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Dex Trading Volume Jumps 32% in October; The First Week of November Ended With Strong Activity
According to the latest statistics, decentralized exchange (dex) platforms recorded an increase in trading volume of $9.76 billion in October compared to the previous month. October volume was $39.98 billion, which also slightly surpassed August's total of $39.52 billion.
As the first week of November 2023 ended, the dex platform had tallied $15 billion in trades, showing stronger volume representing 37.51% of October's overall volume in the same seven-day span. In the index's $39.98 billion total volume for October, Uniswap dominated with $26.86 billion, accounting for more than two-thirds of the month's volume at 67%.
November numbers so far show Uniswap's dominance continues, with $9.10 billion of $15 billion traded, accounting for 60% of volume from November 1 to November 7, 2023. In the same seven-day period, Pancakeswap recorded $2.56 billion, while Curve Finance recorded $732 million. Notably, 57.7% of all dex trading activity occurs on the Ethereum blockchain.
BNB gained a little over 20%, and Arbitrum a little over 15%, based on seven-day dex trading activity based on blockchain stocks. This past week, Maverick hit the $541 million mark, while Balancer hit $506 million, and Dodo saw trading volume of $360 million.
Quickswap registered $283 million, Kyberswap earned $188 million, and Trader Joe finished with $152 million, completing the roundup of the top ten dex platforms based on seven-day trading volume. While dex trading volumes have increased over the past seven days, they pale in comparison to the higher daily trading volumes seen on October 9, 11, and 13.
#deFi #cryptonews
According to the latest statistics, decentralized exchange (dex) platforms recorded an increase in trading volume of $9.76 billion in October compared to the previous month. October volume was $39.98 billion, which also slightly surpassed August's total of $39.52 billion.
As the first week of November 2023 ended, the dex platform had tallied $15 billion in trades, showing stronger volume representing 37.51% of October's overall volume in the same seven-day span. In the index's $39.98 billion total volume for October, Uniswap dominated with $26.86 billion, accounting for more than two-thirds of the month's volume at 67%.
November numbers so far show Uniswap's dominance continues, with $9.10 billion of $15 billion traded, accounting for 60% of volume from November 1 to November 7, 2023. In the same seven-day period, Pancakeswap recorded $2.56 billion, while Curve Finance recorded $732 million. Notably, 57.7% of all dex trading activity occurs on the Ethereum blockchain.
BNB gained a little over 20%, and Arbitrum a little over 15%, based on seven-day dex trading activity based on blockchain stocks. This past week, Maverick hit the $541 million mark, while Balancer hit $506 million, and Dodo saw trading volume of $360 million.
Quickswap registered $283 million, Kyberswap earned $188 million, and Trader Joe finished with $152 million, completing the roundup of the top ten dex platforms based on seven-day trading volume. While dex trading volumes have increased over the past seven days, they pale in comparison to the higher daily trading volumes seen on October 9, 11, and 13.
#deFi #cryptonews
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Ethereum Aave V2 Market and Some Assets Paused — Team Says 'No Funds at Risk'.
'Temporary Precautions'
On November 4, the custodian of Aave, an open source, non-custodial liquidity protocol, temporarily suspended the Aave V2 Ethereum Marketplace and certain assets in Aave V2 on Avalanche. It also froze assets on Aave 3 on three chains, namely: Polygon, Arbitrum and Optimism. The move, framed as a “temporary precautionary measure,” was taken after the Aave team received reports regarding the protocol.
In an update shared via X (formerly Twitter), the Aave team emphasized that no user funds are at risk. The update adds that neither the Aave V3 markets on Ethereum, Base and Metis, nor the V2 markets on Polygon and Avalanche are affected by the reported issue. At the time the update was issued, Aave said analysis of what happened would be available when the issue was resolved.
“Governance proposals to restore normal operation of the protocol will be submitted soon. [A] detailed postmortem will be released once the issue is fully resolved,” the Aave team said.
The team also reminded Aave users who supplied or borrowed from frozen assets that they “can still withdraw or repay their positions.” However, due to the enforced pause in some Aave markets, users will only be able to supply or borrow more once the undisclosed issue has been resolved, the team added.
On X, some social media users complained about the freeze while others asked why the team apparently failed to provide any further updates. Meanwhile, one of the users asked why they couldn't pay or withdraw funds as per the team's announcement.
