Convex Finance

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The decentralized finance (DeFi) market witnessed very strong growth since the DeFi summer of 2020 and over the last year. We have seen several Ethereum Layer-1 competitors like Solana and Fantom coming to fame.
However, the recent crash in the crypto space has particularly hit the DeFi space very hard. Although Bitcoin witnessed a 50% correction since November 2021, some of the most popular DeFi protocols like Compound, AAVE and MakerDAO faced deeper corrections.
Apart from strong liquidations, the DeFi sector has also recently witnessed developer departures and user exodus. Pedro Herrera, senior data analyst at tracker DappRadar said that if the crypto bear market last for a year, we can probably see 80% of the DeFi apps flushed out of the market. In a word with Bloomberg, Herrera said:
“As far as crypto winter, DeFi dapps have never gone through it. They have experienced crashes, but this feels like a prologued one. Probably 20% of the apps that hold 80% of the industry value will survive. And we could see protocols that are not widely used fade away.”
As per DappRadar, currently there are 150 DeFi apps in the market that collectively hold a total of $107 billion in user funds. Amid the crypto market rout, there’s a $30 billion decline since the beginning of 2022.
Strong Loan Liquidations in DeFi
As some of the top DeFi tokens have plummeted recently, it has resulted into a cascading effect of loan liquidations. As per Dune Analytics, $300 million worth of assets in DeFi protocols have been liquidated in the last week.
Just between Jan 22 to Jan 24, more than 1,000 positions were liquidated across platforms like Compound, Aave, and MakerDAO. Spencer Bogart, general partner at Blockchain Capital said that amid the crypto market rout last week, a roughly $600 million collateralized debt position on MakerDAO was on the verge of getting liquidated.
Besides, the user activity across DeFi apps is also on the decline. Some of the active user wallets interacting with popular DApps dropped by 20-30% in the last two weeks. Also, a majority of the DeFi apps pay developers in theior own tokens. Thus, the plunging token value has forced developers to move to other protocols. Jeff Dorman, chief investment officer at Arca, said the survivors said that the survivors will emerge more stronger. Dorman said:
DeFi hasn’t had even a little bit of a blip. None of the protocols stopped working. There were no issues of users getting money out. That validates why a lot of us think this is the future of finance.
The post DappRadar: Strong Possibility of DeFi Shakeout In 2022 Amid Crypto User Exodus appeared first on CoinGape.


The decentralized finance (DeFi) market witnessed very strong growth since the DeFi summer of 2020 and over the last year. We have seen several Ethereum Layer-1 competitors like Solana and Fantom coming to fame. However, the recent crash in the crypto space has particularly hit the DeFi space ver...

coingape.com

DappRadar: Strong Possibility of DeFi Shakeout In 2022 Amid Crypto User Exodus

A surprise group of tokens is sizzling after a sudden listing by top US crypto exchange Coinbase.
In a new announcement, the exchange says that five low market cap altcoins will start trading on Coinbase Pro once appropriate liquidity conditions are met.

Cryptex Finance is an Ethereum protocol whose native token CTX provides governance and security. The protocol manages a second token called TCAP which offers investors exposure to the total cryptocurrency market cap.
Cryptex Finance initially jumped 30.7% from $7.60 to $9.94 but has seen choppy price action since. It’s currently up 49.02% today and trading for $11.06.
Also getting the green light from Coinbase Pro is Dia (DIA), whose abbreviation stands for “Decentralized Information Asset.” The project offers cross-chain and open-source oracles for Web 3.0.
Dia roared 53.4% from $0.73 to $1.12 and has since fought its way to $1.20, marking a 54.19% gain on the day.
Next up is Maple (MPL), a financing protocol that offers both institutional borrowing and fixed-income lending across the decentralized finance (DeFi) space.
Maple immediately jumped from $9.92 to $11.71 but didn’t stop there. MPL is currently trading for $15.99, marking a total gain of 61.1%.
Another altcoin joining the Coinbase Pro roster is Pluton (PLU), a financial services app that’s based in Europe. Users can earn rewards as well as swap crypto assets on the platform.
News of the Coinbase announcement sent Pluton vertical, increasing 242% from $6.78 to $16.43 in a flash. PLU peaked at $17.44 before correcting, but remains up 143% on the day at $15.52.
Last on the list is Unifi Protocol DAO (NFI), which utilizes DeFi to allow staking with a number of digital assets.
Unifi Protocol DAO also shot off the launch pad and leaped nearly 42% from $4.43 to $6.29. UNFI has retraced a bit but is still up 30.36% on the day and trades for $5.76.
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Featured Image: Shutterstock/diversepixel/Nikelser Kate
The post Coinbase Suddenly Lists Five New Altcoin Projects Triggering Parabolic Rallies appeared first on The Daily Hodl.


