DeFi Pulse Farmer #39
DeFi Pulse released Farmer #39, top stories, developments, and trends from the past week in tandem with two key farming opportunities to keep an eye on.
The total value locked (TVL) in DeFi apps is at a new all-time high of $67.9B! Putting this in the context of mainstream finance giants, Square’s market cap is currently $112B, PayPal’s is $308B, MasterCard’s is $380B, and VISA’s is $499B.
- Earlier this week multinational banking powerhouse JP Morgan published an investor note titled “Why Is ETH Outpeforming?” — Therein, three of the financial giant’s analysts highlighted how “ETH is the backbone of the crypto-native economy and therefore functions more as a medium of exchange. To the extent owning a share of this potential activity is more valuable, the theory goes, ETH should outperform BTC over the long run.”
- The European Investment Bank is working on a digital bond sale atop Ethereum — According to a new Bloomberg report, the EIB has tapped banking titans Banco Santander, Goldman Sachs, and Societe Generale to help it issue the €100M digital bond offering. That’s one small step for these banks, and one giant leap for the future of DeFi.
Lastly, let’s look at the best-performing DeFi tokens from this week. In that span, we saw strong runs from QUICK (+606.8%), CREAM (+62.9%), AAVE (+40%), KEEP(+34.6%), WNXM (+31%), and COMP (+27.5%). The DeFi Pulse Index (DPI) accordingly rose 8.49% to reach $559.20.
What is DeFi Pulse?
DeFi Pulse is a site where you can find the latest analytics and rankings of DeFi protocols. Their rankings track the total value locked into the smart contracts of popular DeFi applications and protocols. Additionally, they curate The DeFi List, a collection of the best resources in DeFi, and DeFi Pulse Farmer, a newsletter covering the latest news and opportunities in DeFi.
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