DeFI News by Thebittimes.Com

El Salvador has made a significant shift in its fiscal approach, with President Nayib Bukele announcing that the country will no longer rely on external debt to fund its budget. Since Bukele’s administration began, El Salvador has integrated Bitcoin into its economic system, becoming the first nation to officially adopt cryptocurrency as legal tender. Meanwhile, crypto analysts have shown optimism on Bitcoin’s weekly chart, highlighting a bullish consolidation pattern that could lead to the next market surge. He also points out several upcoming events that may contribute to driving this potential rise in the market. Hence, investors are searching for affordable tokens, particularly the best cheap crypto to buy now under 1 dollar . 5 Best Altcoins to Buy Now  Worldcoin (WLD) has experienced steady growth, increasing for three consecutive days after expanding its services to new countries. ThorChain, a decentralized cross-chain protocol, has recently gained attention d...

The recent turbulence in Bitcoin’s price has created a wave of uncertainty and opportunity in the market. Bitcoin recently oscillated between the high forties and nearly $60,000, causing both anxiety and hope among investors. Insights from Rob Nelson and John Divine reveal that deeper factors, including political dynamics, influence these fluctuations. This has intensified the political debate surrounding cryptocurrency, further complicating the market landscape. As political divides continue to shape Bitcoin’s trajectory, the market remains highly reactive and complex.   Biggest Crypto Gainers Today – Top List Amidst all these, today’s crypto market highlights are compelling. Klaytn surged by 14.26%, thanks to its transformative merger into the Kaia mainnet, which significantly boosts its potential. Similarly, THORChain saw an 8.90% increase, driven by the promising news of a potential integration with OKX, enhancing its market presence. UMA rose by 6.74...

Developers of THORChain have unveiled a community proposal to burn around $300 million worth of RUNE tokens to boost lending activity. In a community proposal published on Jan. 30, the THORChain developers suggested burning 60 million RUNE tokens (worth around $300 million as of press time) from the Standby Reserve fund, representing a 12% of the max supply of RUNE. The move, according to the initiative’s description, is set to make room for more loans on THORChain. “By burning ~$300 million in RUNE from standby, it means THORChain can onboard another $100 million in Collateral (33% Lending Lever), which is a $50 million in market-buy on RUNE (200% collateralization ratio).” THORChain A THORChain developer under alias @Pluto9r said in an X post that with the proposal, the project has a “real shot at being the world’s deepest BTC pool,” urging the community to support the proposal. I see it as doubling down on our moat, which is providing $BTC hold...