{"id":9798,"date":"2022-04-01T20:44:23","date_gmt":"2022-04-01T20:44:23","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/finance-redefined-axie-infinitys-ronin-bridge-faces-worst-hack-binance-launches-bridge-2-0-and-more\/"},"modified":"2022-04-01T20:44:25","modified_gmt":"2022-04-01T20:44:25","slug":"finance-redefined-axie-infinitys-ronin-bridge-faces-worst-hack-binance-launches-bridge-2-0-and-more","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/finance-redefined-axie-infinitys-ronin-bridge-faces-worst-hack-binance-launches-bridge-2-0-and-more\/","title":{"rendered":"Finance Redefined: Axie Infinity\u2019s Ronin bridge faces worst hack, Binance launches Bridge 2.0 and more"},"content":{"rendered":"
The last week of March saw the decentralized finance (DeFi) market surge to new highs as institutional investors returned to the market. Amid the rising popularity of DeFi products, Axie Inifity\u2019s Ronin bridge faced the worst hack in crypto history, raising security concerns for the market.<\/p>\n
MetaMask integrated Apple Pay support, allowing users to purchase crypto using their Apple Pay account directly, and Binance launched Bridge 2.0 to integrate CeFi and DeFi into one platform.<\/p>\n
Looking at the price side, the majority of DeFi tokens in the top 100 not only registered double-digit gains but also rose to new multi-month highs, with several tokens seeing three-digit gains over the past week.<\/p>\n
Axie Infinity\u2019s Ronin bridge hacked for over $600M<\/strong><\/p>\n According to Axie Infinity\u2019s official Discord and Ronin Network\u2019s official Twitter thread, along with its Substack page, the Ronin bridge and Katana decentralized exchange have been halted after suffering an exploit for 173,600 Ether (ETH) and 25.5 million USD Coin (USDC), worth a combined $612 million at Tuesday\u2019s prices. <\/p>\n In a statement, its developers said they were \u201ccurrently working with law enforcement officials, forensic cryptographers and our investors to make sure that all funds are recovered or reimbursed. All of the AXS, RON and SLP [tokens] on Ronin are safe right now.\u201d <\/p>\n Continue reading<\/strong><\/p>\n Binance launches Binance Bridge 2.0 to integrate CeFi and DeFi<\/strong><\/p>\n On Tuesday, centralized cryptocurrency exchange Binance announced the rollout of Binance Bridge 2.0. The feature enables users to bridge assets from any blockchain, including tokens not listed on the Binance app, to the BNB Chain. Bridged tokens listed on Binance will be stored in the Funding or Spot Wallet, while unlisted bridged tokens will be transferred to the Funding Wallet only.<\/p>\n Users can bridge in or bridge out tokens between their native blockchains and BNB Chain via regular deposit and withdrawal functions. In the future, Binance also plans to create a better version of its mobile app to allow users to facilitate such conversion via a single click.<\/p>\n Continue reading<\/strong><\/p>\n MetaMask rolls out Apple Pay integration and other iOS updates<\/strong><\/p>\n ConsenSys-owned MetaMask tweeted a thread of updates on Tuesday for iPhone and Apple Pay users. The main feature is the ability to buy cryptocurrency using a debit or credit card through the mobile application, eliminating the need to transfer ETH from a centralized exchange like Coinbase into the application. <\/p>\n MetaMask uses two payment gateways, Wyre and Transak, to support debit card and credit card transactions. Users can now use their Visa and Mastercard credit cards stored in Apple Pay to buy ETH and deposit a daily maximum of $400 into their wallets thanks to the Wyre API. <\/p>\n Continue reading<\/strong><\/p>\n DeFi sector TVL rises as investors return to a bullish crypto market<\/strong><\/p>\n The month of March has been a tale of two halves for the cryptocurrency market, and the weakness that has been seen since the start of the year is starting to fade. Bitcoin\u2019s (BTC) strong move above the $40,000 level is helping to lift sentiment across the sector, while DeFi tokens are also beginning to move upward. <\/p>\n Data from cryptocurrency market intelligence firm Messari shows that a majority of the top tokens in the DeFi sector have posted double-digit gains over the past 30 days, led by THORChain (RUNE), which has increased by 199.81%, and Aave, which has seen its price increase 53.95%<\/p>\n Continue reading<\/strong><\/p>\n DeFi Market Overview<\/strong><\/p>\n Analytical data reveals that DeFi\u2019s total value locked has jumped by another $3.6 billion over the last week, reaching $133.6 billion at the time of writing. Data from Cointelegraph Markets Pro and TradingView reveals that DeFi\u2019s top 100 tokens by market capitalization performed reasonably well across the last seven days, with many registering a double-digit gain and a few even seeing a three-digit rise.<\/p>\n