Crypto.com Weekly DeFi Update (Week 39, 27/09/2021 - 03/10/2021)
Crypto.com Weekly DeFi Update (Week 39, 27/09/2021 - 03/10/2021)Price Index Up; Volatility, Volume Indices Down. Compound Suffers $90M Losses in Accidental Payout.Key Takeaways
Highlights
Check the latest prices on crypto.com/price Notable Events in DeFiCompound Founder Apologises for ‘Bone-headed’ Tweet Compound Founder, Robert Leshner, apologies for ‘bone-headed’ tweet following the accidental loss of $90M on the protocol as erroneous COMP tokens were accidentally sent to COMP holders. Leshner had originally tweeted for the return of funds, offering 10% as a white hat, while ‘doxxing’ those who do not comply. Following community backlash, he apologised for the ‘bone-headed’ tweet. (ref) Chainlink Partnership with Cardano and JPEG’d Announced Chainlink partnership with Cardano was announced during the Cardano Summit to build out secure smart contracts for DeFi applications on the Cardano ecosystem. Additionally, another partnership was announced with JPEG’d, a DeFi protocol looking to accept CryptoPunks as collateral. On-chain data shows ‘whale’ accumulation of LINK this week (around 3.4% supply of total LINK supply). (ref, ref, ref) New Chainalysis Report Showing Central, Northern, and Western Europe have the Biggest Cryptocurrency Economy in the World According to a Chainanalysis report, Central, Northern, and Western Europe have received over $1T in cryptocurrency, accounting for over 25% of all cryptocurrency activity in the world. Report further shows that over the last 12 months the majority of institutional transfers went into DeFi protocols. (ref) dYdX Tops Coinbase Trading Volume Decentralised derivatives trading exchange, dYdX tops Coinbase trading volume for the first time. Analytics show that dYdX 24h volume overtook Coinbase by 15%. This week, dYdX reached an ATH of $27.64. (ref) Thank you for reading! We hope you find our Weekly DeFi Update enlightening! Hungry for more? Visit our Research Hub and University to access other insightful crypto research! Share with a friend if you like our email! If you liked this post from Crypto.com DeFi Research, why not share it? |
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Crypto.com Weekly DeFi Update (Week 38, 20/09/2021 - 27/09/2021)
Monday, September 27, 2021
Prices were volatile last week, following the Evergrande-led sell-off and PBOC announcement in China. Data shows the Chinese crackdown caused uncertainty and increased OTC trading of USDT sell-off.
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Monday, September 27, 2021
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