Total value locked in DeFi drops 70% in 2022 to below $100 billion 💥
After the cryptocurrency sector recorded a dramatic increase in the total value locked (TVL) across all decentralized finance (DeFi) platforms in 2021 thanks to attracting major capital, the tables seem to be turning in 2022. Specifically, the TVL recorded in December 2021 stood at a whopping $303.8 billion, only to drop to $96.3 billion in September 2022.
As per this data, the TVL in DeFi decreased by 10% in the last 30 days, from $106 billion where it stood a month ago, to the current $96.3 billion. Notably, the dominance of Ethereum (ETH) in the DeFi space continues, as it accounts for $56.3 billion or 58.46% of the entire DeFi TVL. Ethereum is followed by Tron (TRX) with $11.9 billion in TVL, BNB Chain (BNB) with $8.6 billion, Avalanche (AVAX) at $3.5 billion, and Solana (SOL) with $2.3 billion. Interestingly, in May 2022, Ethereum’s TVL in DeFi shrank 35% amid bearish markets, whereas Tron’s.
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🧷 Source
After the cryptocurrency sector recorded a dramatic increase in the total value locked (TVL) across all decentralized finance (DeFi) platforms in 2021 thanks to attracting major capital, the tables seem to be turning in 2022. Specifically, the TVL recorded in December 2021 stood at a whopping $303.8 billion, only to drop to $96.3 billion in September 2022.
As per this data, the TVL in DeFi decreased by 10% in the last 30 days, from $106 billion where it stood a month ago, to the current $96.3 billion. Notably, the dominance of Ethereum (ETH) in the DeFi space continues, as it accounts for $56.3 billion or 58.46% of the entire DeFi TVL. Ethereum is followed by Tron (TRX) with $11.9 billion in TVL, BNB Chain (BNB) with $8.6 billion, Avalanche (AVAX) at $3.5 billion, and Solana (SOL) with $2.3 billion. Interestingly, in May 2022, Ethereum’s TVL in DeFi shrank 35% amid bearish markets, whereas Tron’s.
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🧷 Source
Forwarded from Glassnode
In the latest edition of the Market Pulse, we deep dive into the RVT Ratio and how it captures shifts in Bitcoin macro market cycles.
We also explore two new RVT Ratio variations and new analysis frameworks.
Join the Discussion on Glassnode Forum
We also explore two new RVT Ratio variations and new analysis frameworks.
Join the Discussion on Glassnode Forum
Crypto market adds over $50 billion in 24 hours as Bitcoin surges past $20,000
Bitcoin (BTC) surged beyond the $20,000 level as the cryptocurrency market as a whole pushed closer to the all-important $1 trillion market value. This increase was supported by a lull in the turbulence that has been gripping global markets this week. according to data retrieved by Finbold from CoinMarketCap.
The climb represents a 5.48% increase over the last day with the total crypto market volume over the last 24 hours being $85.68 billion, making a 47.30% increase. Elsewhere the flagship digital asset is trading at $23,216, up 7.03% in the last 24 hours and a 4.47% across the previous seven days. Bitcoin’s total market value now stands at $388 billion, with a dominance of currently 39.84%, an increase of 0.65% over the day. The gains occurred during a period of relative calm in global markets.
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🧷 Source
Bitcoin (BTC) surged beyond the $20,000 level as the cryptocurrency market as a whole pushed closer to the all-important $1 trillion market value. This increase was supported by a lull in the turbulence that has been gripping global markets this week. according to data retrieved by Finbold from CoinMarketCap.
The climb represents a 5.48% increase over the last day with the total crypto market volume over the last 24 hours being $85.68 billion, making a 47.30% increase. Elsewhere the flagship digital asset is trading at $23,216, up 7.03% in the last 24 hours and a 4.47% across the previous seven days. Bitcoin’s total market value now stands at $388 billion, with a dominance of currently 39.84%, an increase of 0.65% over the day. The gains occurred during a period of relative calm in global markets.
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🧷 Source
📰 Good evening everyone! I hope you're doing well. 89%. That's the probability of a recession in the US in the next few months...
📉 The S&P 500 is at a 2022 low. The Dow is down more than 20% from its January high, which means it has entered a bear market.
