Since the cryptocurrency launched ethereumpow (ETHW) has seen spot market prices decline by close to 12% during the last seven days. Despite the fact that during the last two weeks ETHW has shed 35% in USD value, the network’s token economy and decentralized finance (defi) ecosystem has swelled.
Ethereumpow (ETHW) markets haven’t been so hot in recent times and since the crypto asset’s value was recorded before the mainnet went live, ETHW is down roughly 88% from the all-time high recorded two months ago on September 3, 2022.
During the last two weeks against the U.S. dollar, ethereumpow (ETHW) has shed around 35% in value. On Tuesday, October 18, 2022, the crypto asset has been exchanging hands for $6.94 to $7.34 per unit during the last 24 hours.
Furthermore, after capturing close to 70 terahash per second (TH/s) of hashrate, ETHW’s total hashpower worldwide is down to 37.66 TH/s. While the network’s native crypto asset ETHW has performed poorly market-wise in recent times, ETHW’s total value locked (TVL) in defi has skyrocketed.
Statistics from defillama.com indicate that ETHW’s TVL is around $3.69 million after records show on September 24, that the TVL was $283,153. This means that since September 24, or over the last 24 days, ETHW’s TVL in defi increased in value by 1,209%.
Defillama.com stats indicate that there’s roughly 13 different ETHW defi protocols dedicated to the network. The decentralized exchange (dex) Uniwswap, not to be confused with Uniswap, is the largest defi protocol on ETHW today with 52.13% dominance of the current $3.69 million.
The dex platform has around $1.92 million according to data recorded on October 18. The second-largest ETHW defi-related protocol Lfgswap has around $1,404,733 in value locked. This means that Uniwswap and Lfgswap dominate most of ETHW’s defi ecosystem in terms of TVL.
ETHW has roughly a dozen tokens with the entire ETHW token ecosystem (including ETHW) valued at roughly $800 million. The ETHW protocol is number 83 in terms of positions held by TVL in defi today, while Ethereum Classic (ETC) network is around 119 today. ETC’s defi ecosystem is much smaller than ETHW’s, in terms of TVL size, as defillama.com metrics show Ethereum Classic’s TVL today is $537,243 among five different defi protocols.
Most of the ETC TVL is held between two defi protocols on that leverage the Ethereum Classic chain which include Hebeswap and Etcswap. ETC’s value compared to ETHW’s is a lot larger and the asset’s $3.24 billion market cap is also colossal compared to the newly introduced crypto asset.
What do you think about ETHW’s recent spot market action and the network’s defi TVL increasing during the last few weeks? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.
Since the cryptocurrency launched ethereumpow (ETHW) has seen spot market prices decline by close to 12% during the last seven days. Despite the fact that during the last two weeks ETHW has shed 35% in USD value, the network’s token economy and decentralized finance (defi) ecosystem has swelled.
Ethereumpow (ETHW) markets haven’t been so hot in recent times and since the crypto asset’s value was recorded before the mainnet went live, ETHW is down roughly 88% from the all-time high recorded two months ago on September 3, 2022.
During the last two weeks against the U.S. dollar, ethereumpow (ETHW) has shed around 35% in value. On Tuesday, October 18, 2022, the crypto asset has been exchanging hands for $6.94 to $7.34 per unit during the last 24 hours.
Furthermore, after capturing close to 70 terahash per second (TH/s) of hashrate, ETHW’s total hashpower worldwide is down to 37.66 TH/s. While the network’s native crypto asset ETHW has performed poorly market-wise in recent times, ETHW’s total value locked (TVL) in defi has skyrocketed.
Statistics from defillama.com indicate that ETHW’s TVL is around $3.69 million after records show on September 24, that the TVL was $283,153. This means that since September 24, or over the last 24 days, ETHW’s TVL in defi increased in value by 1,209%.
Defillama.com stats indicate that there’s roughly 13 different ETHW defi protocols dedicated to the network. The decentralized exchange (dex) Uniwswap, not to be confused with Uniswap, is the largest defi protocol on ETHW today with 52.13% dominance of the current $3.69 million.
The dex platform has around $1.92 million according to data recorded on October 18. The second-largest ETHW defi-related protocol Lfgswap has around $1,404,733 in value locked. This means that Uniwswap and Lfgswap dominate most of ETHW’s defi ecosystem in terms of TVL.
