Aave (AAVE) price has increased by 76% since the beginning of February and today the DeFi-token hit a new all-time high of $520. Currently Aave is the second-ranked DeFi platform by total value locked (TVL) and the protocol continues to gain users and outperform its competitors. Data from Cointelegraph Markets and TradingView shows that AAVE rose from $284 on Feb. 1 to its current value of $510 as it’s 24-hour trading volume reached $2.4 billion. The latest rally kicked off on Jan. 28 when the platform announced the release of the Aave v2 migration tool which allows users to easily …

On Jan. 12 Bitcoin (BTC) price rebounded slightly as the price attempted to re-enter the $37,000 range but at the time of writing increased selling is pushing the price back toward the $32,000 mark. While the bearish price action may have shaken out newer investors who are unfamiliar with Bitcoin’s whipsaw volatility, the recent 28% drop doesnt even maike it on the list of the top-5 worst BTC pullbacks in history. In fact, today’s 20% rebound marked one of Bitcoin’s largest one-day rebounds ever. Despite Bitcoin’s swift 20% bounce, many analysts have voiced caution, warning that the top cryptocurrency is …

On Jan. 11, Bitcoin saw a steep correction as it dropped to around $30,500. It began to recover swiftly after the initial correction, rallying above $36,000 in the next 24 hours that followed. DeFi tokens, including Synthetix (SNX), Maker (MKR), and Compound (COMP), outperformed the majority of the market. The primary reasons behind their performance are strong fundamentals for each project and improving market sentiment. Highly anticipated roadmaps DeFi tokens have generally performed well in recent weeks. Maker, for instance, surged by nearly 100% before the Jan. 11 correction alongside other large-cap cryptocurrencies. The market sentiment around DeFi has already …

The bullish momentum seen throughout the week has spilled over into the weekend as the majority of the top-100 tokens listed on CoinMarketCap are posting double-digit gains. Bitcoin (BTC) entering a brief consolidation period and the possibility of a third round of stimulus checks for American citizens are two possible reasons for today’s bullish price action. While there are concerns about the recent large Bitcoin inflows into South Korean exchanges by BTC whales, fundamentals factors like miner sentiment and decreasing supply are keeping investors feeling relatively optimistic about Bitcoin’s future price prospects. A growing number of experts have voiced their …

Throughout 2020 a handful of new stablecoins launched and many analysts have suggested that stablecoin growth is the backbone of the crypto sector and partially responsible for the current Bitcoin rally. For many traders, stablecoins provide a safe place to shelter during volatile periods in Bitcoin and altcoins but there are other ways to interact with these fiat-pegged assets. Terra Protocol aims to create a programmable algorithmic stablecoin available on every blockchain. Similar to its better-known competitor, Maker (MKR), Terra Protocol has a native stabilizing crypto-asset called LUNA. The project was created by a partnership of 15 large Asia-based e-commerce …

The MakerDAO community is urgently implementing measures to prevent voting manipulation through flash loans. This was precipitated by what is likely the first instance of the feature being used to influence a decentralized finance governance vote on Monday. According to a post published by community member "LongForWisdom," someone used a flash loan to force a governance proposal through. BProtocol, a service designed to create a more symbiotic relationship between Maker debt liquidators and users, came forward as the responsible party. The proposal would have whitelisted the project to access Maker’s price oracle, making it possible to run decentralized keepers. BProtocol …

Over the last month the crypto market has seen a significant amount of volatility as a 6-month altcoin bull market abruptly came to an end with the most recent Bitcoin (BTC) price rejection at $12,000. At the same time, the DeFi sector saw an amazing run as the total value locked in DeFi platforms surged above $10 billion but at the time of writing the sector is in the midst of a mild correction. DeFi index daily, weekly, monthly gains. Source: Messari.io As reported by Cointelegrah, when Bitcoin (BTC) and Ether (ETH) started to pull back in late September, DeFi …

A MakerDAO (MKR) governance proposal enacted on Tuesday set interest rates on most assets, with the notable exclusion of Ether (ETH), back above 0%. According to Daistats, interest rates for the USDC-A, WBTC and other minor vaults are now back to being at 2%, meaning that the protocol is once again collecting revenue for those who borrow DAI against these assets. Lowering interest rates is generally seen as a way of stimulating DAI creation, which is supposed to lower its price to its intended $1 peg. While Cointelegraph recently reported that the price finally stabilized after a long period of …

A new vault launched on Yearn.finance is being credited for finally restoring the peg of Dai (DAI), the algorithmic stablecoin of the MakerDAO (MKR) project. As Cointelegraph previously reported, Maker had struggled with maintaining a strict $1 peg for DAI since the start of the yield farming wars in June. Though it’s had ups and downs, the price of DAI consistently hovered around $1.02 in the past 30 days. As of press time, the price came down to $1. The community is crediting the yearn.finance project, which launched a new yield farming strategy that relies on minting DAI to farm …

A new Compound governance proposal from Gauntlet founder Tarun Chitra would see all future COMP token distributions locked in a vesting schedule. The proposal was submitted on Wednesday and outlines several ways that the vesting could be implemented. One would involve discrete vesting where the tokens could be claimed at periodic intervals, while another proposes “continuous vesting” that frees tokens gradually as they reach maturity. Either solution would be in stark contrast to how the reward system is set up right now, where the vesting time is effectively zero. While COMP is not immediately distributed into user wallets, it can …

Ross Ulbricht, the founder of SilkRoad, has issued a short follow-up to his essay on MakerDAO (MKR) and how it could be redesigned and improved. The follow-up amounts to a small correction to an assumption he made earlier about the Maker system. In his essay, he was puzzled that the DAI Savings Rate, a reward for “staking” the stablecoin, was higher than what DAI minters paid as interest rate. Indeed this is not the case as the savings rate is obtained from stability fee payments. Raising it above that level would eventually bankrupt the protocol. “I had received values for …

Data from blockchain intelligence firm Flipside Crypto show that 50% of DAI, Maker’s decentralized stablecoin, is now on Compound (COMP). While the figure seems a positive factor for COMP’s growth, it shows a concerning trend for DAI. Since June, the amount of DAI on the Compound Decentralized Finance (DeFi) protocol rapidly surged. As of August, nearly $800 million worth of DAI is on Compound. Total value locked at Compound Finance (USD). Source: Flipside Crypto Why it could be a troubling trend for DAI DAI is the most dominant decentralized stablecoin in the cryptocurrency market. Unlike other widely-utilized stablecoins, like Tether …