Osato Avan-Nomayo

1 week ago | dlnews.com | Osato Avan-Nomayo

USDP ran up to $150 million market value before crashing. The token slumped in less than six hours. On Wednesday, USDP, a memecoin based on Solana, ran up a $150 million in market value. Within hours, it nosedived 99%, to $1.2 million. Onchain data from Dexscreener shows huge profits for a few wallets, including one trader who instantly parlayed a $300 bet into a 1,000 times return of $300,000. But several other buyers are sitting on huge losses.

1 week ago | dlnews.com | Osato Avan-Nomayo

The protocol’s share of total DeFi collateral has spiked 52% in four months. Fixed income portfolios are the new yield meta for DeFi.Pendle is becoming a major draw in DeFi amid frenzied yield derivatives trading among crypto whales; investors with millions in cryptocurrencies. TN Lee, co-founder of the DeFi yield derivatives protocol, said its $2.5 billion worth of Principal Tokens, or PTs, now account for 5% of all collateral in DeFi, a 52% growth in the last four months.

1 week ago | dlnews.com | Osato Avan-Nomayo

At least 20% of US crypto owners have suffered hacks or scams. Crypto users fear that simple mistakes could make them lose their funds. Users need simpler wallets to prevent more costly errors. North Korean hackers, kidnappers, and phishers all strike fear into the hearts of crypto holders who have lost more than $2 billion to laptop-wielding larcenists this year, but their most dreaded adversary is far less cinematic: themselves. That’s according to a survey by Kraken, a crypto exchange.

2 weeks ago | dlnews.com | Osato Avan-Nomayo

The trader is down more than 35% on a $114 million position. They bet on Ethereum’s price going down. But Ethereum has risen to its highest price since January. Ethereum just vaulted over $2,800 for the first time since January, and one Hyperliquid trader is now in a staring contest with the liquidation gods. That’s because the trader is sitting on a $114 million short, and Ethereum’s price just needs to rise by another $80 to wipe it all out.

2 weeks ago | dlnews.com | Osato Avan-Nomayo

The Assistance Fund buys back Hype tokens. Hype is up 40% in the last month. Critics say token buybacks are not sustainable in the long term. Hyperliquid’s Assistance Fund has entered 10-digit territory. The fund is designed to snap up Hype, the native token of Hyperliquid, the crypto derivatives exchange, and the project may burn the tokens in the future. The trade has amassed more than $1 billion in Hype tokens and created a major capital recycling engine for the buzzy DeFi project.