Billions exited DeFi protocols last week, but newcomers like Cronos Chain show growth

2021-11-23 20:30

Total value locked (TVL) across all platforms went down from $273 billion to $261,2 billion last week, according to DeFiLlama.

At the time of writing, Cronos Chain TVL hovers around $781 million, up almost 41% during the past 7-day period. Meanwhile, Avalanche TVL rose 23%.

Avalanche ATH

Price, volume and volatility indexes were all down last week, pointed out a recent DeFi report by Crypto.com.

Despite the market downturn, Avalanche outperformed the competition and managed to attract volumes.

With 122,42 billion TVL at the time of writing, Avalanche, promoted as “the fastest smart contracts platform in the blockchain industry,”  is currently the fourth ranked chain according to the metric, following Ethereum (ETH), Binance (BNB) and Solana (SOL).

Lending and borrowing protocol Aave takes the lead among 69 protocols deployed on Avalanche. 

At the time of writing, with $3,59 billion TVL on Avalanche, Aave is followed by decentralized exchange (DEX) Trader Joe, with currently 2,56 billion TVL. 

Following Aave and Trader Joe, decentralized non-custodial liquidity market protocol Benqi, which recently launched on Avalanche, ranks as third, with $1,57 billion TVL.

Last week, TVL and Market cap across all DEXes decreased between 5-12% and 15-30% respectively, added the report, noting Avalanche’s Trader Joe as an exception.

The platform’s native DEX outperformed the market with 27,64% TVL, and 10,36% market cap increase.

Last week, Binance announced its 25th project on Binance Launchpool – Benqi (QI), which already, after only a week of its launch on Avalanche, accounts for over 12% of the platform’s TVL, DeFiLlama’s data shows.

As of November 16, Benqi enables users to farm QI tokens over 30 days, by staking their BNB, AVAX and BUSD into separate pools.

With a current $28,6 billion market cap, AVAX gained over 44% in value during the past 7-day period, following the Deloitte partnership announcement and the Blizzard Fund launch.

AVAX reached its new all time high (ATH) on November 21, touching $146,22, according to CoinMarketCap.

Cronos Chain ATH

According to the report, Cronos Chain recorded over 2 million transactions in barely two weeks following the Cronos mainnet beta launch.

Inching fast to $800 million in TVL, the EVM chain running in parallel with the Crypto.org Chain continues attracting volumes.

Powered by Ethermint, Cronos facilitates the porting of apps and smart contracts from Ethereum and other EVM-compatible chains.

A bridge to the Crypto.org Chain was enabled by the Inter Blockchain Communications (IBC) protocol, which also leverages interoperability with other IBC-enabled chains, including Cosmos Hub.

Among 12 Defi protocols currently deployed on Cronos, the chain’s first automated market maker (AMM), VVS Finance, takes the lead with $612,89 million TVL, DeFiLlama’s data shows.

The Cronos base settlement currency and the Crypto.org Chain’s native token, CRO, rallied last week and currently ranks as the thirteenth crypto by market cap. 

The token’s value increased over 88% in the past 7-day period, following several high-profile marketing moves, as its market cap inches closer to the $20 billion mark.

CRO recorded its new all time high (ATH) on November 23, reaching $0.8085, according to CoinMarketCap.

The post Billions exited DeFi protocols last week, but newcomers like Cronos Chain show growth appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Show (SHOW) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 3.4E-5 (-100%)

week chain billion growth billions cronos show

week chain → Результатов: 116


Exploring the Binance Smart Chain, CeFi and DeFi on the International Scale Event, Indonesia Blockchain Week x Binance Summit 2021

Jakarta, 18 March 2020 – Indonesia Blockchain Week which was successfully held twice in a row in 2019 and 2020 have inspired Tokocrypto and Binance again to become a co-host of the upcoming Indonesia Blockchain Week x Binance Summit 2021, the largest blockchain of webinar event in Indonesia on March 20, 2021.

