Possible Yearn rival Convex Finance passes $1 billion in total value locked

While much of the market reels from a devastating pullback that has dragged DeFi’s closely-watched total value locked (TVL) figure down from all time highs, one protocol is shrugging off the macro weight and surging up the TVL leaderboard.  Ethereum-based Convex Finance ($CVX) cracked a billion dollars in TVL earlier today, rising as high as $1.14 billion and briefly cracking the top-20 by size, per DeFilama. 2 weeks, 3 commas. $1,000,000,000+ TVL pic.twitter.com/NDOVabZB11 — Convex Finance (@ConvexFinance) June 1, 2021 Convex team lead “c2tp” told Cointelegraph in an interview that…

Polkadot ETP hits Swedish stock market

The mainstream financial world has taken notable strides to incorporate various crypto assets. A new exchange-traded product (ETP) for Polkadot (DOT) recently surfaced on a mainstream exchange in Sweden.  The Nordic Growth Market now hosts buying and selling for the DOT ETP, officially labeled as the “VALOUR POLKADOT (DOT) SEK,” according to a public statement provided to Cointelegraph. The ETP is a product of Valour, a company that produces digital asset-based ETPs. The product went live on the exchange on Monday. A company called DeFi Technologies is Valour’s parent company.…

Coinbase Pro Will Begin Trading Dogecoin On Thursday

Key Takeaways Coinbase Pro is planning to initiate Dogecoin trading on June 3. Dogecoin deposits are open starting today (June 1). Coinbase will open Dogecoin trading on its retail platform, Coinbase.com, at a later date not yet announced. Share this article Coinbase Pro will initiate Dogecoin trading on June 3, as revealed in a new blog post from the cryptocurrency exchange. Trading Begins in Two Days Coinbase says that it will enable Dogecoin trading on June 3 at 9:00 a.m. PST, assuming that liqudity is sufficient. Users can also deposit…

Memecoin DOGE set for listing on Coinbase Pro

Coinbase Pro, the professional trading arm of the Coinbase cryptocurrency exchange, has begun accepting inbound transfers for Dogecoin (DOGE), setting the stage for wider adoption of the meme-based digital asset.  Trading of DOGE will go live on Coinbase Pro Thursday at 9:00 a.m. Pacific Time, provided that liquidity conditions are met, the exchange announced Tuesday afternoon. Starting today, inbound transfers for DOGE are now available in the regions where trading is supported. Traders cannot place orders and no orders will be filled. Trading will begin on or after 9AM PT…

Dogecoin Music Festival Gets Backing From Elon Musk

Share this article The Dogecoin community has proposed a DOGE-themed music festival to celebrate the cryptocurrency’s recent success. Dogepalooza Is On the Way The festival is being coordinated under the name Dogepalooza, and it is seeking out vendors, volunteers, and sponsors. The Dogecoin userbase is inviting crypto-friendly celebrities to participate in the festival, including Tesla and SpaceX CEO Elon Musk, musician Grimes, rapper Snoop Dogg, and entrepreneur Mark Cuban. All of those celebrities have previously expressed support for Dogecoin or cryptocurrency in general. So far, only Elon Musk has responded…

‘Sidequests,’ sponsorships, and e-sports as DeFi protocols ponder user acquisition

One of the most intractable problems in DeFi may be facing a ecosystem-wide effort as a growing number of protocols are beginning to get creative with their advertising and outreach efforts.  Automated market maker Uniswap announced today a collaboration with esports group Team Secret. Funded by the Uniswap Grants Program, Uniswap will become an official sponsor of the team in exchange for $112,500. In an announcement blog post, Team Secret said that they will be “developing exclusive content and esports activations” for the Uniswap community, as well as help Uniswap…

Privacy blockchain Dusk establishes $5 million grant program

The crypto space has grown significantly in recent years, with various projects harnessing different blockchains for their solutions. Dusk Network, a blockchain focused on privacy, now offers projects the opportunity to apply for funding for Dusk-related endeavors.  “The Dusk Grants Program seeks to engage (independent) projects, developers, researchers, academics, or community organizers that want to accelerate the growth and accessibility of the Dusk Network blockchain platform,” Dusk said in a public statement on Tuesday. “The program is open to anyone and everyone, though applications need to be relevant to Dusk…

Bitcoin Could Crash Further, Says JP Morgan

Key Takeaways A JP Morgan analyst says that Bitcoin’s fair value is between $24,000 and $36,000 following the recent market correction and cooling interest in the asset. The note says that rising volatility is to blame for the recent loss of interest from institutions. JP Morgan will soon join the likes of Morgan Stanley and Goldman Sachs to start offering Bitcoin products to rich clients. Share this article May 2021 was Bitcoin’s worst-performing month since 2011, but an analyst from American bank JP Morgan believes the asset could trend lower…

Forbes should be ‘under US ownership’

Blockchain holding group Borderless Services Inc. made headlines in late April amid reports that it had placed a $700 million bid to acquire business news publisher Forbes Media LLC. In an interview with Cointelegraph, CEO Patrick McConlogue shed light on the acquisition target and why it aligns with the organization’s overall vision.  “Acquiring any company is a long process, and there are a lot of moving parts,” McConlogue wrote in an email, adding: “We are excited to participate either as owners, partners, or combined force with the other bidders. Collectively…