Crypto Lender BlockFi Sees Stay Of Execution In Ongoing BIA Saga

Crypto Lender BlockFi Sees Stay Of Execution In Ongoing BIA Saga

The New Jersey Bureau of Securities has extended the deadline given to BlockFi to stop offering the BlockFi Interest Account (BIA) in the state. This was revealed by BlockFi CEO Zac Prince.

NJ Regulators Postpone Deadline To September

In a blog post, the BlockFi boss said the firm had been given until September 2 before the order directing it to block all new accounts takes effect.

Prince said in a blog that the postponement was a result of the ongoing talks with the regulators to provide more details about the BIA service.

“We’ve said time and again that the key to our industry’s success is appropriate regulation. Ultimately, we see this as an opportunity for BlockFi to help define the regulatory environment for our ecosystem.”

NJ BOS had initially filed a cease and desist order against the company on July 19, demanding that new BIAs, which promise up to 7.5% annual returns on deposited crypto, cease by July 22. The order was later delayed until July 29.

According to NJ BOS, BlockFi holds $14.7 billion in assets through the deposits on its BIA product. The New Jersey regulators said that the BlockFi Interest Accounts were unregistered securities, although BlockFi argued that they are not.

The crypto lender had previously said in a tweet that the accounts are lawful and appropriate for crypto market participants. It would continue to remain committed to offering consumers rights to earn interest on their crypto assets.

BlockFi Facing Scrutiny From Other Regulators

New Jersey is not the only state that has gone after BlockFi over its interest-bearing crypto accounts. The firm is also facing similar scrutiny from Alabama.

Last week, the Alabama Securities Commission (ASC) issued a show-cause order to BlockFi directing the firm to explain why it should not be required to stop selling unregistered securities in Alabama. BlockFi was also given a 28 days deadline to respond.

The crackdown against BlockFi’s Interest accounts has gone beyond New Jersey and Alabama as regulators in Texas, and most recently Vermont are also sanctioning BlockFi for the BIAs.

Launched in 2017, BlockFi is one of the leading cryptocurrency lenders with different products ranging from crypto-backed loans to interest-earning accounts. BlockFi recently launched its first-ever crypto rewards credit card in partnership with Visa dubbed the BlockFi Rewards Visa Signature Credit Card.

Earlier this year, the firm raised $350 million in a series D funding which saw its value shoot up to $3 billion. The company recently said it was on track to raise more than $500m in funding round.

The New Jersey-based company reportedly plans to go public within the next 12 to 18 months.

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Author: Jimmy Aki

SEC Moves To Expunge XRP Holders From Ongoing Ripple Lawsuit With Latest Filing

The US Securities and Exchange Commission’s ongoing lawsuit against blockchain firm Ripple Labs and its executives has taken a new twist.

SEC Files Opposition To Motion To Intervene

In a recent release, the agency filed a motion to stop XRP holders from intervening in the ongoing lawsuit. The filing termed the “Memorandum of Law in Opposition of the Motion to Intervene” seeks to ensure no third party is involved in the ongoing case.

The government agency said this is because the movants have no stake whatsoever and cannot be called in as reliable witnesses due to their association with the defendants.

It also noted that their grievances are properly represented by Ripple Labs and the company’s chairman Chris Larsen and CEO Brad Garlinghouse.

The SEC noted that this is not the first occasion the movants have tried infusing themselves into the case, citing their first filing in the Rhodes Island District Court.

It, however, said that the XRP holders might force the agency to take up a legal case against the body of interested movants since there has not been any reason to bring them into the matter.

The SEC said that this intervention is summarily against the agency’s sovereign immunity, and if the courts decide to let them state their case, it may be forced to bring in other disgruntled investors who feel the defendants were not honest in their dealings with them.

The financial agency also explained that the movants’ cause is a lost one given the fact that whatever funds they lost following the lawsuit on secondary markets cannot be recovered as they are not a party to the case.

The SEC said the recent filing by the lead counsel for the movants Jordan Deaton lacked any new substantive argument as they have repeatedly borrowed from the defendants’ narrative of XRP not being a “security.”

It says this sustained discourse is similar to XRP’s position and shouldn’t, therefore, be allowed to stand in order not to foster delay and confusion.

The regulatory body also jabbed at Deaton’s motive, subtly stating that this could be a platform for the lawyer to gain Twitter prominence following the growing media attention surrounding the case.