“Unable to repay USDC/ USDT or withdraw from Aave V3 on Avalanche chain. The button is gray. But above you said you can pay back/WD. Can you explain it? TY,” said the social media user.
#deFi #aave #cryptonews
'Temporary Precautions'
On November 4, the custodian of Aave, an open source, non-custodial liquidity protocol, temporarily suspended the Aave V2 Ethereum Marketplace and certain assets in Aave V2 on Avalanche. It also froze assets on Aave 3 on three chains, namely: Polygon, Arbitrum and Optimism. The move, framed as a “temporary precautionary measure,” was taken after the Aave team received reports regarding the protocol.
In an update shared via X (formerly Twitter), the Aave team emphasized that no user funds are at risk. The update adds that neither the Aave V3 markets on Ethereum, Base and Metis, nor the V2 markets on Polygon and Avalanche are affected by the reported issue. At the time the update was issued, Aave said analysis of what happened would be available when the issue was resolved.
“Governance proposals to restore normal operation of the protocol will be submitted soon. [A] detailed postmortem will be released once the issue is fully resolved,” the Aave team said.
The team also reminded Aave users who supplied or borrowed from frozen assets that they “can still withdraw or repay their positions.” However, due to the enforced pause in some Aave markets, users will only be able to supply or borrow more once the undisclosed issue has been resolved, the team added.
On X, some social media users complained about the freeze while others asked why the team apparently failed to provide any further updates. Meanwhile, one of the users asked why they couldn't pay or withdraw funds as per the team's announcement.
“Unable to repay USDC/ USDT or withdraw from Aave V3 on Avalanche chain. The button is gray. But above you said you can pay back/WD. Can you explain it? TY,” said the social media user.
#deFi #aave #cryptonews
🚀 KyberNetwork: A Different Approach 🚀
Kyber Network sets itself apart from the crowd by letting the utility of $KNC speak for itself, with on-chain data to back it up. No hype, just facts. Here are some key features:
1️⃣ Voting Rights: Hold $KNC for a say in KyberDAO decisions on funds and protocols.
2️⃣ Rewarding Votes: Get rewarded for participating in governance, funded by liquidity protocol fees, currently offering a solid 4.5% annual yield.
3️⃣ Gas Fee Bonanza: Earn up to 20% in gas fee rewards – a rare perk for crypto enthusiasts.
4️⃣ Multi-Chain Opportunities: Dive into various liquidity farms across multiple chains, maximizing your DeFi potential.
5️⃣ Collateral Power: Use $KNC as collateral for loans on top DeFi lending platforms, enhancing your financial flexibility.
Excitingly, more applications are in the pipeline for 2023 and 2024. Check out the detailed blog linked in the comments for an in-depth dive. Let's go, crypto enthusiasts! 🌐💼💰 Read more at
https://docs.kyberswap.com/governance/knc-token/knc-tokenomics
https://kyberswap.com//?utm_source=community&utm_medium=ambassadors&utm_campaign=mickey
Kyber Network sets itself apart from the crowd by letting the utility of $KNC speak for itself, with on-chain data to back it up. No hype, just facts. Here are some key features:
1️⃣ Voting Rights: Hold $KNC for a say in KyberDAO decisions on funds and protocols.
2️⃣ Rewarding Votes: Get rewarded for participating in governance, funded by liquidity protocol fees, currently offering a solid 4.5% annual yield.
3️⃣ Gas Fee Bonanza: Earn up to 20% in gas fee rewards – a rare perk for crypto enthusiasts.
4️⃣ Multi-Chain Opportunities: Dive into various liquidity farms across multiple chains, maximizing your DeFi potential.
5️⃣ Collateral Power: Use $KNC as collateral for loans on top DeFi lending platforms, enhancing your financial flexibility.