ETHW has roughly a dozen tokens with the entire ETHW token ecosystem (including ETHW) valued at roughly $800 million. The ETHW protocol is number 83 in terms of positions held by TVL in defi today, while Ethereum Classic (ETC) network is around 119 today. ETC’s defi ecosystem is much smaller than ETHW’s, in terms of TVL size, as defillama.com metrics show Ethereum Classic’s TVL today is $537,243 among five different defi protocols.
Most of the ETC TVL is held between two defi protocols on that leverage the Ethereum Classic chain which include Hebeswap and Etcswap. ETC’s value compared to ETHW’s is a lot larger and the asset’s $3.24 billion market cap is also colossal compared to the newly introduced crypto asset.
What do you think about ETHW’s recent spot market action and the network’s defi TVL increasing during the last few weeks? Let us know what you think about this subject in the comments section below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year
The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.
After a turbulent summer, the “Crypto Winter” has begun, as volatility in the market remains rife, with prices of tokens fluctuating on a daily basis.
Recent moves have seen bitcoin (BTC) move below $20,000, with ethereum (ETH) dropping under $1,200 as market sentiment has shifted.
This shift has come as a result of the rise in consumer prices, with global inflation currently tracking at its highest level in several decades.
Central banks have moved to tackle the crisis by increasing interest rates, which has then impacted investors, and their appetite for risk.
As it may be difficult to sometimes understand these fundamentals, we at Bitcoin.com News also focus on Technical Analysis, exploring the charts, and daily price movements.
In order to continue to keep up to date with the latest goings-on in the space, with in-depth analysis on a variety of tokens, we invite you to subscribe to our weekly newsletter.
With nearly 1,500 subscribers, we explore the biggest market movers, and anticipate potential price action, based on an array of technical trading tools.
Register your email here to get weekly price analysis updates sent to your inbox:
Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Oman to Incorporate Real Estate Tokenization in Virtual Assets Regulatory Framework
Real estate tokenization is set to be incorporated into Oman Capital Markets Authority (OCMA)'s virtual asset regulatory framework. According to an advisor with the authority, the tokenizing of real estate will open investment opportunities for local and foreign investors. Real ... read more.
After a turbulent summer, the “Crypto Winter” has begun, as volatility in the market remains rife, with prices of tokens fluctuating on a daily basis.
Recent moves have seen bitcoin (BTC) move below $20,000, with ethereum (ETH) dropping under $1,200 as market sentiment has shifted.
This shift has come as a result of the rise in consumer prices, with global inflation currently tracking at its highest level in several decades.
Central banks have moved to tackle the crisis by increasing interest rates, which has then impacted investors, and their appetite for risk.
As it may be difficult to sometimes understand these fundamentals, we at Bitcoin.com News also focus on Technical Analysis, exploring the charts, and daily price movements.
In order to continue to keep up to date with the latest goings-on in the space, with in-depth analysis on a variety of tokens, we invite you to subscribe to our weekly newsletter.
With nearly 1,500 subscribers, we explore the biggest market movers, and anticipate potential price action, based on an array of technical trading tools.
Register your email here to get weekly price analysis updates sent to your inbox:
Eliman brings an eclectic point of view to market analysis, he was previously a brokerage director and retail trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX.
Image Credits: Shutterstock, Pixabay, Wiki Commons
SEC Risks Violating Admin Procedure Act by Rejecting Spot Bitcoin ETFs, Says Grayscale
Grayscale Investments' CEO explains that the U.S. Securities and Exchange Commission (SEC) could potentially violate the Administrative Procedure Act by not approving a spot bitcoin exchange-traded fund (ETF). SEC Approving Spot Bitcoin ETF Is 'a Matter of When and Not ... read more.
PRESS RELEASE. Digital currency made splashes in the 2010s with a promise of decentralization and ultimate user privacy. However, most well-known crypto exchange giants, like Binance or Coinbase, are CEXs by essence. It means they are centralized exchange platforms, offering custodial wallets to users and collecting user data. No privacy, no user control, and no genuine decentralization – that’s what the CEX use is.
