QDAO DeFi Weekly Update #32
June 11, 2021
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.
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.
We’ve added new video guides to our YouTube channel to help you expand your crypto knowledge:
- Step By Step Guide On How To Earn Passive Income with JulSwap: https://youtu.be/ZxF3wgDHZF8
- Chinese digital yuan might run on Ethereum | GameStop to launch NFT platform | Burger Swap hacked: https://youtu.be/p6vnQZk3PcE
- A Step-by-Step Guide to Staking in Pancake Bunny Yield Aggregator: https://youtu.be/lJRroQEvEtc
- Lending BUSD on Alpaca Finance; ibBUSD staking: https://youtu.be/lwJA5MFyl78
- Step-by-Step Guide on How to Make a Profit on Autofarm: https://youtu.be/tQGDo8YFtyE
- Will we see a bearish trend in the crypto market any time soon?: https://youtu.be/Nu1879E9QPY
- China bans crypto; Bloomberg says BTC price will reach $100k; Vitalik Buterin criticizes Elon Musk: https://youtu.be/X98wdts-SZU
- Pros and Cons of the FryWorld project: https://youtu.be/8EvgCsQZnZs
- What makes the NFT Ethernity platform stand out? A detailed look at the project: https://youtu.be/VJzWFqzYjfU
- How to Stake and Borrow on Lendhub, the Top HECO Project: https://youtu.be/KTIclJfGXWU
- Facebook holding crypto, Binance to launch NFT marketplace, Mastercard partners with Gemini: https://youtu.be/GjLglnyxKng
The latest stats from QDAO DeFi PULSE:
Number of users: 11,815
Total amount of users’ funds:
Current users’ interest balance:
Number of withdrawals made: 12,788
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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.