Weekly DeFi Update (Week 7, 14/02/2022 – 20/02/2022)

Chainlink v2 will reduce transaction fees by 60%. SundaeSwap crosses 100M ADA traded. CRO VVS announces dual rewards farm with TONIC.

Feb 21, 2022
Defi 1200x728

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

Check the latest prices on Crypto.com/Price

Top Token Metrics

MetricsTop 20 DeFi tokens
market cap
Top 100 DeFi tokens market capDeFi dominance*
vs. all crypto
Current$75.16B$98.52B5.69%
7-Day Change-4.85%-5.45%+0.11 p.p.
14-Day-10.47%-11.35%-0.05 p.p.
MetricsCurrent
Top 20 DeFi tokens
market cap
$75.16B
Top 100 DeFi tokens market cap$98.52B
DeFi dominance*
vs. all crypto
5.69%
Metrics7-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.
Metrics14-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.
*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 GainersBAL (+3.11%)UMA (+52.84%)
BAL (+35.13%)
SNX (+13.25%)
Top LosersREN (-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%)
MetricsTop Gainers
Price
VolumeBAL (+3.11%)
VolatilityUMA (+52.84%)
BAL (+35.13%)
SNX (+13.25%)
MetricsTop Losers
PriceREN (-17.01%)
 SNX (-14.65%)
AAVE (-13.39%)
VolumeNXM (-79.62%)
LRC (-51.03%)
REN (-40.49%)
VolatilityUNI (-36.70%)
LRC (-36.03%)
LINK (-30.17%)
*DeFI index tokens: LINK,YFI,AAVE,SNX,UNI,COMP,MKR,UMA,REN,LRC,NXM,BAL,CRV

Notable Events

MetricsUniswap
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/TVL0.57x0.17x0.43x0.13x0.34x0.12x
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 / TVL0.22x0.23x0.09x0.17x0.07x0.12x
MetricsMarket 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
Metrics7-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%
MetricsTVL
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
Metrics7-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%
MetricsMcap/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
Metrics7-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
Metrics7-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%
MetricsAvg. 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
* % change is based on the difference between two subsequent bi-weekly periods
Source: CoinGecko, DeFi Llama, Nomics

Notable Events

Tags

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