Cross-chain decentralized exchange THORSwap has concluded a $3.75 million private token sale backed by leading venture funds within the blockchain industry, offering further evidence that investors are keen to back market-ready DeFi platforms. The funding will be used by THORSwap to continue building its development and operational resources, including the launch of new products on top of THORChain, the decentralized liquidity network powering the exchange. The private token sale was led by IDEO CoLab Ventures with participation from True Ventures, Sanctor Capital, Nine Realms, Proof Group, 0xVentures, Qi Capital, THORChain and others. THORSwap currently supports Bitcoin (BTC), Bitcoin Cash (BCH), …

AXS, the native token of Axie Infinity, a play-to-earn nonfungible token (NFT) game built atop the Ethereum blockchain, rallied more than 100% on a quarter-to-date (QTD) timeframe to refresh a new record high above $155. Nonetheless, the cryptocurrency now risks paring a portion of its recent gains as a key technical indicator, dubbed the relative strength index (RSI), flashes its overbought conditions. In doing so, it might correct below $90 — almost a 40% drop. The bearish outlook surfaces after studying the relationship between AXS’s price and its RSI readings. In detail, when the RSI rallies above 70, it mostly …

Soldex is a third-generation crypto exchange and one of the first decentralized exchanges (DEXs), to be built on Solana. What sets it apart from centralized exchanges, and even other DEXs, is its unique machine learning algorithms for automated trading that can be developed and deployed by the users themselves. Moreover, the platform considers the fact that it is built on Solana to be a huge advantage. The Solana blockchain is known to be faster and quicker than most blockchains today, delivering transaction speeds two thousand times greater than Ethereum (ETH) at less than a fraction of the cost. In fact, …

Last week, China’s heavy-handed crackdown on crypto trading briefly sent shockwaves across the market as Bitcoin (BTC) and altcoin prices saw a sharp drop following the announcement, but as is the case with all things crypto-related, the market bounced back as resilient traders found other ways to participate in the market. Part of China’s goal in limiting citizens' ability to trade cryptocurrency seems focused on discouraging the use of cryptocurrencies and the growing decentralized finance (DeFi) ecosystem, but these maneuvers appear to be having the opposite effect, as the token price and protocol activity for projects like Uniswap and dYdX …

Decentralized exchange dYdX's native token DYDX surged by nearly 80% this week as traders assessed its potential against China's recent ban on crypto transactions. The DYDX price hit a new high of $26.50 on the FTX exchange after trading at around $13 a week ago. The China ban was an apparent boost for the dYdX decentralized exchange (DEX) that offers perpetuals, margin and spot trading, as well as lending and borrowing services to its users. Holding DYDX gives owners the right to propose and vote on changes to dYdX's layer 2 protocol. DYDX stakers receive rewards by depositing to the …

After facing bankruptcy, recovering from a low credit score, or attempting to start a new business, many have found out just how difficult it can be to take out a loan from the bank. As a result, lending is said to have become increasingly inaccessible. Combatting this concern are decentralized finance (DeFi) loans, which have continued to gain in popularity. A DeFi loan eliminates the need for banks and complex asset valuations. Instead, a decentralized exchange (DEX) may take cryptocurrencies as collateral at their market exchange rate. The only thing holding DeFi loans back from more widespread adoption is the …

As dYdX’s governance token (DYDX) gains amid speculation that Chinese traders could be migrating to the derivatives decentralized exchange (DEX), savvy decentralized finance farmers are claiming to be sitting on six-figure stashes after gaming the protocol’s recent airdrop. DYDX has gained 85% in two days as reports claim that China’s crypto traders are converging on the decentralized margin trading protocol as Beijing moves to further crack down on digital assets. The exchange’s governance token was airdropped to users on Sept. 8. As the number of tokens received by users was determined by historic trading activity on the exchange, news of …

Uniswap (UNI) prices staged a solid rebound after crashing last week in the wake of China’s decision to intensify its anti-Bitcoin (BTC) and cryptocurrency rhetoric. UNI price gained 14.90% on Monday to reach an intraday high of $26.26. UNI/USD’s climb came a day after it dropped to a monthly low of $17.63. As a result, it churned out more than 48% profits for the dip buyers within the last 24 hours. Adoption FOMO UNI serves as a governance token inside Uniswap’s decentralized exchange (DEX) ecosystem. As a result, its holders get to vote on matters that help steer the future …

Decentralized derivatives exchange dYdX has seen a surge in trade activity as concerns surrounding a renewed Chinese crypto crackdown have circulated this year, with the decentralized exchange (DEX) now processing more volume than Coinbase’s spot markets for the first time. According to CoinGecko, dYdX has facilitated more than $4.3 billion worth of trades in the past 24-hours, beating out Coinbase’s $3.7 billion in volume by nearly 15%. DYdX founder and former Coinbase employee Antonio Juliano celebrated the milestone in a Monday tweet. 5 years ago I left @coinbase and eventually founded dYdX Today, for the first time, @dydxprotocol is doing …

The growth of the decentralized finance (DeFi) sector has been a recurrent headline throughout 2021 and to date, hundreds of billions of dollars in crypto assets are locked on protocols across numerous blockchain networks and earning a yield for their holders. What started off as a simple Ethereum-based swap interface that allowed ERC-20 tokens to be exchanged in a decentralized manner, called Uniswap, has exploded into a vast ecosystem full of decentralized exchanges, yield farms, lending protocols and staking platforms. As development continues and older protocols become more established, newer projects have emerged to incorporate more pieces from the traditional …

The emergence of decentralized finance (DeFi) has reshaped the landscape of the cryptocurrency ecosystem, which was once dominated by centralized exchanges like Coinbase and Binance and helped to make it more accessible for users and projects seeking to gain access to the markets. As DeFi emerged as a cheaper, more accessible option for investors and projects, centralized exchanges saw their reserves of BTC and Ether dip and they began to compete for users as growing numbers of investors opted to give DeFi a try. Instead of taking a 'centralized only' approach, LCX exchange has adapted its model to offer centralized …

Non-custodial cryptocurrency exchange ShapeShift has completed its second airdrop of FOX tokens — dubbed “fairdrop” — as part of a broad decentralization pledge that was first announced in July. The airdrop of 6,613,000 FOX tokens was distributed to over 33,000 DAO community members, ShapeShift announced Tuesday. These holders were previously ineligible for the airdrop reward because their tokens were locked in staking or liquidity operations. A proposal to amend the token distribution process to include DAO community members was submitted on Sept. 16, receiving overwhelming support. As Cointelegraph reported, ShapeShift airdropped 340 million FOX tokens to over one million users …