Latest news with #DeFiLlama
Yahoo
15 hours ago
- Business
- Yahoo
SUI Token Drops Nearly 6% After Brief Spike as Stronger U.S. Dollar Pressures Crypto Market
SUI, the native token of the Sui blockchain, is down nearly 6% over the past 24 hours, retreating to $4.04 after briefly jumping to $4.44 overnight. The move came on the back of a 32.37 million token volume spike, well above daily norms, before selling intensified and dragged prices lower, CoinDesk Analytics data shows. Bulls initially held the line at $4.32, but bears seized momentum as SUI slipped through key technical levels. The token closed the session at $4.11, a 5.25% drop. CoinDesk Analytics shows resistance now forming between $4.20 and $4.24, while a double-bottom appears to be developing at $4.08 to $4.09. Broader weakness in crypto markets may have added to the pressure. The CoinDesk 20 Index is down 1.4% over the past day. A nearly 1% rise in the U.S. Dollar Index today — often a headwind for risk assets like cryptocurrencies — coincided with the market-wide decline, including SUI's slide. Still, SUI is up 46% in the past month, outperforming the CD20's 33% gain. That growth tracks rising interest in the Sui ecosystem, which saw total value locked surpass $2 billion earlier this month, according to DeFiLlama. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Yahoo
6 days ago
- Business
- Yahoo
Disguised Unemployment in Blockchain? Data Shows Only 12% of Ethereum, 25% of Solana Protocols Have Revenue
Have you heard of disguised unemployment? It refers to a situation where a portion of the workforce appears to be employed, but isn't contributing to the economy's output. Consider the massive capital expenditure loss from ghost cities, which represent unoccupied infrastructure. Something similar can be said for the top smart contract blockchains, which hosts hundreds of decentralized protocols. Of these, only a minority are generating revenue, while the rest produce no yield, loosely representing ghost digital cities and a form of disguised unemployment. According to DeFiLlama, Ethereum is the world's largest smart contract blockchain, hosting 1,271 protocols. Yet over the past 30 days, a staggering 88%, or 1,121 projects in total, generated no revenue. Ethereum's rival, Solana, has a much smaller ecosystem, hosting 264 protocols, of which 75% have not generated revenue in the past few days. In other words, a large number of protocols on the two chains haven't captured any value lately, much like the workforce that draws a salary but does not contribute to the output, or ghost towns that are not being utilized to generate a meaningful economic return. Key AI insights Inactive projects are not necessarily a direct burden on the network's processing power in the same way that a congested network is, but they do pose an indirect burden in the following ways: Storage Burden Every smart contract, active or not, is stored on the blockchain forever. This immutable data adds to the size of the blockchain, and all nodes in the network must store and maintain this history. As the total number of contracts grows, so do the storage and bandwidth requirements for running a node. While the effect of a single inactive contract is minimal, a "ghost town" of thousands of them adds up over time, increasing the network's long-term operational costs. Security and Vulnerability Risks The existence of a vast number of inactive or abandoned contracts creates a larger attack surface. A smart contract, even if it's no longer used, can contain a vulnerability that, if exploited, could have unforeseen consequences for other parts of the ecosystem or funds locked within it. This introduces a layer of systemic risk to the network that must be continually monitored by security researchers and auditors. Economic Inefficiency This is where the "disguised unemployment" analogy is most apt. While these projects aren't causing congestion, they represent a collective failure of capital and developer time to create a productive asset on the network. The funds, time, and effort spent to deploy these projects are effectively locked in a non-productive state, which is a drag on the overall efficiency of the ecosystem. Just as a physical ghost city represents a massive investment of capital and labour that yields no economic return, the multitude of non-revenue-generating protocols on blockchains represents wasted developer effort and capital that does not contribute to the network's productivity. Hindrance to User Experience A large number of inactive projects can make it difficult for new users to find and trust legitimate, active protocols. Sifting through a sea of defunct or failed projects can be confusing and might detract from the overall user in to access your portfolio
Yahoo
21-07-2025
- Business
- Yahoo
Avalanche's AVAX ‘Breakout Finally Happened' After 30% Monthly Price Jump
Avalanche's AVAX token rallied 30% in the past month, showing strong momentum and outperforming bitcoin (BTC), which rose around 13.4% over the same period. In the last 24-hour period, AVAX's price dipped around 0.5% to $23.63, but moving the timeline to 30 days shows a major 30.3% rise, slightly outperforming the wider crypto market as measured by the CoinDesk 20 (CD20) index, which rose 30.1%. During the rise, AVAX's volatility was accompanied by above-average volume, according to CoinDesk Research's technical analysis model. This kind of price action, where buyers step in quickly at key levels, suggests a growing confidence among traders. The token has recently exited a multi-month descending channel, a technical pattern many traders interpret as a bullish reversal. Some market analysts, including OKX-partnered trader Ted Pillows, have floated $32 to $35 as a possible short-term target, citing improved sentiment and chart structure. Per Pillows, the 'AVAX breakout has finally happened.' AVAX's steady climb also comes amid a broader rebound in decentralized finance (DeFi) activity. Total value locked on its protocols, measured in AVAX, has risen from 37 million tokens in early 2025 to around 76.4 million, according to DeFiLlama data. Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.
