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…

JPMorgan’s Blockchain Offshoot Kadena Gets First Ever Token Listing

Bittrex Global, one of the world’s most popular platforms for trading cryptocurrencies, is about to become the first crypto exchange to list a token by JPMorgan’s blockchain spin-off Kadena. Kadena token (KDA), is finally getting its first official listing on June 25. While token deposits on KDA wallets on Bittrex are available immediately, the trading is set to open on June 26 at 10:00 a.m. EST. At the initial launch, KDA will be trading against two cryptocurrencies — Bitcoin (BTC) and major USD stablecoin, Tether (USDT). Trading on Bittrex Global…

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…

Each FC Barcelona Fan Token Changed Hands Twice 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…

Plus Token Money Launderers Stopped Short by Congestion

Funds from the infamous Chinese-based PlusToken ponzi scheme are moving once again, but they’re being blocked by Ethereum’s block congestion. According to Whale Alert, funds from a known PlusToken Ether (ETH) stash were seen moving to a fresh address. The fraudsters transferred 789,500 ETH, worth about $186 million, in what appears to be an effort to launder their funds. The incoming wallet has since signed more than 50 transactions to split the funds across dozens of wallets, but only one of those appears to have been confirmed. The remaining transactions…