2021-3-19 22:24


Фото:

Binance Coin (BNB) fights for $250: Here’s what to expect

Binance Coin (BNB) has, after spending a week in retracement mode, finally made a move towards the upside. So, what caused BNB to surge over 20% on the day, and should you consider investing in BNB now? Fundamental analysis: Binance Smart Chain performance pushes BNB up With Binance Smart Chain (BSC) becoming increasingly popular as […] The post Binance Coin (BNB) fights for $250: Here’s what to expect appeared first on Invezz.

2021-3-2 21:20


Фото:

Over 1.5% of Entire Ethereum Supply Staked on ETH 2.0

Three weeks after it was launched, the Beacon Chain now holds almost 1. 6% of the entire supply of Ethereum, worth an estimated $1. 1 billion at current prices. According to the latest ‘Week On-Chain’ insight report from analytics provider Glassnode, the amount of Ethereum staked on the Beacon Chain, which launched smoothly three weeks ago, is … Continued The post Over 1.

2020-12-22 10:08


CertiK Crypto Security Project Set to Launch Beta for Smart Contracts Certik Chain

The organization developing blockchain security infrastructure CertiK Foundation is preparing to launch its beta CertiK Chain. CertiK Foundation wants to launch next week the Testnet 3.0 for CertiK Chain, which will make it possible for smart contracts to check the other contracts’ security audits before making a transaction. The CertiK Virtual Machine (CVM) is fully […]

2019-11-22 20:58


Bithumb Chain is Releasing a New ‘Exchange-as-a-Service’ to Allow Users to Create DeFi Apps

Bithumb, a prominent South Korean crypto exchange, has recently announced its new “exchange-as-a-service” platform, which is powered by the company’s own blockchain tech, Bithumb Chain. The product was announced this week and the idea is to allow the users to create their own decentralized finance applications using it. Right now, the platform is still being […]

2019-11-7 23:16


Yap Stone Gets Listed on 8 Exchanges, Giveaways Happening Simultaneously

Yap Stone (YAP), the native asset of the Yap Chain Foundation, got listed on eight notable cryptocurrency exchanges earlier this week, with at least four of them having YAP giveaway events. Users are now able to trade YAP on their preferred crypto exchanges, which are BW, DragonEx, Coinbene, DigiFinex, Coinsuper, Coinall, IDAX, and P2PB2B.

2019-11-6 10:19


After A Week, Ethereum Ropsten Testnet Is Still Split: Will Developers Or Miners Win The Battle

An interesting, albeit damaging chain of events, has led to a rather unexpected standoff within Ethereum’s Ropsten test network. The developers, the ones that have created the Ropsten Network and the miners, the ones facilitating the blockchain’s transactions, have now been in an almost week-long hard fork within the network. This was as a result […]

2019-10-7 16:58


Фото:

Bitcoin Cash Multi-Party Escrow, Vitalik Buterin Suggests BCH as Data Layer for ETH

Another week has passed for the Bitcoin Cash (BCH) community and as usual, there’s been a bunch of announcements and developments. BCH supporters this week saw the release of a multi-party onchain escrow system, Ethereum cofounder Vitalik Buterin discussed using the BCH chain as a data layer, and more BCH-accepting merchants were onboarded.

2019-7-16 00:56


Фото:

Bitcoin Cash Update: Multi-Party Escrow, Vitalik Suggests BCH as Data Layer for ETH

Another week has passed for the Bitcoin Cash (BCH) community and as usual, there’s been a bunch of announcements and developments. BCH supporters this week saw the release of a multi-party onchain escrow system, Ethereum cofounder Vitalik Buterin discussed using the BCH chain as a data layer, and more BCH-accepting merchants were onboarded.

2019-7-16 00:56


Фото:

Bitcoin Cash Multi-Party Escrow, Retail Adoption, and Upgrade Discussions

Another week has passed for the Bitcoin Cash (BCH) community and as usual, there’s been a bunch of announcements and developments. BCH supporters this week saw the release of a multi-party onchain escrow system, Ethereum cofounder Vitalik Buterin discussed using the BCH chain as a data layer, and more BCH-accepting merchants were onboarded.

2019-7-16 00:56