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The crypto asset management giant Grayscale has launched a new trust that offers investors exposure to the decentralized finance (DeFi) protocol Aave (AAVE). The crypto firm’s new product is solely invested in Aave’s native token and functions like the company’s other single-asset trusts. Aave, which launched back in 2017, aims to serve as a decentralized liquidity protocol for lenders and borrowers. Rayhaneh Sharif-Askary, Grayscale’s head of product and research, says in a press release that the project has “the potential to revolutionize traditional finance.” “By leveraging blockchain technology and smart contracts, Aave’s decentralized platform aims to optimize lending and borrowing while removing intermediaries and reducing reliance on human judgment.” In a bid to diversify its investment offerings, Grayscale has launched a flurry of new products recently, including trusts for the payments altcoin XRP, the layer-1 Et...

Hedera said the smart contract exploit on Mar. 9 has not impacted the network or its consensus layer. Hedera, the team behind distributed ledger Hedera Hashgraph, has confirmed a smart contract exploit on the Hedera Mainnet that has led to the theft of several liquidity pool tokens. Hedera said the attacker targeted liquidity pool tokens on decentralized exchanges (DEXs) that derived its code from Uniswap v2 on Ethereum, which was ported over to use on the Hedera Token Service. Today, attackers exploited the Smart Contract Service code of the Hedera mainnet to transfer Hedera Token Service tokens held by victims’ accounts to their own account. (1/6) — Hedera (@hedera) March 10, 2023 The Hedera team explained that the suspicious activity was detected when the attacker attempted to moved the stolen tokens across the Hashport bridge, which consisted of liquidity pool tokens on SaucerSwap, Pangolin and HeliSwap. However, operators then acted promptly to temporarily pause the bridg...

Bitcoin and Ethereum are not part of the surprising list of five best and worst-performing cryptocurrencies for 2022. Cointelegraph looks back on the best and worst-performing crypto currencies of 2022 among the top 100 assets by market capitalization. We used the highest and the lowest year-to-date (YTD) returns through the close of Dec. 25, 2022. Overall, Cryptoindex.com 100 (CIX100), an index that tracks the 100 best-performing crypto currencies, fell nearly 68% YTD, suggesting most top coins underperformed in 2022. CIX100 weekly price chart. Source: TradingView Stablecoins are naturalomitted from the list below. Similarly, coins tracking the value of gold and similar mainstream assets have also been ignored. Instead, the coins mentioned below include decentralized currencies, smart contract tokens, exchange tokens, and others. Top five crypto of 2022 1. GMX (GMX) YTD return: 111% Sector: Decentralized Exchange Market Cap: $379.4 million GMX acts as a utility and a governance to...