Fantom makes the big news 2 times a week.
Layer 1s continue to explode, Uniswap V3 on arbitrum, Ethereum supply is shrinking, and a lot more.
Crypto markets on a wild spree. Layer 1s continue to explode with Fantom making the headlines with support from coinbase wallet.
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Market overview
YFII (DFi.money) gets listed on coinbase pro and boosts the asset management sector. These protocols leverage various automated strategies to maximize yields and have been fairly successful in doing so.
Ethereum is going dry on exchanges. Why?
Multiple reasons - EIP 1559 (burns a portion of tx fee), ETH being staked, and increased outflow from exchanges to non-custodial wallets.
Result? Lower supply → higher value.
Market movers
Data points to takeaway
More than 1M ETH staked in LIDO
Ethereum network burned 12,000 ETH on Tuesday, the most in a single day since the EIP 1559 activation.
Top stories
Uniswap v3 live on arbitrum mainnet.
CryptoPunks creators signs with Hollywood agents.
Solana hackathon - Ignition announcement
Dapp of the day
Aave is an open source and non-custodial liquidity protocol for earning interest on deposits and borrowing assets. Aave is the most popular lending protocol with highest Total Value Locked (TVL) currently at 14.63B$.
https://aave.com/
Crypto bytes
Flash loans are a type of uncollateralized lending that have become popular in DeFi. We can think of them as unsecured loans on steroids for the Defi Degen, requiring no collateral, credit checks, nor a limit to how much you can borrow, provided that you can pay back the loan.
https://decrypt.co/resources/what-are-flash-loans-the-defi-lending-phenomenon-explained
Endnote
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