ERC-20 Wallet Gets Commercial License, Aave Deploys On BNB: Finance Redefined
Welcome to Finance Redefined, your weekly DeFi Insights – a newsletter designed to bring you the most important developments from the past week.
The developer of the “Nova Drainer” fishing device is officially registered as a business in the United Kingdom. Peet Network has introduced a Bitcoin (BTC) exchange-traded fund (ETF) price feed, bridging the gap between traditional and decentralized finance to allow DeFi developers to access real-time market data. And the DeFi lending and usage protocol Blueberry has urged users to cash out immediately when it discovers a secret exploit.
The top 100 DeFi tokens continue their strong growth in market cap, with a total value locked (TVL) of more than $80 billion.
DeFi devs get real-time Bitcoin ETF data with the Pyth network
Pit Networks, a provider of real-time market data for blockchain applications, announced on February 20th the launch of 13 Bitcoin ETF price feeds, making accurate Bitcoin ETFs price data readily available to developers building DeFi protocols.
The approval of Bitcoin ETFs in the United States in January 2024 was a landmark event for the crypto industry, opening up regulated exposure to Bitcoin for mainstream investors who are still reluctant to enter the space through direct ownership.
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Aave deploys the DeFi protocol on the BNB Chain.
DeFi platform Ave has deployed its money market protocol on BNB Chain as the blockchain expands the DeFi ecosystem.
In an announcement sent to Cointelegraph, BNB Chain said that Aave is joining the growing network of DeFi protocols. The lending protocol is joining the likes of Uniswap and PancakeSwap to grow the DeFi ecosystem on the blockchain network.
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ERC-20 wallet exchange receives UK business registration
A development team that produces a fraudulent wallet leaker has taken the unusual step of registering as a business in the UK.
According to blockchain security firm CertiK, phishing software developer Crypto Grab markets its Nova Drainer app as a “drainer” or “phishing” product. The company is listed on the official website of Companies House, the UK government agency that oversees business registrations.
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DeFi protocol Blueberry has suspended lending following a secret exploit
DeFi protocol Blueberry was able to pause the protocol on Friday after a mad dash to limit the damage caused by an “ongoing exploit.”
In a February 23 post on X, the Blueberry Protocol Foundation reported that they had experienced “continuing exploitation” and advised users to withdraw their funds from Blueberry's lending markets as it works to “pause the protocol as soon as possible.”
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Overview of the DeFi market
According to data from Cointelegraph Markets Pro and TradingView, DeFi's top 100 tokens had the biggest week by market capitalization, with most trading in the green on the weekly charts. TVL in DeFi protocols has breached $80 billion for the first time in over a year.
Thanks for reading this week's roundup of the most impactful DeFi developments. Join us next Friday for more stories, insights and lessons about this dynamic and evolving space.