Ripple Scaling Up Despite SEC Lawsuit

The SEC’s lawsuit in the closing days of 2020 adversely affected Ripple Lab’s partnerships and its utility token’s valuation in the secondary market.

Following the December filing by outgoing Chairman Jay Clayton, crypto exchanges in the US swiftly delisted the XRP token from their platforms. If that weren’t enough, key partnerships with US companies, went underwater with MoneyGram reneging its agreement with the embattled company.

Ripple CEO Garlinghouse had noted that most of the blockchain company’s business was executed overseas, citing the regulatory haze in the American nation as a deterrent to innovative banking in the country.

He also pointed out that only the US SEC has a problem with the XRP token given that Asian nations, the area XRP has the most influence, do not classify the digital token as a “security.”

In the months that followed, XRP dropped from the 4th most valuable crypto position to the bottom ten, and its value traded way below a dollar.

But following preliminary victories in the opening case with the SEC, the XRP has rallied significantly, and calls for the digital payment firm to be relisted on exchanges have begun making the rounds.

And as the general crypto market has rallied, the XRP token has surged after it rose 17% in April and momentarily reclaimed its position as the 4th most valuable cryptocurrency.

The San Francisco-based fintech company has also been strategically repositioning itself since the SEC lawsuit was made public. Ripple said it was launching a private version of its XRP Ledger Protocol tailored for national banks in a release on its website. This private protocol would help apex banks in the issuance, maintenance, and monitoring of central bank digital currencies (CBDCs), set to serve a secondary role to fiat.

The US tech company also recently appointed former US Treasurer Rosa Gumataotao Rios as a board member. Alongside, financial veteran Kristina Campbell will serve as the company’s Chief Financial Officer (CFO).

Rios’ former role as the currency maker is seen as a strategic move to sell the idea of digital currencies to anti-crypto critics. Campbell would be tasked with the responsibility of accelerating the company’s growth while delivering value to shareholders.

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Author: Jimmy Aki

Crypto Miners Taking Advantage of Hot Market to Raise Funds

Cryptocurrency companies are taking full advantage of the ongoing bull market. There is a lot of euphoria present in the market as Bitcoin becomes a trillion-dollar asset and the overall crypto market cap grows past $1.7 trillion.

Already, we have seen the leading US exchange Coinbase filing to go public with a whopping $100 billion valuation. This is only expected to lift the market mood further, described by some as a watershed moment for the crypto industry.

Another crypto exchange Kraken is on track to do the same, but not until next year. ICE backed Bakkt took the SPAC route, and so did the Bitcoin miner Cipher.

The same can be seen happening in China, attracting millions of dollars.

Chinese Bitcoin mining machine manufacturer Ebang International Holdings conducted two fundraising rounds just last month. The company that debuted on Nasdaq in June raised $170 million.

Eban plans to use the newly raised capital to expand into crypto mining, to open crypto exchanges in Canada and Singapore, and to launch a Robinhood-like Bitcoin trading platform. Guo Yi, COO at Univest Securities, which underwrote the deals said,

“Ebang’s growth story is very attractive to institutional investors … fundraising by all industry players is getting busier thanks to the bitcoin bull.”

Last month, it also announced that it would be launching Dogecoin (DOGE) and Litecoin (LTC) mining operations, for which they completed a design of a chip for simultaneous mining.

A newcomer, another Chinese company, Code Chain New Continent Ltd, the waste recycling company raised $25 million in February to foray into Bitcoin mining, for which it has ordered 10,000 machines. David Feng, co-CEO of Code Chain said,

“Bitcoin prices present us with a unique opportunity to establish mining operations.”

Another Nasdaq-listed Chinese Bitcoin mining machine maker, Canaan Inc., is expanding into mining.

In private markets, “competition is white-hot and filled with sharp elbows,” said Jehan Chu, managing partner at Hong Kong-based blockchain venture capital firm Kenetic Capital. “Every good-quality funding round is oversubscribed within a week of it being announced.”

Crypto miner Argo Blockchain announced this week that it had raised around £26.8mln (nearly $37.5 million) through a placing of new shares to institutional and other investors. It will allow the company to complete an investment in Pluto Digital Assets and pursue strategic opportunities in crypto mining, decentralized finance (DeFi), and Web 3.0 initiatives.

