Decentralized Exchange News

2022-09-16 20:15:03 1inch: Severe Vulnerability in Ethereum Vanity Address Tool Risks Millions of Dollars

Decentralized exchange aggregator 1inch claimed on Sept. 15 to have discovered a severe vulnerability in Ethereum vanity address generating tool Profanity. This has the potential to put millions of dollars in user money at risk.1inch founder and CEO Anton Bukov warned ethereum users in a tweet that “funds are not Safu,” crypto lingo used to express that user funds are at risk of loss following a hack or exploit. Ethereum uses a combination of public and private keys to generate wallet addresses.

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2022-09-15 21:27:07 Decentralized Exchange (DEX) Volumes Sink to Long-Term Lows

Decentralized exchanges continue to record below-average volumes, especially in the past three months. This slump is primarily due to a significant decline in decreasing investor interest and a bearish crypto market. Decentralized exchanges, normally referred to as DEXes, have been the exchanges of choice for traders who prioritize anonymity over safety. Over the years, some decentralized exchanges have even surpassed centralized exchanges by monthly volume. The last three months have been a bit different, though, as DEX cumulative volumes have fallen below $100 billion. In August, cumulative DEX volume only reached $67 billion.

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2022-09-14 22:55:07 1INCH Flips Tether and Shiba Inu Top Ethereum Wallet Holdings

1INCH has surpassed Tether’s USDT and Shiba Inu (SHIB) in the ranks of the cryptocurrencies being held by the top 100 Ethereum wallets due to increased demand by whales. 1INCH holders received positive news on Sept. 6 when the 1inch Network announced that a total of 300,000 Optimism (OP) tokens would be distributed among its users in a move to incentive their activity on the Optimism Network. This week the token flipped USDT, the largest stablecoin by market capitalization, and SHIB, the second-largest meme-inspired digital asset in terms of top-10 Ethereum wallet holdings on Sept. 11.

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2022-09-13 22:33:20 Terra Classic (LUNC) Secures First Ever Decentralized Exchange (DEX) Listing

LUNC remains at the center of most discourses in the crypto community of late. The once-abandoned asset is getting the attention of crypto proponents and exchanges alike, especially due to its meteoric rise and recent auspicious burn proposals. In a recent highlight of events, LUNC just got listed on its first DEX, Saitama Pro.The official Saitama Twitter handle disclosed the development Thursday. The recent listing underscores the growing interest in LUNC, as its rally remains sustained, with bullish sentiments brewing. Users of the SaitaPro exchange now have the opportunity to trade the asset in-app. This gives further coverage to LUNC as more investors seek to jump on the sailing ship.

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2022-09-12 21:38:02 SushiSwap Members Rejoice as Whale Bails from Token

Arca, a crypto-focused asset manager, appears to have sold its $3.1M position in SushiSwap’s token. And many of the crypto exchange’s community members couldn’t be happier.On Aug. 30, a transaction from a wallet associated with Arca was flagged in the SushiSwap community Discord for withdrawing more than 3.1M SUSHI from staking and transferring the tokens to FTX, a centralized cryptocurrency exchange.

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2022-09-11 23:06:05 PancakeSwap Makes Fifth Attempt at Breakout Following CAKE Burn

PancakeSwap (CAKE) is trading inside a long-term bullish pattern, but it has yet to confirm that it will break out from it.CAKE has been falling underneath a descending wedge since reaching an all-time high price of $47.21 in April 2021. The downward movement has so far led to a low of $2.48 in June. The price bounced afterward, in turn validating the support line of the wedge. Moreover, the upward movement caused a breakout from the descending resistance line of the weekly RSI (black line). This is considered a sign of a bullish trend, which would be confirmed with an increase above 50.

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2022-09-10 21:29:49 Decentralized Exchange Betswap.gg Launches in Beta

Betswap.gg, the world’s first decentralized peer-to-peer betting exchange, had its official beta launch. The platform draws attention with its bold claims to shatter the monopoly of high-profile sportsbooks and empower its users. Players wishing to sample this new solution can follow the instructions on Betswap’s official website, though some prior knowledge of blockchain transactions is recommended. The team behind the crypto-based operator put substantial efforts into promoting this new venture, drawing the attention of several prominent media outlets.

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2022-09-09 21:33:57 dYdX Introduces New KYC Verification, Faces Criticism

According to a blog post, those users who complete the new verification program, would have got a $25 bonus if they deposit $500 or more. However, a few hours after the program was announced, dYdX had to terminate it, citing "extremely overwhelming demand." Although the exchange noted that participation was "completely optional," it was enough to spark an outcry in the crypto community, as some said dYdX had "nuked itself" with the latest initiative.

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2022-09-08 22:32:52 Uniswap Dex Fully Backs Ethereum PoS Upgrade, No Support For ETHPOW Forks

Crypto’s biggest decentralized exchange Uniswap announced full support for Ethereum’s transition to proof-of-stake amid rising anticipation for the watershed event. The Merge as it is known within the crypto community marks the culmination of six years worth of building and strategizing by Ethereum developers. Some crypto proponents have likened the pivotal moment in ETH’s network history to Bitcoin’s quadrennial halving, an event that happens once every four years.

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2022-09-07 20:12:01 DeFi Platform Curve Finance Takes First Steps Toward crvUSD Stablecoin

Prominent stablecoin swap application Curve Finance is nearing the launch of its native stablecoin, dubbed crvUSD, as per the initial code released by its developers on Tuesday. The code library will act as an interface to the yet-undeployed crvUSD smart contracts and mark the first step toward the eventual issuance of the much-anticipated tokens.
Details on the usage of crvUSD were scarce at writing time, and Curve developers declined to share more information about the tokens with CoinDesk.

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