Leading decentralized exchange, or DEX, platform Uniswap continues to lead the sector as it nears an average of $1 billion a day trading volume for the month of January. Only two-thirds of the way into the month and the platform has already surpassed the previous monthly trade volume record of $15.3 billion set in September during the DeFi boom. The DEX passed $17 billion as of this morning and is on track to surpass $25 billion by the end of January with a daily average of $855 million. Uniswap traders are spoilt for choice with 1,558 coins traded in more …

DeFi blue-chips, including Aave (AAVE) and SushiSwap (SUSHI), have been rallying hard in the past several days while Bitcoin is seeing range-bound consolidation at around $35,000 as of Jan. 17. Both AAVE and SUSHI prices have risen by more than three-fold since December, within merely a month. Investors attribute the bull run of DeFi tokens to the market “re-rating” the major DeFi projects. Why is DeFi projects like SUSHI and Aave getting “re-rerated?” The DeFi market has had an incredible run since 2020. The total value locked (TVL) across DeFi protocols has surpassed $22 billion, demonstrating the market’s fast growth. …

On Jan. 11, Bitcoin saw a steep correction as it dropped to around $30,500. It began to recover swiftly after the initial correction, rallying above $36,000 in the next 24 hours that followed. DeFi tokens, including Synthetix (SNX), Maker (MKR), and Compound (COMP), outperformed the majority of the market. The primary reasons behind their performance are strong fundamentals for each project and improving market sentiment. Highly anticipated roadmaps DeFi tokens have generally performed well in recent weeks. Maker, for instance, surged by nearly 100% before the Jan. 11 correction alongside other large-cap cryptocurrencies. The market sentiment around DeFi has already …

The price of SUSHI, the native token of SushiSwap decentralized exchange, has rallied 38% in the past 10 days. At its monthly peak, the governance token had achieved a 75% price increase but the recent 10% pullback in Bitcoin price has weighted on SUSHI's price action. One of the primary factors underpinning SUSHI's bullish price action was a strong relief rally in the decentralized finance sector following an extended correction that dominated the month of October. The most evident catalyst for SUSHI in the past two weeks was its merger with the DeFi giant Yearn.finance. On Dec. 1, Andre Cronje, …

The flurry of Yearn.finance (YFI) “mergers” continues as the project announces the tightest DeFi integration yet, this time with SushiSwap (SUSHI), the decentralized exchange that began its life as a Uniswap fork. Announced by Yearn founder Andre Cronje on Tuesday, the collaboration involves a variety of synergies between the two ecosystems and other projects launched by Cronje. Like with previous integrations, the two teams will merge development resources and integrate their liquidity pools to increase the total value locked. Yearn will help in creating an xSushi vault to farm SUSHI, Ether (ETH), YFI and Wrapped BTC (wBTC). Yearn will subsequently …

As exploits and hacks run rampant across the DeFi ecosystem, at least one project appears to have fended off the worst of an attack — the once-maligned “vampire” AMM (automated market maker) exchange Sushiswap. Observers noticed last night that Sushiswap — which got its start leeching liquidity from rival AMM Uniswap — was experiencing an exploit, and that anonymous head developer 0xMaki was taking steps to mitigate it: Possible @SushiSwap exploit found? @0xMaki sends exploiter a tx with a message to collect bug bounty. See below tx with message from 0xMakihttps://t.co/1MdXqw9chq Exploiters address:https://t.co/ehh7EassCo@DefiantNews pic.twitter.com/fRpdA1j7y1 — JuanSnow (@Juan_Snow1) November 29, 2020 …

SushiSwap is widely thought to have syphoned liquidity from Uniswap but new data from Flipside Crypto, a cryptocurrency on-chain analytics resource, suggests that the decentralized exchange’s launch mechanism actually benefited Uniswap by bringing new money into its liquidity pools. On Aug. 28, SushiSwap announced that it would launch its own decentralized exchange and many in the DeFi community referred to the project as a “vampire mining attack”. After forking from Uniswap, the most popular decentralized exchange in the space, SushiSwap created an incentive structure for users to switch to their protocol by issuing SUSHI tokens as rewards. In order to …

SushiSwap, one of the latest decentralized finance, or DeFi, projects to overtake the Blockchain space, has turned a major page in its short life span. As of September 9, the protocol has officially completed a migration over to its own decentralized exchange platform. "Done," SushiSwap head Sam Bankman-Fried said in a tweet at 3:10 p.m. EST, concluding a thread about the project's migration. Several hours prior to the transition's completion, Bankman-Fried laid out plans for the migration on Twitter, subsequently posting updates throughout the day, which included testing and specified individual token migrations. SushiSwap came into existence a little over …

The high-risk environment around the decentralized finance space and hype for one of its latest offerings, SushiSwap, raises an analogy with a Japanese delicacy called fugu, or pufferfish, which is said to be more deadly than cyanide. Highly trained chefs have been serving up fugu in Japan’s top restaurants for decades, balancing the lives of their customers on the edges of their Yanagiba knives. Any slight error could fatally poison the diner. As such, the cryptocurrency community now also has a proverbial fugu of the DeFi world. In a short space of time, the carbon copy of the popular Uniswap …

On the heels of skepticism of the project, SushiSwap project head, Chef Nomi, dumped SUSHI tokens over the weekend. In a series of tweets, the anonymous personality Chef Nomi claimed converting SUSHI tokens is meant to move the project away from doubts on its migration from Uniswap to SushiSwap. “I did the recent move because I care about the community. I'm taking IL for you. But all I received was blaming and FUDing. Here's what happened. The devshare part of me. I converted them to $ETH. I stop caring about price and I will focus on the technicality of the …

Blockchain security firm Quantstamp has published a security review of hyped DeFi protocol SushiSwap, identifying ten issues with the platform. The good news is the issues with the Uniswap fork aren’t likely to be fatal — unlike the critical bug that took out YFI clone YAM after 48 hours. The researchers identified two medium risk, three low risk, and five informational issues with the code. Among the concerns identified were errors failing to prevent the same liquidity provider token from being added more than once — risking disruptions to reward variables; a vulnerability potentially allowing funds to be stolen from …

SushiSwap, an upcoming DeFi protocol forked from Uniswap's decentralized exchange, has grabbed numerous headlines in recent days. One such story pointed out that the project's pseudonymous head, known only as Chef Nomi, maintains access to $27 million in Sushi tokens. Cointelegraph reached out to SushiSwap’s founder for further clarification in an attempt to ensure fair reporting, but the developer relayed their disinterest, simply responding: “I don’t have time for interviews. Sorry.” Often times projects in the crypto space have a store of funds set aside for project development and the like, complete with specific safeguards. One safeguard might see the …