Chain News Daily Official TheBitTimes.com

An altcoin in the Sui (SUI) ecosystem is skyrocketing after suddenly gaining support from Binance. In a new announcement, the world’s largest crypto exchange platform by volume says that it will be adding trading support for Cetus (CETUS), a decentralized exchange (DEX) and concentrated liquidity protocol on the Sui blockchain. According to Binance, CETUS opens up for spot trading as well as futures contracts in the USDT trading pair on Wednesday, while withdrawals are permitted starting Thursday. News of the listing sent CETUS, the project’s native asset, flying. CETUS shot up to a high of $0.341 Tuesday, up from Monday’s low of $0.163, a 109% gain. At time of writing, CETUS is trading for $0.31 with a current market cap of $101.8 million and ranked as the 439th largest crypto asset. Binance is applying a seed tag to CETUS, which the exchange applies to lower-liquidity projects that may exhibit higher volatility compared to other listed tokens...

Cross-chain interoperability protocol LayerZero’s infrastructure aims to drive liquid staking adoption across the DeFi ecosystem. Layer-1 blockchain Tenet is set to see its liquid staking derivatives platfrom plug into a cross-chain decentralized finance (DeFi) ecosystem through a partnership with omnichain messaging protocol LayerZero. Tenet has plugged into LayerZero’s cross-chain protocol to access the wider DeFi ecosystem across a number of different blockchains. The Cosmos-based blockchain is a DeFi-focused ecosystem which provides liquid ity and yield products for liquid staking derivatives (LSDs). LSDs have been a central cog in the DeFi ecosystem for some time. A prime example is Ethereum (ETH) liquid staking pools like Lido allowing users to stake and unstake ETH seamlessly leading to massive amounts of capital being staked for lucrative yields. Tenet’s network allows users to create projects and tokens which will now be integrated with LayerZero technology. The intero...

The top 100 DeFi tokens had a mixed week, with little changes and a majority of the tokens trading in green. Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The ongoing downturn in the crypto market hasn’t stopped European venture capital (VC) firms from investing in DeFi projects. A new report revealed that European DeFi startups saw a 120% increase in VC funding last year. The Euler Finance saga continued to dominate headlines, with the exploiter returning a significant chunk of the $190 million in stolen funds. The exploiter has returned over 58,000 stolen Ether (ETH) in one installment, and another $37 million worth of ETH and Dai (DAI) in the second one. Traditional banking giant, Citibank, forecasts tokenization will take over traditional finance and predicts that by 2030 trillions in assets could be tokenized. MakerDAO passed a new constitution t...