Cobo, a crypto custodian and wallet service provider, is also planning to launch a new round of venture capital funding this month to finance its international expansion. “The market is bullish, and our business is growing very, very rapidly,” said Jiang Changhao, co-founder and CTO of the Beijing-based company, aiming for tens of millions of dollars.

Amidst this, the world’s largest crypto-mining equipment maker, Bitmain, has been the target of an investigation into illegal talent from Taiwanese firms over a period of three years. Taiwan prohibits firms from China from recruiting locally or doing business without prior approval.

In other news, JPMorgan has filed for a “Cryptocurrency Exposure Basket” through companies that invest in digital assets. The referenced stocks are Riot Blockchain, NVIDIA Corporation, Taiwan Semiconductor Manufacturing Company Ltd., and others.

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Author: AnTy

Rising Treasury Yields are a Danger to Bitcoin & They Are Soaring Right Now

The ongoing yield debacle is not good for risky assets and gold, and the leading digital currency is still struggling to recover from the losses.

Risky assets are back on the incline as Treasury yields ease off after hitting multi-year highs on Thursday. Also, the Federal Reserve Chairman calmed the nerves by committing to keeping the interest rates low and that it will continue to pump money into the economy.

In the early hours of Thursday, 10-Treasury yields jumped to 1.427%, last seen in March 2020, but ended the day lower at 1.3740%. Yields on 30-year Treasury soared to 2.888%, Dec. 2019 high to end lower at 2.226%. Bond prices and yields have an inverse relationship.

Today, they both are back on the rise by about 0.059%.

“Bonds puking, again… Need this to stop going down (i.e., rates going up) to have nice things,” said trader and economist Alex Kruger.

The 30-year German yield has also turned positive, rising to 0.2% from -0.2% in three short months. German 10-year yields are still negative though at -0.3%.

This spooked the central bank, and now “the ECB is closely monitoring the evolution of longer-term nominal bond yields,” said European Central Bank President Christine Lagarde this week.

Fed, however, is not that concerned when asked about the rise in yields; Jerome Powell said, “It’s a statement of confidence on the part of markets that we will have a robust and complete recovery.”

Rates going up is negative for stock valuations, particularly tech, and assets that benefited from negative real yields the most, gold and bitcoin, Kruger said,

“The thesis is the Fed will intervene to bring rates down.”

“If that trend is not stopped hold on to your horses because risk assets, gold and highly likely bitcoin as well are all in for a very rough ride down. You want to watch interest rates like a hawk.”

Risk On or Off?

This fall in yields, meanwhile, has sparked a rally in stocks. S&P 500 is yet again reaching its peak at nearly 3,935 from Feb. 12.

Tech-heavy Nasdaq, which slid 5.6% this week, is back at 13,600, still in need of a pump to hit its 14,095 all-time high from Feb. 12.

“In institutional circles, corporate treasuries are often looked down on as dumb money,” notes Kruger.

While stocks are clearly enjoying this fall in Treasury yields, the same is not the case for the traditional safe-haven asset.

Gold is not having a good week, and today the spot gold went under $1,790 per ounce. The precious metal is on a downtrend ever since it hit a new high in August at about $2,075.

The US dollar is also not enjoying the increase in yields and is back under 90, aiming to go for fresh multi-year lows at 89.2 in early January.

Coming to digital gold, Bitcoin had a brutal week, losing 23% of its value with a drop under $45k. For now, the market struggles to recover completely despite the price of Bitcoin going above $50,000. Trader Cantering Clark said,

“Rates are rising. Risk-on assets don’t really benefit in that situation. All assets would get hurt with a rapid rise. Saylor purchase and Tether news came out, and we don’t have a very obvious response. Would not get overly bullish.”

However, according to him, this is all just short-term as “Bitcoin has already cleared the runway and is now on its way to further appreciation and adoption.”

Alex Kruger is of a similar opinion as he notes that there’s a chance Bitcoin will do its thing as “institutional penetration remains very low.” This means the institutional inflow may continue, and retail will be busy stacking regardless. Also, corporates may join in and “be more focused on inflation or digitalization than rates.”

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Author: AnTy

Mark Cuban Compares the Ongoing Blockchain & DeFi Development to the “Early Days of the Internet”

Mark Cuban Compares the Ongoing Blockchain & DeFi Development to the “Early Days of the Internet”

Blockchain and digital goods, according to the Dallas Maverick owner, the “Money 2.0,” are the future.

