The amount of BTC anchored on ETH exceeds 38,000 pieces, an increase of 73% in one week, becoming the strongest side chain of BTC

In the past week, the market enthusiasm brought by DeFi has not diminished, but has become even crazier.

Mining from YAM, mining in CRV, and a joke memes project can have a daily turnover of 750,000 US dollars.

Some people say that the collapse of YAM and the sharp drop of CRV are all cutting leeks, but everyone’s enthusiasm for participation has not diminished. Who is losing money and who is making money?

Some people say that DeFi hotspots are like ICOs in 2017, all hype. Don't just see the similarities and ignore the differences. Experience can make you avoid pitfalls, but it can also restrain you.

1. With DeFi, the public chain will rise

Up to now, every public chain has said that it wants to engage in DeFi, and it feels that if it does not engage in DeFi, it will be eliminated by the times.

However, this is true. If you don’t engage in DeFi, what else can the public chain do? At least, if you make an announcement saying to engage in DeFi, the price of the currency can explode. But DeFi is not so easy to do, you have to have assets.

SumSwap has opened two new trading pairs of ETH/DAI and SUM/DAI: According to official news, SumSwap, a mathematical innovation decentralized protocol, has opened two new trading pairs of ETH/DAI and SUM/DAI. So far SumSwap has opened SUM/USDT, There are three trading pairs of ETH/DAI and SUM/DAI. The first few trading pairs in the SumSwap design were created by the project party. When the time is ripe, SumSwap will enable the creation of trading pairs. At that time, any user can create trading pairs through SumSwap.

SumSwap is a decentralized agreement for British technology geeks to integrate and innovate the current DeFi. Its platform token SUM has currently been traded on the three major decentralized exchanges SumSwap, Uniswap and Sushi. [2021/6/10 23:27:43]

EOS, which has been quiet for a long time, is also engaged in DeFi. The difference is that BM said that EOS is designed for DeFi. Just this sentence made EOS pull a lot.

OKEx will adjust the minimum price accuracy of ETHUSD and LTCUSD delivery contracts at 17:00 on March 18: According to the official announcement, OKEx will adjust the precision of ETHUSD and LTCUSD delivery contracts at 17:00 on March 18, 2021 (HKT). The minimum price accuracy, please click "View Details" for the specific adjustment plan. [2021/3/11 18:36:11]

Brother Sun is more straightforward. TRX is making every effort to enter DeFi, and at the same time shouting out 100 times coins.

For TRX and EOS, which one are you more optimistic about the next increase?

ETH rose by more than 2.50% within 5 minutes: According to data from Huobi Global, ETH/USDT fluctuated violently within 5 minutes, rising by more than 2.50%, reaching 2.57%. The current quotation is $255.70, and the market fluctuates greatly, please pay attention to risk control. [2020/7/23]

2. DeFi lock-up volume and BTC anchor volume

Back to DeFi on ETH, this is the main battlefield of DeFi. In the past week, the amount of funds locked in DeFi on ETH has risen again, reaching more than 7.5 billion US dollars.

The rapid increase in locked positions is due to the popularity of mining, and more directly, it is due to the launch of CRV liquidity mining.

Whether DeFi is good or not, just shouting slogans is not enough, and everyone has to vote with funds. The total assets locked on the chain is the most authentic verification of voting with your feet.

ETH continues to rise and breaks through $120: data from Huobi Global shows that ETH continues to rise and has now exceeded $120, an intraday increase of about 3.95%, and the current price is $120.42. The market fluctuates greatly, please do a good job in risk control. [2020/3/19]

Stimulated by CRV liquidity mining, there are three DeFi projects on ETH with a lock-up volume of more than 1 billion US dollars, and the stimulus effect of liquidity mining is too strong. Next, look forward to whether Aave’s liquidity mining will bring a different kind of violence.

The increase in the amount of locked positions in DeFi can be broken down to see the total amount of BTC migrating to ETH, as shown in the figure below.

On August 9, 2020, the total issuance of BTC-anchored coins on ETH was 21,923, including 16,472 WBTC and 2,570 renBTC.

On August 16, 2020, the total issuance of BTC-anchored coins on ETH was 38,142, including 26,161 WBTC and 7,721 renBTC.

That is to say, the BTC migrated to ETH in the past week increased by 73.9%, of which WBTC increased by 58.8% and renBTC increased by 300%.

Therefore, the price performance of REN in the past two days has been very good. DeFi on ETH is developing, and BTC is going to migrate to ETH, so the intermediate bridge of ren will play a big role.

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3. Data performance of DeFi and DAO tokens

The price performance of some DeFi projects is sorted out below.

1. Oracle

In the past week, the oracle machine was still so handsome. Link kept opening up the market value space of the oracle machine, causing heavy losses to short sellers.

2. Borrowing & DEX

Compared with the oracle sector, the overall performance of lending and DEX is still a bit worse.

However, as a layer 2 LRC, it has recently received a lot of attention. One of the important reasons is that the ETH chain is congested and the handling fee is too expensive. layer 2 is a nice solution.

3. Derivatives & others

SNX, REN, and YFI all performed well, and they all have one thing in common, which is the head event of each track.

After the boom, the funds will go to the top projects. After all, there are business data as the support, rather than a pure storytelling, which makes people more at ease.

4.DAO

DAO is also a track that has been hyped recently. Judging from the increase, it has indeed performed well in the past week, but how long can this track continue to be hyped?

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