Crypto.com Weekly DeFi Update (Week 46, 15/11/2021 - 21/11/2021)

Price, volume, volatility indices all down. Aave Arc’s market was introduced, aiming for institutional participation in DeFi.

Key Takeaways

• Avalanche (AVAX) outperformed its peers, reaching an ATH this week ($144.96) amid news of its Deloitte partnership and Binance US listing (ref).

• Aave Arc’s first market is officially introduced by Aave, with goals to increase institutional participation in DeFi. Fireblocks is the official partner for KYC and whitelisting requirements. (ref) 

• Cronos achieves over 2 million transactions and 700M+ TVL in 2 weeks

• Valkyrie is launching a $100M DeFi hedge fund, using its own proprietary system to move DeFi coins in and out of the system as well generating returns through staking and yield farming. (ref)

• The total value locked (TVL) across all Ethereum DeFi platforms has grown to $104.2B, according to DeFi Pulse, down from $111B from last week. According to DeFiLlama, across all platforms DeFi TVL reached $261.2B, down from $273B last week.

• Overall all price, volume, and volatility indexes were negative at -12.09%, -47.20%, and -3.50% respectively.

Highlights

• Big Four accounting firm Deloitte forges partnership With Ava Labs to leverage Avalanche blockchain

• Benqi on Binance Launchpool

• Paradigm launches a record $2.5b crypto fund

• Valkyrie is launching a $100m DeFi hedge fund 

• Aave Arc’s first market is officially introduced 

• Binance fully integrates Ethereum scaling solution, Arbitrum One

• NEAR Protocol launches sharding

• Polygon launches a zk-STARK scaling solution for DApp deployment

• Brave introduces built-in browser wallet for Ethereum 

• Ethereum Foundation is setting aside $1M for blockchain technology and advocacy 

• TRON foundation DeFi's TVL has surpassed $14 billion

• DeFi’s first syndicated loan launched by Alameda Research and Maple Finance

• Twitter creates team specialising in crypto and decentralised apps

Check the latest prices on crypto.com/price

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*DeFi dominance is defined as the total market capitalisation of DeFi coins as a percentage of that of all currencies (including DeFi coins), based on Coingecko’s data. See Coingecko’s definition of dominance for more information. Source: CoinGecko

Notable Events

• MakerDAO’s Founder, Rune Christensen, joins venture capital firm Dragonfly Capital as venture partner. (ref)

• DeFi protocol Acala has won Polkadot’s parachain auction, securing the first slot with over 31M DOT contributed by 81,000 community members. (ref)

• DeFi goes institutional with Aave Arc’s first market (in partnership with Fireblocks) and Maple Finance’s first syndicated loan to Alameda Research.

Source: CoinGecko, StakingRewards, DeFi Llama

Notable Events

• TVL and Market cap of all DEXes all decreased between 5-12& and 15% and 30% respectively this week, except for Trader Joe which outperformed the market with 27.64% TVL increase and 10.36% market cap increase.

• However, data suggests that SpookySwap still shows sustained growth as the only DEX to show positive 7-day average volume at 48.16%.

• Avalanche (AVAX) reached an ATH of $144.96 as news of its Deloitte partnership was confirmed. AVAX market cap now stands at $27B. Additionally, Benqi (QI) on the Avalanche ecosystem was launched on Binance Launchpool, allowing users to farm QI. (ref, ref)

• New research studies show that 50% of LPs on Uniswap are losing money compared to HODLers due to impermanent loss. This week the UNI token hit a 7-day low of $19.87. (ref)

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Thank you for reading! We hope you find our Weekly DeFi Update enlightening!

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