Crypto.com Weekly DeFi Update (Week 12, 22/03/2021 - 28/03/2021)
Crypto.com launched NFT platform.
Market Recap
According to CoinGecko, the top 100 DeFi tokens’ market capitalization retraced back slightly from Monday’s new high of $97.4B to $91.3B on Sunday. At the time of writing, the top 100 DeFi tokens’ market capitalization declined to $88.3B. Their dominance in the crypto space sits at 5.0%.
According to DeFi Pulse, the total value locked (TVL) in DeFi decreased from $43.6B on Monday to $41.1B on Sunday, and now dropping to $40.4B; around 9.3M ETH and 39.9K BTC were locked in DeFi at the time of writing.
Overall, the volatility index surged by 78.80%, while the price and volume indices decreased by 9.36% and 1.77% respectively.
Check the latest prices on crypto.com/price
Spotlight of the Week
Crypto.com Launches NFT Platform
Last Friday, Crypto.com launched a non-fungible token (NFT) platform, Crypto.com NFT, to deliver unique art and collectibles. This platform has curated a roster of creators including Snoop Dogg, Lionel Ritchie, Axel Mansoor, Aston Martin, and more. Crypto.com/NFT aims to be the world’s largest and most user-friendly NFT platform.
Price Index
All tokens, except CRV (+20.99%) and MKR (+0.20%), decreased in price.
Top 3 losers: SNX (-13.78%), UNI (-12.96%), UMA (-11.93%)
CRV rallied shortly after Coinbase announced the plan to list it on Coinbase Pro on Tuesday. The price surged from $2.3 on Tuesday to $3.1 on Wednesday, increasing more than 30% within 10 hours. The price rise is also backed by the volume as the volume increased sharply from less than $150M on Monday to more than $600M on Sunday (ref).
Uniswap v3 will be launched on May 5 with up to 4,000 times capital efficiency relative to v2; A tokenized version of Uniswap’s v3 video teaser (NFT) has sold for $525,000.
Synthetix posted a blog on Mar 24 stating that its transition to layer 2 has been “amazing to watch so far”.
Volume Index
Top 3 increase: CRV (+84.62%), UNI (+47.87), COMP (+10.36)
Top 3 decrease: BAL (-64.45%), NXM (-42.31%), LRC (-26.62%)
Volatility Index
Top 3 increase: COMP (+171.05%), UNI (+133.00%), UMA (+83.33%)
Top 3 decrease: BAL (-28.25%), LINK (-23.22%), YFI (-9.14%)
Top DeFi News
Uniswap v3 to Launch on May 5 With up to 4000x Capital Efficiency
Jeff Garzik’s DeFi protocol Vesper Finance tops $1B TVL in six weeks
Alpha Finance Announces Cross-Chain DeFi Staking and Tokenomics
Brave browser to integrate dedicated Binance Smart Chain DeFi wallet
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