The decentralized finance (DeFi) sector faced its first real challenge during last week’s market sell-off that saw more than $1 trillion wiped from the global cryptocurrency market cap as traders feverishly ran for the safety of stablecoins amid tumbling prices. Despite rapidly declining token prices, the nascent DeFi sector held its own as decentralized exchanges experienced a record $11.7 billion in trading volume on May 19. Uniswap (UNI) led with $5.7 billion in volume, followed by SushiSwap (SUSHI) which saw $2.8 billion in 24-hour trading volume. According to the recent DeFi Uncovered report from Glassnode, blue-chip DeFi tokens including, UNI, …

Cryptocurrency investors are still picking up the pieces from the May 19 market-wide implosion which saw Bitcoin (BTC) drop to an unexpected low at $30,000. Post-mortem analysis now shows that the correction catalyzed a mad dash among traders running for the exits as the cascading sell-off resulted in a record 10,525 BTC liquidated across all exchanges. Altcoins were quick to follow suit as they joined Bitcoin in its plunge and hardly a token was left unscathed by the downturn as a wider-sell-off rippled across the market, resulting in a $437 billion haircut to the total market capitalization to $1.672 trillion, …

Despite launching to the Ethereum mainnet just two weeks ago, Uniswap v3 has already overtaken SushiSwap to rank as the second-largest Ethereum-based decentralized exchange by trade volume. On May 20, Ryan Watkins of crypto data aggregator Messari noted that v3 had hosted 81% of the volume hosted by v2 over 24 hours earlier this week. The researcher shared data showing that as of May 16, v3 had processed 15% more weekly volume than major Ethereum-based DEX SushiSwap, beating out Sushi’s $5.6 billion with $6.5 billion. 0x ranked behind SushiSwap with $3 billion, followed by Curve with $1.9 billion, and Balancer …

In previous bull markets, one of the most consistent price movers for cryptocurrency projects was being listed on Coinbase, a phenomenon that became known as the 'Coinbase effect’. The recent announcement that Polygon (MATIC), SKALE (SKL) and SushiSwap (SUSHI) would be added to the exchange and begin trading on March 11 has proven that the Coinbase effect remains potent as the tokens witnessed record trading volume and double-digit price movements since the listing took place. Data from Cointelegraph Markets and TradingView shows that SKL has been the biggest beneficiary of the Coinbase effect, increasing more than 200% since the announcement …

The rising popularity of decentralized finance (DeFi) has brought fresh attention and optimism to the cryptocurrency sector with the total value locked on all protocols increasing from $1 billion to $59 billion in less than a year and the top 5 platforms accounting for $24.33 billion of the total value. Rising gas fees have been one of the most noticeable results of the increasing interaction with DeFi protocols and currently, the Ethereum (ETH) network hosts the majority of the top DeFi projects. Gas fees have been steadily rising since November 2020 and reached a peak on Feb. 23 when the …

Major DeFi protocols are moving to cultivate a multi-chain decentralized finance ecosystem, with SushiSwap deploying its contracts on five networks, and Balancer announcing ports onto Moonbeam and Polkadot. On March 3, SushiSwap CTO, Joseph Delong, announced the DEX had deployed contracts on xDai, Moonbeam Network, Binance Smart Chain, Polygon (previously called Matic), and Fantom. Delong noted Sushi is planning additional future deployments, including on Optimism. A Solana port is also under consideration. While the CTO stated users can expect “relatively complete” experiences on Fantom and Binance as both networks currently “have good support for token lists,” the three other networks …

The start of a new month has brought renewed fervor from the cryptocurrency market as Bitcoin's (BTC) price steadily climbed from a low of $43,537 on Feb. 28 to a high of $49,200 during Monday's early trading hours. As traders get excited about positive moves in the market and look to reenter positions, the increasing use of decentralized finance (DeFi) continues to drive fees on the Ethereum network higher, shining the spotlight on the top layer-two protocols that offer working solutions. Three protocols that have emerged as top layer-two contenders with working platforms are Polygon, xDai and Loopring. Each offers …

DeFi has steadily grown in prominence over the past year thanks in large part to the strong foundations established by decentralized exchanges (DEX) that enable easy access to the latest tokens and projects. While there have been previous iterations of DEX user interfaces, such as IDEX or Etherdelta, it wasn’t until Uniswap launched that trading in the DeFi network really took off and facilitated the launch of the finance tokens. Here are six of the top-performing tokens in the decentralized finance sector. UNI/USDT Uniswap has risen from the humble beginnings of a simple user interface that allowed for a token …

Ethereum-powered decentralized exchanges, or DEXes, continue to surge despite high transaction fees — with DEXes processing more than $120 billion in 2021 so far. According to Ethereum market analytics platform Dune Analytics, combined DEX volumes posted a new record of $63 billion in January. February's volume currently sits at $59 billion and is on track to hit $67 billion at the month’s end. DEXes have already processed more volume in the first two months of 2021 than during all previous years combined. The Ethereum-powered DEX sector is still dominated by Uniswap and Sushiswap, who account for 65% of February’s trade …

Cross-chain bridges and layer-two solutions have become an important topic of conversation in recent weeks as protocols compete to offer the best solution to skyrocketing transaction costs on the Ethereum network. While a lot of the focus in decentralized finance (DeFi) has been on the creation of a sprawling multichain ecosystem following the recent emergence of Binance Smart Chain and Avalanche, those who wish to stay on Ethereum have turned to layer-two solutions like Loopring as their preferred method of escape. A recent report from Delphi Digital has identified Loopring’s decentralized exchange (DEX) as one of the top layer-two contenders, …

Major decentralized exchange SushiSwap is the latest to consider action to mitigate Ethereum’s extreme transaction fees, and it involves a potential port to the Solana blockchain. A proposal, which was posted to the SushiSwap forum on Feb. 22 under the codename ‘Bonsai,’ suggests building out the platform on the Solana ecosystem. The integration is intended to mitigate Ethereum's skyrocketing transaction fees, which have spiked to new all-time highs over the past 24 hours. The proposal would involve integrating SushiSwap with Raydium's platform, with the Solana-based automated market maker having launched on Feb. 21. The proposal’s author, "Handroll," notes Raydium already …

Uniswap and SushiSwap have emerged as two of the top decentralized exchanges (DEXs) that are leading the current DeFi bull run higher. Despite a controversial start for SushiSwap, the last few months have seen it catching up to Uniswap in terms of activity on the platform, total value locked, and the price of its SUSHI governance token. A recent report from Delphi Digital took a closer look at the two projects and broke down the fundamental differences in the way that each has diverged in their development since SushiSwap’s vampire attack on Uniswap. SushiSwap originally emerged as a fork of …