Nearly 6% of Kyber’s Token Supply Staked in One Day

$16.7 million worth of decentralized finance (DeFi) liquidity protocol Kyber Network’s KNC token have been locked up in staking within 24 hours of the service’s launch. The milestone was noted by Kyber co-founder Loi Luu, who tweeted to announce that nearly 10.5 million KNC had already been staked. Hype for the launch drove a major rally over the months leading up to the staking commencement, with the price of KNC more than tripling against the dollar since late-April. However, KNC has posted a 10%  price retracement since topping out roughly…

Monaco Passes New Security Token Laws, but Acting on Them Is Not Easy

Monaco is one of the most exceptional countries on the planet. Its unique mix of scenery and history creates a blend that attracts tourists from all over the world. Anyone who has ever visited falls swiftly in love with its charm.
 Alongside its reputation for class, architecture and an outstanding grand prix circuit, Monaco has always seen itself as a “niche” financial-sector pioneer. Many people don’t realize that Monaco prides itself on its willingness to think “outside of the box” with respect to financial laws. This thinking shows a commitment…

What’s Fueling DeFi Token Compound’s Powerful 20% Intraday Rally

One of the crypto market’s hottest DeFi tokens, Compound (COMP) has gone on an over 20% intraday rally. Meanwhile, the rest of the market is seeing red due to overall Bitcoin weakness. What’s causing Compound to stand out and surge while the rest of the crypto market tanks? Compound Becomes Breakout Superstar in Already Red Hot DeFi Space The cryptocurrency known as Compound has had an incredible ride over the last month. Decentralized finance along with crypto Twitter hashtag emoji, are all the rage right now. The former of the…

Compound’s COMP Token Takes DeFi by Storm, Now Has to Hold Top Spot

When Compound launched its governance token, COMP, on June 16, few in the crypto space could have predicted how rapidly it would rise to the top. As Cointelegraph reported at the time, it only took a single day of trading for COMP to become the leader of the decentralized finance rankings. It was a historic moment for any fans of DeFi, marking the first time that Maker (MKR) had been toppled from its throne since the DeFi movement began.  News of a Coinbase Pro listing only pushed the price to…

OKEx Announced The Listing of Compound DeFi Protocol’s COMP Token

Cryptocurrency exchange OKEx have just listed Compound’s COMP token for trade.  COMP is the native token of Compound — a DeFi protocol that allows its users to earn interest on deposits or lend cryptocurrencies. Lending and borrowing on Compound are managed through a decentralized peer-to-peer blockchain-based protocol. After its 2017 launch, the platform grew to reach the top spot among all the DeFi services based on the total value of assets locked, according to DeFi Pulse. In a June 29 announcement, OKEx stated that COMP spot trading against Bitcoin (BTC)…

Compound’s COMP Token Paves Way for DeFi Yield Wars

Recent events surrounding the launch of Compound’s token seem to have been noticed by many other projects in the decentralized finance, or DeFi, ecosystem. In an interview with Cointelegraph, Framework Ventures’s co-founder Michael Anderson said that the token’s success may provide an example to follow for other DeFi projects who may start engaging in “yield farming wars.” The result of this will be increased interest in the DeFi space as a whole, Anderson argues. Some of those effects can already be seen in skyrocketing valuations for other tokens, like Aave’s…

Anchorage Launches Support for DeFi Token KEEP

Cryptocurrency custodian Anchorage is continuing to expand its focus on decentralized finance (DeFi), announcing support for custody of Keep Network’s token. The KEEP token powers tBTC, a trustless and open-source protocol allowing the creation of Ethereum tokens that represent Bitcoin (BTC) which are used for accessing based DeFi protocols.  The protocol also facilitates the autonomous containerization of users’ private data when engaging with public chains, bolstering the privacy enjoyed by DeFi users. Anchorage expands support for DeFi assets Speaking to Cointelegraph, Anchorage co-founder and president, Diogo Monica, emphasized the need…

Galaxy Digital and Bitmain Lead AVA Project’s $12M Private Token Sale

The Avalanche Foundation, the organization behind the Emin Gün Sirer-founded blockchain protocol Avalanche, has raised $12 million in a new private token sale. According to an announcement on June 25, the sale was led by major industry investors like Chinese mining giant Bitmain and Mike Novogratz’s Galaxy Digital. The token sale comes ahead of the AVA mainet launch scheduled for summer 2020.  Other prominent investors in AVA’s token sale included San Francisco-based venture capital firm Initialized Capital, NGC Ventures and Dragonfly Capital. Dozens of other individuals have participated in the…

COMP Token Spikes 25% on Surprise Binance Listing

The price of the Compound Governance Token (COMP) has jumped by one-quarter on news of a surprise listing on leading cryptocurrency exchange Binance. COMP tokens began trading approximately one week ago, quickly making triple-figure gains and attracting millions in trade volume. Binance stated that it did not charge a listing fee for introducing the pairings.   Binance now supports pairings between COMP and Bitcoin (BTC), Tether (USDT), Binance Coin (BNB), and BinanceUSD (BUSD). COMP spikes 25% in five minutes on Poloniex On June 25, Binance announced that it would list pairings…

FC Barcelona Fan Token Sees Impressive Volume on First Day

In its first day of trading, the fan token for Spanish soccer team FC Barcelona (BAR) has seen trading volume that almost doubled the $1.3 million raised in the crypto asset’s token sale earlier this week. As of this writing, the FC Barcelona Fan Token has generated just shy of $2.5 million trade activity, ranking the crypto asset as the second-most traded market on the Chiliz trading platform behind BTC/USDT. The token’s sole pairing against Chiliz’s native token CHZ has produced more than five times the 24-hour trade volume of…