Tornado Cash is a decentralized cryptocurrency mixer or tumbler based on the Ethereum blockchain. It enables users to anonymously transfer cryptocurrencies by pooling and redistributing them, thereby obscuring the on-chain link between the sender and receiver. The “need” for such a tool arose due to transactions on most popular blockchains, …
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Decentralized finance (DeFi) protocol Gyroscope said Thursday it roll out a new yield-generating version of its stablecoin. “Savings GYD,” or sGYD, will aim to pay out 12%-15% annualized yield to token holders, variable to market conditions,” the team said. “The revenue comes from the tokens backing assets that are placed …
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Solana DEX Raydium's Meme Token Launch 'Didn't Exactly Go as Expected'
by Ryan Gladwinby Ryan GladwinDecentralized exchange (DEX) Raydium launched a meme coin called CTO using a new crypto launchpad, but things didn’t go according to plan. One of the largest DEXs on Solana, Raydium’s meme coin launch on a new token launchpad backfired after the launch “didn’t exactly go as expected,” with two identical …
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In the memecoin sector, making a quick profit is nothing new. However, one trader’s recent success has sparked both admiration and suspicion. This trader turned an $8.5K investment into a massive $802.5K profit in just one hour by buying a Solana-based memecoin called “CTO.” While some people say he had …
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Ahead of today’s FOMC statement, Ripple Labs-backed XRP has gradually gained bullish momentum. The large-cap altcoin, with a fully diluted valuation of about $65 billion and a daily average traded volume of around $3 billion, rallied over 8 percent in the past 24 hours to reach a 24-hour high of …
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Monad-based on-chain orderbook exchange Kuru raises $2 million in seed funding
by James Huntby James HuntMonad-based on-chain orderbook exchange Kuru has emerged from stealth, announcing the close of a $2 million seed funding round led by Electric Capital. Brevan Howard Digital, CMS Holdings, Pivot Global, Breed and Velocity Capital also participated in the round alongside notable angel investors, including Keone Hon, Jarry Xiao, and Eugene …
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Bernstein analysts highlight crypto’s role in making election markets more efficient
by James Huntby James HuntWhile crypto policy has become an important issue amid the U.S. presidential campaign in recent months, blockchain-based platforms like Polymarket are making election markets more efficient, according to analysts at research and brokerage firm Bernstein in a note to clients on Monday. Polymarket is the world’s largest and most popular blockchain-based …
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Crypto market intelligence provider IntoTheBlock published a report on Thursday comparing the best risk-adjusted methods to earn yield in the world of decentralized finance (DeFi). Despite the “nearly infinite number of composable strategies” the firm claims its most optimal to stick to “straightforward strategies,” that boil down to “only a …
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SUSHI, the token that powers SushiSwap, an automated market maker (AMM), witnessed a price decline between June 6 and 23. The altcoin’s value decreased by 42% during that period to form a descending channel. By June 23, selling pressure had weakened, paving the way for the bulls to re-enter. Buying …
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Cosmos DEX Osmosis’ DAO voting to adopt ‘fee-free’ bitcoin bridge via Nomic
by James Huntby James HuntOsmosis DAO, the community governing the Cosmos-based decentralized exchange and appchain Osmosis, is set to vote in favor of adopting a “fee-free” bitcoin bridge via the decentralized bridging protocol Nomic. Some 91.7% of votes are in currently favor of the proposal amid a 46.4% turnout, with voting due to end …