This weekly recap on Ethereum is for informational purposes only and is not investment advice. The recap will briefly summarize the outstanding activities of Ethereum over the past week, from August 8th-14th. Last week, the market had a good signal when BTC closed with a green candle plus volume increase, so we still hope BTC will move towards next week to $26,000. Let’s go to the numbers in more detail.
The total value locked on Ethereum with $38.71b down 0.5% compare last week ($39.69b), and it takes 57.05% of total value locked whole market. This index has slightly reduce with the market. To recover as at its most developed still takes a lot of time while not many Dapps are built right now and the money flow that must not flow into the ecosystem. Beside BTC still has no signs of uptrend, the recovey are insignificant. More obvious signs are needed.
Total Ethereum Stablecoins Market Cap is $90.23b, down 0.11% from last week $90.72b, taking over 58.8% of Total Stablecoins Market Cap ($153.44b). In which USDC dominance: 42.09%, USDT dominance: 31.01%, BUSD dominance: 10.9%. The total supply of stablecoins on the Ethereum chain has reduced slightly in the past week. The rest are other stablecoins, accounting for about 17%.
Ethereum’s (ETH) largest testnet, dubbed Goerli, successfully completed the move to a Proof-of-Stake (PoS) system. The transition occurred at around 1:45 UTC when Terminal Total Difficulty (TTD) breached 10,790,000. All eyes are now set on the final merge, scheduled to take place next month. Many expect the final move to a PoS consensus method to occur sometime towards the end of September.
More information: CLICK HERE
Lido, the leading liquid staking protocol (Figure 1) on multi-chain, and CIAN, an emerging blockchain automation tooling platform, are glad to announce the rise of their strategic partnership. The two parties are collaborating on designing a series of innovative decentralized blockchain automation tools that facilitate users to implement various yield strategies around Lido’s liquid staking assets, starting with stETH.
More information: CLICK HERE
Automation is a unique service providing different automated options for your defi positions in a trustless and non-custodial manner – allowing you to keep full ownership of your assets at all times while enjoying the convenience of automated features.
Specifically, the automated strategies now available for Aave v3 on Arbitrum allow you to configure: – Liquidation protection in the form of deleveraging (partial unwinding) in case of markets moving down – Automated leverage increase in case of markets moving up.
More information: CLICK HERE
TrueFi brings collateral-free lending on-chain, maximizing capital efficiency for borrowers and earning rates for lenders powered by the first ever on-chain credit scores and governed by holders of the TRU token and the BitKeep is the multi-chain wallet of choice for 6 million users. Track every dollar loaned to TrueFi’s vetted borrowers on-chain, and review regular attestations of TRU token treasury.
More information: CLICK HERE
Futures on Kwenta are unique in that they are built entirely using decentralized technology with the Synthetix protocol. Traders benefit from the deepest liquidity available on any available assets, a completely permissionless product, and Futures for a growing variety of assets in and outside the cryptocurrency ecosystem. Participants will be eligible to win part of 20,000 $OP tokens & CryptoTesters NFT prizes. The competition will be hosted on Optimism, a Layer 2 solution. Traders will need to use only Perpetual Futures positions to generate as much profit as possible and reach the top of the Kwenta leaderboard.
More information: CLICK HERE
Excited to announce the genesis phase of Uptick NFT Marketplace on loopringorg. A secure, fast & cheap NFT ecosystem on Ethereum zkRollup Layer2 Mint, List, Trade NFTs w/ $ETH$LRC. Uptick is not just limited to digital art; in fact, it fully covers collectible, functional, and utility-based NFTs, with a strong focus on the pan-entertainment and lifestyle fields. Some of these areas include Digital Art, Audio, Video, Membership, Tickets, Fan Economy, and the Metaverse.
In the overall Uptick Network ecosystem, we have reached wide global coverage in just a few months, with reports of great user experience, and a platform that has attracted an outstanding array of creators from all over the world.
More information: CLICK HERE
The above are some significant new developments in the Ethereum ecosystem that occurred in the past week. Last week was a week with activities in a good signal for the whole market. However, in general the market is still quite gloomy, there is no sign of an uptrend coming back. All are just signs of recovery.
Find more information about Ethereum:
Website: https://https://ethereum.org/en/
Reddit: https://www.reddit.com/r/ethereum
Twitter: https://twitter.com/ethereum
If you have any questions, comments, suggestions, or ideas about the project, please email ventures@coincu.com.
DISCLAIMER: The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.
Alan
Coincu Ventures
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