Browsing: DeFi News

The cryptocurrency market has been thrown into a state of uncertainty as the Securities and Exchange Commission takes action against assets that may be classified as securities. Consequently, significant cryptocurrencies like Cardano (ADA), Solana (SOL), and Polygon (MATIC) have suffered significant losses, prompting concerns about their long-term viability. Over the past 24 hours, these three cryptocurrencies have collectively plummeted by an average of 23% in value, resulting in a staggering capital outflow of $6.04 billion within a single day. Cardano’s ADA is making headlines at a trading price of $0.24, showcasing a significant setback of 23.62% within a single day.…

In recent years, the decentralized finance (DeFi) sector has seen remarkable growth, challenging the stranglehold of centralized exchanges (CEXs). Users are now turning to non-custodial wallets to access even the most basic DeFi products, as the dominance of CEXs comes at a cost. For over a decade, centralized exchanges have been the primary method for transferring value between blockchains and introducing the masses to the world of crypto. Binance, for instance, witnessed an astonishing ten-fold increase in revenue, reaching $12 billion in 2022, showcasing the profits centralized exchanges can generate. However, this success has imposed financial burdens on users, and…