Key Takeaways

Terra’s UST flips BUSD to become the third-largest stablecoin. Meanwhile, Tron’s Justin Sun announced the launch of algorithmic stablecoin USDD backed by TRX.
Bastion (BSTN), the largest DeFi protocol on the NEAR blockchain, has closed a US$9 million Series A funding round on heels of its impending token launch.
MetaMask warns Apple users over an iCloud phishing attack, which has recently caused a user to lose about US$650,000. Also, it launched its first hardware wallet integration with Keystone.
Orbit Network, a decentralised stablecoin lending protocol, announced that it is incubated under Cronos Labs.
This week’s price and volatility indices were negative at -4.21% and -3.69%, respectively, while the volume index was positive at +27.04%.

Highlights

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, ANC, BAL, CAKE, COMP, CRV, CVX, FXS, JOE, LDO, LINK, MKR, OSMO, REN, SNX, SPELL, SUSHI, UNI, VVS, YFI

Notable Events

Curve Finance (CRV) published an elevated earning which was 100% higher than the average of the past weeks.
Convex Finance (CVX) has locked over 200 million units of CRV.
Compound (COMP) has been cooling down after its Robinhood listing.
Anchor protocol (ANC) passed a proposal to redirect remaining ANC airdrops to the community pool.

DEX Metrics

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

25 Apr 2022|MARKET UPDATES

Weekly DeFi Update (Week 16, 18/04/2022 – 24/04/2022)

Terra’s UST has become the third-largest stablecoin. Bastion Protocol on the NEAR blockchain closes a US$9M Series A funding round. Orbit Network a stablecoin lending protocol announces its incubation under Cronos labs.

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