Shark Tank’s Mark Cuban’s enthusiasm about the cryptocurrency market, especially the decentralized finance (DeFi) sector, continues to grow, which he eagerly shares with the world.

In an interview with the Defiant podcast, the billionaire owner of the Dallas Maverick shared that he is a DeFi and Ethereum bull and that “ETH has an advantage over BTC as a store of value.”

While his general stance isn’t changed and Bitcoin can’t be used as a currency, he believes the digital currency can become powerful enough to be a store of value.

But smart contracts is what has him more excited as it allows developers to lay the foundation for “friction-free banking.” Ethereum is the blockchain where this is all happening, and that makes ETH far more of a store of value than BTC, as per Cuban. This is why he is buying more ETH on pullbacks and not Bitcoin.

This makes sense given that Ether is outperforming Bitcoin in 2020 with 150% gains YTD compared to Bitcoin 62%. Eth also outperformed Bitcoin last year and during the 2017 bull run.

In a separate interview with Real Vision founder and CEO, Raoul Pal, Cuban talked about blockchain technology, which, if you don’t understand, “is going to smack you down and make you bleed,” he said.

“What we’re seeing right now with this communal effort, and the foundation of blockchain-type applications that people stuck at home can use to try to make money … just changed the game 180 degrees.”

To him, the development going on in the space reminds him of the “early days of the internet,” which is brand new, and “no one really knows what it’s going to be.”

That’s why the high fees on Ethereum and DeFi make sense as the billionaire points out how it was about two decades into the internet that bandwidth became available and cheap enough to make streaming possible, and “we’re only 10, 12 years into crypto after starting with bitcoin,” he said.

According to him, the evolution of blockchain and digital goods is the future, which, as we have seen Cuban himself partake in by selling several NFTs. He said,

“Now this is America 2.0. This is money 2.0. And I don’t mean currency money, I mean being able to earn money via digital has all changed. The only thing we don’t know is who are the Amazons and who are the Pets.coms.”

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Author: AnTy

Chinese Tech Firms Didi, Meituan, & Bilibili Launch Lottery-Based Trials for Digital Yuan

Tests for China’s digital yuan are still ongoing as companies continue to join the People’s Bank in its efforts to digitize the currency.

This week, local news source CLS confirmed that three large internet companies had joined the tests in what appears to be a lottery-style trial.

Everyone Welcome

As the news explained, Didi Chuxing, the largest ride-hailing service in the country, had joined commercial products and bike-sharing company Meituan and video-sharing site Bilibili on a lottery-based trial of the digital yuan. The test will focus on Suzhou, a region on the western side of Shanghai.

The report explained that the trial launched earlier today, and it will involve about 10,000 residents in the city. These residents will vie for about 200 digital yuan units each, which they can spend at merchant stores with point-of-sale technology.

In addition to retail spending, the winners can spend the tokens on the three companies’ services. They can order rides on Didi, pay for bike-sharing on Meituan, and spend on new features from Bilibili’s site. It is unclear how long the trial will last, but it continues what appears to be a series of rests and implementations for the digital yuan.

All Hands on Deck

The companies are just a shortlist in a line of corporations looking to test the digital yuan. The Peoples’ Bank has incorporated several other companies for the better part of the year, with names including Alipay and WeChat Pay, the country’s two largest payment processors.

In October, Huawei, the country’s largest smartphone manufacturer, announced on its Weibo channel that its next flagship device – the Mate40 series – will come with a hardware wallet for the digital yuan. Touting it as a channel to be a part of China’s digital revolution, Huawei explained that the wallet would provide optimal privacy and anonymity.

The wallets will also feature dual transactions, ensuring that users can complete transactions by touching two compatible phones, even without any internet connection.

The tests have also gone beyond just tech companies. Economic Information Daily reported in October that gas stations in Shenzhen had begun accepting the asset. As the news medium confirmed, 11 gas stations had been integrated into the program, and more would join.

The program was the brainchild of Guangdong Petroleum, a state-owned oil, and gas firm. Participating outlets come fitted with barcode readers to ensure easy and quick payments. Guangdong praised the asset’s speed and security, explaining that reviews of its use had been positive. It is expected that these trials have ended already.

