The DeFi Education Fund (DEF), an organization funded by Uniswap to spearhead lobbying and educational initiatives in support of the decentralized finance sector, has defended its sudden move to liquidate half of its UNI treasury earlier this week. The organization said it needed to convert the funds into stable assets to weather crypto market volatility. In May, the DEF was conceived in a Uniswap governance proposal from the Harvard Law Blockchain and Fintech Initiative, with the entity being formed earlier this month after the vote passed with a treasury of 1 million UNI tokens, worth more than $18 million at …

Bitcoin (BTC) has once again held the critical support area at $31,000 today, indicating accumulation at lower levels. This led some analysts to speculate that traders were selling their holdings to investors with a low history of selling in anticipation that “a supply shock” to occur when the re-accumulation process completes. Another sign of strong hands entering the crypto market was seen when Capital International Group, a $2.3 trillion asset manager, purchased a 12.3% stake in MicroStrategy, which many believe to be a sort of Bitcoin proxy stock because it holds 105,084 Bitcoin on its books. This acquisition suggests the …

The long-awaited layer two scaling solutions upgrade for Uniswap has finally been spotted in the wild with the launch of version 3 on Optimistic Ethereum. In a post on July 13, the world’s most popular decentralized exchange stated that it was pleased to finally announce the alpha launch of Uniswap v3 on the Optimistic Ethereum (OΞ) mainnet. The alpha launch is a limited version of the full system which helps developers deploy the system gradually and address any issues that may arise. The blog post elaborated: “Please treat this as an early alpha product. Optimistic Ethereum is a complex Layer …

The controversial Uniswap-funded DeFi Education Fund has liquidated half of its donated funding into stablecoins, attracting condemnation from many in the crypto community. On June 12, the fund tweeted that it was selling 500,000 UNI to Genesis Trading for 10.2 million USDC in an over-the-counter (OTC) trade, despite the Uniswap proposal for the fund indicating it would liquidate the 1 million UNI over four to five years. In May, the student organization, Harvard Law Blockchain and Fintech Initiative, launched a governance proposal advocating for the creation of the fund and allocation of 1 million UNI (worth roughly $18 million at …

Bitcoin’s (BTC) roof has been shifting lower in the past few days, which is a negative sign because it shows that bears are selling on every minor rally. Bitcoin’s weakness is affecting the major altcoins as most are gradually drifting lower. Joel Kruger, a Forex strategist at LMAX, recently said: “It would be foolish to rule out the possibility for a drop back below the June low, and we think there would be a risk in that scenario where the Bitcoin price could revisit the old record high area around $20,000.” However, Bitcoin’s fundamentals seem to be improving. The network …

Earlier this week, Fan Yifei, the deputy governor of the People’s Bank of China has warned that stablecoins like Tether (USDT) pose “risks and challenges to the international monetary system, and payments and settlement system”. Fan did not even spare Bitcoin (BTC) and called it a tool for speculation and a possible threat to “financial security and social stability.” Other than the FUD from China, several traders have been focusing on the unlocking of a large amount of Bitcoin at the Grayscale Bitcoin Trust as a possible bearish sign. However, market analysis by crypto trading firm QCP Capital said the …

Bitcoin’s (BTC) range-bound action seems to be increasing the confidence of institutional investors looking to resume investing in cryptocurrencies. Proof of this comes as Marshall Wace, a London-based hedge fund, announced plans to invest in the digital asset space, according to sources at the Financial Times. A survey of wealth managers and institutional investors already holding crypto, from the U.S., U.K., France, Germany, and the UAE shows that 82% of the respondents expect to increase their investments in digital assets by 2023. The research shared with Cointelegraph claims that only 7% of the participants plan to reduce their exposure to …

Dogecoin (DOGE) has proven to the world that even a project that started as a joke can gain value and notoriety in the cryptocurrency space. This phenomenon opened the door for multiple “meme” cryptocurrencies to gain a foothold, and a quick look at the trending tokens list on CoinMarketCap shows the meme effect has found a foothold. The latest meme coin to capture investors’ attention is Shiba Inu (SHIB), a project that originally gained notoriety when Ethereum co-founder Vitalik Buterin donated more than $1 billion worth of SHIB to the India COVID-19 Relief Fund. While many analysts thought the project …

The weekend rally in cryptocurrencies was led by Bitcoin (BTC) but this move was not supported by huge trading volumes. According to on-chain analysts at CryptoQuant, the low trading volume suggests that “whales are staying low without much action.” However, Bitcoin has successfully held the $30,000 support for two weeks, which suggests that accumulation is taking place at lower levels. The Crypto Fear and Greed Index rose to 29 on July 5, its highest level in about three weeks. This suggests that aggressive investors may have started bottom fishing. If bulls successfully hold the $30,000 level in Bitcoin for a …

As one of the most eagerly anticipated rollouts of the decentralized finance (DeFi) sector, Uniswap v3 went live on May 5. The upgrade targeted greater capital efficiency and better flexibility for liquidity providers. The concept of Uniswap v3 includes features such as concentrated liquidity — which allows liquidity providers (LPs) to allocate their capital in certain price ranges rather than distribute liquidity across the entire price curve — as well as multiple fee tier systems which help LPs to adjust to varying degrees of risk. The launch of Uniswap v3 sparked discussions across the crypto community: While some people expected …

An ex-Google tech lead and YouTuber with more than 1.1 million subscribers has been accused of engineering a multi-million-dollar “pump-and-dump” scheme. Patrick Shyu, known pseudonymously as TechLead on YouTube, launched the Million token (MM) via an initial DEX offering on leading decentralized exchange Uniswap on Thursday. The project’s website describes Million as a pre-mined cryptocurrency with a fixed supply of 1 million tokens that are backed by one USD Coin (USDC) each per token. The website emphasizes that despite only being backed by $1 million worth of stablecoins, MM has “no maximum value.” After being priced at $1.00 on launch, …

Bitcoin price staged a mild resurgence at the start of this week but data from Glassnode suggests that its new BTC investors who came late to the party and are dumping their positions in a panic. This transfer of crypto assets from speculators or momentum chasers to long-term investors is a positive sign. This lays the groundwork for the start of the next bull run but it may not happen in a hurry. At the moment, institutions are unlikely to buy aggressively and propel the price of Bitcoin higher because there is still a chance that they can accumulate at …