📉 Tech stocks had their worst 2-week move since the pandemic began! Due to inflation and a strong dollar, these companies may not meet 2022 estimates. These failed results could cause the Nasdaq 100, already down 31% year-to-date, to plunge more than 10%. Hold on to your hats...
📉📈 70% of investors surveyed by Bloomberg think the Nasdaq will first hit 10,000 (down 7.5%) to rally to 14,000 (up 30%) in the next few months.
📦 For the first time, Amazon will hold a Prime Day twice in the same year. These two days (October 11 and 12) will allow Prime members to benefit from hundreds of thousands of offers, on a multitude of products. The goal for Amazon is? Boost its profits, which are slowing down a bit.
😱 Russia's invasion of Ukraine could cost the global economy $2.8 trillion in lost production by the end of next year.
💥 Speaking of which, the energy dispute between Russia and Europe is escalating quite a bit. Three pipelines have been closed since the war in Ukraine began but were still filled with gas. However, major leaks have been spotted, with German and American officials saying it looks like sabotage. Seismologists confirmed hearing two explosions before the leak began.
😬 Are GIFS already a thing of the past? That's what the company behind the animations, Giphy, says to facilitate its buyout by Meta. The sale is on hold because of the English regulator who manages compliance with competition rules. Giphy is looking to show that GIFS are "for boomers" and are "cringe" to conclude that no other company than Meta is willing to buy it.
💰 Strike, the mobile payments app that facilitates instant transactions via the Bitcoin blockchain, has raised money again: $80 million.
👏 Nexo (crypto exchange platform) has taken a stake in the bank holding company that owns Summit National Bank (US bank). This deal will allow Nexo to offer its US customers, banking services using this bank's infrastructure.
👋 Celsius CEO Alex Mashinsky no longer wants to run the company. Celsius Network is a crypto lender that was declared bankrupt a few months ago because the company couldn't pay back all the customers who asked for it.
🏰 Disney's latest job postings hint at big NFT and crypto projects. The company is looking to hire legal counsel with a focus on NFT and DeFi (decentralized finance).
🇨🇳 The World Bank has cut its economic forecast for China with growth expected to be just 2.8% in 2022. This is the first time since 1990, that countries in Asia are expected to grow faster than China.
Have a nice evening and see you tomorrow!
❤️
--
https://linktr.ee/snowball.xyz
📉 The S&P 500 is at a 2022 low. The Dow is down more than 20% from its January high, which means it has entered a bear market.
📉 Tech stocks had their worst 2-week move since the pandemic began! Due to inflation and a strong dollar, these companies may not meet 2022 estimates. These failed results could cause the Nasdaq 100, already down 31% year-to-date, to plunge more than 10%. Hold on to your hats...
📉📈 70% of investors surveyed by Bloomberg think the Nasdaq will first hit 10,000 (down 7.5%) to rally to 14,000 (up 30%) in the next few months.
📦 For the first time, Amazon will hold a Prime Day twice in the same year. These two days (October 11 and 12) will allow Prime members to benefit from hundreds of thousands of offers, on a multitude of products. The goal for Amazon is? Boost its profits, which are slowing down a bit.
😱 Russia's invasion of Ukraine could cost the global economy $2.8 trillion in lost production by the end of next year.
💥 Speaking of which, the energy dispute between Russia and Europe is escalating quite a bit. Three pipelines have been closed since the war in Ukraine began but were still filled with gas. However, major leaks have been spotted, with German and American officials saying it looks like sabotage. Seismologists confirmed hearing two explosions before the leak began.
😬 Are GIFS already a thing of the past? That's what the company behind the animations, Giphy, says to facilitate its buyout by Meta. The sale is on hold because of the English regulator who manages compliance with competition rules. Giphy is looking to show that GIFS are "for boomers" and are "cringe" to conclude that no other company than Meta is willing to buy it.
💰 Strike, the mobile payments app that facilitates instant transactions via the Bitcoin blockchain, has raised money again: $80 million.
👏 Nexo (crypto exchange platform) has taken a stake in the bank holding company that owns Summit National Bank (US bank). This deal will allow Nexo to offer its US customers, banking services using this bank's infrastructure.
👋 Celsius CEO Alex Mashinsky no longer wants to run the company. Celsius Network is a crypto lender that was declared bankrupt a few months ago because the company couldn't pay back all the customers who asked for it.
