DeFi Updates


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💰 Bitcoin could be one upgrade away from overtaking Ethereum DeFi

A single, long-dormant string of code, hidden deep within the original Bitcoin stack, can introduce a suite of new functionality that could potentially see the Bitcoin network rival Ethereum in terms of decentralized finance (DeFi) activity. The upgrade is called “OP_CAT” (short for operation code concatenate) and refers to a few simple lines of code originally introduced by Satoshi Nakamoto.

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@DeFi_Updates


📣 Defi Nears $100 Billion Milestone as Crypto Market Heats Up

As of 11 a.m. Eastern Time (ET) on Thursday, the total value locked (TVL) in defi is resting at $94.491 billion, just $5.509 billion shy of that significant $100 billion target. Leading the defi scene are the top three protocols: Lido with $27.507 billion, Aave holding $14.964 billion, and Eigenlayer managing $11.906 billion. Each of these protocols saw double-digit growth over the past month.

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@DeFi_Updates


📣 Spotex hires DeFi expert Leo Hmelnitsky as CSO Digital Assets

FX and digital assets tech and liquidity solutions provider Spotex LLC has announced the appointment of Leo Hmelnitsky as Chief Strategy Officer, Digital Assets. In his new role, Leo will be based in San Francisco reporting to Spotex CEO, John Miesner.

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@DeFi_Updates


💰 Internet Computer cross-chain protocol usage up 13x amid Bitcoin DeFi boom

Internet Computer’s cross-chain messaging protocol, Chain Fusion, has seen usage spike 1,230% year-over-year, largely from Bitcoin-native applications, according to a Nov. 4 report by developer The Dfinity Foundation. Bitcoin apps, including Rainbow Protocol, Tap Protocol and Bitfinity, are using Internet Computer to deploy smart contracts and other complex programs on the Bitcoin network, Dfinity said.

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📊 Curve Finance, TON drive DeFi evolution with partnerships

The year of decentralized finance (DeFi) on The Open Network (TON) blockchain will be 2025, developer TON Foundation declared. Decentralized exchange Curve Finance joined in to start the process, and TON and Curve held a competition for DeFi teams to develop stable asset swaps using Curve Finance’s proprietary technology.

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💰 Solana DeFi Momentum Soars With $5.7 Billion Locked In Q3

Solana continues to prove that it’s one of the top blockchains for this cycle. After its rally, which gained 35% over the past 60 days, the popular Layer 1 blockchain is back in the news with more on-chain activities. According to recent data, Solana’s DeFi Total Value Locked or TVL increased to $5.7 billion in the third quarter, reflecting a 26% improvement from the previous quarter.

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✖️ DeFi to Have ‘Walled Garden’ Moment as Internet of Money Matures: dYdX’s D’Haussy

Regulations and increasing demand for consolidated products could propel growth in the niche decentralized finance sector (DeFi), one that's stuck in a market lull in the past year but could have its “internet” moment as retail offerings grow. That's the view held by Charles D’Haussy, CEO of the dYdX foundation, which supports the development of the onchain perpetual trading protocol dYdX – one of the first such platforms that currently boasts $266 million in locked value, according to DeFi Llama data, and has a $674 million market capitalization by token value.

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🪙 Tron’s DeFi ecosystem set for a boost with Chainlink collaboration

Tron founder Justin Sun said the blockchain’s integration of Chainlink would present significant opportunities for the two networks to grow in the stablecoin and real-world asset sector. Through the Chainlink Scale Program, Tron aims to expand its ecosystem by leveraging Chainlink’s reliable Oracle services.

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@DeFi_Updates


📣 DeFi TVL surpasses $90b for the first time in 3 months

According to data provided by DeFi Llama, the total DeFi TVL is currently sitting at $90.23 billion with a trading volume of $7.13 billion. The surge comes as the leading five protocols register gains. Lido, the leading liquid staking platform, saw its TVL rise by 0.4% in the past 24 hours, reaching $25.8 billion. It generated a revenue of $6.74 million—with $67.4 million in fees—over the past month.

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@DeFi_Updates


✖️ dYdX Cuts Workforce by 35% Amidst DeFi Struggles: CEO’s Vision for Revitalization

Decentralized exchange dYdX has undergone a major reorg this week, cutting 35% of the team. CEO Antonio Juliano, who just returned after a 6 month break, posted on X (formerly Twitter) with a reflective post titled “Letting Go”.

