Staking activity on Ethereum has surged in recent months, yet the value of decentralized finance (DeFi) assets remains in a downward trend. As more users stake their ETH to earn rewards, it begs the question: can the value of DeFi support Ethereum’s booming staking economy?
In the world of cryptocurrency and finance, much has been happening of late. Curve Finance has just announced a reimbursement of users due to a DEFI hack, while Consensys has announced the launch of their Layer 2 product entitled “Finance Redefined”.
DeFi lending platform, Optimism Finance, has suffered a $7M attack resulting in the collapse of yet another crypto bridge. Users are warned to be cautious as their funds may be at risk.
Polygon has announced a $1.5 million institutional investment in the Decentralized Exchange (DEX) platform D8X. The investment signals Polygon’s goal for the Decentralized Finance (DeFi) industry to surpass traditional Centralized Finance (CeFi).
Despite positive developments in the cryptocurrency industry, DeFi tokens still remain largely depressed. According to the latest report, DeFi tokens continue to struggle to reach pre-crash levels, possibly indicating prolonged recovery times.
DeFi protocols are still on alert after the Curve attack but they remain resilient. Now, the crypto and DeFi landscape must assess the aftermath and move forward to ensure security and protect user assets.
A vulnerability in ZkSync’s smart contract infrastructure allowed an attacker to exploit the platform, leading to the theft of $3.4 million in funds from the project’s largest lender. No funds belonging to other users were affected.
Coinbase Ventures-backed Base, a layer two-scaling solution, has seen a massive surge of 53% this week. The advancement in base layer liquidity and rocketing TVL is being credited for the sudden rise.
A major DeFi protocol recently saw a disastrous hack resulting in 3260000 USD worth of cryptocurrency being stolen due to a critical bug in its code This is a stark reminder of the importance of security in the growing DeFi industry
Coin Center and Blockchain Association CCBA have criticized a new US Senate DeFi bill as unworkable arguing it limits innovation and consumer education and protection in the crypto space