Crypto.com Weekly DeFi Update (Week 49, 06/12/2021 - 12/12/2021)
All DEXes decreased in TVL and market cap. SushiSwap CTO resigns over internal feuds.
All DEXes showed decreases in TVL and market cap. However, 7-day average volumes showed mixed recovery with 50% of DEXes showing positive movement.
Following recent allegations of interpersonal conflict, SushiSwap CTO Joseph Delong has resigned, citing chaos within and without the project’s leadership team. (ref)
The total value locked (TVL) across all Ethereum DeFi platforms has increased to USD101.43B, according to DeFi Pulse, up from $100.573B last week. According to DeFiLlama, the TVL for all DeFi platforms is at $247.75B, down from $249.75B last week.
Overall, DeFi price, volume, and volatility indices were negative at -1.11%, -8.84% and -23.68%.
Check the latest prices on crypto.com/price
*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
YFI newsletter #50 released. (ref)
0x and CELO expand partnership to allocate $4.5M towards the growth of the 0x ecosystem. (ref)
BalancerDAO treasury is rapidly diversifying across DeFi. (ref)
Source: CoinGecko, StakingRewards, DeFi Llama
The TVL and market cap of all DEXes decreased between -28.10% (SushiSwap) and -9.23% (Uniswap) this week.
However, there was mixed recovery across all DEXes with Uniswap, SushiSwap and PancakeSwap showing positive movement.
Trader Joe announced a deal with Wonderland Finance to diversify and increase protocol owned liquidity. (ref)
SpookySwap shares a new partnership with CryptoRefills for users to spend their $BOO for ‘real world’ products. (ref)
Former CTO of SushiSwap resigned from his role, further penning short reflections about leadership failures. (ref)
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