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Defi Protocol Abracadabra’s Stablecoin MIM Briefly Slides to $0.91 During the Crypto Market Rout

Amid the crypto market carnage this weekend, another stablecoin slipped below the $1 peg on Saturday, June 18, as the crypto asset called magic internet money (MIM) briefly dropped to…

Continue ReadingDefi Protocol Abracadabra’s Stablecoin MIM Briefly Slides to $0.91 During the Crypto Market Rout

Value Locked in Defi Slips to $74 Billion, Top Smart Contract Tokens Down Over 70% This Year

Decentralized finance (defi) has been hit hard by the recent crypto market rout as the total value locked (TVL) across 118 different blockchains has slipped below the $100 billion mark…

Continue ReadingValue Locked in Defi Slips to $74 Billion, Top Smart Contract Tokens Down Over 70% This Year

Defi Platforms and Smart Contract Tokens Suffer the Most During the Crypto Market Rout

While the crypto economy has dropped lower in value against the U.S. dollar, sliding to just under $1.2 trillion, the value of decentralized finance (defi) protocols and smart contract tokens…

Continue ReadingDefi Platforms and Smart Contract Tokens Suffer the Most During the Crypto Market Rout

DeFi protocols launch stablecoins to lure new users and liquidity, but does it work?

In the wake of UST’s collapse, several DeFi platforms launched their own stablecoins to lasso new users and liquidity but are investors willing to take on the risk in return…

Continue ReadingDeFi protocols launch stablecoins to lure new users and liquidity, but does it work?

Tron Now Commands the Third-Largest TVL in Defi — Network’s Stablecoin USDD Confronted by Skepticism

This week the Tron blockchain has become the third-largest network in terms of total value locked (TVL) in decentralized finance (defi) protocols. Interestingly, 48.19% of the TVL is held by…

Continue ReadingTron Now Commands the Third-Largest TVL in Defi — Network’s Stablecoin USDD Confronted by Skepticism