🏰 Disney's latest job postings hint at big NFT and crypto projects. The company is looking to hire legal counsel with a focus on NFT and DeFi (decentralized finance).
🇨🇳 The World Bank has cut its economic forecast for China with growth expected to be just 2.8% in 2022. This is the first time since 1990, that countries in Asia are expected to grow faster than China.
Have a nice evening and see you tomorrow!
❤️
--
https://linktr.ee/snowball.xyz
Forwarded from Glassnode
#Bitcoin Miner Balance has seen large outflows since prices rejected from the local high of $24.5k.
This suggests aggregate Miner profitability is still under a degree of stress with ~8k $BTC/month being spent to cover USD denominated costs
Live Chart
This suggests aggregate Miner profitability is still under a degree of stress with ~8k $BTC/month being spent to cover USD denominated costs
Live Chart
Summary of the day, September 29
🇪🇺 The European Union may impose a ban on any payments by Russians to European cryptocurrency wallets as part of new sanctions.
🧬 Circle, the issuer of stablcoin USDC, will launch its own crosschain protocol - this will make USDC compatible in different blockchains.
🇰🇿 The President of Kazakhstan declared his readiness to develop the cryptoindustry in the country - Kazakhstan plans to become a leading player in new digital technologies, cryptocurrency ecosystem, as well as regulated and transparent mining.
🇺🇸 Analysts have noted a marked increase in the interest of Russians in buying cryptocurrencies and hardware cryptocurrency wallets.
💶 The European Union may impose a limit on the volume of transactions in stablecoins with collateral other than EUR - it is proposed to introduce a daily limit of 200 million euros.
🇬🇮 Gibraltar actively accepts Bitcoin as payment - a cup of Costa Coffee Gibraltar will cost 12,724 Satoshi ($2.46), and gift cards can be purchased for 15,035 Satoshi ($2.9).
⛓ SWIFT entered into an agreement with Chainlink to work on a proof-of-concept (POC) project that will allow traditional financial institutions to conduct crosschain transactions across different blockchains.
💼 BlackRock launched a new blockchain ETF for European clients.
—
Source: @DeCenter
🇪🇺 The European Union may impose a ban on any payments by Russians to European cryptocurrency wallets as part of new sanctions.
🧬 Circle, the issuer of stablcoin USDC, will launch its own crosschain protocol - this will make USDC compatible in different blockchains.
🇰🇿 The President of Kazakhstan declared his readiness to develop the cryptoindustry in the country - Kazakhstan plans to become a leading player in new digital technologies, cryptocurrency ecosystem, as well as regulated and transparent mining.
🇺🇸 Analysts have noted a marked increase in the interest of Russians in buying cryptocurrencies and hardware cryptocurrency wallets.
💶 The European Union may impose a limit on the volume of transactions in stablecoins with collateral other than EUR - it is proposed to introduce a daily limit of 200 million euros.
🇬🇮 Gibraltar actively accepts Bitcoin as payment - a cup of Costa Coffee Gibraltar will cost 12,724 Satoshi ($2.46), and gift cards can be purchased for 15,035 Satoshi ($2.9).
⛓ SWIFT entered into an agreement with Chainlink to work on a proof-of-concept (POC) project that will allow traditional financial institutions to conduct crosschain transactions across different blockchains.
💼 BlackRock launched a new blockchain ETF for European clients.
—
Source: @DeCenter
Forwarded from Glassnode
September was an exciting month, with the Glassnode team delivering our brand new suite of #Ethereum Merge and Proof-of-Stake metrics.
Monthly highlights:
- 16x New Metrics
- 19x Workbench Constructions
- 2x New Dashboards
- 8x Research Reports
Read about our latest Product Updates for September
Monthly highlights:
- 16x New Metrics
- 19x Workbench Constructions
- 2x New Dashboards
- 8x Research Reports
Read about our latest Product Updates for September
Glassnode Insights - On-Chain Market Intelligence
Product Update: September 2022
September was an extremely exciting month for Glassnode, engaging our entire team from engineering, data scientists, and analysts, to deploy a brand new suite of Ethereum Merge and Proof-of-Stake metrics. A brief summary of the metrics, content, and product…
📰 Good evening to all of you! I hope you are having a great Friday.
