Weekly DeFi Index
This week’s market cap, volume, and volatility indices were negative at -10.33%, -40.23%, and -73.78%, respectively.
New Project Spotlight
- Users can now easily add their preferred EVM network in the Crypto.com DeFi Wallet. Through EVM network support, users are able to send and receive tokens on their custom networks, directly interact with dApps from their DeFi wallet, as well as tap into mainnet and testnet support.
- Tether, the largest stablecoin issuer in the world, announced a US$1 billion chain swap to convert USDT on Solana to Ethereum ERC20 with the help of an undisclosed third party.
- Curve Finance released the official code and whitepaper of its stablecoin, crvUSD. The stablecoin will be overcollateralised and rely on an algorithm called Lending-Liquidating AMM (LLAMMA).
- Uniswap Labs introduced two new smart contracts: Permit2, which allows sharing and managing token approvals across different smart contracts, and Universal Router for token and NFT swaps aggregation.
- Cardano’s developer Input Output Global is releasing a new privacy-focused blockchain called Midnight, which is alleged to preserve privacy while giving access to regulators and auditors. Midnight will be a side-chain of Cardano and offer zero-knowledge proof smart contracts.
- Ren Bridge announced its plans to sunset Ren 1.0 and will soon launch Ren 2.0, an open source community-controlled cross-chain network.
Recent Research Reports
|Argentina 2022 Survey: Argentines Are Increasingly Keen to Adopt Cryptos and NFTs: Crypto.com recently commissioned a survey of more than 2,000 Argentines to find out more about their investment preferences, knowledge, and opinions on crypto and NFTs.||Research Roundup Newsletter (October 2022): In this issue, we cover our recent Bloomberg Terminal integration, a special research report for the Singapore Fintech Festival, and feature articles on NFT financialisation and utility.||Alpha Navigator (October 2022): We look at crypto industry performance in October, including ETH’s short-term correlations with equities reducing. Is the Fed pivoting on rate tightening policy?|
The information in this report is provided as general market commentary by Crypto.com and its affiliates, and does not constitute any financial, investment, legal, tax, or any other advice. This report is not intended to offer or recommend any access to products and/or services. While we endeavour to publish and maintain accurate information, we do not guarantee the accuracy, completeness, or usefulness of any information in this report nor do we adopt nor endorse, nor are we responsible for, the accuracy or reliability of any information submitted by other parties.
This report is not directed or intended for distribution to, or use by, any person or entity who is a citizen or resident of, or located in a jurisdiction, where such distribution or use would be contrary to applicable law or that would subject Crypto.com and/or its affiliates to any registration or licensing requirement.
The brands and the logos appearing in this report are registered trademarks of their respective owners.
Research and Insights Team
Get fresh market updates delivered straight to your inbox:
Be the first to hear about new insights: