Weekly Update - DeFi and Layer 1 & Layer 2 News (Week 45, 09/11/2022 - 15/11/2022)
Tether’s USDT stablecoin temporarily dropped 3%. 7-day DeFi weekly exchange volume hits $32M.
Weekly DeFi Index
This week's market cap and volume indices were negative at -20.07% and -15.63%, respectively, while volatility index was positive at +215.12%.
Check the latest prices on Crypto.com/Price
*DeFI index tokens: AAVE, BAL, CAKE, COMP, CRV, CVX, FXS, JOE, LDO, LINK, MKR, OSMO, REN, SNX, SPELL, SUSHI, UNI, VVS, YFI.
DEX volume has been rising in the past week. Trading volume on Uniswap reached US$51 billion for November so far, which has already eclipsed October's $29 billion. New users of Uniswap also reached a 2022 high at 55,550 daily transacting wallets.
As of 15 Nov 2022
Sources: DeFi Llama, Crypto.com Research
Note: TVL excludes governance token staking, staked LP tokens that one of the coins in the pair is governance token, double counting (TVL feeds into another protocol), borrowing, liquidity staking, and vesting
As of 15 Nov 2022
Sources: CoinGecko, DeFi Llama, Crypto.com Research
News Highlight
On 11 November, Tether’s USDT stablecoin temporarily dropped 3% below its dollar peg.
DeFi weekly exchange volume hit $32 billion over the past seven days, according toDune Analytics’s latest data, with several exchanges posting an overnight doubling of trading volumes on the heels of market events this week.
Argentina 2022 Survey: Argentines Are Increasingly Keen to Adopt Cryptos and NFTs: Crypto.com recently commissioned a survey of more than 2,000 Argentines to find out more about their investment preferences, knowledge, and opinions on crypto and NFTs.
Research Roundup Newsletter (October 2022): In this issue, we cover our recent Bloomberg Terminal integration, a special research report for the Singapore Fintech Festival, and feature articles on NFT financialisation and utility.
Alpha Navigator (October 2022): We look at crypto industry performance in October, including ETH’s short-term correlations with equities reducing. Is the Fed pivoting on rate tightening policy?
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