Browsing: DeFi

The decentralized finance (DeFi) sector hit a significant milestone on March 9 as the total value locked (TVL) in DeFi protocols soared past $100 billion, indicating renewed enthusiasm in the crypto market. However, this achievement still lags behind the record high of $189 billion set in November 2021.  The TVL in DeFi protocols skyrocketed to $100.1 billion, with a trading volume of over $10 billion within the past 24 hours, as reported by DefiLlama data. Notably, leading the pack in terms of locked value were Liquid staking protocol Lido, EigenLayer, and the Aave protocol, with $38.7 billion, over $11 billion,…

Read More

Uniswap (UNI), the governance token of the decentralized exchange, has witnessed a remarkable surge, climbing by 46% to trade above $17. This surge brings UNI to levels last seen in January 2022. Accompanying UNI’s price rally is a staggering 120% leap in trading volume over the last 24 hours, totaling $1.18 billion. Moreover, UNI’s market capitalization has soared by 44% in the past week to $9.4 billion, positioning it as the 16th-largest cryptocurrency by market capitalization. This surge follows a proposal by the Uniswap Foundation to upgrade the protocol’s governance for fee redistribution, with a focus on increasing community involvement.…

Read More

The perpetrator behind the recent attack on KyberSwap, a decentralized exchange (DEX), has been observed transferring significant sums of digital assets across blockchain networks. Blockchain analytics firm PeckShield recently detected movements from the wallet associated with the KyberSwap attacker. According to the data, approximately 798.8 Ether (ETH), valued at nearly $2.5 million, was bridged from Arbitrum to the Ethereum network. In addition to the Ether, the hacker also moved nearly one million dollars’ worth of stablecoins. Specifically, $826,500 in Dai (DAI) stablecoin was transferred from the exploiter’s wallet to another address. This incident follows the notable KyberSwap hack of 2023,…

Read More