FreeCryptoCurrency.Me

Lightning Labs, a startup focused on developing the Lightning Network, a Layer 2 payment channel network for Bitcoin, has launched a new marketplace for liquidity on the network.

According to an announcement, the new non-custodial, peer-to-peer marketplace “transforms” Lightning liquidity into a tradable asset called Lightning Pool, allowing users to “buy or sell access to liquidity.”

Lightning Pool opens the door to new Lightning financial products, or “LiFi,” the startup said in a statement.

“Unlike other services on the market, Pool sellers can earn yield on real bitcoin without trusting a third party or losing custody of their funds,” according to the firm. “The yield is earned from buyers on the Pool willing to pay a premium for access to new capital on Lightning without counterparty risk.”

The new marketplace is meant to address a general lack of liquidity on the Lightning Network, which has been an obstacle to its adoption. “Users attempted to solve this problem in a variety of ad hoc ways, such as chat groups and OTC services,” the release states. “Pool provides a solution that enables all of them to participate.”

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Data for October shows that decentralized exchanges (DEXs) saw a 23% decline in trade volume for the month, falling to $18.46 billion from September’s $24 billion.

October’s volume numbers signify the first decline since April 2020, a sharp contrast from the roughly 103% month-over-month increase from August to September, according to data published by Dune Analytics, which tracks volumes in the DEX ecosystem.

Two major decentralized exchanges comprised the majority of October’s volume, with Uniswap accounting for about 60.7% and Curve about 28.1%.

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Data for October shows that decentralized exchanges (DEXs) saw a 23% decline in trade volume for the month, falling to $18.46 billion from September’s $24 billion.

October’s volume numbers signify the first decline since April 2020, a sharp contrast from the roughly 103% month-over-month increase from August to September, according to data published by Dune Analytics, which tracks volumes in the DEX ecosystem.

Two major decentralized exchanges comprised the majority of October’s volume, with Uniswap accounting for about 64% and Curve about 24%.

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

This research piece is available to
members of The Block Genesis.
You can continue reading
this Genesis research on The Block.

Peer-to-peer cryptocurrency marketplace Paxful has launched a Visa debit card for U.S. users.

The card, the product of a collaboration with fintech startup Ternio, will let users convert cryptocurrencies to dollars to make purchases, open a checking account, and withdraw funds from “any ATM worldwide,” according to an announcement post.

The card, which Paxful and Ternio are pitching as a way for “unbanked” or “underbanked” people to gain access to traditional financial services, can be used at over 45 million merchants and ATMs, the companies said. It will have a minimum balance of $10. 

“Whether looking to invest in education, start a business, or simply manage the financial demands of everyday life, there should be a viable option for everyone across the globe,” Paxful CEO Ray Youssef said in an announcement. Ternio CEO Daniel Gouldman added that his company is “committed to providing interoperability between cryptocurrencies and the traditional banking system.”

Paxful’s new card arrives just a week after Coinbase announced that it would be launching its own Visa debit card for U.S. users sometime next year. BlockFi is also expected to release a U.S. debit card sometime next year.

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.