The list was compiled based on a variety of empirical measures and surveys of more than 200 financial executives by Researchscape.

Top 5 DeFi Protocols That Are Disrupting the Crypto Industry

Fortune launched the very first Fortune Crypto 40 benchmark ranking, identifying the top five crypto companies in eight categories.

The eight categories are CeFi, TradFi, VC, NFT, Data, Infrastructure, DeFi and Protocols.

The list was compiled using a variety of empirical metrics and surveys of over 200 financial executives conducted by Researchscape. With the help of longtime crypto economist and journalist Rob Stevens, Fortune developed a methodology to identify the top companies, DAOs, and nonprofits in the industry.

Fortune describes the Crypto 40 as a “definitive list of the most important cryptocurrency companies.” Let’s look at the five Decentralized Finance (DeFi) protocols named among the Crypto 40:

5. Curve:

Curve protocol simplifies the process of swapping ERC-20 tokens and offers support for swapping Ethereum-based Bitcoin tokens and stablecoins like DAI. Additionally, Curve is said to offer users the best exchange rates and low slippage rates and fees for swapping tokens.

4. Aave:

Aave is a decentralized cryptocurrency lending platform that allows users to borrow and lend cryptocurrencies. Aave specializes in over-collateralized loans that require users to deposit cryptocurrencies worth more than their loan amount.

3. DAO Creator:

MakerDAO is developing the Ethereum blockchain technology for borrowing, saving, and a stable cryptocurrency. With the DAI stablecoin, anyone with an ETH wallet and a MetaMask wallet can lend money to each other. The more ETH a user locks into MakerDAO’s smart contracts, the more DAI they can create.

2. Swimming pool:

Lido is a liquid ETH 2.0 staking solution backed by some of the leading blockchain staking providers.

With the stETH token, Lido allows users to stake any amount of ETH, without having to maintain complex infrastructure. Additionally, it allows users to stake their ETH while engaging in on-chain activities of their choice, such as lending and yield farming.

1. Uniswap:

Uniswap is a decentralized exchange with peer-to-peer market-making capabilities. Uniswap is built on the Ethereum platform and is governed by UNI token holders. Uniswap is open source, meaning anyone can view and contribute to its code.

Besides the DeFi sector, Binance, Kraken and Coinbase took the top spots in CeFi, PayPal dominated TradFi and OpenSea dominated the NFT sector.

However, Bitcoin fell behind Ethereum in the protocol rankings, with Polygon taking third place ahead of Solana. Meanwhile, Bitmain came in third in the infrastructure race, behind Ledger and Genesis Digital Assets.

Source

STAMFORD, Conn., July 05, 2024 (GLOBE NEWSWIRE) — Grayscale® Investmentsthe world’s largest crypto asset manager*, and manager of the Grayscale® Digital Large Cap Fund (OTCQX:GDLC) (Large Cap Digital Fund), Grayscale® DeFi Fund (OTCQB:DEFG) (DeFi Fund) and Grayscale® Smart Contract Platform Ex-Ethereum Fund (GSCPxE Fund), today announced updated fund component weightings for each product as part of their respective Q2 2024 reviews.

No new tokens were added or removed from GDLC. As of end of day July 3, 2024, the GDLC fund’s constituents were a basket of the following assets and weightings.*

• Bitcoin (BTC), 70.46%
• Ethereum (ETH), 23.51%
• Solana (SOL), 3.86%
• XRP, 1.54%
• Avalanche (AVAX), 0.63%

No new tokens were added or removed from DEFG. As of end of day July 3, 2024, the DEFG fund’s constituents were a basket of the following assets and weightings.**

• Uniswap (UNI), 53.75%
• MakerDAO (MKR), 17.94%
• Lido (LDO), 12.68%
• Aave (AAVE), 10.58%
• Synthetix (SNX), 5.05%