👏 California passed a law requiring its employers to post salary schedules on all job postings.
👩 The U.S. Department of Justice is paying an additional $372 million to the victims of Bernard Madoff, one of the most notorious Ponzi scheme creators.
💊 Biogen's stock soared 40% on news of a successful Alzheimer's clinical trial. The pharmaceutical giant is hoping for big sales after big spending. Indeed, the reward can be high. For example, for just 8 drugs launched by Roche in the last 5 years, the sales potential is $100 billion.
🖼 Meta opens up NFTs sharing to US Facebook users and all Instagram users in 100 countries where digital works are available.
📉 This is a first for Meta: the giant will be cutting its workforce and budget for all its teams. This budget reduction hints at slowing ad revenue growth as competition for users' attention only increases.
Not all companies are experiencing the economic downturn:
▪️🚂 Lego's sales increased 17% in the first half of 2022.
▪️🩴 Hey Dude, a shoe brand acquired by Crocs this year for about $2.5 billion, saw its second-half sales jump 96% year over year. It's on track to reach $1 billion in sales by 2022.
💵 Circle announced that USDC (the second largest stablecoin in the market) will be available in early 2023 on 5 new blockchains: Optimism, Polkadot, Cosmos, NEAR, and Arbitrum.
👋 Google plans to shut down Stadia, its cloud gaming service, in January 2023. A refund for Stadia hardware and software as well as all games and additional content purchased from the Google Store is planned.
🤑 The Savvy Gaming Group, a government-funded Saudi conglomerate, will invest $37.8 billion in the gaming sector to expand its influence in the field.
Have a nice evening and a great weekend. 🙂
❤️
--
Source: https://linktr.ee/snowball.xyz
👏 California passed a law requiring its employers to post salary schedules on all job postings.
👩 The U.S. Department of Justice is paying an additional $372 million to the victims of Bernard Madoff, one of the most notorious Ponzi scheme creators.
💊 Biogen's stock soared 40% on news of a successful Alzheimer's clinical trial. The pharmaceutical giant is hoping for big sales after big spending. Indeed, the reward can be high. For example, for just 8 drugs launched by Roche in the last 5 years, the sales potential is $100 billion.
🖼 Meta opens up NFTs sharing to US Facebook users and all Instagram users in 100 countries where digital works are available.
📉 This is a first for Meta: the giant will be cutting its workforce and budget for all its teams. This budget reduction hints at slowing ad revenue growth as competition for users' attention only increases.
Not all companies are experiencing the economic downturn:
▪️🚂 Lego's sales increased 17% in the first half of 2022.
▪️🩴 Hey Dude, a shoe brand acquired by Crocs this year for about $2.5 billion, saw its second-half sales jump 96% year over year. It's on track to reach $1 billion in sales by 2022.
💵 Circle announced that USDC (the second largest stablecoin in the market) will be available in early 2023 on 5 new blockchains: Optimism, Polkadot, Cosmos, NEAR, and Arbitrum.
👋 Google plans to shut down Stadia, its cloud gaming service, in January 2023. A refund for Stadia hardware and software as well as all games and additional content purchased from the Google Store is planned.
🤑 The Savvy Gaming Group, a government-funded Saudi conglomerate, will invest $37.8 billion in the gaming sector to expand its influence in the field.
Have a nice evening and a great weekend. 🙂
❤️
--
Source: https://linktr.ee/snowball.xyz
Forwarded from Glassnode
As global equity and bond markets continue to tread challenging ground, #Bitcoin hashrate defies the odds, pushing to yet another all-time high.
This week, we deep dive into $BTC mining to assess if the worst of the capitulation is over, or not.
Read more in The Week On-chain
This week, we deep dive into $BTC mining to assess if the worst of the capitulation is over, or not.
Read more in The Week On-chain
Glassnode Insights - On-Chain Market Intelligence
Hashrate Hits New Highs
As global equity and bond markets continue to tread challenging ground, Bitcoin hashrate defies the odds, pushing to yet another all-time high. In this piece, we deep dive into the mining sector to assess whether the worst of the miner capitulation is over…
📰 Hello to all of you! I hope your weekend went well and that the week is off to a great start!