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@DeFi_Updates


🏦 Kraken expands into DeFi with new blockchain set for 2025

Kraken, a prominent cryptocurrency exchange, is set to unveil its new blockchain platform, Ink, in early 2025. The initiative marks a strategic shift towards decentralised finance (DeFi), empowering users to trade, borrow, and lend assets without intermediaries, a departure from Kraken’s traditional centralised operations. Ink aims to streamline DeFi access, making it more user-friendly and cost-effective.

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@DeFi_Updates


💰 1inch, Bruce Lee family launch ‘seriousLee’ DeFi campaign

1inch, a decentralized finance (DeFi) platform, has partnered with the Bruce Lee Family Company to promote DeFi adoption through the “Take crypto seriousLee” campaign. The collaboration aims to achieve improved adoption in DeFi through Bruce Lee’s legacy while highlighting the shared values between 1inch’s technology and Lee’s philosophy.

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@DeFi_Updates


💰 Bitcoin Project BOB Maps Out How the Original Blockchain Could Take Over DeFi

The developers behind BOB, a build-on-Bitcoin project, released a new "vision paper" Thursday outlining a design for a "hybrid layer-2" network they say could help to position Bitcoin – the oldest and largest blockchain – as the new foundation for decentralized finance (DeFi).

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📣 Winklevoss-backed DeFi platform launches after $6.9M investment round

Azura, a new all-in-one crypto application aggregation layer, has launched with support from some of the most notable crypto founders. Azura, which brands itself as an onchain interfacing layer, launched on Oct. 22, aims to lower the entry barrier for new investors and enable them to trade any asset via decentralized finance (DeFi) applications.

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@DeFi_Updates


💰 Bitcoin Staking Protocol Solv Integrates Liquid BTC With Solana’s Defi Ecosystem

The Solv Protocol has announced the integration of Liquid Bitcoin (LST) into Solana’s decentralized finance (Defi) ecosystem through its new product, Solvbtc.JUP. This initiative allows Bitcoin holders to participate in yield generation by depositing BTC or Wrapped BTC to mint Solvbtc, which can then be converted into Solvbtc.JUP, representing staked Bitcoin that accrues yield over time. The integration leverages the Jupiter Exchange, a decentralized platform on Solana, enabling users to earn BTC-denominated returns without sacrificing liquidity.

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@DeFi_Updates


🇺🇸 DeFi can complement centralized financial systems, says Federal Reserve's Christopher Waller

Decentralized finance can complement centralized financial sectors, but won't serve as a replacement, said Federal Reserve Governor Christopher Waller. Technological progress can "drive efficiency gains in finance," Waller said on Friday at the 19th Annual Vienna Macroeconomics Workshop in Vienna, Austria. DeFi won't replace centralized finance, in part because intermediation is still needed, Waller said.

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@DeFi_Updates


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🚨 DeFi Lending Platform Radiant Capital Suffers $50M Exploit

Radiant Capital was hacked on Wednesday, resulting in losses exceeding $50 million. Several blockchain security firms have reported that the exploit occurred due to an apparent cyberattack targeting the platform’s smart contracts on both the Binance and Arbitrum networks. The incident was first detected by blockchain security firm Ancilia Inc., which reported suspicious activity on a Radiant Capital smart contract on the BNB Chain at 1:35 PM ET in an X post.

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@DeFi_Updates


📣 Nansen ‘Beyond DeFi’ report highlights $3.2B market for AI services

AI and the emerging “NodeFi” market may become the most active verticals in the decentralized finance sector, according to a report by Ethereum blockchain analytics platform Nansen and lending protocol MetaStreet. The report, published on Oct. 14, makes the case that cryptocurrency markets are “evolving beyond their initial focus on ERC-20 tokens and DeFi,” and that these dominant technologies will eventually plateau.

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@DeFi_Updates


📣 Donald Trump Reveals Defi Project's Token Launch

On Saturday, former President Donald Trump announced that the World Liberty Financial (WLF) token sale will kick off on Tuesday, Oct. 15. In his post on X, Trump described it as a “chance to help shape the future of finance.” He also noted that an X Spaces discussion about the token launch will be aired on Oct. 14.

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@DeFi_Updates

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