
Crypto traders faced significant losses as major cryptocurrencies, including Bitcoin and Ether, experienced a sharp decline, resulting in over $1 billion in liquidations.
Crypto investors and traders lost approximately $1.08 billion in total liquidations amid uncontrolled falling prices of prominent cryptocurrencies, including Bitcoin, Ether and Solana.
On Aug. 5, crypto market prices saw a significant decline owing to the weakening global economy, which was catalyzed further by the sudden crash of Japan’s stock market. In the process, nearly 300,000 crypto traders were liquidated from their leveraged positions or collateral trades, according to data from Coinglass.
Amid the ongoing bear market, the prices of the most popular cryptocurrencies depreciated, with Bitcoin (BTC) and Ether (ETH) falling by over 10% and 20%, respectively. As a result, crypto traders anticipating a prolonged bull run lost their positions in the bloodbath.
Crypto whales are positioning themselves for the next “altcoin season,” while DeFi loans are seeing a resurgence back to 2022 highs.
Welcome to Finance Redefined, your weekly dose of essential decentralized finance insights — a newsletter crafted to bring you the most significant developments from the past week.
This week brought renewed crypto interest from large holders, or whales, who are positioning themselves for the next potential altcoin rally through “strong buy walls” for future altcoin demand.
The decentralized finance (DeFi) space is also experiencing a revival, as active DeFi loans have risen to above $13.3 billion, which is a level not seen since 2022.
Binance’s venture capital arm is announcing an investment into a new cross-chain decentralized exchange (DEX) and bridging aggregator. In a new blog post, the world’s largest crypto exchange by volume says that it is investing an unspecified amount of money into interoperability DEX Rango. Rango is a cross-chain exchange that aggregates sources and connects traders […]
The post Binance Labs Announces Investment in New Cross-Chain DEX and Bridging Aggregator appeared first on The Daily Hodl.
Users imply that the unnamed VC firm’s actions had revealed its significant influence, which could be seen as a mistake, undermining the decentralized values.
The Uniswap Foundation — the organization overseeing the decentralized exchange Uniswap — has postponed May 31’s highly anticipated vote on UNI staking and delegation rewards.
The foundation announced on X that it postponed the vote due to a concern raised by a stakeholder. This prompted a more thorough review and examination of the proposal, leading to a delay in the decision-making process.
The vote would have moved the decentralized exchange closer to activating its “fee switch” and giving incentives to UNI tokenholders who staked and delegated their tokens.