Luckily, by the end of the 2010s, crypto enthusiasts moved further with the idea of introducing the automated market-making (AMM) functionality that would remove the need for a centralized authority out of the exchange process. The idea was proposed by Vitalik Buterin and found its realization first in Bancor (early 2018) and then in Uniswap – a DEX released in late 2018.
Today, over 300 decentralized exchanges are online, each offering peer-to-peer exchange opportunities using the smart contract functionality. DEXs quickly rose in popularity, reaching over $1 trillion in trading volume in 2021 – an 858% increase compared to the 2020 stats. Despite the rising number of DEX projects, Uniswap remains the indisputable leader in the decentralized finance market, enjoying 75% of the total trading volume (as of late 2021). Its latest version, Uniswap V3, launched in 2021, introduced many exciting features and increased capital efficiency 4,000x, making its cryptocurrency liquidity pool one of the most stable and reliable in the DEX space.
What Is TheTrade?
TheTrade is a project that will expand the liquidity potential of Uniswap v3 and its functionality by providing users with spot limit orders and margin trading on beta launch. This way, TheTrade’s users enjoy the combined advantages of Uniswap V3’s massive liquidity and additional functionality.
The project is undergoing the seed round and intelligent contract audit in Q4 2022, with the initial set of available features limited to margin trading and limit orders. The roadmap for 2023 includes the following:
What Are the Benefits of TheTrade?
Using the features of TheTrade.org for trading is an entirely different experience from what you used to have at CEXs like Binance or a variety of DEXs. The cons of DEXs are low liquidity and a high risk of price slippage. The downsides of CEXs are centralization, high limit, and market order fees.
TheTrade has considered all these problems and offered a different offering. Here you enjoy:
These features are unique to existing DEXs, as none of them combines this toolkit under one roof. Even Uniswap V3, a well-known leader in the DEX niche, doesn’t feature limit orders, which means that users can only complete transactions based on the currently offered price.
How Does It Work?
Now let’s see how everything works on TheTrade. The beta version will be available in the first quarter of 2023 and supports two main functions – spot limit orders and margin trading. Users can use them as follows:
If a user wants to buy an asset at a specific price (lower than the current market price), you place a limit order in the system. For example, a user wants to buy 1 ETH for $1100 while it sells for $1250. So a user places an order for $1,100 and sends money to the liquidity pool. The money stays there and adds to the system’s liquidity until a user cancels the order or the price reaches the range you specify. After the transaction is completed, the user receives the purchased asset plus a commission for the participation of their money in ensuring liquidity (calculated according to a transparent formula). Spot limit trading on TheTrade also uses a new role – the executor. Each user can earn additional income by executing orders as an executor.
Users are leveraged from TheTrade’s liquidity pools. Each margin limit order works according to the same mechanics as a spot limit order on TheTrade, so each user will receive a reward for providing liquidity to the Uniswap v3 pool (depending on the pool: from 0.01%; to 1%). Also, margin trading on TheTrade uses two new roles – executor and liquidator. Each user can earn additional income by executing orders as an executor or liquidator.
Embrace the DEX Potential with The Trade
TheTrade is a real game-changer in the world of crypto trading. Counter to the traditional exchanges where users pay fees for transactions, TheTrade rewards users with a fee for their limit orders. It’s no magic or scam; it’s the way the system can reward users for adding liquidity to a pool for the time they’re waiting for their limit order to be filled.
Thus, TheTrade’s unique benefits are end-to-end protection from price slippage, sandwich attacks or manipulation typical for many DEXs, and full transparency of your activities.
TheTrade does not use external resources to execute a limit order, as competitors do, and therefore does not pay commissions to external resources for their services. On the contrary, TheTrade has introduced new roles for its community, with which users have an additional opportunity to earn money. In addition, it means that TheTrade’s cash flow remains within the community. Also, implementing their order execution solution brings a more decentralized approach to DEX limit orders.
Enjoy trading on flexible terms and never pay extra – that’s possible with TheTrade.
For more information check out the website or follow the social media channels.
Website: https://thetrade.org/
Twitter: https://twitter.com/thetradeorg
Telegram: https://t.me/thetradepro
LinkedIn: https://www.linkedin.com/company/thetrade/?viewAsMember=true
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
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Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.
Source From : News