QDAO DeFi Weekly Update #32

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June 11, 2021

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Add: Veronica Zubrii

Two weeks have passed and we are ready to present more QDAO DeFi updates. This time, we were fully focused on new video tutorials and we began the QDAO DeFi Dashboard’s integration. Take a look at all the updates!

Cryptocurrencies and DeFi coin market analysis

The situation in the crypto market is very unstable. At first, Bitcoin appeared to climb easily towards $40,000, then it fell to $31,000. BTC’s dominance has dropped below 40% which is not good for the market in general. The Fear & Greed Index is at the 13 (Extreme Fear) mark.

Things are a bit better in the DeFi market. The total value locked in DeFi has climbed to above $80 billion and it didn’t fall hard along with Bitcoin. Here are the changes in price for some of the popular DeFi coins:

  • Chainlink: -26.1%
  • Aave: -16.0%
  • Uniswap: -18.5%
  • Compound: -23.0%

It doesn’t seem likely that Bitcoin is going to drop below $30,000 in the coming days. We could climb back up to over $40,000 and then renew the lows. Keep this in mind when buying the dip.

DeFi news 

There is a lot of news from the DeFi space. Here are the most important events of the week:

  • Lowest fees ever! The transaction fees of Bitcoin and Ethereum have slumped to six-month lows from early-April’s all-time high of $62.77 to around $7.20. The same operation in the Ethereum network will cost you around $2.
  • Thailand announces a witch hunt. Thailand’s Securities and Exchange Commission (SEC) has announced that any activities related to DeFi may require a license from the financial regulator in the near future.
  • Another exploit on BSC. Belt Finance has become the latest Binance Smart Chain-based decentralized finance protocol to lose millions to an opportunistic hacker. The project lost $6.3 million in a flash loan attack.

QDAO DeFi updates

The QDAO DeFi team is keeping up the development pace and is proudly sharing last week’s updates.

QDAO DeFi Dashboard

We have almost finalized the QDAO DeFi Dashboard and have already begun the integration process. You will be able to use it in the coming weeks. Hurray!

QDAO DeFi rates

The deposit rates were adjusted in accordance with current market conditions. Please check out the changes.

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 users: 11,815

Total amount of users’ funds: 

3058443.36088 XRP

1076.84998395 ETH

178.081260715 BTC

18688742.7029 ADA

…and more.

Current users’ interest balance: 

82151.1457826 XRP

33.0901071491 ETH

4.49266658859 BTC

366202.002662 ADA

…and more.

Number of withdrawals made: 12,788

Want to be the first to hear QDAO DeFi’s 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.

QDEFIRATING.com is developed by Platinum Software Development Company – one of the most trusted and experienced engineering blockchain teams in APAC for DeFi developments.

If you want to create any DeFi dApp on any blockchain technology, such as Polkadot, Ethereum, Tron or Binance Smart Chain, we would be happy to give you a FREE 1-hour consultation and to share our experience with you.