Solend users vote to limit a whale to avoid major liquidation. USDC tops USDT in the daily number of transactions but not in volume. Bancor pauses impermanent loss protection.
Key Takeaways
- Solend users, a Solana (SOL)-based DeFi platform, voted to limit the platform’s largest whale account to avoid a major liquidation event.
- USDC surpassed USDT‘s daily transactions on Ethereum (ETH). However, USDT maintained a significantly greater trading volume of US$55 billion against USDC‘s US$5.7 billion.
- Bancor (BNT) protocol paused its impermanent loss protection mechanism citing adverse market conditions.
- This week’s price index was positive at +31.68%, while the volume and volatility indices were negative at -0.11% and -32.47%, respectively.
Highlights
- Celsius (CEL) recovery plan proposed amid community-led short-squeeze attempt
- Goldman Sachs leading investor group to buy Celsius assets: Sources
- Nexo threatens legal action against anonymous Twitter account
- Lido DAO (LDO) begins voting on whether to limit its Ethereum staking dominance
- Curve staking platform Convex suffers DNS hijacking
- Crypto broker Voyager lowers daily withdrawal limits from $25K to $10K
- Tether launches stablecoin pegged to the British Pound Sterling
- Tether (USDT) to undertake full audit by top 12 firm for transparency over USDT reserves
- MakerDAO pauses AAVE lending activities
- Uniswap (UNI) tops Ethereum in terms of daily fees
- DeFi moves into real estate with Tower Fund and Teller Protocol partnership
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Authors
Crypto.com Research and Insights team