Excitingly, more applications are in the pipeline for 2023 and 2024. Check out the detailed blog linked in the comments for an in-depth dive. Let's go, crypto enthusiasts! 🌐💼💰 Read more at
https://docs.kyberswap.com/governance/knc-token/knc-tokenomics
https://kyberswap.com//?utm_source=community&utm_medium=ambassadors&utm_campaign=mickey
Today saw around 6,900 $INJ burned 🔥
Keep the momentum going with @Injective
#Write2Earn #injective #deFi #web3 #crypto
Keep the momentum going with @Injective
#Write2Earn #injective #deFi #web3 #crypto
Exciting news, crypto ape community! The $BLACK Launchpad on Mito is entering its final 24 hours! 🚀🔥
Did you know? Black Panther is the top revenue earning protocol on @Injective ! 🤯
🛡️ This revenue will power two major moves:
1️⃣ Buying and burning $BLACK tokens, driving value for all holders! 🔥💰
2️⃣ Rewarding $BLACK stakers for your support and commitment! 🎉
Join now to be part of this game changing journey:
#INJECTIVE #Binance #deFi #CryptoApe
Did you know? Black Panther is the top revenue earning protocol on @Injective ! 🤯
🛡️ This revenue will power two major moves:
1️⃣ Buying and burning $BLACK tokens, driving value for all holders! 🔥💰
2️⃣ Rewarding $BLACK stakers for your support and commitment! 🎉
Join now to be part of this game changing journey:
#INJECTIVE #Binance #deFi #CryptoApe
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Value Locked in Defi Surpasses $40 Billion, Marking Significant Recovery.
Defi Market Bounces Back as TVL Hits $41.42 Billion
Since October 23, TVL in defi has surpassed $40 billion. On Thursday, it reached $41.42 billion, according to DeFillama.com. Ten leading defi protocols by TVL have seen double-digit gains in the past week.
Summer Finance and Aave are at the forefront with profits exceeding 20% during this time. Other significant gainers include Rocket Pool and Lido Finance. TVL in defi was last around this level on August 15, 2023.
Over the 30-day period, nine of the top ten defi protocols by TVL measure posted profits. However, Uniswap recorded a monthly loss of 15.94%. The biggest gainers this month were Aave and Justlend, each gaining around 17.15%.
Of the $41.42 billion total, $20.62 billion was in ethereum, or liquid staking protocol ETH. This represents 49.78% of the current defi TVL, which comes from the ethereum liquid staking market. Additionally, four of the top ten defi protocols focus on lending.
Although TVL in defi has shown an increase, the top 100 defi coins are worth $49.95 billion. In the last 24 hours, this defi token has generated a global trading volume of $41.97 billion. Of the top ten, chainlink, or LINK, saw the biggest increase this week, rising 43.1% against the US dollar.
Lido's DAO token, LDO, rose 22%, and Injective, or INJ, increased 37.7%. Tokens such as SURE, TRB, BOND, and KWENTA have also seen notable gains in the past week. On the other hand, STPT, BNT, NRV and RBN experienced losses ranging from 4% to 13%.
In total, 17 coins of the top 100 defi coins recorded losses this week, despite a broader upward trend in the crypto market.
#cryptonews #cryptocurrency #deFi
Defi Market Bounces Back as TVL Hits $41.42 Billion
Since October 23, TVL in defi has surpassed $40 billion. On Thursday, it reached $41.42 billion, according to DeFillama.com. Ten leading defi protocols by TVL have seen double-digit gains in the past week.
Summer Finance and Aave are at the forefront with profits exceeding 20% during this time. Other significant gainers include Rocket Pool and Lido Finance. TVL in defi was last around this level on August 15, 2023.
Over the 30-day period, nine of the top ten defi protocols by TVL measure posted profits. However, Uniswap recorded a monthly loss of 15.94%. The biggest gainers this month were Aave and Justlend, each gaining around 17.15%.
Of the $41.42 billion total, $20.62 billion was in ethereum, or liquid staking protocol ETH. This represents 49.78% of the current defi TVL, which comes from the ethereum liquid staking market. Additionally, four of the top ten defi protocols focus on lending.
Although TVL in defi has shown an increase, the top 100 defi coins are worth $49.95 billion. In the last 24 hours, this defi token has generated a global trading volume of $41.97 billion. Of the top ten, chainlink, or LINK, saw the biggest increase this week, rising 43.1% against the US dollar.
Lido's DAO token, LDO, rose 22%, and Injective, or INJ, increased 37.7%. Tokens such as SURE, TRB, BOND, and KWENTA have also seen notable gains in the past week. On the other hand, STPT, BNT, NRV and RBN experienced losses ranging from 4% to 13%.
In total, 17 coins of the top 100 defi coins recorded losses this week, despite a broader upward trend in the crypto market.
#cryptonews #cryptocurrency #deFi