The market capitalization now sits around $500 million, well below the $22 billion for the leading decentralized exchange Uniswap’s UNI token but still enough to turn heads.
Some analysts have attributed the recent success of the Serum project and Solana blockchain to their association with Bankman-Fried, who garnered headlines recently for his $135 million deal to name the basketball team Miami Heat’s home arena after the FTX exchange.
Earlier this month, Alameda Research led investors in a $2 million fundraising round for Step Finance, a trading dashboard born out of a Solana-focused hackathon.
A key talking point on Serum is that it provides a user experience similar to what traders see on big centralized cryptocurrency exchanges.
A central limit order book is possible on Solana partly because of its high scalability, supporting 50,000 transactions per second .
Danny Kim, head of revenue at crypto prime dealer SFOX, said serum’s recent price gains may also be the result of excitement over Step Finance, which offers up to 3,500% annual percentage rate on deposits of its STEP tokens.
Automated market makers “have grown in popularity on Ethereum primarily because they make it easy for yield and risk-insensitive asset owners to provide liquidity to the market,” Yakovenko wrote.
It’s still wait-and-see whether Serum will eventually pose any real threats to popular DEXs on Ethereum and BSC.
Ethereum, the world’s second largest cryptocurrency in terms of market capitalisation, touched a new peak on Wednesday, with participants citing media reports about the European Investment Bank’s plans to launch a “digital bond” sale on the ethereum blockchain network.
The Federal Reserve again said it sees inflation as “transitory,” but market economist Peter Cardillo of Spartan Capital Securities tells Reuters’ Fred Katayama why inflation will stick.
Speaking of economic opportunity, and the general benefits of wide-ranging growth, President John Kennedy once said, “A rising tide lifts all boats.” As the COVID crisis fades, and economic activity starts returning to normal, we may be seeing just such a situation.
It would be part of a strategy to borrow as much as $20 billion over the next five years to make up for an expected shortfall in revenue.More to ComeAsset and debt sales are likely to account for the lion’s share of future deals, according to Hasnain Malik, head of equity research at Tellimer, a London-based firm that provides analysis on emerging markets.“Securitizing future cash flows and issuing bonds, as well as private equity sales, appear a far less onerous method of raising finance from international investors than selling equity via an IPO,” said Malik, who’s covered Middle Eastern markets for more than 20 years.
farmer Rob Arkfeld was vacationing on a sandy beach in Mexico’s Riviera Maya when he won an online auction to rent 535 acres of cropland back home in Iowa by bidding nearly double the local average for each acre.