Terra (LUNA) price lost 31% over the past four weeks, erasing all of the gains accrued year-to-date. Even though the token continues to outperform the broader cryptocurrency market by 20%, Terra is struggling to hold above the $85 support. Previously, a few bullish catalysts were Terra’s USD (UST) stablecoin flipping Binance USD (BUSD) to become the third-largest stablecoin on April 18, as well as the April 26 announcement that Fireblocks, a digital asset custody platform, had seen institutional clients invest over $250 million into the Terra DeFi ecosystem. This positive newsflow was not enough to instill confidence in Terra investors, …

The week was filled with several new project developments and key updates from leading decentralized applications (DApps) and decentralized finance (DeFi) protocols. Fireblocks has expanded its institutional access to Terra’s DeFi ecosystem and Solana partnered with the Notifi network to improve the abysmal participation rates in governance votes. We will also look into the Cointelegraph research into the Terra ecosystem’s future and see if it can sustain the current growth. Samson Mow, the former executive at Blockstream, questions the decentralized aspect of the DeFi ecosystem. Top DeFi tokens saw another week of bearish price action despite several new developments and …

Avalanche (AVAX) price is down more than 30% in April, but despite the negative price move, the smart contract platform remains a top contender for decentralized applications due to its scalability, low-cost transactions and its large footprint in the decentralized finance (DeFi) landscape. The network is compatible with the Ethereum Virtual Machine (EVM) and unique in that it does not face the same operational bottlenecks of high transaction fees and network congestion. Avalanche was able to amass over $9 billion in total value locked (TVL) by offering a proof-of-stake (PoS) layer-1 scaling solution. This indicator is extremely relevant because it …

Decentralized finance (DeFi) is changing how people interact with money in a way that makes the financial realm more accessible and secure. Under the traditional model, users can find themselves subject to rules implemented on short notice, which at times have erased millions or billions of dollars from their fortunes. For this reason, the next major technology revolution is being led by a move away from large tech players toward a community-led alternative. Supporting this revolution is ApeSwap, a platform positioned as being among the most connected DeFi hubs available today. Recently, ApeSwap has added a new NFT-based financial product …

A quantitative analytics report published by DappRadar has unveiled a number of revelatory behavioral market indicators for the global adoption of digital assets. The blockchain data portrays a positive sentiment for the Web3 and metaverse sectors, especially in the United States; a reactionary rise in crypto interest throughout Ukraine and Russia following the outbreak of the conflict and the impact of the well-documented surge i gas prices throughout Europe on inflationary metrics. Bar chart statistics reported a high correlation between the unfavorable economic dynamics witnessed in times of currency deflation and the interest in engaging with cryptocurrencies, with the data …

Axie Infinity was a pioneer of the play-to-earn movement and the project inspired new Web3 applications that aspire to apply the earning model to their respective ecosystems. The latest project to join the move-to-earn movement is STEPN, a Solana-based Web3 application where owners of the nonfungible token (NFT) sneakers earn as they walk. STEPN has programmed a few factors that determine just how much a person can make with its sneakers and the Green Satoshi Token (GST) is STEPN’s in-game token that currently trades for $7.30. Over the last 30 days, the token has surged over 77%, but is it …

This week, the crypto community headed to Nassau in the Bahamas for the inaugural Crypto Bahamas conference. Like most conferences, panels fill up the agenda and on Wednesday the topics at Crypto Bahamas ranged from nonfungible tokens (NFTs) to crypto in sports and to asset allocation in Web3. During one particular conversation, titled “Evolution of NFTs: Culture, Utility and Regulation,” panelists had some insightful musings on the NFT market. To put the Crypto Bahamas conference into context, Sam Bankman-Fried’s cryptocurrency exchange FTX moved its headquarters from Hong Kong to the Bahamas in September 2021. It recently inked a multi-year partnership …

Analyzing Ether's (ETH) current price chart paints a bearish picture, which is largely justified by the 11% drop over the past month, but other traditional finance assets faced more extreme price corrections in the same period. The Invesco China Technology ETF (CQQ) is down 31% and the Russell 2000 declined by 8%. Currently, traders fear that losing the descending channel support at $2,850 could lead to a stronger price downturn, but this largely depends on how derivatives traders are positioned along with the Ethereum network's on-chain metrics. According to Defi Llama, the Ethereum network's total value locked (TVL) flattened in …

How are blockchain development platforms addressing these concerns? New blockchain development offerings are making it simple for Web 3.0 applications to implement push notifications. A practical solution to these UX issues would need to be simple to implement and enable applications to monitor any address for incoming and outgoing token transactions (cryptocurrency, NFT or otherwise). Developers need to be able to set up push notifications in their own applications quickly and easily across multiple blockchains without learning code for each. Tatum has emerged as a leading blockchain development platform, offering an answer to address these user experience concerns. With their …

Market tracker DappRadar and the Blockchain Game Alliance, or BGA, published the Blockchain Games Report for Q1 2022 on Wednesday. After citing that $720 million was invested into blockchain games and infrastructures in February in a previous report, the latest number for total Q1 investment is $2.5 billion. Venture capitalists and other investors raised $4 billion in 2021. The biggest deals listed in the report include Animoca Brands raising $360 million, bringing its valuation to $5 billion and becoming a leading Web3 brand. Sequoia Capital led a $450 million investment in Polygon (MATIC), while Yuga Labs, the studio behind Bored …

MakerDAO, a decentralized autonomous organization (DAO) serving the popular DeFi lending protocol Maker, has announced an upcoming deployment schedule on the decentralized zero-knowledge (ZK) Ethereum rollup, StarkNet. Expected to become fully operational in the third quarter of this year as identified in the protocol's roadmap, the integration will seek to enhance the multichain capabilities of their dollar-pegged stablecoin DAI, and associated Maker Vaults function, by striving to reduce transactional cost and throughput speed on the network. The move is largely consistent with their overarching multichain strategy first witnessed via the launch of DAI token bridges on both Optimism and Arbitrum …

The advancement from Web2 to Web3 is believed to be a revolution already in motion. However, few understand just how powerful the implications can be. To illustrate, consider Web2, which marks the era following the dot-com crash. The internet users became accustomed to quicker internet speeds, the rise of streaming sites like YouTube, social media and the mobile internet. Although unintentional, the change in the way the internet was consumed also shifted the foundation of the internet to be increasingly centralized by major tech firms like Facebook and Google. For the end-user, this meant personal data was being collected by …