Latest Crypto Exchange News and Insights | Yellow.com

Decentralized exchanges (DEXs) are slowly but surely chipping away at the dominance of centralized crypto exchanges. The shift is real. Recent data paints a clear picture. DEX volume has jumped from $133.5 billion in January to $179.5 billion this month. That's a hefty 34% increase. The trend becomes even more apparent when you look at the bigger picture. DEX trading volume as a percentage of total crypto trading volume has surged from 4.6% in February to over 7% this month. Do the math, and you'll see that's a 52% increase in DEX market share. So, what's driving this change? Kunal Goel, a senior research analyst at Messari, points to several factors. "The growth of meme coins and long-tail assets is one reason," Goel told Decrypt. These assets often debut on DEXs before hitting centralized exchanges – if they ever do. He also highlighted improved user experience. "Onchain UX has improved with low fee, high throughput on Solana and Ethereum L2s," Goel noted. The numbers are even more striking in the short term. In the past 24 hours, DEX volume accounted for 22% of all trading volume. That's according to DeFiLlama data. 2024 has seen a steady climb in DEX volume. But it's not been a smooth ride. March saw a massive spike in both CEX and DEX volumes. Goel explained the March anomaly: "Bitcoin hit fresh all-time highs in March and trading activity is typically positively correlated with price and sentiment." Looking ahead, Goel expects centralized exchanges to disrupt their own business model. They'll likely move on-chain before others beat them to it. "Base and BNB Chain are the prominent examples," he added. Interestingly, DeFi market cap dominance has actually dropped this year. It's currently at 3.86%, down from 4.47% on January 1. Goel found this puzzling, noting, "DEX volumes are a key driver for DEX value so it is a little contradictory." For the uninitiated, DeFi stands for decentralized finance. It's a catch-all term for blockchain-based financial tools, including DEXs. The main draw of DeFi and DEXs? They cut out the middleman. Anyone with internet access can lend, borrow, bank, or trade without traditional intermediaries. This accessibility has fueled significant adoption of DeFi and DEXs this year. They've become a major focus for dapp (decentralized application) developers. The crypto landscape is changing, and DEXs are at the forefront. Whether this trend continues remains to be seen, but one thing's for sure – the game is on.

Kraken has landed a major partnership with Tottenham Hotspur. The crypto exchange will become the club's first official cryptocurrency and Web3 partner. This deal marks a significant step in bringing crypto to mainstream sports. The partnership kicks off before the 2024/25 season. Kraken's logo will grace the sleeves of both men's and women's team jerseys. It's a big win for the crypto firm. Tottenham isn't new to the crypto game. They launched their own fan token last year. The SPURS token, created on Socios.com, joined a growing trend in sports. Ryan Norys, Tottenham's Chief Revenue Officer, is pumped about the deal. "We're stoked to partner with a forward-thinking brand like Kraken," he said. The club plans to offer fans exciting events and experiences. Kraken isn't just slapping its logo on shirts. They're going all in on fan engagement. Exclusive content, pop-ups, and behind-the-scenes access are all on the cards. It's about getting fans jazzed about crypto. Mayur Gupta, Kraken's CMO, sees a natural fit. "Crypto, like football, should be for everyone," he stated. The goal? Make finance more accessible to the average fan. But wait, there's more. Kraken's also teaming up with F1 Drive London at Tottenham's stadium. They're mixing crypto, football, and fast cars. Talk about a hat-trick. Kraken's no newbie in the UK. They've got a solid presence with 350 local team members. Globally, they serve over 13 million clients. That's no small potatoes. This deal isn't happening in a vacuum. Crypto's been making waves in sports. Just look at Cristiano Ronaldo's recent NFT collection with Binance. It's a whole new ballgame. Meanwhile, Kraken's got its eye on the bigger picture. They're planning a $100 million funding round before a potential 2025 IPO. It's crunch time for the crypto exchange.

