QDAO DeFi is moving toward great updates and the 10,000 participants mark. We will surely reach it in early 2021! Our team is constantly improving QDAO DeFi services and providing more food for your crypto brain. Find out more by reading this update.
Cryptocurrencies and DeFi coin market analysis
The crypto market remains overheated. The ‘Fear & Greed’ index is almost at the maximum greed level, which creates uncertainty over the direction of further movement. Even though Bitcoin fell below $17,000 and bounced back above $19,000, most altcoins dipped.
The DeFi market is not experiencing the best of times, despite the increase in total value locked. Many DeFi tokens dropped in value over the past week. Here are the changes in price for some of the popular DeFi coins:
- ChainLink: -4.35%
- Aave: -4.28%
- yearn.finance: -10.26%
- Compound: -7.82%
The situation is unstable. If Bitcoin finally breaks the $20,000 mark, we can expect the correction to start. Or we will continue to move sideways.
DeFi news
There is a lot of news about DeFi. Here are the most important events of the week:
- Cardano could be DeFi's home. Liqwid, an open-source lending protocol in a distributed decentralized cloud, is a sub-project of Cardano. It could become the first DeFi protocol in the ADA network.
- yVaults revenue. Today, the profitability indicators do not exceed 15% but it is Vaults that accounts for 65% of the income of YFI stakers. According to an unofficial report, YFI's profitability for the two months after the launch of Vaults was $4.14 million.
- The fall of DeFi tokens. Key DeFi tokens fell in price by 10% over the week. What caused it? Of course, this is BTC and ETH. The DeFi market is too young and is dependent on big players. This situation will continue for the next few years, roughly speaking.
QDAO DeFi updates
Another great week for QDAO DeFi users. Here are some new ways to expand your crypto knowledge! Check out the most important updates of the week.
New tutorials
We’ve added new video guides to our YouTube channel to help you expand your crypto knowledge:
- Discussing Ethereum 2.0, new PoS consensus, Validator’s rules: https://youtu.be/xgwhYDBrSwM
- Bitcoin Aims for $20k, Ethereum (ETH) Price Soars, XRP is 200% up!: https://youtu.be/Qvlpw4IIebU
- The Ethereum 2.0 launch, what’s next, how to become a Validator: https://youtu.be/5enFdILUuIg
- Should you trust S.Finance? How to stake stablecoins and forget ‘em: https://youtu.be/Ghpe-FUPXhY
- bZx in detail, Fulcrum overview, Torque loans, BZRX governance: https://youtu.be/oku3BUpWv9A
- Cross-chain solutions in DeFi. Possible/impossible future?: https://youtu.be/wiiUtGB6cks
- How Yearn Classic Finance works and EARN token price predictions: https://youtu.be/w0r30tXvpZo
The latest stats from QDAO DeFi PULSE:
Number of active users — 9461
Total amount of users’ funds:
3367724.43 XRP
991.52044291 ETH
185.951027025 BTC
17008798.878 ADA
...and more.
Current users’ interest balance:
56945.23389748 XRP
22.5204289905 ETH
3.593179819 BTC
291891.179485 ADA
...and more.
Number of withdrawals made: 8474
Want to be the first to hear QDAO DeFi news and updates? Visit our website and stay in touch with us on social media: Twitter, Facebook, Telegram, LINE and LINE 2 for the Japanese-speaking community.
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