protocol AltLayer (ALT), decentralized finance network Pendle (PENDLE), and gamified learning platform Layer3 (L3) nearly a week after adding them to its listing roadmap. News of the additions sent all three altcoins flying, as AltLayer, a protocol that uses rollups to enhance scalability, went from a low of $0.037 on March 26th to a peak of $0.041 a day later. It has since retraced and is trading for $0.0407 at time of writing, a 8.3% gain on the day. Pendle, a project that tokenizes yields, also saw gains as it went from a low of $2.83 to a peak of $2.99 during the same time frame. It too has retraced and is trading for $2.95 at time of writing, a gain of 3.7% during the last 24 hours. L3, ...

Telegram Gaming Token Could Surge by Over 40% Based on a Trend Indicator, According to Crypto Analyst

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One indicator suggests that rallies are on the horizon for one Telegram-based gaming token, according to a popular crypto analyst. Ali Martinez tells his 72,600 followers on the social media platform X that Notcoin (NOT) flashed a bullish signal on its Supertrend Indicator, which provides buy and sell signals based on price action and volatility. NOT is a community token for the popular Telegram-based tap-to-earn mining game Notcoin. Says Martinez, “Increased buying pressure could potentially push NOT toward $0.012 to $0.014.” Source: Ali Martinez/X With NOT trading at $0.000976 at time of writing, a jump to $0.014 would represent a gain of more than 40%. The 86th-ranked crypto asset by market cap is already up over 13% in the past 24 hours. Martinez also notes the decentralized finance (DeFi) protocol Maker (MKR) appears to be forming an inverse head and shoulders pattern in the four-hour time frame. An inverse head and shoulders structure is typi...

Coinbase Teases Coinbase Wrapped Bitcoin (cbBTC) Expansion to Ethereum (ETH) Rival Arbitrum (ARB)

Top US-based crypto exchange Coinbase is teasing its new wrapped version of Bitcoin (BTC) to Ethereum (ETH) layer-2 scaling solution Arbitrum (ARB). In a new announcement on the social media platform X, Coinbase Assets tells its audience that Coinbase Wrapped Bitcoin (cbBTC) is “coming soon” to the smart contract platform Arbitrum. Earlier this month, Coinbase announced the launch of cbBTC, a token that would allow holders of the crypto king to access decentralized finance (DeFi) protocols over the Ethereum and Base blockchains. At the time, Coinbase said cbBTC would be compatible with several prominent DeFi platforms, including Aave (AAVE), Curve FInance (CRV), Compound Finance (COMP), Moonwell (WELL), and Maple Finance (MPL). In an accompanying blog post, Coinbase explained how cbBTC would streamline the DeFi experience of BTC holders. “cbBTC removes a key point of friction by allowing customers to use Bitcoin they already hold in new ways on...

Cardano adds over 70,000 smart contracts in 2024

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In 2024, the Cardano (ADA) ecosystem has seen remarkable growth in its smart contract capabilities, with Plutus V2 contracts taking center stage.  At the start of the year on January 1, there were 8,083 Plutus V2 scripts. Fast forward to September 18, and that number has skyrocketed to 80,437—an increase of 72,354 contracts.  Cardano smart contracts. Source: Cardano Blockchain Insights While the growth of Plutus V2 has been headline-grabbing, Plutus V1 scripts also saw steady development. Starting the year with 6,296 contracts, the number of V1 scripts reached 6,711 by mid-September, marking an additional 415 scripts. Although more modest, this increase reflects the enduring role of earlier iterations of Cardano’s smart contracts. Picks for you R. Kiyosaki warns of a ‘total collusion’ between Wall Street and Fed ...

Arbitrum airdrop-related selling subsides, but Dapp use sustains while smart money accumulates ARB

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The ARB airdrop followed the sell-the-news narrative, but Arbitrum's Dapp use and fundamentals remain strong and smart money continues to buy ARB tokens. The Arbitrum token airdrop led to a massive dump of ARB tokens and projects in the Arbitrum ecosystem in a “sell-the-news” type of event. However, the Ethereum Layer-2 activity remains strong, with the selling pressure of ARB tokens likely done with, making the rollup well-positioned for further growth. Arbitrum ecosystem tokens sees sell-the-news type event The Arbitrum (ARB) airdrop was announced on March 16, which caused a significant uptrend in native token prices of Arbitrum ecosystem projects like GMX), Magic , Gains Network (GNS) and Radiant Network (RDNT). The primary reason behind the pump was the ARB airdrop catalyzing the Arbitrum ecosystem’s growth. However, according to a report from An Ape’s Prologue, “this thesis was seemingly front-run,” as the price surge mainly occurred between the period of the airdrop announc...