Crypto.com Weekly DeFi Update (Week 17, 26/04/2021 - 02/05/2021)
Top 100 DeFi tokens’ market cap recorded a new high of $133.0B; TVL hit an ATH of $69.0B.
Market Recap
According to CoinGecko, the top 100 DeFi tokens’ market capitalization recovered and started to climb this week. It surged from $107.5B on Monday to a new high of $132.4B on Sunday. At the time of writing, the top 100 DeFi token’s market cap hit an ATH of $133.0B. Their dominance in the crypto space sits at 5.8%.
According to DeFi Pulse, the total value locked (TVL) recorded a new high of $69.0B on Sunday. At the time of writing, there are around 10.6M ETH and 158.2K BTC locked in DeFi respectively.
Overall, the price index increased by 23.59%, while the volume and volatility indices decreased by 28.37% and 54.51% respectively.
Check the latest prices on crypto.com/price
Spotlight of the Week
Balancer and Gnosis are Launching a New Decentralized Exchange (DEX)
Balancer is a popular AMM, while Gnosis is a protocol suite for DeFi market mechanisms. Balancer and Gnosis are launching an Ethereum-based DEX called Balancer-Gnosis-Protocol (ref). It combines Balancer v2’s Vault system with Gnosis’ price-finding mechanism which aims to protect traders from Miner Extractable Value (MEV), so users can get a better price.
Price Index
All tokens increased in price.
Top 3 gainers: COMP (+43.15%), AAVE (+37.26%), CRV (+28.26%)
COMP surpassed $800 for the first time this week and recorded a new high of $874.66 on Sunday (ref). This price surge is supported by the growth in the number of new addresses (ref).
AAVE launched the liquidity mining program (ref). AAVE’s TVL records an ATH of $10.3B at the time of writing (ref).
Volume Index
All tokens, except AAVE (+33.50%) and NXM (+0.44%), decreased in volume.
Top 3 decreases: MKR (-50.23%), UMA (-43.30%), LINK (-43.04%)
Chainlink and Vesper announced the development of an oracle for TVL together (ref).
Volatility Index
All tokens decreased in volatility.
Top 3 decreases: BAL (-66.05%), NXM (-65.40%), LRC (-58.36%)
Balancer and Gnosis are launching a new Ethereum-based decentralized exchange called the Balancer-Gnosis-Protocol (ref).
Top DeFi News
Ethereum DeFi Lending Platforms Print Record High of $25,000,000,000 in Total Value Locked
Badger DAO and RenVM announce launch of BTC-to-Ethereum 'Badger Bridge'
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