QDAO DeFi Weekly Update #10

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October 14, 2020

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Add: Anton Dzyatkovskii

QDAO DeFi continues to release its inner potential! Our team is doing everything to release it to the max! Last week we added a lot more tutorials to give you efficient weapons to use in the DeFi market. Read all our updates and expand your crypto mind!

Cryptocurrencies and DeFi coin market analysis

The crypto market has shown impressive results over the week. Bitcoin managed to break through the $11,000 height and has reached the $11,500 mark. $12,000 is only a matter of time. Most of the altcoins grew too.

The situation with the DeFi market is not so bright. On the one hand, the total value locked in DeFi conquered $11 billion once again. On the other hand, many DeFi tokens declined over the week. But growth will soon resume as the NFT trend is gaining momentum. Here are the changes in price for some of the popular DeFi coins:

  • Chainlink: +21.83%
  • Aave: -2.65%
  • yearn.finance: -14.78%
  • Maker: +3.25%

We can see that the growth is going to continue during this week. But be ready for a deep correction when all the goals are reached.

DeFi news 

There are still a lot of DeFi news reports, here are the most important ones:

  • NFT’s to take on DeFi. One trend to push another into dark times. But what’s more important, NFT’s are game-changing. Remember, they are not empty – they will blow up the traditional markets.
  • DeFi market cap drops 25% in one day. 25% is not that big for the crypto market; compare this to Black Thursday on March 12th, when BTC dropped 60% or even more in one day. DeFi was just consolidating. Now we see that the growth continues.
  • Unlucky investors want to sue YFI founder Andre Cronje, despite him telling them not to invest in EMN because it was a test – yet another occasion where greed outweighs the mind. And now he’s being blamed and has even received death threats from these ‘reliable’ investors.

QDAO DeFi updates

The QDAO DeFi community is getting stronger every day. The project is adding approximately 100 new participants on a weekly basis. The 10k QDAO DeFi holders mark is not far away!

New tutorials

We’ve added new video guides to our YouTube channel and our blog throughout the week to help you expand your crypto knowledge:

The latest stats from QDAO DeFi PULSE

Number of active users — 8671

Total amount of users’ funds: 

2673503.0576 XRP

1221.0585246 ETH

210.7088354 BTC

13295218.538 ADA

…and more.

Current users’ interest balance: 

64677.8115 XRP

19.9643972 ETH

3.25263535 BTC

185763.263 ADA

…and more.

Number of withdrawals made: 6908

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 (for the Japanese-speaking community) and Telegram for English-speaking participants.