Yahoo
12-07-2025
- Business
- Yahoo
Pump.fun swiftly raises $500M in public sale at $4B fully diluted valuation
Twelve minutes. That's how long it took for token offering to raise roughly $500 million from retail investors across various exchanges, including Bybit, Kraken, and KuCoin. The sale priced 125 billion tokens at $0.004 apiece, implying a $4 billion fully diluted valuation for the Solana-based memecoin launcher's new utility token. For now, holders must wait to get their hands on the token they bought. said the purchased tokens will land in wallets over the next 48–72 hours and will stay locked until distribution ends, blocking trades or transfers. The team shared the official Solana contract address and warned users to shun look-alike assets. In total, ICO was set to sell 33% of PUMP's 1 trillion token supply, with 18% having already been allocated earlier via a private sale. The public allocation was recently lowered from 15% to 12.5%, which sold out in just 12 minutes. Its other allocations include 20% for the team behind the project, 24% for community and ecosystem incentives, 13% for existing investors, 2.6% for liquidity, 2.4% for an ecosystem fund, with the remaining for a foundation fund and live streaming incentives. allows anyone to mint and list a coin with a new token in a few clicks. When a freshly minted token reaches a specific threshold, it gets listed on decentralized exchanges. The sale comes as the token launchpad's metrics show a deepening decline in activity. DeFiLlama data shows that in January launchpad volume was above $11.6 billion, and has since been steadily declining to $3.65 billion last month. Similarly, revenue generated via the launchpad dropped from $133 million in the first month of the year to nearly $34 million last month, according to DeFiLlama data. While launchpad volumes plunged, decentralized exchange PumpSwap, which was launched in March, has been making up for the decline, seeing $14.3 billion of volume in May and $10 billion last month. Revenue for PumpSwap stood at $7 and $5 million for those months, per the same data source. Adds more context throughout. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
09-07-2025
- Business
- Yahoo
BNB Climbs as Faster Blocks and Tokenized Stocks Spark Investor Interest
BNB Chain's native token, BNB, is pushing higher as technical upgrades and fresh use cases draw investors into the network. The token climbed about 0.6% over the last 24 hours, riding a wave of heavy trading volumes and optimism tied to plans for tokenized stock offerings. Late last month, BNB Chain launched its so-called Maxwell hard fork, slicing block times from roughly 1.5 seconds to 0.75 seconds. That means transactions clear twice as fast, a move that could help the chain handle surges in activity. BNB Chain, which has around $6 billion in total value locked according to DeFiLlama data, is positioning itself as a faster alternative for decentralized apps handling high throughput. Earlier, Kraken and Backed Finance announced they are bringing their tokenized equities to the BNB Chain, allowing users to trade stocks like that of Apple or Tesla around the clock. The products, structured as BEP-20 tokens, will be available outside the United States in 185 markets. The CoinDesk 20 index has witnessed a 2.7% increase in the past 24 hours, as the cryptocurrency market appears to have weathered the impact of the recently announced tariffs by U.S. President Donald Trump, which are scheduled to take effect on August 1. Despite the bullish backdrop, BNB hit resistance near $664.20 during early trading today, according to CoinDesk Research's technical analysis model. While some traders eye potential signs of accumulation, meaning larger investors could be quietly building positions, a late-session pullback to around $661.75 hints some traders may be locking in profits. BNB's next test will be whether it can push beyond the $665-$667 zone. That could determine if recent technical gains translate into sustained momentum, or if sellers step in again to keep prices in check.
