Crypto.com Weekly DeFi Update (Week 15, 12/04/2021 - 18/04/2021)
Top 100 DeFi tokens’ market cap recorded a new high of $128.5B; TVL hit ATH of $61.3B.
Market Recap
According to CoinGecko, the top 100 DeFi tokens’ market capitalization has jumped above $120B for the first time. It surged from $110.1B on Monday to a new all-time high of $128.5B on Friday. After that, it traced back to $122.2B on Sunday. At the time of writing, the top 100 DeFi token’s market cap dropped to $113.2B. Their dominance in the crypto space sits at 5.3%.
According to DeFi Pulse, the total value locked (TVL) in DeFi hit a new high of $61.3B on Friday. It declined after that and is now $54.8B; Around 11.2M ETH and 147.5K BTC were locked in DeFi at the time of writing.
Overall, the price, volume, and volatility indices increased by 7.11%, 90.49%, and 112.53%, respectively.
Check the latest prices on crypto.com/price
Spotlight of the Week
Chainlink Releases Whitepaper for Version 2.0
Chainlink is a decentralized oracle platform. It releases whitepaper for version 2.0 this Thursday, introducing seven updates, including the highlighted hybrid smart contracts, which combine blockchain smart contracts capabilities with off-chain world’s data and computations. The other six new features are 1) Abstracting away complexity; 2) Scaling; 3) Confidentiality; 4) Order-fairness for transactions; 5) Trust-minimization; and 6) Incentive-based security. The objective, as Chainlink CEO mentioned, is to create true transparency in any contracts between individuals and institutions (ref).
Price Index
Top 3 gainers: MKR (+42.00%), LINK (+11.23%), COMP (+7.82%)
Top 3 losers: REN (-8.30%), SNX (-6.85%), UMA (-0.13%)
MKR stayed around $2,600 at the beginning of Thursday, and soon surged above $4,000 for the first time and hit an ATH of $4,102.11 within the same day (ref). This price surge is supported by its volume.
LINK hit an ATH of $44.15 on Thursday (ref). Chainlink 2.0 whitepaper was released on Thursday, introducing next-generation hybrid smart contracts (ref).
COMP reached a new high of $608.21 on Friday (ref).
Volume Index
All tokens increased in volume.
Top 3 increase: MKR (+296.21%), UNI (+156.10%), AAVE (+136.22%)
Polygon launches a $40M liquidity mining program with AAVE (ref).
Volatility Index
All tokens, except UMA (-6.82%) and YFI (-16.96%), increased in volatility.
Top 3 increase: MKR (+399.58%), COMP (+228.03%), UNI (+196.45%)
Top DeFi News
Inside the Chainlink 2.0 whitepaper—the 7 updates you should know
Linux Foundation launches blockchain-based platform for insurance
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