Key Takeaways
- Chainlink (LINK) announced the release of its Verifiable Random Function (VRF) v2 to improve the experience in next-generation blockchain games and NFTs. In addition, VRF v2 can reduce the transaction fees by 60% compared to v1.
- Cardano’s first AMM DEX, SundaeSwap (SUNDAE), has crossed 100 million ADA in volume traded since launch. Meanwhile, another DEX built on Cardano, OccamX (OCX) is launching.
- Asset management firms QR Capital and Hashdex have launched the world’s first DeFi Exchange-Traded Funds (ETFs) on Brazil’s stock exchange. Their ETFs are known as QDFI11 (launched on 8 Feb 2022) and DEFI11 (launched on 17 Feb 2022), respectively.
- VVS Finance (VVS) announced the first dual rewards farm in partnership with Tectonic Finance (TONIC). Both DeFi platforms are built on Cronos chain.
- This week’s price, volume, and volatility indices were negative at -9.99%, -23.68%, and -25.54%.
Highlights
- Axelar’s universal blockchain interoperability network raises $35 Million to reach $1 billion valuation
- DeFi project Ref Finance (REF) closes $4.8 million round led by Jump Crypto
- Housecat raises $3.4 Million to help bridge DeFi, investment management
- DeFi may turn to DAO governance to reduce regulatory risks in 2022
- NFTs and DeFi are revolutionising real estate investing and homeownership
- DEX takes aim at protecting blockchains from manipulation and ‘slippage’
- Another fork bites the dust: the looming fall of FortressDAO and the perils of off-chain governance
- Multichain recovers $2.6M stolen funds, to reimburse losses on condition
- Chainlink (LINK)’s competitor, API3 (API3) surges more than 55% in one week amid crypto market doldrums
- Terra injects 450M UST into Anchor reserve days before protocol depletion
Check the latest prices on Crypto.com/Price
Top Token Metrics
| Metrics | Top 20 DeFi tokens market cap | Top 100 DeFi tokens market cap | DeFi dominance* vs. all crypto |
|---|---|---|---|
| Current | $75.16B | $98.52B | 5.69% |
| 7-Day Change | -4.85% | -5.45% | +0.11 p.p. |
| 14-Day | -10.47% | -11.35% | -0.05 p.p. |
| Metrics | Current |
|---|---|
| Top 20 DeFi tokens market cap | $75.16B |
| Top 100 DeFi tokens market cap | $98.52B |
| DeFi dominance* vs. all crypto | 5.69% |
| Metrics | 7-Day Change |
| Top 20 DeFi tokens market cap | -4.85% |
| Top 100 DeFi tokens market cap | -5.45% |
| DeFi dominance* vs. all crypto | +0.11 p.p. |
| Metrics | 14-Day |
| Top 20 DeFi tokens market cap | -10.47% |
| Top 100 DeFi tokens market cap | -11.35% |
| DeFi dominance* vs. all crypto | -0.05 p.p. |
Source: CoinGecko
DeFi Index Tokens
| Metrics | Price | Volume | Volatility |
|---|---|---|---|
| Top Gainers | – | BAL (+3.11%) | UMA (+52.84%) BAL (+35.13%) SNX (+13.25%) |
| Top Losers | REN (-17.01%) SNX (-14.65%) AAVE (-13.39%) | NXM (-79.62%) LRC (-51.03%) REN (-40.49%) | UNI (-36.70%) LRC (-36.03%) LINK (-30.17%) |
| Metrics | Top Gainers |
|---|---|
| Price | – |
| Volume | BAL (+3.11%) |
| Volatility | UMA (+52.84%) BAL (+35.13%) SNX (+13.25%) |
| Metrics | Top Losers |
| Price | REN (-17.01%) SNX (-14.65%) AAVE (-13.39%) |
| Volume | NXM (-79.62%) LRC (-51.03%) REN (-40.49%) |
| Volatility | UNI (-36.70%) LRC (-36.03%) LINK (-30.17%) |
Notable Events
- Following Ren Protocol (REN)’s change in the bridging fee two weeks ago, the recent price and volume of REN are trending lower than before the update.
