DeFi & L1L2 Weekly (16/11/2022)

Tether’s USDT stablecoin temporarily dropped 3%. 7-day DeFi weekly exchange volume hits $32 million.

Weekly DeFi Index

This week’s market cap and volume indices were negative at -20.07% and -15.63%, respectively, while volatility index was positive at +215.12%.

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• DEX volume has been rising in the past week. Trading volume on Uniswap reached US$51 billion for November so far, which has already eclipsed October’s $29 billion. New users of Uniswap also reached a 2022 high at 55,550 daily transacting wallets.

News Highlight

• On 11 November, Tether’s USDT stablecoin temporarily dropped 3% below its dollar peg.
• DeFi weekly exchange volume hit $32 billion over the past seven days, according to Dune Analytics’s latest data, with several exchanges posting an overnight doubling of trading volumes on the heels of market events this week.

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