Finance Redefined: DeFi market fell off the cliff in Q2, but there’s hope
Analytical data reveals that DeFi’s total value locked registered a minor dip from the past week, falling to a value of $56.45 billion. Welcome to Finance Redefined, your weekly dose of key decentralized finance (DeFi) insights, a newsletter crafted to bring you some of the major developments over the last week.This past week, the DeFi ecosystem saw several new developments despite a bearish phase brought on by the lending crisis in the crypto market. Another crypto lender, Celsius, with high stakes in DeFi protocols, filed for bankruptcy. The overall DeFi market fell to new lows in the....
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While on-chain activity slowed down, the DeFi industry has managed to retain most of its daily active users. Despite the decentralized finance (DeFi) market suffering a 74.6% market cap decline in Q2, user activity has remained relatively resilient, says CoinGecko. In a report published by the crypto data aggregator on Wednesday, CoinGecko reported that the overall DeFi market cap fell from $142 million to $36 million over the second quarter, due mainly to the collapse of Terra and its stablecoin TerraUSD Classic (USTC) in May. CoinGecko also noted a rise in DeFi exploits in the quarter....
Multiple projects came out with powerful new ideas all at once. Finance Redefined is Cointelegraph's weekly DeFi-centric newsletter, delivered to subscribers every Wednesday.The end of January saw a string of interesting announcements from projects building innovative products that may well push DeFi forward. And more price gains of course.To briefly touch on the market side of things, this does feel like a much quieter rally than three years ago. Most things are going up, with some DeFi projects being particularly lucky, but it’s nowhere close to the insane gains we saw early in 2018.....
Bitcoin DeFi, Bitcoin on Ethereum: We explore the ways DeFi and Bitcoin intersect. Finance Redefined is Cointelegraph's DeFi-centric newsletter, delivered to subscribers every Wednesday.Today the crypto world is celebrating Bitcoin’s new all-time high. We did it guys! We’re back to $20,000 after three grueling years.So for this reason, this will be a bit of a Bitcoin-themed newsletter. How is Bitcoin related to DeFi, you ask? Well, for one thing, DeFi’s total value locked has a delta of about 0.2 to Bitcoin’s price. This means that for each 1% that BTC price goes higher or lower, DeFi TVL....
The Alpha Homora hack is still rippling through markets. Finance Redefined is Cointelegraph's DeFi-centric newsletter, delivered to subscribers every Wednesday.The Alpha Homora and Cream Finance hack has made a gigantic mark in the DeFi space this week.It is the largest single hack in DeFi history at $37 million in funds stolen. It is also one of the most complex, apparently leveraging several honest-to-God vulnerabilities in Alpha Homora. A few missing input checks in very specialized conditions allowed the hacker to abuse Alpha Homora’s privilege of borrowing an unlimited amount of funds....
Comparisons with 2017 seem to be ill-advised for now. This week definitely feels calmer, more positive than the last. And there’s good reason to be optimistic for DeFi bulls too, as the market posted a decent recovery since my last newsletter.People are calling it a “blue chip” rally, which means that it’s household names that are leading the charts (at least that’s the standard definition, it may also refer to their blue logos). AAVE and YFI rallied the most, followed by decent recoveries for Curve and Synthetix. These are big names, but at the same time I would give the “blue chip”....