Oct 12th, 2022

Today’s DeFi data&news Brought to you by DeFi Insight

“Bitcoin prices have shown remarkable relative strength of late, amidst a highly volatile traditional market backdrop. Several macro metrics indicate that Bitcoin investors are establishing what could be a bear market floor, with numerous similarities to previous cycle lows.

Network profitability has not quite hit the same level of severe financial pain as past cycles, however adjustment for lost and long HODLed coins can explain a reasonable portion of this divergence.

In many ways, many on-chain metrics, market structure, and investor behavior patterns are dotting of the i’s, and crossing the t’s for a textbook bear market floor. A principle piece which is missing is duration, of which history would suggest there may be several months still ahead before a full recovery.” @Source

| CHAIN

▪ BNB Smart Chain to hard-fork following $100M exploit

| DEX/EXCHANGE/AMM

▪ Solana DeFi platform Mango suffers over $100 million in losses

▪ Mango Hacker Proposal: Use the treasury $70 million to repay bad debts, and return some of the Tokens if approved

| LENDING

▪ Sam Bankman-Fried hedges on whether FTX will make a bid for Celsius

| STAKING

▪ Sky Mavis to stake over 11 million AXS tokens

| PAYMENT

▪ River Financial Offers Payment Gateway for Bitcoin’s Multi-Asset Upgrade

| WALLET

▪ Google now showing Ethereum wallet balances

| POLICY&REGULATION

▪ The U.S. Treasury Department Takes Two Enforcement Actions Against Trading Platform Bittrex, Fines $24M and $29M

▪ CFTC Chair: Don’t expect crypto tech to be a ‘free pass’ from regulation

| NFT

▪ BAYC creator Yuga Labs faces SEC probe

▪ OpenSea launches NFT marketplace on Avalanche

▪ NFT marketplace Quix launches Optimism NFT bridge, allowing users to trade Ethereum NFTs on Optimism

| OPINION

▪ Justin Sun ‘Optimistic’ About Crypto’s Return to China, Addresses Huobi Acquisition

▪ Defi Spotlight Q3 2022 _coinshares

In this report we look at the evolution of revenues across the crypto sector within DeFi. Below are the report highlights for easier navigation through this issue of the DeFi Spotlight.

Total Value Locked (TVL) in Q3 was mostly flat, increasing 3% to $63 billion.

Revenues across DeFi in Q3 were $200 million, down 44% QoQ.

As predicted in our Q1 report, Layer 2 protocols are accelerating the growth of derivative exchanges.

▪ State of Avalanche Q3 2022 _messari

▪ Stablecoin Dominance on Chain(s) _messari

▪ Q3’22 Blockchain Venture Funding and M&A Recap _theblockresearch

▪ Analyzing Shareholders of Public Crypto Firms _theblockresearch