Chainlink’s Network Growth at its Lowest Since October 2020 – Report

Network growth on Chainlink is at its lowest since October 2020 Fewer and fewer Chainlink addresses are interacting with the network Chainlink daily active addresses are at 5k compared to 13k in April There has been an increased inflow of LINK into crypto exchanges From a technical analysis point of view, Chainlink is in bearish territory trading below the 200-day and 50-week moving averages Activity on the Chainlink (LINK) network is slowing down. This is according to a report by the team at Santiment who pointed out that Chainlink’s network…

Read More

El Salvador’s Bitcoin (BTC) Law to Take Effect on September 7th

El Salvador’s law embracing Bitcoin as legal tender will take effect on September 7th The Government of El Salvador has pledged to airdrop $30 to each adult citizen who use the country’s very own Bitcoin wallet of Chivo The airdrop could be worth $180 million or more using an estimated adult population of 6 million Bitcoin adoption continues to grow with Paraguay also considering similar legislation The highly anticipated law by the El Salvador legislative assembly recognizing Bitcoin as legal tender will take effect on the 7th of September. The…

Read More

Polygon Retains DeFi Users Despite Lower Fees on Ethereum – Report

DeFi users have stuck with Polygon despite lower gas fees on Ethereum DeFi on polygon continues to experience record growth due to its affordability Total DeFi users on MATIC have exceeded 420k On June 15th, the total value locked on Polygon hit an all-time high of $11.85 Billion DeFi users that have interacted with Polygon (MATIC) are choosing to keep using the protocol despite the current drop in gas fees on Ethereum. This observation was made and shared by the team at DaapRadar who explained the situation as follows. Ethereum’s woes…

Read More

NFT Roundup: Beeple’s We.new Platform, DeLorean DMC-12 NFTs, Jerry Garcia’s Music Art

Over the last seven days, there have been close to 18,000 non-fungible token (NFT) primary sales worth over $12.7 million. This week also saw a great number of non-fungible token (NFT) announcements surrounding big names like DeLorean Motor Company, the renowned NFT artist Beeple, the Grateful Dead’s Jerry Garcia, USA Today and more, as the NFT ecosystem continues to swell. Beeple Launches NFT Platform After making history with his $69 million non-fungible token (NFT) art auctioned at Christie’s, Mike Winkelmann, more commonly known as Beeple, revealed the launch of an…

Read More

Altcoin Roundup: Stablecoin pools could be the next frontier for DeFi

The days of 4,000% APY on DeFi liquidity pools could soon be replaced by safer, lower-yielding stablecoin-denominated pools. In times like these, when the entire cryptocurrency market is down and there is nary a sector-wide runup to be found, traders have to dig into data to see how the market dynamics may have changed to pinpoint signs of new growth.  Stablecoins are the newest trend to emerge in the decentralized finance (DeFi) arena due to the resiliency they bring to the sector, especially since protocols that are more reliant on…

Read More