Ethereum-based derivatives liquidity protocol Synthetix has begun to pivot from Arbitrum to Base by setting perps trading on the latter network to close-only mode, according to a Jan. 8. blog post . As Synthetix shutters perpetuals trading on Arbitrum, traders can no longer open new positions or increase existing ones. However, existing open positions will not be affected, and traders can reduce or close them at any time. Traders can also migrate their trading to Base as all Arbitrum markets are available there. The move is part of a strategic effort to position the platform at the forefront of decentralized finance (DeFi). It has acquired Kwenta and TLX, two derivatives trading platforms that align with this plan. Synthetix, which was founded in 2017 by Kain Warwick, has a total value locked (TVL) of $210 million in its V3. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
2025-01-11 00:02
Crypto asset manager Grayscale listed several of the top 20 cryptocurrencies by market cap, including BNB, Dogecoin and Tron, among the 39 digital assets it is considering including in its product suite, according to a Jan. 9 report . The list is divided into five categories: Currencies, smart contract platforms, financials, consumer and culture, and utilities and services. The Utilities and Services, and Financial categories had the most entries with 15 and 10 assets, while currencies had the least with just one entry. Grayscale’s list features the three top tokens in the fast-growing AI Agent category: Artificial Superintelligence Alliance, Virtuals Protocol, and AI16Z. These tokens have market caps of $3.4 billion, $3.1 billion, and $1.5 billion, respectively. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
2025-01-10 23:44
President-elect Donald Trump has turned to Bitcoin Ordinals for his fifth batch of digital trading cards. The latest collection is called Trump Bitcoin Digital Trading Cards. The collection launched with 160 cards, only available to owners of 100 NFT cards from the previous “Mugshot Edition” collection. Buyers of 47 of those cards received a physical card with a swatch of the suit Trump wore when his mugshot was taken after being arrested in Georgia. The Trump Bitcoin Digital Trading Cards launched on Jan. 9 and can be claimed through Jan. 31. The full collection will eventually consist of 200 cards. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io
2025-01-10 23:41
Synthetix to Pivot V3 Perps From Arbitrum to Base
