Crypto.com Weekly DeFi Update (Week 9, 01/03/2021 - 07/03/2021)
Top 100 DeFi tokens’ market cap rebounded to $84.9B; TVL increased to $39.4B
Market Recap
According to CoinGecko, the top 100 DeFi tokens’ market capitalization rebounded from $65.1B on Monday to $84.9B at the time of writing, increasing more than 30% in a week and now close to the ATH level of $86.3B on 21st Feb. DeFi token dominance currently sits at 5.2%.
According to DeFi Pulse, the total value locked (TVL) gradually climbed back from $36.4B on Monday to $41.1B on Sunday. At the time of writing, TVL pulled back to $39.4B, while the ETH and BTC locked in DeFi plunged to 8.7M and 35K respectively.
Overall, the volume index and volatility index plunged by 29.08% and 12.14%, while the price index surged by 53.09%.
Check the latest prices on crypto.com/price
Spotlight of the Week
Big Data Protocol Becomes The NO.1 Of All DeFi Projects In Terms Of TVL
Big Data Protocol launched on Saturday, and has already attracted $6.5 billion in assets on its 6-day long yield farming campaign only 24 hours after its launch, including more than $1 billion from Alameda Research. Big Data Protocol aims to bring institutional and professional datasets to be purchasable and usable on-chain.
Price Index
All tokens increased in price.
Top 3 gainers: UNI (+155.07%), COMP (+37.15%), CRV (+36.03%)
According to CoinGecko, UNI reached new highs of $34.75 on Sunday, increasing more than 50% during the past week. At the same time, the market cap surged above $17.5B, becoming the first DeFi token to enter the list of top 10 cryptos by market cap.
Compound Finance announced to offer cross-chain borrowing via Gateway. COMP rises accordingly from around $400 on Monday morning to above $500 on Tuesday, according to CoinGecko.
On Tuesday, CRV surged after payment giant Paypal reportedly buying Curv, an unrelated Israeli crypto custody firm. CRV increased from less than $2 on Tuesday morning to above $2.5 on Wednesday. At the time of writing, it has fallen back to $2.14, according to CoinGecko.
Volume Index
All tokens decreased in volume.
Top 3 decrease: NXM (-71.31%), REN (-50.20%), YFI (-40.16%)
Volatility Index
All tokens, except BAL (-26.88%), increased in volatility.
Top 3 increase: CRV (+74.47%), YFI (+39.52%), REN (+34.21%)
Top DeFi News
DeFi Money Market Compound Embraces Multi-Chain Future With ‘Gateway’ Testnet
‘Better as friends’: DeFi protocols Yearn and Cover announce cessation of merger
Crypto project PAID exploited, attacker gains over 2,000 ETH after minting nearly $160M in tokens
Dev says $31 million Meerkat Finance exploit was a ‘test’; will return funds
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