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.

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

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

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