QDAO DeFi Weekly Update #14

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November 11, 2020

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Add: Anton Dzyatkovskii

Another great week for QDAO DeFi has passed. A lot of work was done! We expanded our knowledge base with a dozen new tutorials and successfully launched the Platinum Forum. Jump in to find out more!

Cryptocurrencies and DeFi coin market analysis

The crypto market is in its prime! Last week was huge for Bitcoin and most altcoins. Bitcoin managed to get close to $16,000, which is the ATH of 2020! The market followed the king and now almost all coins are in the green zone. It’s unclear if Bitcoin can climb higher but there is a chance to make some profit on coins that are catching up.

The DeFi market is finally back on track. A new all-time-high of total value locked in DeFi was reached – $12.76 billion. DeFi tokens are booming! Here are the changes in price for some of the popular DeFi coins:

  • Chainlink: +26.75%
  • Aave: +118.98%
  • yearn.finance: +86.30%
  • Compound: +20.65%

The crypto market results are impressive but the Crypto Fear & Greed Index is at extreme levels of greed. Which means we should expect a drop.

DeFi news 

Interest in the DeFi market has reignited with new power! Here are the most important events of the week:

  • ETH fees are stabilizing. The DeFi market paid for this to happen with its capitalization. It’s the logical way. TVL in DeFi managed to hold above $11 billion, popular projects stand confidently on their feet and fees are lowering. Just another step in the DeFi market’s development.
  • Polkadot as the next home for DeFi. Polkadot’s blockchain offers strong features and is suited to the needs of decentralized finance. There is a big chance for the success of this affair. Time will tell.
  • David Marcus is interested in DeFi. The CEO of Libra asks the community about promising decentralized finance projects. This interest could attract the wrong attention. Libra’s situation turned Marcus into a person with a controversial reputation. His interest can harm DeFi.

QDAO DeFi updates

We are close to 9,000 QDeFi users! One more milestone is almost reached! Here are the most important updates of the week.

The Platinum Forum

Our team developed the Platinum Forum over the last few months and we’re happy to announce that it’s finished and already live. The launch took place on November 5th. Now, all crucial information about Noah City, BTCNEXT, QDAO DeFi and other projects can be found in one user-friendly place.

New tutorials

We’ve added new video guides to our YouTube channel to help you expand your crypto knowledge:

The latest stats from QDAO DeFi PULSE:

Number of active users — 8975

Total amount of users’ funds: 

2600297.13563 XRP

896.4846678 ETH

183.8285728803 BTC

12794657.998144 ADA

…and more.

Current users’ interest balance: 

75584.5498 XRP

21.830838 ETH

3.57343494 BTC

240535.3391 ADA

…and more.

Number of withdrawals made: 7585

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.