2020-9-15 21:15 |
FTX’s DeFi perpetual contracts were launched in mid-June with Compound (COMP) and Maker (MKR) having the dominant position with 20% share each, which has now fallen to 11.2% and 6.1%, respectively.
It makes sense, given that while COMP and Maker were hot at the beginning of this DeFi craze but now as the market grows, other projects are gaining strength.
While Maker saw the biggest reduction in its weightage in FTX’s DeFi Index, Kyber Network (KNC), 0x (ZRX), Augur (REP), and Bancor (BNT) also recorded a lower end single-digit decrease.
Meanwhile, emerging projects like Kava, Loopring (LRC), and REN registered a jump in their weightage.
However, the biggest gainer has been Synthetix (SNX), the 6th largest DeFi project with just over $745 million in deposits, as per analyst Ceteris Paribus.
Together LEND and SNX account for 46.6% of FTX’s DeFi Perpetual contracts.
Since the launch of the DeFi futures contract in mid-June, LEND and SNX are the biggest gainers while Maker has actually suffered losses.
The DeFi PERP is currently trading at $2,607 with a volume of $3.2 million, up from around $1,200 level it was at during the launch but down from nearly $3,500 high on Sept. 1st.
The post Aave & Synthetix Dominate FTX’s DeFi Index; Replacing Maker & COMP first appeared on BitcoinExchangeGuide.
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