Weekly DeFi Index
The market capitalisation and volume indices were negative at -4.34% and -14.65%, respectively, while the volatility index grew by +17.96%.
- Grayscale Investments launched the Grayscale Aave Trust, a new investment fund for Aave’s governance token, AAVE. This fund is designed for qualified investors and adds to Grayscale’s range of single-asset crypto investment products.
Chart of the Week
USDS, the new stablecoin issued by Sky (formerly MakerDAO), achieved a total supply of US$1 billion within two weeks of its launch, and reached the $1.03 billion mark on 8 October. The token currently offers additional benefits like higher reward rates and Sky Star token rewards.
Meanwhile, Sky’s other stablecoin, DAI, declined around 5% during the same period. The token’s total supply dipped to $4.79 billion on 8 October.
News Highlights
- Crypto.com announced a strategic partnership with 21.co, the parent company of 21Shares, to enhance liquidity and custody solutions for its 21.co Wrapped Bitcoin (21BTC). This collaboration will leverage Crypto.com’s deep liquidity and competitive fees to improve user access to cryptocurrencies.
- PayPal completed its first business payment using its proprietary stablecoin, PYUSD, which is pegged to the US dollar. The payment was made to the accounting firm Ernst & Young through SAP’s digital currency hub, demonstrating how corporations could use stablecoins for instant payments.
- Aave is preparing to launch its GHO stablecoin on the Avalanche and Base networks. This move aims to expand the accessibility of GHO, which is designed to be a decentralised, collateral-backed stablecoin.
- Aptos Labs, in collaboration with Google Cloud, launched GameStack, a platform designed to simplify the integration of blockchain technology in video games. GameStack provides developers with tools like a Unity software development kit (SDK), digital wallet integration, and support for NFT marketplaces, making it easier to incorporate decentralised features into games.
- Two protocols are preparing to airdrop tokens to their users. Puffer Finance, a liquid restaking protocol, shared more details of its airdrop after completing its first snapshot, and Scroll, a Layer-2 zkEVM rollup, is set to airdrop 15% of its total token supply to its community.
Recent Research Reports
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- AI Agent in Crypto: This report looks into AI agents within the cryptocurrency realm, including agent creation, trading, smart wallets/payments, gaming, NFTs, and security.
- Alpha Navigator: Quest for Alpha [September 2024]: Cryptocurrencies, Equities, and Fixed Income were up in September, with BTC taking the lead. The US and Eurozone reduced interest rates; Australia, China, Japan, and the UK kept interest rates unchanged.
- Asset Allocation With Crypto: Adding BTC improves portfolios by up to 2% annually. The ‘Modern Portfolio Theory’ is able to accommodate portfolios that hold a mix of TradFi, BTC, and ETH.
Interested to know more? Access exclusive reports by signing up as a Private member, joining our Crypto.com Exchange VIP Programme, or collecting a Loaded Lions NFT.
Recent University Articles
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| What Is Bittensor (TAO)? | What Crypto CFDs Are and How to Trade Them | Solana Staking: A Guide to Staking SOL |
| What Is Bittensor (TAO)? |
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| What Crypto CFDs Are and How to Trade Them |
| Solana Staking: A Guide to Staking SOL |
- What Is Bittensor (TAO)?: Bittensor (TAO) is changing how machine learning trains AI models. We explain the fundamentals, and explore how the TAO token plays a key role.
- What Are Crypto CFDs and How to Trade Them: Learn how to trade a crypto Contract for Difference (CFD) in the Crypto.com App, and the advantages CFDs offer over spot trades.
- Solana Staking: A Guide to Staking SOL: Learn how to make the most of your SOL with Solana Staking — including current return rates.
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