Two multi-million dollar Ethereum DeFi project forks just “rug pulled” their investorsBTC $13,339 (-2.9%) • ETH $382 (-1.2%) • XRP $0.23 (-1.8%)
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While the average DeFi coin is down massively since the summer highs, there have been projects launching that have caught the attention of many crypto investors, resulting in millions of dollars worth of capital raised. Two such coins are Keep3r Network’s KPR and KORE. The former is a coin launched by the founder of Yearn.finance and YFI Andre Cronje. As reported by CryptoSlate, this new token is the currency of a blockchain-based job network. It rallied over 15,000 percent in the day after it launched to the public. The latter, KORE, is a “money game” that surged 4,000 percent in the day after its launch. The coin traded at a $40 million market capitalization a day after it went live and then proceeded to move even higher. Both coins have launched in the past five weeks and have seen tremendous success as aforementioned, even in the face of a weak Ethereum price and brutal DeFi correction. Unsurprisingly, they have been forked by opportunist Ethereum developers looking to make a profit in a mini bear market. Unfortunately, many of these forks have turned out to be scams or at least money grabs with no legitimate product or innovation. 📈 Trending … DeFi Tokens • Oracle Tokens • Biggest Gainers • Stablecoins More news ⏬Australian central bank mentions “Ethereum” as digital currency push continuesWith all institutional attention on Bitcoin as of late, Ethereum has received little love from the corporations and governments of the world. Despite 10% bounce in AAVE and YFI, analysts don’t think the DeFi bottom is inAs the short-term future of decentralized finance (DeFi) coins has become uncertain over recent days, analysts and investors in the space have weighed in on what they think comes next. Yearn.finance (YFI) rapidly fixes “attack vector” similar to one used on $1b protocol HarvestHarvest Finance, what used to be a $1 billion yield farming protocol on Ethereum, underwent a brutal attack last week that wiped approximately $30 million from user accounts. Despite 95% drop in SUSHI, Ethereum DEX SushiSwap launches extensive updateWhen SushiSwap was unveiled two months ago, it caused quite the stir in the Ethereum and decentralized finance (DeFi) space. How Marlowe Playground rounds up all of the work being done on Cardano’s GoguenToday’s release of Marlowe Playground marks an important milestone for Cardano—the beginning of its Goguen era. Control your wealthAd: A trusted and accessible wealth management ecosystem powered by blockchain technology, SwissBorg puts your wealth back in your hands. 🗞 Got a story tip? Email tips@cryptoslate.com Crypto market dataFor more pertinent market data, please see: Connect with usDisclaimer: None of the content in this newsletter is meant to be financial advice. Please do your own due diligence before taking any action related to the content within this article.
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