DeFi Weekly Updates: 26th July — 1st August 2021
Happy Birthday Ethereum! / Ethereum London Network Upgrade Countdown! / Robinhood & Uniswap ?! / Goldman Sachs Applies for DeFi ETF with SEC / Statistics on Andre Cronje’s Fixed Forex / Synthetix trading is now live on the Optimistic Ethereum L2
Dear Coinomo’s Friends and Family,
It has been an exciting week for ETH and DeFi. ETH has seen a huge boost, with price rising for a twelve day consecutive streak. With the London Upgrade upon us, classical financial institutions like Goldman Sachs joining the DeFi race, the market is getting bubbly hot again. Our editors are maintaining the Nasduck Index at 4.0 to reflect the market’s confidence in Ehereum and DeFi.
Highlights of the Week:
I bet a lot of people do not know Ethereum’s birthday is 30th of July, 2015. Well, now you know.
After a recent slump across cryptocurrency markets, Ether has surged to new all-time highs off the back of a number of important events and metrics. Overall, 2021 promises to be a crucial year for the Ethereum blockchain as developers continue to work toward the network’s integration with Ethereum 2.0, which will see the blockchain part ways with its original proof-of-work consensus algorithm in favor of the touted energy- and cost-efficient proof-of-stake consensus.
“We’re trying to put Uniswap and the rest of DeFi right there in those applications so that we can bring the dream of open, 100% uptime liquidity to the whole world,” Schap said. “PayPal wants to talk to us, E*Trade wants to talk to us, Stripe wants to talk to us.”
Investment banking giant Goldman Sachs has filed an application with the U.S. Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) that would offer exposure to public companies in decentralized finance and blockchain around the globe.
Since Andre Cronje’s blogpost on 2nd of July, about the concept of Fixed Forex, we have been tracking the progress closely. It has a current TVL of about USD 48.5m and Sushi APY 38.64%. Keep the good stuff coming.
6. Synthetix trading is now live on the Optimistic Ethereum L2
Quote of the week:
From Aave founder, Stani Kulechov:
From Ethhub Co-founder Anthony Sassano:
Data of the week:
Axie Infinity spiraling to crazy numbers. How long will it last? Is it a fad or phenomenon?