DeFI News by Thebittimes.Com

Sui joins the growing ranks of Web3 firms looking to onboard users who are all too often “irretrievably lost" at the doorstep of Web3. Layer-one blockchain Sui Network has taken a step towards simplifying Web3 onboarding, allowing users to sign up for Sui-powered apps without having to manage an external crypto wallet or seed phrase.  In a Sept. 13 press release the Sui Foundation shared that users would be able to login into decentralized applications (DApps) by using Google, Facebook, and Twitch login details via a new zkLogin (Zero Knowledge login ) feature. Instead of dealing with pesky Web3 wallets, users can log in the same way they’re used to on other areas of the internet. “By enabling users to access dApps with the social logins they have grown comfortable using, zkLogin removes a major hurdle for bringing the benefits of blockchain-based applications to billions of mainstream users,” said Sui Foundation managing director, Greg Siourounis. Onboarding has long been a p...

GMX and LOOKS price pulled off double-digit rallies in the last week as former BitMEX CEO Arthur Hayes revealed his investment thesis for both projects. In a recent blog post, cryptocurrency legend and former BitMEX CEO Arthur Hayes mentioned he holds sizable bags of GMX and LOOKS tokens. According to Hayes, his main reasoning for investing in both tokens was their platform revenue and the potential of both assets to outperform standard treasury bills.  Let’s take a brief look at on-chain data and compare GMX and LOOKS to competitors to determine whether Arthur’s assumption will work out.  GMX usage cooling after a strong November The week prior to Nov. 16 provided decentralized Finance (DeFi) with a significant influx in fees after the centralized exchange (CEX) exodus triggered by FTX’s bankruptcy. The temporary high inflows to DeFi propelled GMX to outperform Uniswap in protocol fees. On Nov. 28, GMX earned about $1.15 million in daily trading fees, which surpassed Uniswap’s $1.06...

The Ether futures premium remains negative, while options markets are pricing similar risks for bulls and bears. Source: https://thebittimes.com/ethereum-open-interest-hits-7-7b-raising-the-chance-of-a-short-squeeze-above-1-5k-tbt25689.html?utm_source=blogger_source&utm_medium=blogger_medium&utm_campaign=blogger_cam Category: Ethereum News Post by: TheBitTimes.com