QDAO DeFi Weekly Update #15

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November 18, 2020

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Add: Anton Dzyatkovskii

Another week has passed – it’s time to share more QDAO DeFi updates! You asked for more DeFi tutorials? We are providing them! And we finally reached another milestone – 9,000 QDAO DeFi participants! Read about all the updates below.

Cryptocurrencies and DeFi coin market analysis

The crypto market is performing well. Bitcoin managed to hold its position above the $16,000 mark and is now trading at around $16,700. It’s good news for the whole market. But the BTC price hasn’t changed much during this week so it puts the “where to go?” question on alert.

The DeFi market is doing well too. The total value locked in DeFi managed to touch the $14 billion mark. Most DeFi tokens are soaring. Here are the changes in price for some of the popular DeFi coins:

  • Chainlink: -3.36%
  • Aave: +24.49%
  • yearn.finance: +18.83%
  • Compound: +21.80%

It’s unclear whether Bitcoin is able to grow higher or if the time for correction has come. This week could be decisive in whether we see a correction or a rally continuation.

DeFi news 

The DeFi market is attracting interest from the media as there are a lot of news items. Here are the most important events of the week:

  • Bitcoin is moving Ethereum. The wBTC cap surpassed the $2 billion mark. It’s not phenomenal for people to try and earn with BTC on the DeFi battlefield. Common cryptos are giving way to a new star – DeFi.
  • Crypto crimes are on the decline but DeFi is a hot topic for hackers. The total amount of funds stolen due hacks dropped by 3 times to $1.8 billion in 2020, compared to 2019. DeFi is something new and it has vulnerabilities. There are always a lot of people who want to part with money, if we are talking about trends. But hunters for easy money are easy to find too.
  • The trading volume on DEXes reached $42.6 billion during Q3 2020. The increase is tremendous – from $1 to $42 billion in 1 year! It’s a good indicator of the DeFi market’s recovery.

QDAO DeFi updates

We are working hard to make QDAO DeFi something great! Last week was productive, here are our biggest updates.

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 — 9026

Total amount of users’ funds: 

2626497.635708 XRP

956.2078413311 ETH

183.5154475 BTC

12797134.31 ADA

…and more.

Current users’ interest balance: 

79375.861 XRP

22.655671 ETH

3.693076738 BTC

250108.271421 ADA

…and more.

Number of withdrawals made: 7752

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.