A similar giveaway to what is happening in Suzhou also occurred in the Luohu District of Shenzhen. Per a Sina Finance report, the district’s government started a program to send ten million units of the asset (worth about $1.5 million) to 50,000 residents via a lottery.

Unlike this program, however, that one focused primarily on retailers and brick-and-mortar shops across the region.

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Author: Jimmy Aki

Ethereum Has “Little Resistance Ahead,” Over 100,000 ETH Now Staked

Bitcoin is not the only protagonist of the ongoing bullish crypto market.

While the leading digital asset popped above $18,000, ready for a new all-time high, the price of Ether also surged to nearly $500, last seen in June 2018.

Both Bitcoin (BTC) and Ethereum (ETH) are enjoying a hot streak this week. While BTC’s realized cap topped at $130 billion on Nov. 17, ETH’s realized cap grew 3.9% week-over-week and is at its highest level since Sept. 2018 at over $36 billion.

According to In/Out of the Money Around Price (IOMAP) indicator of IntoTheBlock, “there is little resistance ahead until $581, with strong support around the $460 mark.”

At $460, 80% of the addresses currently holding ETH are experiencing profit.

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Another encouraging pattern is the percentage of ETH supply on cryptocurrency exchanges, which continues to decrease steadily. About 3 million ETH has moved off centralized exchanges since September, which according to quant trader Qiao Wang could be “a result of “productive” activities like Uniswap yield farming.”

Wang further believes “ETH could outperform BTC in the next bull run. Perhaps not on a risk-adjusted return basis, but likely on an absolute return basis.”

Another reason for this movement could be ETH holders depositing their ETH for staking for the first stage of ETH 2.0 – the “Beacon Chain.”

The progress of Eth 2.0 staking is behind schedule, with another 13,424 staking validators are required in the next 2 weeks to trigger the launch of ETH 2.0.

With about 80% of the required validators still missing, the current rate is not enough, but it is expected to ramp up towards the end of the deadline.

Still, when Phase 0 launches, it doesn’t change anything about Ethereum as the Beacon Chain doesn’t have accounts, and it can’t handle smart contracts either. It is simply the first stage in the transition of the second-largest network from a proof-of-work to a proof-of-stake consensus model.

The Beacon Chain will undergo testing in a live environment, and in the future, when Ethereum shard chains (Phase 1) are launched, the two blockchains will eventually be merged, at which PoS mining will be enabled, bringing faster processing times and cheaper transactions.

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Author: AnTy

Bears in Disbelief: Grayscale Holds 2.7% of Bitcoin Supply, Galaxy Posts Strong Results

Grayscale Investments now holds more than 500,000 Bitcoin in its BTC Trust.

Amidst the ongoing rally that saw BTC hitting $17,700 today, Grayscale Bitcoin Trust also increased its BTC stash, now holding about 2.70% of Bitcoin’s supply. This percentage number goes further up when taking the millions of lost Bitcoin into consideration.

The world’s largest Bitcoin investment product is trading at a 20.7% premium to Bitcoin’s actual price. The company also charges an annual fee of 2%.

Its share GBTC has increased 152% in value in 2020, currently trading at $20.32.

Last week, the fund reported its largest weekly inflow ever with 15,907 BTC worth $215 million.

In the crypto market, bears are also in disbelief with yet another strong week. After recording six green weeks in a row, Bitcoin is at January 7, 2018, highs. This has roughly 99% of the addresses currently holding BTC in profits.

The open interest on CME just went up to a new all-time high of $975 million, accounting for 15.4% of the total open interest in the futures market, which is also at an all-time high of $6.3 billion.

Bitcoin’s blockchain activity is also growing, with the 7-day average of the amount of active BTC addresses at its highest since January 2017 after progressing strongly throughout the bull run this fall.

Not just Bitcoin, but Grayscale’s Ethereum product is also seeing an increase in interest. Grayscale’s Ethereum Trust (ETHE) now holds 2.24% of ETH’s entire cap or $1.175 billion worth of Ether.

In total, Grasyacle has a total of $9.9 million in assets under its management.

Elsewhere, Mike Novogratz’s OTC trading firm, Galaxy, posted strong results in Q3 2020 with over $1.4 billion in trading volume, an increase of 75% YoY. Even LMAX saw its best month ever in Sept. with more than $10 billion in volume.

Galaxy’s net income also came in stronger than last year’s at $44 million vs. a $68 million loss in Q3 2019, which was primarily blamed for the steep losses.

