Crypto.com Weekly DeFi Update (Week 30, 26/07/2021 - 01/08/2021)
Goldman Sachs Applies for DeFi-themed ETF
Market Recap
DeFi continued to grow this week. According to CoinGecko, the top 100 DeFi tokens’ market advanced from $87.6B on Monday to $92.2B at the time of writing. Their dominance in the crypto space currently sits at 5.57%.
According to DeFi Pulse, the total value locked (TVL) also ballooned from $63.5B to the current level of $71.6B. Around 9.7M ETH and 191.8 K BTC are locked in DeFi respectively at the time of writing.
Overall, the price, volume, and volatility indices increased by 23.8%, 38.2%, and 6.8% respectively.
Check the latest prices on crypto.com/price
Spotlight of the Week
Goldman Sachs Applies for DeFi-themed ETF
Goldman Sachs has recently applied to the U.S. Securities and Exchange Commission (SEC) for launching an exchange-traded fund (ETF) that would offer exposure to public companies in decentralized finance and blockchain around the globe. The filing states that the fund would invest at least 80% of its assets into companies that advance blockchain technology and the digitization of finance. The fund seeks to track the performance of the Solactive Decentralized Finance and Blockchain Index. One major concern regarding the Index’s methodology is that it only covers large-cap technology companies and does not track any DeFi projects (ref).
Price Index
All token prices rose.
Top 3 gainers: LINK (+37.64%), REN (+34.33%), UNI (+25.16%)
Notable events
Chainlink price feeds have been introduced to Synthetix’s Layer 2 exchange, and they are intended for providing high-quality data at lower costs and with higher frequency updates (ref).
This month, the Ren Project’s team has made improvements on several key aspects such as the Multichain infrastructure and the Airwave peer-to-peer network (ref).
Due to regulatory concerns, Uniswap has delisted 100 tokens from its app interface, including options and indexes (ref).
Volume Index
All tokens’ volume increased, except for NXM (-81.87%).
Top 3 increases: REN (+82.87%), LRC (+72.95%), LINK (+64.86%)
Volatility Index
Top 3 increases: REN (+66.45%), LRC (+28.09%), LINK (+24.55%)
Top 3 decreases: COMP (-24.77%), MKR (-6.68%), NXM (-1.83%)
Top DeFi News
UniSwap Governance Passes 20M Education Grant Pushing for Regulatory Awareness
Synthetix turns on layer-two alpha, launches Olympics betting on options platform
Aave (AAVE) Rebrands Its Institutional-Grade DeFi Offering to Aave Arc
Avalanche launches upgraded bridge, prepping DApps for mainstream adoption
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!