Kraken is considering nuclear energy to power its data centers. The move comes amid expected growth in decentralized finance (DeFi) and increased demand for its services. Vishnu Patankar, Kraken's chief technical officer, revealed this in an exclusive interview with CoinDesk. The company is not planning to build its own reactors. Instead, it's exploring partnerships with energy providers using small modular reactors (SMRs). SMRs can be co-located with data centers. They aren't constrained by space or weather conditions. "With institutions moving into the crypto asset class and activity moving on-chain, the need for reliable fiat onramps continues to grow," Patankar said. He emphasized the importance of energy resiliency for supporting crypto ecosystem growth. The crypto exchange aims to secure its energy supply. This is in response to surging demand from artificial intelligence (AI) and high performance computing (HPC) firms. These sectors are altering the power stability landscape. Kraken is investigating nuclear power options in North America and Europe. Patankar noted the constant energy demand due to crypto's round-the-clock, global nature. The company's exploration aligns with a broader trend. More tech companies are seeking deals with nuclear operators to power AI-focused data centers. This was reported by The Wall Street Journal on Tuesday. Some bitcoin miners are shifting focus. They're now supplying infrastructure for power-hungry AI companies. Core Scientific recently signed a deal with AI firm CoreWeave. Patankar highlighted the potential benefits of nuclear backup. It would allow Kraken to operate during major disruptions to local energy supply. This redundancy protects the firm's ability to offer continuous services globally. The CTO anticipates a significant boom in DeFi. This could exponentially increase Kraken's energy needs in the future. While a final decision is pending, nuclear power is under serious consideration. Patankar cited limitations of alternatives like wind and solar, which are weather-dependent.

A long-dormant Bitcoin miner has resurfaced after 14 years of inactivity. The wallet transferred 50 BTC to Binance on June 26th. This sum is valued at approximately $3.05 million. Market intelligence firm Lookonchain reported the transaction. The miner originally acquired these tokens in July 2010. At that time, Bitcoin's price was below $1. Lookonchain shared the details on social media: "A miner wallet woke up after being dormant for 14 years and deposited 50 BTC ($3.05 million) to Binance seven hours ago. The miner earned 50 BTC from mining on July 14, 2010. Address: 1PDTDwpgRPdQaCcp3Th6zaMASgcCcm3Jcm" This is not an isolated incident. In May, Lookonchain identified two other long-dormant wallets becoming active. These wallets had been inactive since 2013. The May reactivation involved a combined $61 million worth of Bitcoin. These investors had purchased 500 tokens for $124 each 11 years ago. Their investment yielded gains of nearly 50,000%. Bitcoin's current trading price is $61,630. This represents a slight increase over the past 24 hours. The reemergence of dormant wallets can impact market sentiment. It may signal increased selling pressure. However, it also demonstrates Bitcoin's long-term value proposition. Such events highlight the importance of blockchain analysis. They provide insights into market dynamics and investor behavior. As the cryptocurrency market matures, these patterns may become more significant. The crypto community closely watches these movements. They can potentially influence short-term price action. However, their long-term impact remains to be seen.

Sony Group is set to enter the cryptocurrency market. The electronics giant, famous for its TVs, cameras and some other electronics, has acquired Amber Japan. The crypto exchange it will be relaunched as S.BLOX, a Bitcoin and crypto exchange. Sony purchased Amber Japan in 2023 through its subsidiary Quetta Web. Amber Japan was previously known as DeCurret. S.BLOX will feature an upgraded user interface and mobile app. The launch date remains unannounced. This acquisition reflects Sony's growing interest in cryptocurrency. Which is quite understandable, as Japan is emerging to be a leading Bitcoin market. Proactive regulation and high consumer awareness have contributed to this trend. These factors make Japan an ideal location for Sony's debut in the crypto space. Not to mention, Japan is a home country for the world famous pioneering technology company. Sony's entry signals wider mainstream adoption of cryptocurrencies. Sony has a history of transformative acquisitions. Past purchases of CBS Records and Columbia Pictures expanded its media presence. This latest move could have a similar impact on Bitcoin, though it is unclear if this move will be successful in a long-term perspective. Some of the crypto exchanges have proved to be successful, like Binance or Coinbase, while some ended pretty catosptrophic, like Mt. Gox. Sony is know for leading business in a pretty transparent way, so the latter might be an unsuitable example, you might say. The crypto market has seen increasing interest from major corporations. Sony's involvement further legitimizes the sector. It also highlights the potential for traditional companies to evolve in the digital age. S.BLOX aims to capitalize on Sony's technological expertise. The exchange is expected to offer a user-friendly platform. This could attract both new and experienced crypto investors. Sony's decision comes amid growing institutional interest in cryptocurrencies. The company's size and reputation could influence other large firms to begin their own journeys into the world of crypto.