Welcome to the latest edition of Cointelegraph’s decentralized finance (DeFi) newsletter. Ethereum Name Service announced a retroactive token airdrop this week to a fanfare of crypto enthusiasts. If you happen to own a .eth domain, read on to discover how you can claim your eligible tokens. What you’re about to read is the smaller version of this newsletter. For the full breakdown of DeFi’s developments over the last week, subscribe below. “The DAO space has matured,” says ENS' director of operations Domain protocol Ethereum Name Service distributed its native ENS governance token this week in an airdrop event to early …

Subsquid, a query node framework for Substrate-based blockchains, announced Thursday that it has closed a $3.8-million seed round led by Hypersphere Ventures. The company said that it expects to use this seed capital for developing the first blockchain indexing solution. The new data query technology, as per the announcement, will tap into a network of indexers and allow anyone to join and contribute data to Subsquid data users. While commenting on the successful seed closure, Subsquid’s technical founder, Dmitry Zhelezov, stated that: “We are looking forward to rolling out more functionalities in the coming weeks, allowing blockchain developers to harness …

Bitcoin (BTC) and Ether (ETH) have again risen to a new all-time high on Nov. 10, indicating that the trend remains firmly in favor of the bulls. In a recent report from Kraken exchange, analysts said that the current quarter’s price action has a correlation of 0.88 with the fourth quarter of 2017. Bitcoin had rallied 220% in 4Q 2017 and if history repeats itself, Bitcoin could reach $96,355, which could potentially be this cycle’s top. Long-term holders, who have held their Bitcoin for more than 12 months, are reluctant to spend their coins, according to Glassnode’s “The Week On-Chain” …

This week a number of contenders are set to participate in Polkadot's first parachain auctions and this process tends to place buy pressure on DOT, while also giving aspiring blockchain projects a chance to show why they offer the most competitive solutions to the different demands that exist in the crypto sector. The ongoing Polkadot parachain auctions follow the success of similar auctions on its sister network Kusama, where projects like Moonriver (MOVR) and Karura successfully secure a parachain slot for the next year. The Kusama parachain auctions began during a downturn in the wider crypto market and played a …

Decentralized finance protocol Acala announced Monday that they have raised 8.5 million DOT (worth $451.8 million USD at time of publication) from over 53,000 participants. The protocol is also set to win the first parachain auction on Polkadot. Unlike typical crowdfunding rounds, Acala's financing mechanism is a crowdloan, which means it will eventually need to pay back the "crypto debt" it has solicited from investors. On Nov. 5, Polkadot developers added the first parachain onto its network. Parachains are custom, project-specific blockchains that can be integrated into a main blockchain. The distinguishing feature of Polkadot is its Cross-Consensus Message Format. …

Bitcoin (BTC) is close to making a new all-time high and Ether (ETH) finally soared to hit a new high at $4,800. This pushed the total crypto market capitalization above $3 trillion for the first time ever on Nov. 8, according to data from CoinGecko. Data from Santiment shows that Bitcoin whales holding between 10,000 BTC to 100,000 BTC in their wallets have been aggressively buying in the past few days. They have added 92,000 Bitcoin in the past 25 days out of which roughly 43,000 have been purchased in the past five days. Another important group that has been …

Bitcoin’s (BTC) dominance has dropped from about 48% on Oct. 20 to 42.3% on Nov. 7 while the total crypto market capitalization has continued its northward journey. This indicates that the price action has shifted from Bitcoin to altcoins. CryptoQuant CEO Ki Young Ju said that Bitcoin whales are selling but this has not resulted in the breach of the strong support at $60,000. He also pointed out that Bitcoin reserves across exchanges have continued to decrease, indicating strong appetite from buyers. The majority of the market participants remain bullish on Bitcoin and anticipate a rally to $288,000 by the …

Bitcoin (BTC) denied bulls their big break on Nov. 4 as sideways action dragged the market ever closer to $60,000. BTC hodlers in "buy the dip" mode Data from Cointelegraph Markets Pro and TradingView showed BTC/USD back below $62,000 at 8am UTC. The pair saw a difficult 24 hours after hitting local highs above $64,000, finally bouncing at $60,000 in a brief but significant dip. The plebs continue to stack. — Dylan LeClair (@DylanLeClair_) November 4, 2021 While some suggested the price action was a gift to investors looking to add to their BTC stash before further upside, analysts were …

Whenever there is relevant growth in the number of derivatives contracts currently in play (open interest), it usually means that more traders are involved. In futures markets, longs and shorts are balanced at all times, but having a larger number of active contracts allows the participation of institutional investors that require a minimum market size. However, in Polkadot's (DOT) case, price crashes have often been anticipated by this indicator breaking the $1 billion mark. The April 17 crash happened after DOT reached its $48.30 all-time high, which led to a $1.2 billion futures open interest. Over the following week, the …

The concept of the metaverse introduces alternate realities, linking augmented and virtual worlds, similar to the well-known Steven Spielberg movie Ready Player One. Running parallel to the real world, this virtual world will provide users with more scenes for conversion and various economic applications open to the creativity and ability of the developer. With many possibilities, it is no wonder that so many technology giants continue to invest heavily in the possibilities the metaverse development has to offer. The potential impact is so large, many continue to believe that this could be the next large-scale platform after the internet. However, …

Bitcoin (BTC) fell to 24-hour lows before Wall Street's open on Nov. 3 as a previous bull run halted at $64,000. BTC price inches back towards $62,000 Data from Cointelegraph Markets Pro and TradingView confirmed the return of uninspiring sideways price action after Tuesday's volatility. As Cointelegraph reported, BTC/USD rose almost $4,000 before topping out, momentum then fading away to produce lows of $62,400 at the time of writing. As ever for a post-halving Q4, analysts continued to cast aside any bearish theories. "Market looks primed," popular Twitter account TechDev summarized. A separate post reexamined Fibonacci levels which have determined …

Polkadot (DOT) looks poised to rally toward $100 in the coming sessions as it triggers a classic bullish reversal setup. Dubbed Inverse Head and Shoulders (IH&S), the technical structure appears when an instrument forms three troughs in a row, with the middle one, called the Head, being the lowest, and the other two — known as the right and left shoulders — of almost equal heights. Meanwhile, the level at which all the troughs top out represents the "neckline." So it appears DOT has been forming an IH&S ever since its price correction from the $43-$49 price range (neckline), as …