Weekly DeFi Update (Week 3, 17/01/2022 – 23/01/2022)
UNI to deploy Ethereum compatible V3. SundaeSwap went live last week with teething troubles. Price & volume indices tumble, while volatility sky rockets.
Key Takeaways
- Uniswap (UNI) outlines steps to deploy V3 to an Ethereum compatible network, meanwhile, it reached a milestone with higher ETH/Stablecoin volume than other well-known exchanges.
- SundaeSwap (SUNDAE), a DEX based on Cardano (ADA), went live this week, but users report failing transactions.
- Single Finance (SINGLE), a yield farming platform built on Cronos, launched an IGO with VVS Finance.
- This week’s price and volume indices were negative at -36.08% and -15.22%, respectively, while the volatility index was positive at +156.95%
Highlights
- DEXs sliding into price war as Uniswap and dYdX slash trading fees
- DeFi vault aggregator Revault partners up with Quantum Economics
- Solana-based DeFi project Hubble Protocol raises USD $10M
- Stader Labs announce $12.5 million strategic raise, receives praise from Terra founder Do Kwon
- Secret Network offers $400M in funding to bring others in on the secret
- Brazilian asset manager Hashdex to launch DeFi ETF including UNI, AAVE, and COMP
- Hacker steals $200,000 through Multichain bug, offers to return 80% to victim
- DeFi Protocol Aave to launch Ethereum-based alternative to Twitter
- 1inch expands to Avalanche and Gnosis Chain
- OlympusDAO sheds 30% triggered by whale sell-off
- Wonderland is buying TIME
Check the latest prices on Crypto.com/Price
Top Token Metrics
| Metrics | Top 20 DeFi tokensmarket cap | Top 100 DeFi tokens market cap | DeFi dominance*vs. all crypto |
|---|---|---|---|
| Current | $84.79B | $108.96B | 6.62% |
| 7-Day Change | -21.20% | -24.69% | +0.03 p.p |
| 14-Day Change | -15.50% | -19.17% | +0.05 p.p |
Source: CoinGecko
DeFi Index Tokens
| Metrics | Price | Volume | Volatility |
|---|---|---|---|
| Top Gainers | – | MKR (+76.30%) NXM (+57.81%) LRC (+38.68%) | UMA (+216.69%) BAL (+186.95%) REN (+180.71%) |
| Top Losers | CRV (-42.58%) LRC (-41.12%) LINK (-39.57%) | LINK (-37.56%) CRV (-22.93%) BAL (-1.30%) | – |
DEX Metrics
| Metrics | UniswapEthereum | SushiMulti-chain | PancakeBSC | SpookyswapFantom | RaydiumSolana | Trader JoeAvalanche |
|---|---|---|---|---|---|---|
| Market Cap | $4.94B | $859.35M | $2.10B | $198.32M | $293.28M | $132.22M |
| 7-Day Change | -37.80% | -36.80% | -37.40% | -42.90% | -31.00% | -50.90% |
| TVL | $6.32B | $4.72B | $4.11B | $1.08B | $730.12M | $989.71M |
| 7-Day Change | -21.30% | -15.80% | -17.70% | -35.40% | -34.70% | -32.70% |
| Mcap/TVL | 0.78x | 0.18x | 0.51x | 0.19x | 0.40x | 0.14x |
| 7-d Avg. Volume | $279.62M | $242.17M | $156.99M | $10.89M | $44.36M | $15.20M |
| 7-Day Change | +31.60% | -14.00% | +49.20% | +3.30% | +27.50% | +14.80% |
| Volume / TVL | 4.42x | 5.13x | 3.82x | 1.01x | 6.08x | 1.54x |
Source: CoinGecko, DeFi Llama
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