Cardano’s ADA token becomes third largest cryptocurrency

Cardano ADA Token

ADA, Cardano’s native token, has surpassed stablecoin Tether to become the third largest cryptocurrency based on market cap.

According to cryptocurrency tracker CoinGecko, the ADA token now has a market cap of $64.9 billion (£47.2bn) compared to recently overtaken Tether which sits just shy at $64.6 bn (£46.9bn).

Perhaps more notably, the Cardano coin has a seven day growth rate of 20.8%, putting it leaps and bounds ahead of Tether’s 0.7% growth or top dog...

OpenSea overtakes Uniswap in Ethereum usage

NFT marketplace OpenSea is currently outshining Ethereum’s largest decentralised exchange, Uniswap, in terms of transaction fees.

Since 2020, Uniswap has typically commanded the most in daily transaction fees, a key barometer for actual usage of the world’s second-largest blockchain.

However, the emergence of NFTs earlier in 2021 began to threaten Uniswap’s top spot, with the marketplace platform now firmly ahead in Ethereum usage.

As of August 10,...

Chainalysis support extended to six DeFi-focused tokens

Analysis Software

Blockchain analysis firm Chainalysis, which was recently valued at £3.6 billion, has added advanced investigation and compliance support for six widely-used ERC-20 tokens.

Of these tokens, five belong specifically to decentralised finance (DeFi) protocols, while the remaining ‘renBTC’ is designed to allow for the permissionless transfer of Bitcoin to and from Ethereum for use in DeFi applications.

Collectively during Q2 2021, the six tokens had a combined trading...

ShapeShift to decentralise entire company, begins with record airdrop

ShapeShift, a leading global cryptocurrency management platform, has begun dismantling its corporate structure to decentralise governance to its customers through its FOX token.

The process was initiated with 340 million FOX tokens being granted to more than a million recipients, making it the largest crypto airdrop in history. Current and past ShapeShift users, KeepKey hardware wallet owners, and users of other DeFi protocols all received tokens.

ShapeShift’s decision...

Wyoming advances DeFi adoption with landmark recognition of American CrytpoFed

An American flag waving in the wind.

The State of Wyoming has legally recognised the American CryptoFed DAO, making it the first decentralised autonomous organisation (DAO) to receive legal recognition in the US.

Such recognition comes hot on the heels of Wyoming becoming the first state to pass landmark legislation that defines DAO’s as a kind of limited liability company (LLC).

Speaking on the decision, Wyoming’s Secretary of State, Edward Buchanan, reflected on the state’s history of being at the...

Assessing the rise of DeFi – and how data will drive fintech in 2021

2020 saw a notable increase in the need for and availability of fintech solutions across various industries, such as personal banking, transportation, and food service, with many apps already utilising data aggregation techniques to make one-touch purchases and payment options the new standard. Companies like Uber and Amazon use frictionless data aggregation to curate a unique user experience while realising new revenue opportunities.

The success of these and similar applications...

Charles Hoskinson, Founder, Cardano: On restoring trust through decentralisation

The Block spoke with Cardano founder Charles Hoskinson about the blockchain industry and restoring trust through decentralisation ahead of the platform’s upcoming launch of smart contracts.

Hoskinson co-founded the current decentralised app platform leader, Ethereum, but left the project following a dispute about accepting venture capital and the need for a more formal governing structure. He went on to found Cardano in 2015 and became the CEO of the project’s main developer,...