It has been an eventful week, with BTC skirting with 10k, and Kik and Cooley coming together to defend Crypto. There sure is skin-in-the-game here, so Taleb should be happy. However, doesn’t this just put a big Red X on the backs of Mssrs Kik and Cooley, from a regulatory perspective? Maybe attack is the best defence, as they say in football (soccer). Also, Egypt is considering lifting its ban on cryptocurrencies.
And now on to our weekly metrics watch…
Ethereum Locked in DeFi
MakerDAO still accounts for a lion’s share of ETH locked up in collateral, with about 1.76 million of ETH locked up. Uniswap, Compound and Augur showed w/w increases, but Maker showed a decline of 7% w/w.
Lightning Network Growth:
Capacity per channel showed a moderate growth of 1% w/w. The total number of nodes also increased w/w by 1%, while the total number of channels decreased by 2%.
(For reference, some previous articles on LN, here).
Trading volumes on DEXs have increased on a w/w basis, with the average daily trading volume averaging 35k ETH for this week. IDEX remains the biggest DEX in terms of trading volume and DAI is the highest traded cryptocurrency on DEXs.
Crypto Loans Tracker:
Total loans issued on Compound for the last week stands at approx. $4.6 million for the week, a steep increase from $2.1 million in the previous week. WETH is the most borrowed cryptocurrency on Compound followed by DAI and BAT.
Total loans issued on Dharma Lever for the last week stands at approx. $147k for the week, a significant decline from the previous week. DAI is the most borrowed cryptocurrency on Compound followed by WETH and USDC.
DAI loans issued on MakerDAO for this week stand at ~$6.1 million, a multifold increase from $1.7 million last week. The total outstanding DAI debt currently stands at ~$83 million.