Yield Guild Games (YGG), a collective of play-to-earn gamers, completed its initial DEX offering via SushiSwap’s Miso platform in under a minute earlier on Tuesday. The offering saw YGG raise roughly $12.5 million on Tuesday, with the token sale distributing 25 million tokens or 2.5% of the project’s 1-billion token supply via a dutch auction. The YGG tokens were sold for roughly $0.50 each. Disappointed investors criticized the sale after 32 wallets exhausted the allocation in 31 seconds, even though YGG’s Discord membership exceeds 47,000. A single address appears to have been able to nab 4.5 million tokens or 18% …

Decentralized finance (DeFi) was one of the main factors that pushed the crypto market higher throughout 2021 and to date, platforms like Uniswap (UNI), SushiSwap (SUSHI) and Aave (AAVE) form the bedrock of the sector. Similar to altcoins, DeFi tokens took a severe beating as Bitcoin price corrected from its $65,800 all-time high, and data from Cointelegraph Markets Pro and TradingView shows that since DeFi index perpetual futures contract hit a low of $5,340 on July 20. Since then, the value of the index has rallied by 45% to $7,682 and this has analysts watching to see if a reversal …

Decentralized finance (DeFi) remains one of the fastest-growing subsectors of the cryptocurrency ecosystem and newly launched platforms looking to grow their userbase and attract liquidity typically offer high-interest staking pools for the first few weeks after launching. One new project that has steadily gained traction in terms of user growth and total value locked (TVL) since farming went live is DinoSwap (DINO), a Polygon network-based cross-chain protocol that rivals the likes of PancakeSwap and other automated market makers. Data from CoinGecko shows DINO that saw its price trade as high as $4.28 upon launch and a surprise flash crash pushed …

The wider cryptocurrency market entered a period of consolidation on Tuesday following Bitcoin’s (BTC) brief spike above $40,000 the day before, which helped ignite a rally across the market and brought a renewed sense of optimism to the market. Data from Cointelegraph Markets Pro and TradingView shows that a mid-day attempt by bulls to lift the price of BTC back above the $40,000 level was rejected, resulting in a price pullback to $37,500. While Tuesday’s price pullback may suggest that Monday’s rally was simply a short squeeze, others point to the rising Grayscale Bitcoin Trust (GBTC) premium, which is now …

DeFi has grown exceedingly fast — and when this happens, it’s inevitable that teething problems will emerge. Here, we talk to Piers Ridyard, the CEO of Radix. He tells us what his company is doing to address some of the main pain points in this sector — and the challenges that consumers and developers currently face. 1. Hello! Can you tell us about Radix? Absolutely. Radix is the first public decentralized network built specifically to serve decentralized finance (DeFi). This was necessary because with DeFi on Ethereum, building sucks — there have been over $285 million in hacks in the …

Powers On... is a monthly opinion column from Marc Powers, who spent much of his 40-year legal career working with complex securities-related cases in the United States after a stint with the SEC. He is now an adjunct professor at Florida International University College of Law, where he teaches a course on “Blockchain, Crypto and Regulatory Considerations.” Well, well, well. It seems that some of those class-action law firms that ferret out possible securities claims in search of fees and recovery for investors, sometimes wrapped self-righteously in the flag of investor harm and rights, are properly receiving a cold shoulder …

A fintech platform is taking on the decentralized finance craze with a focus on security, stability and accountability that DeFi platforms, by their very nature, cannot match. “Crypto has a reputation problem and we hope to fix that,” crypto exchange and lender YouHodler CEO Ilya Volkov said. “We want to be as safe and reputable as your local TradFi bank but with an innovative twist that lets users harness the power of blockchain-based financial services.” Call it TradFi with a fintech twist, as YouHodler offers crypto-collateral loans on 30 cryptocurrencies, an exchange with a fiat off-ramp, high-interest savings, and a …

Developers of privacy-oriented cryptocurrency Monero (XMR) have identified a bug that could potentially impact users’ transaction privacy. On Monday, the official Monero Twitter account warned users of a “rather significant bug” that has been spotted in Monero’s decoy selection algorithm, a system designed to hide real output transactions among 10 decoys in a ring. First identified by software developer Justin Berman, the bug causes a sufficient probability that users’ output transactions can be identified as the true spend among decoys if users spend funds immediately following lock time in the first two blocks, or 20 minutes after receiving funds. The …

Bitcoin (BTC) traded steadily on Tuesday after a surge above $40,000 resulted in higher levels broadly holding. All eyes on Bitcoin higher lows Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hovering near $37,000, around 8.8% below the peak of Monday’s gains. Its first trip above $40,000 in six weeks, Bitcoin price action is now attempting to consolidate and form support at a higher low, Cointelegraph contributor Michaël van de Poppe said. “Bitcoin rejects at the range high, which isn't strange,” he explained in a Twitter update Tuesday. “The market has made a new higher high and is in …

Bull market optimism returned to the cryptocurrency market on Monday after Bitcoin’s (BTC) price rallied above the $40,000 level for the first time in over six weeks. Monday’s rally to $40,581 was a continuation of Sunday’s breakout that saw BTC’s price rocket to $48,110 on Binance after a short squeeze resulted in nearly $500 million in shorts being liquidated in just two minutes. Data from Cointelegraph Markets Pro and TradingView shows that BTC spiked to an intraday high at $40,581 on Monday before pulling back to $37,500 as bulls looked to flip this resistance zone back to support in preparation …

Bitcoin (BTC) soared from $29,482.61 on July 21 to $40,000 today, its highest level since June 16. This sharp rebound shows a possible change in sentiment. The bulls received a boost on Sunday, following the news from an anonymous source within Amazon proclaiming that the company is planning to accept Bitcoin payments by the end of 2021 and is exploring the launch of its own cryptocurrency by 2022. This news seems to have sent the bears scurrying to the exit, resulting in a short squeeze. Data from Bybt shows about $1.1 billion of liquidations in 24-hours on Monday, the most …

A renewed sense of optimism has returned to the cryptocurrency ecosystem on July 26 as Bitcoin’s (BTC) recovery above $38,900 has sparked a market-wide rally in the altcoins. Data from Cointelegraph Markets Pro and TradingView shows that the top movers over the past 24 hours are Amp (AMP), Venus (XVS) and Reserve Rights (RSR). Five out of the top seven gainers fall into the decentralized finance (DeFi) sector, a possible sign that DeFi may be heating up for another major run in 2021. AMP/USD The top performer over the past 24-hours has been Amp (AMP), a digital collateral token protocol …