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Crypto.com Weekly DeFi Update (Week 23, 06/06/2022 – 12/06/2022)

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Crypto.com Weekly DeFi Update (Week 23, 06/06/2022 – 12/06/2022)

Celsius pauses withdrawals. Tron DAO boosts $USDD reserves with $50M in crypto. JPMorgan announces DeFi plans.

Crypto.com
Jun 13, 2022
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Crypto.com Weekly DeFi Update (Week 23, 06/06/2022 – 12/06/2022)

cryptocomdefi.substack.com

Key Takeaways 

  • Celsius (CEL) paused withdrawals, swaps, and transfers due to market conditions.

  • Tron DAO bought US$50 million in Bitcoin (BTC) and Tron (TRX) to overcollateralise USDD. Meanwhile, Tether (USDT) and Circle (USDC) announced launches to Tezos and Polygon, respectively.

  • JPMorgan announced plans for a blockchain-based settlement system and institutional-friendly DeFi liquidity pools.

  • This week’s volume index and volatility indices were positive at +13.55% and +11.63%, respectively, while the price index was negative at -15.79%.

Highlights

  • ApeCoin DAO officially favours remaining within Ethereum ecosystem

  • Lido-staked ETH (stETH) prices slip due to liquidity issues

  • Algorithmic stablecoin unveils new ways to preserve its peg to U.S. dollar

  • Number of DAOs increases 8x along with spike in votes and proposals

  • Suspected exploit shuts down Elrond’s Maiar DEX

  • DeFi convertible bond offering ‘a huge step forward for DAOs‘

  • Terra Classic (LUNC) holders increase 500% in a month as investors bet on LUNC recovery

  • GYM Network protocol hacked, US$2.1 million stolen: Here's how

  • Galaxy Digital leads US$20 million funding round in DeFi firm Skolem

  • Osmosis (OSMO) chain halted after US$5 million exchange exploit

  • Multicoin Capital leads US$60 million round in ‘Data DAO’ Delphia

  • DeversiFi launches cross-chain swaps for bridgeless DeFi transactions

  • Ripple and Stellar to help launch AUDC stablecoin for Novatti Group

  • ApolloX completes new funding round, gets hacked of US$2.8 million APX tokens

Check the latest prices on Crypto.com/Price

Check Price

Top Token Metrics

*Top DeFi tokens based on CoinGecko
Source: CoinGecko

DeFi Index Tokens

* DeFI index tokens: AAVE, BAL, CAKE, COMP, CRV, CVX, FXS, JOE, LDO, LINK, MKR, OSMO, REN, SNX, SPELL, SUSHI, UNI, VVS, YFI

DEX Metrics

* % change is based on the difference between two consecutive weekly periods
** Omitted due to incomplete source data
Sources: CoinGecko, DeFi Llama, Nomics

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

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Crypto.com Weekly DeFi Update (Week 23, 06/06/2022 – 12/06/2022)

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