Defi Platform Uniswap Outpaces Coinbase Pro in Global Trade Volume

The decentralized exchange (dex) Uniswap has seen a massive amount of trade volume during the last seven days. Following Uniswap’s rapid increase in global trade volumes, the platform’s founder Hayden Adams celebrated the dex outpacing the centralized exchange Coinbase’s volumes this past weekend. News.Bitcoin.com recently reported on the decentralized finance (defi) economy’s total value locked (TVL) assets nearing $8 billion in value. While a mad rush toward defi coins and applications has been taking place during the last few months, dex trade volumes have been soaring. Data from Dune Analytics…

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Ciphertace Allegedly Builds Monero-Tracing Tools, XMR Proponents Disagree

The blockchain surveillance firm Ciphertrace claims to have created the “world’s first” monero tracing tools for law enforcement. According to the company announcement, Ciphertrace developed forensic tools for the U.S. Department of Homeland Security (DHS) in order to track illicit monero transactions. Despite the firm’s claims, there is zero evidence provided that prove the company actually has such tools. Since the open-source cryptocurrency was first invoked in 2014, the Monero (XMR) project has been heralded for privacy-centric techniques. The digital asset network uses enforced privacy for all transactions by leveraging…

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Venezuela’s Bitcoin Use Soars Amid Hyperinflation: 3rd on Global Crypto Adoption Index

Venezuelans have become increasingly interested in cryptocurrency as their country faces dire economic crisis and hyperinflation, a new study by blockchain data analytics firm Chainalysis shows. The firm’s Global Crypto Adoption Index ranks Venezuela third as “The country has reached one of the highest rates of cryptocurrency usage in the world.” Cryptocurrency Adoption Soars in Venezuela Chainalysis published its study of Venezuela’s bitcoin usage Thursday, which is part of its upcoming 2020 Geography of Cryptocurrency Report. “Venezuela is suffering through one of the worst economic crises in modern history, with…

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Chainlink Doomsday Predictions: Zeus Capital Warns Investors Not To ‘Get Fooled’

Zeus Capital has doubled down on its doomsday predictions on Chainlink (Link). It is now warning investors: “don’t get fooled… exit your positions before its too late.” The asset management firm’s involved assessment follows a sharp decline in the price of Link in the last couple of weeks. By August 28, the asset had tanked more than 20% from its all-time high of nearly $20 reached twelve days earlier. Chainlink sprinted to its record high within a matter of weeks, as the community hyped the project. Since January, the crypto…

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Total Value Locked in Defi Jumped 85% in August, $8 Billion in Assets Held

A lot has changed during the last month, as the popular decentralized finance (defi) ecosystem has swelled considerably in value. Since the first week of August, the total value locked in defi jumped over 85% in 27 days from $4.2 billion to $7.88 billion on August 30. The total value locked (TVL) in the decentralized finance (defi) economy is nearing $8 billion in value, as crypto funds have poured into the surrounding infrastructure. Statistics from the website defipulse.com show that the current TVL on Sunday, August 30, 2020, is $7.8…

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Nigerian Crypto Startup Yellow Card Raises $1.5 Million For Expansion in Africa

Yellow Card has raised $1.5 million in a seed round. The Nigerian crypto startup said it will use the money to expand its operations in Africa while making it easier for people on the continent to buy and sell digital assets. Investors in the new round include Polychain, venture capital firm Andreessen Horowitz, and Celo, through the Celo Ecosystem Fund. In a statement, Yellow Card said it intends to “become the dominant exchange across the continent.” The company recently expanded into South Africa and Botswana and added 30,000 new vendors.…

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Bitcoin Will Break Out This Year, Says Devere CEO

The CEO of financial advisory firm Devere Group believes that 2020 will be a breakout year for bitcoin, fueled by the U.S. presidential election and the weak dollar. Amid political uncertainty and the Fed’s new inflation policy, investors will pile into safe-haven assets not tied to any specific country, such as bitcoin. 2020: Breakout Year for Bitcoin Devere Group CEO Nigel Green predicted last week that the U.S. presidential election and a weak dollar will drive the price of bitcoin for the rest of 2020. Following the Federal Reserve’s policy…

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Russia Blocks Cryptocurrency Websites Ahead of Regulation

Russian authorities have blocked a number of websites related to cryptocurrency ahead of the country’s crypto regulation taking effect. A popular exchange aggregator website has already been blocked twice and has now received a third notice. Russia Determined to Block Crypto Sites Russia’s Federal Service for Supervision of Communications, Information Technology and Mass Media (Roskomnadzor) has blocked popular Russian cryptocurrency exchange monitoring website Bestchange.ru for the third time. The platform informed its users via Facebook on Wednesday: Dear subscribers, our Bestchange.ru domain has again been blocked in the Russian Federation.…

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Ethereum Classic Suffers 51% Attack Again: Delisting Risk Amplified

Beleaguered Ethereum Classic (ETC) blockchain suffered yet another 51% attack on August 29. The latest attack caused the reorganization of over 7,000 blocks and this corresponds to approximately two days of mining. At the time of reporting, it was not clear if there had been any double-spending as was the case in the last attack. In that attack, it was reported that the Okex exchange suffered a loss of $5.6 million directly as a result. A statement revealing the attack adds that “all lost blocks will be removed from the…

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Polkadot Top 10 Redenomination Shot: Is the Token Now Bigger Than Chainlink?

The Polkadot token, which recently underwent a redenomination, has seen its value more than double in less than seven days. Now with a reported (but unverified) circulating supply of 897,657,920 tokens, the Dot token claims its place as the fifth-ranked token. At the time of writing, the token traded at $6.23, which translates to a market capitalisation of $5.63 billion. This market capitalisation is just about enough for Dot to displace the Link token from its current position. Coinmarketcap officially ranks the token at number 2172. The market capitalisation of…

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