A surprise group of tokens is sizzling after a sudden listing by top US crypto exchange Coinbase. In a new announcement, the exchange says that five low market cap altcoins will start trading on Coinbase Pro once appropriate liquidity conditions are met. Cryptex Finance is an Ethereum protocol wh...

dailyhodl.com

Coinbase Suddenly Lists Five New Altcoin Projects Triggering Parabolic Rallies

FTM price lost almost half its value in last week’s market carnage. However, the buyers still refuse to drop below the $2 mark, indicating a high point for reversal. Moreover, according to analysis tool DeFiLlama, Fantom has become the third-largest decentralized finance (DeFi) ecosystem in terms of total value locked(12.39B).
Key technical points: 

The daily-Stochastic indicator shows a bullish crossover among the K and D line
The intraday trading volume in the FTM coin is $2.18 Billion, indicating a 26% hike.

Source- Tradingview
As we mentioned in our previous coverage on Fantom technical analysis, the FTM price slashed by 46% from the All-Time High of $3.48 and plummeted to the $2 support. Coin buyers expressed high interest in this discounted price, resulting in a long bullish candle on the weekend.
On January 24th, the sellers tried to regain control over the coin by pushing it below the $2 mark; however, the increasing underlying bullish rejected the price with a long wick, indicating high demand.
The FTM/USD pair trading above the 100 and 200 EMA maintains a bullish trend. However, the recently flipped 50 EMA resistance puts strong selling pressure on the rising price.
The daily-Stochastic RSI provides a bullish crossover of the K and D line, supporting a bullish reversal.
Double bottom Breakout Hints Recovery Bell For FTM
Source-Tradingview
The recent price jump in FTM/USD has formed a double bottom pattern in the 4-hour time frame chart. The coin price has spiked 23% from the $2 support and now challenges the $2.4 neckline for a bullish breakout.
The 4-hour Relative Strength index(52) shows impressive recovery from the oversold region. Moreover, the RSI slope projects a bullish divergence, projecting a high possibility for a double bottom breakout.

Resistance levels- $2.4, $2.7
Support levels are $2 and $1.2

The post Fakeout Or Breakout? Hidden RSI Divergence Teases Bullish Breakout For FTM Price appeared first on CoinGape.


FTM price lost almost half its value in last week&#8217;s market carnage. However, the buyers still refuse to drop below the $2 mark, indicating a high point for reversal. Moreover, according to analysis tool DeFiLlama, Fantom has become the third-largest decentralized finance (DeFi) ecosystem in...

Fakeout Or Breakout? Hidden RSI Divergence Teases Bullish Breakout For FTM Price

The total value locked (TVL) in decentralized finance (defi) protocols has lost ​​6.8% during the last 24 hours as crypto markets have experienced more losses. However, the Fantom blockchain has seen a TVL increase, jumping 46.62% over the last week. Fantom has managed to knock Binance Smart Chain (BSC) down a notch, as it now holds the third-largest share in the world of defi.
Fantom’s Total Value Locked in Decentralized Finance Jumps 46% in 7 Days
The defi and smart chain blockchain project Fantom has officially surpassed BSC in terms of TVL in defi protocols this week. On January 24, 2022, Fantom currently holds $11.73 billion, increasing by 46.62% in seven days.
While year-to-date, Fantom’s native token fantom (FTM) is up 4,671.7% against the U.S. dollar, over the last two weeks, FTM has lost 18.6%. Today, there’s $1.6 billion in FTM trade volume and the project has a market valuation of around $4.9 billion.

Out of the $1.6 trillion crypto economy, the defi token fantom’s (FTM) overall valuation represents 0.31% of the aggregate. In terms of the $510 billion smart contract platforms, Fantom is the 13th largest blockchain, below Tron and above Stellar.

Tether (USDT) captures 84.26% of today’s FTM trades, followed by BUSD with 5.8% of FTM pairs. The U.S. dollar commands 5.15% of FTM swaps while bitcoin (BTC) has around 3.25% of the FTM share. The Turkish lira (TRY) has around 0.74% of all the fantom (FTM) swaps today.