In line with the CoinDesk Smart Contract Platform Select ex ETH Index, Grayscale adjusted the GSCPxE Fund portfolio by selling Polygon (MATIC) and using the proceeds to purchase existing fund constituents in proportion to their respective weightings. As a result of the rebalancing, Polygon (MATIC) was removed from the GSCPxE Fund. As of end of day on July 3, 2024, the GSCPxE Fund constituents were a basket of the following assets and weightings.**

• Solana (SOL), 65.80%
• Cardano (ADA), 14.67%
• Avalanche (AVAX), 10.70%
• Polkadot (DOT), 8.83%

Neither GDLC, DEFG, nor GSCPxE Fund generates income and all distribute fund components regularly to pay for current expenses. As a result, the amount of fund components represented by shares of each fund gradually declines over time.

For more information, please visit grayscale.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in any jurisdiction in which such offer or solicitation would be unlawful, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

*Largest in terms of assets under management as of July 3, 2024

**The compositions of the GDLC, DEFG and GSCPxE Funds are evaluated on a quarterly basis to remove existing Fund components or to include new Fund components, in accordance with the index methodologies established by the index provider. The holdings and weightings of each Fund are subject to change. Investors cannot invest directly in an index.

About Grayscale® Digital Large Cap Fund
The Digital Large Cap Fund seeks to provide investors with exposure to large-cap coverage of the digital asset market through a market-cap-weighted portfolio designed to track the CoinDesk Large Cap Select Index. The Digital Large Cap Fund holds the largest and most liquid digital assets that meet certain trading and custody requirements and are classified under the CoinDesk Digital Asset Classification Standard (DACS); the weightings of each fund constituent change daily and are published approximately 4:00 p.m. New York time. Additional information about the index methodology is available at: https://www.coindesk.com/indices/dlcs/.

The investment objective of the Digital Large Cap Fund is for its shares to reflect the value of the fund components held by the Digital Large Cap Fund, less its expenses and other liabilities. To date, the Digital Large Cap Fund has not achieved its investment objective and the shares listed on OTCQX have not reflected the value of the fund components held by the Digital Large Cap Fund, less its expenses and other liabilities, but instead have traded at both premiums and discounts to that value, with variations that have sometimes been substantial.

About Grayscale® DeFi Fund
The DeFi Fund seeks to provide investors with exposure to a selection of industry-leading decentralized finance platforms through a market-cap-weighted portfolio designed to track the CoinDesk DeFi Select Index. The DeFi Fund holds the largest and most liquid digital assets that meet certain trading and custody requirements and are categorized within the DeFi sector as defined by the CoinDesk Digital Asset Classification Standard (DACS); the weightings of each fund component change daily and are published approximately 4:00 p.m. New York time. Additional information on the CoinDesk DeFi Select Index methodology can be found at: https://www.coindesk.com/indices/dfx/.

The investment objective of the DeFi Fund is for its shares to reflect the value of the fund components held by the DeFi Fund, less its expenses and other liabilities. To date, the DeFi Fund has not achieved its investment objective and the shares listed on the OTCQB have not reflected the value of the fund components held by the DeFi Fund, less the DeFi Fund’s expenses and other liabilities, but instead have traded at both premiums and discounts to that value, with variations that have sometimes been substantial.

About Grayscale® Ex-Ethereum Fund Smart Contract Platform
The GSCPxE Fund seeks to provide investors with exposure to a selection of industry-leading smart contract platforms through a market-cap-weighted portfolio designed to track the CoinDesk Smart Contract Platform Select Ex ETH Index. The GSCPxE Fund holds the largest and most liquid digital assets, excluding ETH, that meet certain trading and custody requirements and are classified within the smart contract platform sector as defined by the CoinDesk Digital Asset Classification Standard (DACS); the weightings of each fund constituent change daily and are published approximately 4:00 p.m. New York time. Additional information about the CoinDesk Smart Contract Platform Select Ex ETH Index methodology is available at: https://www.coindesk.com/indices/scpxx/.