- Loopring (LRC) volume is lower this week, relative to the week when they announced the launch of Optimism (Ethereum Layer 2).
| Metrics | Uniswap Ethereum | Sushi Multi-Chain | Pancake BSC | SpookySwap Fantom | Raydium Solana | Trader Joe Avalanche |
|---|---|---|---|---|---|---|
| Market Cap (Native Coin) | $4.28B | $702.00M | $1.99B | $157.74M | $236.39M | $173.37M |
| 7-Day Change | -3.52% | -4.65% | -3.16% | +5.98% | -12.64% | +1.86% |
| TVL | $7.53B | $4.17B | $4.62B | $1.22B | $687.09M | $1.51B |
| 7-Day Change | -1.11% | -7.61% | -1.29% | -0.67% | -4.14% | +4.64% |
| Mcap/TVL | 0.57x | 0.17x | 0.43x | 0.13x | 0.34x | 0.12x |
| 7-Day Avg. Volume | $1.67B | $104.01M | $399.80M | $212.83M | $46.06M | $174.17M |
| 7-Day Change | -10.98% | -23.75% | -18.40% | -36.92% | -5.74% | -13.69% |
| Avg. Volume / TVL | 0.22x | 0.23x | 0.09x | 0.17x | 0.07x | 0.12x |
| Metrics | Market Cap (Native Coin) |
|---|---|
| Uniswap Ethereum | $4.28B |
| Sushi Multi-Chain | $702.00M |
| Pancake BSC | $1.99B |
| SpookySwap Fantom | $157.74M |
| Raydium Solana | $236.39M |
| Trader Joe Avalanche | $173.37M |
| Metrics | 7-Day Change |
| Uniswap Ethereum | -3.52% |
| Sushi Multi-Chain | -4.65% |
| Pancake BSC | -3.16% |
| SpookySwap Fantom | +5.98% |
| Raydium Solana | -12.64% |
| Trader Joe Avalanche | +1.86% |
| Metrics | TVL |
| Uniswap Ethereum | $7.53B |
| Sushi Multi-Chain | $4.17B |
| Pancake BSC | $4.62B |
| SpookySwap Fantom | $1.22B |
| Raydium Solana | $687.09M |
| Trader Joe Avalanche | $1.51B |
| Metrics | 7-Day Change |
| Uniswap Ethereum | -1.11% |
| Sushi Multi-Chain | -7.61% |
| Pancake BSC | -1.29% |
| SpookySwap Fantom | -0.67% |
| Raydium Solana | -4.14% |
| Trader Joe Avalanche | +4.64% |
| Metrics | Mcap/TVL |
| Uniswap Ethereum | 0.57x |
| Sushi Multi-Chain | 0.17x |
| Pancake BSC | 0.43x |
| SpookySwap Fantom | 0.13x |
| Raydium Solana | 0.34x |
| Trader Joe Avalanche | 0.12x |
| Metrics | 7-Day Avg. Volume |
| Uniswap Ethereum | $1.67B |
| Sushi Multi-Chain | $104.01M |
| Pancake BSC | $399.80M |
| SpookySwap Fantom | $212.83M |
| Raydium Solana | $46.06M |
| Trader Joe Avalanche | $174.17M |
| Metrics | 7-Day Change |
| Uniswap Ethereum | -10.98% |
| Sushi Multi-Chain | -23.75% |
| Pancake BSC | -18.40% |
| SpookySwap Fantom | -36.92% |
| Raydium Solana | -5.74% |
| Trader Joe Avalanche | -13.69% |
| Metrics | Avg. Volume / TVL |
| Uniswap Ethereum | 0.22x |
| Sushi Multi-Chain | 0.23x |
| Pancake BSC | 0.09x |
| SpookySwap Fantom | 0.17x |
| Raydium Solana | 0.07x |
| Trader Joe Avalanche | 0.12x |
Source: CoinGecko, DeFi Llama, Nomics
Notable Events
- Trader Joe (JOE) launched ‘Rocket Joe’, a staking event to promote FiefGuild (a metaverse game with GameFi elements), which has attracted seed liquidity of more than $9.0 million.
- Fantom’s (FTM) leading DEX, SpookySwap (BOO), saw an increase in its native coin market cap after Andre Cronje’s new project, Solidly Exchange (SOLID), started its voting phase for emission.
