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The Divergence Between Price and Fundamentals
The bear trend continues while DeFi is growing faster than ever
Hey DEFI TIMES community,
The crypto markets are bloody red compared to the insane highs we saw in March/April 2021. Take a look at the Fear & Greed Index!
Even though the insanely bearish price action seems over, people are still confused. They don’t know where things are heading!
Markets keep declining, but there’s one thing that doesn’t care… DeFi!
The best metric to track DeFi’s growth is the amount of ETH locked in smart contracts.
And apparently, almost ¼ of all ETH are now locked in DeFi protocols.
This is an extremely healthy sign! It shows - once again - that DeFi doesn’t sleep. People might be bearish, but for how long?
At this point, the amount of ETH locked is almost at the same level as what it was during the DAO hack!! However, this time, we built a safe and battle-tested environment.
Prices decline - but fundamentals keep exploding. You don’t have to be a genius to realize that the market is not recognizing the opportunity.
Think long-term… keep stacking ;)
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VanEck ETF Decision Delayed
The SEC has delayed their decision about a potential Bitcoin ETF - once again!
Kyber Goes Polygon
Kyber has announced that they will expand to Polygon! The Polygon ecosystem is growing!
BitDAO has completed a private sale, with over $230M from leads (Peter Thiel, Founders Fund, Pantera Capital, and Dragonfly Capital) and other partners.
dYdX raises $65 million
dYdX has raised $65 million in their Series C. Paradigm has led the investment round, with several others participating: a16z, Polychain Capital, and Three Arrows Capital.
IRON Bank Run
Iron Finance, a fork of partially collateralized stablecoin Frax, has suffered a bank run that de-pegged its stablecoin IRON.
InstaDapp launches INST
InstaDapp has launched a governance token, called INST. Check if you are eligible to claim the airdrop here!
Cream Goes Arbitrum
Cream Finance announced they will go on Arbitrum! Is this the start of another DeFi Summer?
Ledger integrates ParaSwap
Ledger has integrated ParaSwap into its Ledger Live Trading Platform.
InsurAce Protocol is now the first insurance protocol to ever launch on both Ethereum and BSC!
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DISCLAIMER: All information presented above is meant for informational purposes only and should not be treated as financial, legal, or tax advice. This article's content solely reflects the opinion of the writer, who is not a financial advisor.
Do your own research before you purchase cryptocurrencies. Any cryptocurrency can go down in value. Holding cryptocurrencies is risky.