Weekly DeFi Update (Week 2, 10/01/2022 – 16/01/2022)

USDT freezes three addresses north of USD 160M. DYDX to fully decentralise by the end of 2022. BOG deploys price bot on Cronos CRO.

Jan 17, 2022
Defi 1

Key Takeaways 

  • Tether ($USDT) froze three Ethereum addresses holding over USD 160M worth of USDT following a request from law enforcement. (ref)
  • dYdX ($DYDX) announced plans to fully decentralise by the end of 2022. This will require the matching engine and orderbook to be decentralised, and will mean that no central party will receive trading fees from dYdX V4. (ref)
  • Bogged Finance ($BOG) deployed a Telegram price bot on Cronos. (ref)
  • This week’s price index was positive at +2.42%, while the volume and volatility indices were negative at -53.30% and -50.36% respectively.

Highlights

Check the latest prices on Crypto.com/Price

Top Token Metrics

MetricsTop 20 DeFi tokensmarket capTop 100 DeFi tokens market capDeFi dominance*vs. all crypto
Current$106.59B$142.65B6.85%
7-Day Change+6.22%+5.76%+0.28 p.p
14-Day Change-3.69%-4.86%+0.18 p.p
*DeFi dominance is defined as the total market capitalisation of DeFi coins as a percentage of that of all currencies (including DeFi coins), based on CoinGecko’s data. See CoinGecko’s definition of dominance for more information.
Source: CoinGecko

DeFi Index Tokens

MetricsPriceVolumeVolatility
Top GainersAAVE (+14.63%)
CRV (+11.01%)
UNI (+10.05%)
NXM (+31.07%)LRC (+6.81%)
Top LosersLRC (-12.56%) 
LINK (-5.27%)
UMA (-5.05%)
MKR (-97.61%) 
UMA (-71.44%)
SNX (-70.18%)
LINK (-62.69%)
SNX (-59.03%)
UMA  (-54.25%)
*DeFI index tokens: LINK,YFI,AAVE,SNX,UNI,COMP,MKR,UMA,REN,LRC,NXM,BAL,CRV

DEX Metrics

MetricsUniswap
Ethereum
Sushi
Multi-chain
Pancake
BSC
Spookyswap
Fantom
Raydium
Solana
Trader Joe
Avalanche
Market Cap$8.0B$1.3B$3.16B$263.94M$429.86M$243.65M
7-Day Change+4.70%+1.49%+9.81%+56.23%+2.19%+5.80%
TVL$8.15B$5.57B$5.1B$1.66B$1.11B$1.47B
7-Day Change+5.58%+11.01%+0.05%+47.03%-10.09%-13.81%
Mcap/TVL0.98x0.23x0.62x0.16x0.38x0.17x
7-d Avg. Volume$212.51M$281.72M$105.22M$10.54M$34.79M$13.25M
7-Day Change-39.05%-38.65%-2.76%+20.06%-30.09%-42.27%
Volume / TVL2.61x5.06x2.06x0.63x3.12x0.9x
* % change is based on the difference between two subsequent bi-weekly periods
Source: CoinGecko, DeFi Llama

Notable Events

  • Trader Joe released a whitepaper for Rocket Joe, a new DeFi 2.0 primitive on the platform. (ref)
  • Uniswap V3 became the highest volume DEX protocol on Polygon. (ref)

Tags

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cryptocurrencies

DeFi

Ethereum

Tether

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