The firm acquired two companies: crypto lender DrawBridge and market maker Blue Fire Capital while sharing its plans to expand in Canada through a partnership with major Canadian investment company CI Global Asset Management to launch a public Bitcoin fund in the country.

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Author: AnTy

Fidelity On A Hiring Spree to ‘Capitalize On Increased Market Demand’ For Digital Assets

Amidst the ongoing market frenzy, Fidelity Digital Assets is looking to hire more than twenty engineers to help them expand its capabilities and “capitalize on increased market demand,” basically to build the “future of finance.”

One of the largest asset managers in the world with $3.3 trillion in assets under management, Fidelity investments first started researching digital assets and blockchain in 2014, and then in 2018, they launched Fidelity Digital Assets. FDA was the companies,

“First step towards a long‐term vision to create a full‐service platform for storing, trading, and supporting digital assets.”

In the past two years, the digital assets market has grown “exponentially,” with more institutions adopting them as part of their portfolios.

So, in this changing landscape, Fidelity wants to improve its bitcoin custody and build new products to support the growing ecosystem. Peter Farland, Chief Technology Officer at Fidelity Digital Assets, said,

“Ultimately, we imagine a future where all types of assets are issued natively on blockchains or represented in a tokenized format.”

The company is hiring engineers with development experience with Bitcoin, Ethereum, and other digital assets for Merrimack, NH, and Boston, MA locations in the US.

The idea is to create secure, interoperable, and scalable products to offer safe and simple investment in Bitcoin and increase digital assets’ overall adoption.

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Author: AnTy

Amidst the DeFi Rout, Curve (CRV) is the Biggest Loser

The biggest loser of the ongoing DeFi winter is the decentralized exchange Curve’s token CRV.

Launched in August amidst the controversy of being pre-mined, it didn’t take much time for the token to make its all-time high at $9.60 with the DeFi bull run going on at full speed.

Since then, it has been only on a downtrend, down nearly 93% from its ATH, in just over a month. At the time of writing, CRV/USD has been trading at $0.650.

“This chart is going to look like ZEC,” said trader Moon Overlord. The ZEC price chart is mostly a straight horizontal line, which doesn’t look much different from CRV.

Volume is no different either on the platform. On Sept. 14, Curve recorded its highest volume of $419 million, and since then, it has been on a decline hitting $34.5 million yesterday, last seen in August when it was on an uptrend.

The crazy inflation doesn’t help either, and the token continues to buckle “under continual inflation sell pressure.”

“CurveFinance is a phenomenal product… But given the insane inflation, hard not to be bearish CRV,” said Jason Choi of crypto fund The Spartan Group.

The Power of DEXs

Curve is currently the third-largest DeFi project in terms of total value locked at $1.5 billion, just around its peak. Removing the endogenous asset from the protocol leaves just $339 million.

This DEX is optimized for low slippage swaps between assets pegged to the same value.

It’s clone Swerve has also lost about 89% of its value since its peak. Once having $941 million in TVL and recording over $220 million in volume, Swerve has crashed to $46 million and $3.6 million, respectively.

Uniswap exchange beats Curve as the dominant (21.26%) force in the sector, which has $2.3 billion of Total Value Locked (TVL) — a new all-time high. The highest volume ever recorded on Uniswap has been about a billion twice in a row, which has now come down to just above $300 million. However, UNI has also lost more than half its value since the ATH.

However, both are uncomparable as Curve’s volume is mostly from stablecoins.

Moreover, Uniswap even surpasses the volume of leading cryptocurrency exchanges. In the month of September, compared to Coinbase’s $13.6 billion, Uniswap did $15.4 billion in volume, as per Dune Analytics.

“Uniswap overtook Coinbase in volume in September. Even while facing an onslaught of competitive forks, such as Sushiswap. This is impressive,” noted trader and economist Alex Kruger.

These past few months actually belongs to DEXs, recording $20.5 billion of volume in the last 30 days.

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Monthly DEX Volume By Project

During this summer cycle, the majority of the DeFi tokens have lost a significant amount of their value today, from their highs hit during August 15 and Sept. 1st.

While CRV is at the top, Sushi and bZx aren’t much behind with their 91.5% and 90% losses, respectively. Others have slid down 88% to 35%. During this period, the Ethereum price also dropped 28.7%, currently trading at $351.

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Author: AnTy