🤑 With a 7.6% stake, crypto billionaire Sam Bankman-Fried (founder of crypto trading platform FTX), becomes the third largest shareholder of Robinhood (trading platform). Robinhood shares jumped 29% after the news.
🤯 Using AI, a new model created by Meta, can create videos from rough descriptions of a scene. Currently closed to the public, Meta has not indicated when, or how, access to the model will happen. (Examples can be found via the Linktree link)
🤖 At Tesla's AI day, Musk showed off a prototype of the Optimus humanoid robot. He said that this robot will "probably" cost less than $20,000 and it uses the same Autopilot system as Tesla cars.
😱 Tencent is no longer China's largest company. The online gaming company's shares have fallen 64% since January 2021, wiping out $623 billion in market capitalization. That's more than any other company in the world.
💰 At the same time, Tencent is redefining its M&A strategy. Its goal is to become a majority shareholder in European game companies, mainly.
🤳 A U.S. survey reveals that 86% of Generation Z (18-25 years old) have a "somewhat" or "very" favorable opinion of YouTube, 73% of Instagram, and only 69% of TikTok. TikTok is the star, but not a very well-regarded star...
🇮🇳 India is creating a digital platform to make it easier to start factories in the country and thus compete with China. This project named PM Gati Shakti, estimated at $1200 billion will offer companies a one-stop shop for project design, quick approvals, and much easier cost estimation than before.
▪️The country hopes the acceleration of projects will give the country an edge, especially since China remains largely closed to the outside world at the moment because of Covid.
▪️The MSCI India Index rose nearly 10% over the past quarter, compared to a 23% drop in the MSCI China Index. Both indexes are good indicators for assessing the economic health of both countries.
Have a nice evening and a good start to the week!
❤️
--
Source: https://linktr.ee/snowball.xyz
🤑 With a 7.6% stake, crypto billionaire Sam Bankman-Fried (founder of crypto trading platform FTX), becomes the third largest shareholder of Robinhood (trading platform). Robinhood shares jumped 29% after the news.
🤯 Using AI, a new model created by Meta, can create videos from rough descriptions of a scene. Currently closed to the public, Meta has not indicated when, or how, access to the model will happen. (Examples can be found via the Linktree link)
🤖 At Tesla's AI day, Musk showed off a prototype of the Optimus humanoid robot. He said that this robot will "probably" cost less than $20,000 and it uses the same Autopilot system as Tesla cars.
😱 Tencent is no longer China's largest company. The online gaming company's shares have fallen 64% since January 2021, wiping out $623 billion in market capitalization. That's more than any other company in the world.
💰 At the same time, Tencent is redefining its M&A strategy. Its goal is to become a majority shareholder in European game companies, mainly.
🤳 A U.S. survey reveals that 86% of Generation Z (18-25 years old) have a "somewhat" or "very" favorable opinion of YouTube, 73% of Instagram, and only 69% of TikTok. TikTok is the star, but not a very well-regarded star...
🇮🇳 India is creating a digital platform to make it easier to start factories in the country and thus compete with China. This project named PM Gati Shakti, estimated at $1200 billion will offer companies a one-stop shop for project design, quick approvals, and much easier cost estimation than before.
▪️The country hopes the acceleration of projects will give the country an edge, especially since China remains largely closed to the outside world at the moment because of Covid.
▪️The MSCI India Index rose nearly 10% over the past quarter, compared to a 23% drop in the MSCI China Index. Both indexes are good indicators for assessing the economic health of both countries.
Have a nice evening and a good start to the week!
❤️
--
Source: https://linktr.ee/snowball.xyz
Daily Market Brief - 04.10.2022
Market glance
Total market cap: $949,733,617,920
BTC Dominance: 39.90%
The crypto market is pushing higher today. Yet Bitcoin is still trading below $20k while Ethereum has risen again above $1300. The digital asset total market cap is hovering around $900 million dollar market cap. The bitcoin dominance remains below 40%. Technically speaking the BTC indicators are very bullish for the day.
Market glance
Total market cap: $949,733,617,920
BTC Dominance: 39.90%
The crypto market is pushing higher today. Yet Bitcoin is still trading below $20k while Ethereum has risen again above $1300. The digital asset total market cap is hovering around $900 million dollar market cap. The bitcoin dominance remains below 40%. Technically speaking the BTC indicators are very bullish for the day.