Grayscale intends to attempt to list the shares of this new product on a secondary market. However, there can be no assurance that such an attempt will be successful. Although the shares of certain products have been approved for trading on a secondary market, investors in this product should not assume that the shares will ever obtain such approval due to a variety of factors, including questions that regulators such as the SEC, FINRA or other regulatory agencies may have regarding the product. Accordingly, shareholders of this product should be prepared to bear the risk of investing in the shares indefinitely.

About Grayscale Investments®
Grayscale empowers investors to access the digital economy through a suite of forward-thinking investment products. Founded in 2013, Grayscale has a proven track record and deep expertise as the world’s largest crypto asset manager. Investors, advisors and allocators turn to Grayscale’s private placements, public offerings and ETPs for single-asset, diversified and thematic exposure. Grayscale products are distributed by Grayscale Securities, LLC (member FINRA/SIPC).

Media Contact
Jennifer Rosenthal
press@grayscale.com

Source

Substantial losses in the crypto and decentralized finance (DeFi) sectors amounting to $1.19 billion year-to-date.

The report arrives via The financial tycoons:quoting a report from blockchain security firm CertiK:

• Phishing attacks emerged as the most damaging vector, accounting for $497.7 million in losses across 150 incidents. “The second quarter of 2024 saw the highest losses since the third quarter of the previous year, despite a relatively quiet quarter in which markets mostly consolidated first-quarter gains,”

More information on the link above.

Source

Ethereum (ETH) statistics have shown that the digital currency may be suffering from a greater shortage than expected. According to on-chain data, Ethereum is now accumulating at a faster rate than Bitcoin.

The Divergence Between Ethereum and Bitcoin

According to data from Leon Waidmann of BTC-Echo, Ethereum is becoming scarcer than Bitcoin. While there are indicators that show the individual performance of BTC and ETH, their correlation by exchange balance is also crucial.

🚨HUGE divergence between #Ethereum And #Bitcoin!

ETH is becoming MORE RARE than BTC.#ETH Exchange balance: 10.189% 📉#BTC Exchange balance: 15.086% 📈

The gap is widening! pic.twitter.com/UnuejbnS8l

— Leon Waidmann | Onchain Insights🔍 (@LeonWaidmann) July 7, 2024

According to the attached Glassnode data shared by Waidmann, the current balance of the Ethereum exchange is pegged at 10.189%. In contrast, Bitcoin’s stands at 15.08%, a figure that suggests a narrowing gap.

Since the conversation around Ethereum Spot ETF ETH has become a key part of the trading strategy, and demand for ETH has increased. Investors suddenly started buying Ethereum at a frantic pace, which has led to a drop in trading platforms. The investor action is understandable, considering how Wall Street money is expected to buy Ethereum when the ETF launches.

This projection is not without foundation judging by the observed trend. Bitcoin Spot ETF products. When the BTC ETF hit the market in January, leading companies like Susquehanna International Group (SIG) has been going all out to buy the asset. The buybacks have played a crucial role in sending Bitcoin’s price to an all-time high (ATH) of $73,750.07.

Despite the rapid decline in Ethereum’s exchange balance, the impact on ETH’s price is not visible. At the time of writing, Ethereum is trading at $2,983.03, down 2.31% in the last 24 hours. The coin’s 24-hour low and high prices stand at $2,956.99 and $3,080.11, respectively.

ETH revival plans

The future growth of ETH now depends on the long-awaited new decision from the US SEC. After giving the green light to the 19b-4 forms for the Ethereum spot ETF application a few weeks ago, the wait for S-1 is near.

While the launch timeline remains largely speculative, the next two weeks appear crucial. ETF Store President Nate Geraci believes the regulator will do whatever it needs to do to ensure Ethereum ETF Begins Trading in 2 Weeks.

Learn more: Peter Schiff Claims Bitcoin Whales Have Framed ETF Investors as ‘Bag Holders’

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