While fantom (FTM) is widely traded on decentralized exchange (dex) applications, the top centralized exchange offering FTM is Binance’s 48.96% share followed by Okex with 20.81%. Okex is followed by Digifinex, Kucoin, and Hitbtc in terms of the most active fantom (FTM) centralized exchanges.

Fantom’s $11.73 billion TVL in defi is just above BSC’s $11.36 billion TVL. Above Fantom is Terra’s TVL in defi today with $15.75 billion, but Terra’s TVL has slid by 17.51% this week. BSC lost 19.73% during the last week and has seen around 4.36% in TVL leave in the last 24 hours.

The largest defi protocol on Fantom is Multichain with a dominance of 59.79% of Fantom’s $11.73 billion. Multichain’s $7.02 billion TVL is followed by 0xDAO ($3.94B), and Spookyswap ($957.16M). These three protocols command the lion’s share of Fantom’s total value locked in defi.
Fantom currently has the largest TVL in cross-chain bridges today as well, with $5.2 billion locked. In the last seven days, cross-chain bridge TVL on Fantom has increased 149%.
What do you think about the Fantom blockchain’s recent defi action this past week? Let us know what you think about this subject in the comments section below. 



























The total value locked (TVL) in decentralized finance (defi) protocols has lost &#x200B;&#x200B;6.8% during the last 24 hours as crypto markets have experienced more losses. However, the Fantom blockchain has seen a TVL increase, jumping 46.62% over the last week. Fantom has managed to knock Bina...

news.bitcoin.com

Fantom Surpasses Binance Smart Chain as the Third-Largest Defi Blockchain

The value locked in decentralized finance (defi) has dropped 21.22% since January 4, 2022. At the time, the total value locked (TVL) in defi was $255.84 billion and today, the TVL is around $201.55 billion.
TVL in Defi Loses $54 Billion in 2 Weeks
While digital currency markets shed significant value during the last two weeks, the value locked in decentralized finance has also dropped considerably. Since the first week of January, the TVL in defi shed $54.29 billion in value.
Today, the TVL in defi is $201.55 billion which is down 1.19% over the last 24 hours. While defi has seen a significant dip in value, overall it has more than doubled its share of the crypto economy.

Since the start of 2021, the share of defi in the crypto economy has “more than doubled from 2.8% to an all-time high of 6.5%,” according to stats from Coingecko.com’s annual crypto report.
At the time of writing, the defi protocol Curve Finance has a dominance rating of 9.69% of the $201 billion locked. Curve is active on eight different blockchains and has a TVL of around $19.53 billion. Metrics show Curve’s TVL is down 16.34% over the last seven days. Curve is followed by Makerdao, Convex Finance, Aave, and WBTC, respectively, in terms of total value locked.

Ethereum Defi Dominance Still Reigns, Fantom’s TVL Jumps 59%
While the TVL in defi today is $201 billion, the value locked in Ethereum is $119.04 billion. Ethereum’s TVL represents 59.06% of the aggregate TVL across all defi protocols on Sunday morning (EST).
Terra’s blockchain commands $16.94 billion, followed by Binance Smart Chain’s $12.22 billion. Fantom commands the fourth largest position in terms of TVL held by a specific blockchain with $12.06 billion today.
Avalanche holds the fifth-largest position with $8.62 billion TVL and Solana commands the sixth top spot with $8.12 billion. Terra’s largest defi protocol is the application Anchor, BSC’s biggest is Pancakeswap, and Fantom’s is the Multichain protocol.
Avalanche’s biggest defi protocol on Sunday is Aave and Solana’s is the application Serum. While most blockchains shed value this past week, Fantom’s TVL jumped 59.61% and Heco’s TVL spiked by 52.77% in seven days.
What do you think about the latest action in the world of decentralized finance? Let us know what you think about this subject in the comments section below.



























The value locked in decentralized finance (defi) has dropped 21.22% since January 4, 2022. At the time, the total value locked (TVL) in defi was $255.84 billion and today, the TVL is around $201.55 billion. TVL in Defi Loses $54 Billion in 2 Weeks While digital currency markets shed significant v...

Convex Finance price	$27.73
Low - High 24H	$26.47 - $29.28
Market cap	$1.38B
Volume 24H	$13.52M
All time high	$60.09 -52.37% January 1st 2022
All time low	$1.90 1404.11% July 20th 2021
Genesis date	N/A

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