DeFi continued to boom last week. According to CoinGecko, the top 100 DeFi tokens’ market advanced from $92.2B on Monday to $102.3B at the time of writing. Their dominance in the crypto space currently sits at 5.6%.
According to DeFi Pulse, the total value locked (TVL) also ballooned from $70.4B to the current level of $77.4B. Around 9.4M ETH and 196.0K BTC are locked in DeFi respectively at the time of writing.
Overall, the price and volume indices increased by 14.2% and 8.2% respectively, while the volatility index plunged by 40.3%.
Check the latest prices on crypto.com/price
Spotlight of the Week
Ethereum London Hard Fork Goes Live
On Aug 5, the long-anticipated London hard fork was officially activated on Ethereum’s mainnet. It covers fixes and amendments which aim at improving the network’s user experience and value proposition. Most notably, the EIP-1559 involved in the upgrade tries to mitigate the volatility in gas fees and raises fee market efficiency (ref). Still, the crypto community observed that the gas fees have stayed high since the upgrade (ref).
All token prices rose.
Top 3 gainers: COMP (+22.52%), UNI (+21.90%), NXM (+19.90%)
Citing institutions’ growing demand for more exposure to DeFi, the California-based money manager Bitwise Investments is going to introduce two funds for AAVE and UNI (ref).
Jake Chervinsky, the General Counsel at Compound Finance, analysed the potentially broad impact of the recently proposed US infrastructure bill (ref). Hugh Karp, the Founder of Nexus Mutual, also commented on DeFi exploits and the US regulation (ref).
All tokens’ volume increased, except for REN (-10.22%) and AAVE (-1.06%).
Top 3 increases: BAL (+77.68%), NXM (+66.89%), UMA (+53.52%)
All tokens’ volume plunged, except for COMP (+4.70%) and MKR (+4.60%).
Top 3 decreases: LINK (-57.46%), REN (-48.34%), SNX (-44.35%)
Top DeFi News
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