DeFi, ICO and Invest News

💰 DeFi Protocol Lido investors withdraw $2.5bn in Ether from staking giant as rivals circle In a sign that new rivals are gobbling up Ether, Lido’s share of the multibillion-dollar staking market on Ethereum fell to a two-year low this month as deposits plummeted. Since March 1, investors have withdrawn around 800,000 Ether deposited in Lido, which is worth about $2.5 billion, according to DefiLlama data. In the last 30 days, it has lost more Ether than any other staking service. Lido’s share of the staking market has fallen from about 32% in November to just under 29%. Source @DeFi_ICO_Invest

📣 DeFi whales have millions ‘forgotten’ in bridge contracts: Arkham Several identified crypto addresses have millions of dollars either “stuck” or “forgotten” about in at least two large bridge contracts, according to blockchain intelligence firm Arkham. “There are dozens of accounts with 6-7 figures stuck in bridge contracts, forgotten about,” said Arkham in an April 22 X post., including wallets connected to Ethereum co-founder Vitalik Buterin, crypto exchange Coinbase, and several DeFi whales. Source @DeFi_ICO_Invest

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💰 Umoja Integrates Portal DeFi Enabling Trustless Swapping of Lower Risk, Higher Yield Assets on Bitcoin Umoja, the world's first DeFi protocol to structure low-risk, high-yield digital assets, today announced an integration with Portal DeFi, the world's first trust-minimized Layer 2 cross-chain swaps protocol that involves no bridges, custody, or wrapping. The partnership will integrate Bitcoin’s first high yield synthetic dollar, USDb, and the native $UMJA token into the Portal DEX Network, making it one-click, cross-chain tradable with Native BTC, BRC20s, and native assets on various chains. Source @DeFi_ICO_Invest

🪙 L2 volume on Uniswap has officially passed $250B — link @DeFi_ICO_Invest

📣 Saddle Raises $7.5M to Reduce Slippage in DeFi Trading Saddle, an open-source automated market maker (AMM) for trading between pegged value crypto assets, has closed a $7.5 million funding round led by Polychain and Electric Capital with participation from Nascent, Project Galaxy and others. The fundraise follows a $4.3 million raise in January. Founded in 2020, San Francisco-based Saddle is a decentralized AMM on the Ethereum blockchain that’s optimized for tokens that have their value pegged to an underlying asset in some way. Source @DeFi_ICO_Invest

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📊 Navigating the Future of DeFi at Zeebu by the Beach The event extended the professional dialogue of TOKEN2049 into a more relaxed, yet engaging environment. This approach reflected a broader industry trend where the boundaries between formal business exchanges and casual networking are increasingly blurred. “Zeebu by the Beach” capitalized on this by offering an atmosphere that encouraged informal yet fruitful discussions among attendees. Source @DeFi_ICO_Invest

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📊 Ethereum aims for $1 billion annual profit as DeFi gains momentum in Q1 Ethereum is on track to reach a $1 billion annual profit, driven by the surge in decentralised finance (DeFi) activities and the network's robust performance in the first quarter of 2024. In a report by Michael Nadeau, an analyst at The DeFi Report, released on April 17, Ethereum's Q1 income reached an impressive $365 million, representing a 155% year-on-year quarterly revenue growth and a remarkable 200% increase compared to the $123 million profit recorded in Q4 2023. Source @DeFi_ICO_Invest