Data shows that AAVE and Polygon (MATIC) traders are currently being paid up to 4.3% per week to long future contracts. In the crypto markets, traders are usually bullish, or at least the majority of retail investors are. This causes an interesting phenomenon as it incentives arbitrage desks and whales to sell futures contracts while simultaneously buying on regular spot exchanges. The above chart shows the incredible 240% gain accumulated in 2021 as crypto reached a $2.58 trillion total capitalization on May 11. The 53% correction that followed over the next week led to a $1.3 trillion bottom, decimating $32 …

In the midst of the hectic crypto market, the gas fees in the decentralized finance (DeFi) sector have skyrocketed, once again highlighting the value of layer-two scaling solutions. Cointelegraph Consulting teamed up with Covalent to discover the numbers behind Polygon, the network that is onboarding an increasing number of decentralized applications, from SushiSwap to bZx. Aave, DeFi’s lending giant, launched on Polygon this April and has already lured away about 66,000 unique users to the layer-two version. Nearly $12 billion has been deposited since the launch, and over $7 billion has been borrowed. Though what is important is that only …

Altcoins and DeFi sprang back to life on May 24 after a handful of decentralized finance tokens saw their prices increase by more than 60% as Bitcoin bulls pushed BTC price to the $38,000 level. Some analysts are describing the move as a 'dead cat bounce' but despite those concerns, the bounce in prices seen across the market is likely a welcome sight for cryptocurrency investors who experienced last week’s historical capitulation event that saw nearly $1.3 trillion in value pulled from the total cryptocurrency market cap. The biggest bounce-back performance among the top 200 coins was seen in the …

Decentralized finance (DeFi) was one of the driving forces behind this year's surge in the cryptocurrency market as projects like Yearn.finance (YFI), Aave (AAVE) and Uniswap (UNI) quickly climbed to ‘blue-chip unicorn’ status and older protocols like Maker (MKR) and Compound (COMP) saw their prices skyrocket to new record highs. But as the old saying goes, “markets take the escalator up and the elevator down,” and given the volatile nature of the crypto market, it seems that the elevator is in a free fall. Previously hot DeFi sector tokens have on average seen their token values fall by at least …

The mountains have slipped into the sea, the oceans boil, and the only rose-colored tint to be found is when you’re drowning in blood. Just another day in crypto! Jokes aside, I’m very much a child of 2008. For those who are uninitiated in this asset class’s notorious volatility, you have my sympathies — I’m intimately familiar with the abject human suffering and desperation that can come from seeing positive PnL evaporate. Don’t hesitate to seek help if you need it. But for all the train-wreck price action during weeks like this, I still believe the meat of DeFi is …

On May 18, Bitcoin (BTC) and the overall cryptocurrency market faced another round of selling as FUD — fear, uncertainty and doubt — impacted investor sentiment after Reuters and various social media outlets reported that China would ban financial institutions and payment companies from providing services related to cryptocurrency transactions. According to these reports, China also issued a warning to several Chinese trade associations about the dangers of cryptocurrency investing. Data from Cointelegraph Markets and TradingView shows that bulls attempted to push the price of Bitcoin back above the $45,000 resistance level on May 18 only to have the price …

Who knew what, and when did they know it? Investigating Watergate in 1973, Senator Howard Baker Jr. wanted the answer. Thanks to a couple of journalists, he eventually got it. And while the stakes may not be as high, the team at Cointelegraph Markets Pro is pretty curious about some interesting crypto data this week. The VORTECS™ Score includes sentiment analysis, tweet and trading volume, and price action as components of the algorithm — which are then weighted according to a proprietary formula based on how similar these are to historical conditions. If there is a similarity in these factors, …

Non-profit decentralized finance alliance, GoodFi, has announced the addition of 22 DeFi industry leaders to its newly formed Board of Advisors including representatives from many of the sector’s top projects. It’s also launched a website to hook new users up with appropriate DeFi protocols. Announced May 13, the advisory board features Chainlink account executive, Michael Zacharski, SushiSwap core developer, Omakase, and Aave digital marketing manager, Isa Kivlighan. In total, 19 leading teams building in DeFi from across the globe are represented, including Ava Labs, Acala Network, and Maple Finance. The Board of Advisors is expected to pool knowledge and experience …

Never a dull day indeed. Today was among the busiest in recent DeFi memory, featuring a hack worth eight figures, a token dump worth upwards of eleven from none other than Ethereum co-founder Vitalik Buterin himself, a significant update on institutional adoption from Aave, and a proposal on Uniswap’s governance forums to turn $UNI into a governance token — a proposal once again courtesy of Vitalik. Rapid reactions, roughly in chronological order (assuming my memory isn’t totally fried from today): Aave announces permissioned institutional trial pool As first reported by Cointelegraph earlier today, Aave currently has a private test pool …

The cryptocurrency market corrected sharply on May 12 after the hype surrounding dog-themed tokens was deflated when Ethereum co-founder Vitalik Buterin dumped vast amounts of the previously hot Shiba Inu (SHIB), Dogelon Mars (ELON) and Akita Inu (AKITA) on the market and donated the proceeds to charity. Data from Cointelegraph Markets and TradingView shows that as meme tokens sold off, Bitcoin (BTC) price continued its recent weakness and declined nearly 8% decline to $53,500 before recovering to $54,700. Ether (ETH) was less affected by the sell-off and actually managed to recover above $4,000 to reclaim its daily losses as users …

Although Aave was launched in the beginning of 2020, it has experienced significant growth in total deposits and daily deposits since the summer of 2020. Overall, Aave has totalled over $45 billion in deposits, with 2021 seeing the protocol average $231 million in deposits per day. More than 46,000 unique Ethereum users have become lenders on Aave, with the average all-time deposit reaching $173,000. Aave’s recent launch on Polygon and the introduction of its liquidity program was followed by a rapid increase in total value locked from $5.4 billion on April 25 to roughly $11.4 billion on May 12, according …

The banks are out of the bag: In a Tweet on Wednesday, Stani Kulechov, co-founder of decentralized finance money market protocol Aave, revealed that the Aave protocol has built a “private pool” for institutions to “practice” before getting involved with the DeFi ecosystem. Earlier on Wednesday, a Twitter user posted an angry tweet directed at Aave’s official Twitter account, noting that his address had been “blacklisted” due to Anti-Money Laundering requirements: Yo. WHAT THE FUCK @AaveAave $AAVE? pic.twitter.com/xKnaG7Idya — HMS RΞΞpΞr (@Fernjosh1) May 12, 2021 Kulechov himself responded to the tweet, saying first that there had been a mistake and …