DeFi Grows As Daily Active Wallets Hit 7M, VanEq Rises On Ethereum L2s: Finance Redefined
Welcome to Finance Redefined, your weekly volume of decentralized finance (DeFi) insights – a newsletter designed to bring you the most relevant developments from the past week.
In the fourth quarter of 2023, the increase in decentralized application (DApp) activity in DeFi increased by 77%, with a total number of daily active user wallets of seven million.
The European Commission is reviewing the WiFi industry and may require protocols for approval in the near future.
According to the analysts of the investment manager VanEck, the Ethereum layer-2 measurement network can hit a market capitalization of 1 trillion dollars in the next six years.
The top 100 DeFi tokens had a rough week with most tokens trading in the red on the weekly charts, with the total value locked in DeFi protocols remaining below $100 billion.
Average daily activation of special wallets reaches seven million – Dapradar
Dapradar's latest report highlights several bullish indicators for the first quarter of 2024 in the DApp and Web3 sectors.
DApps saw a 77% increase in usage over quarter-over-quarter, with a total of seven million daily active user wallets. This represents a roughly 40 percent increase from February 2024, marking the highest adoption rate since 2022.
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Coming DeFi laws in Europe may ban decentralized protocols.
As the European Commission reviews the position, European decentralized financial protocols may soon fall under new regulations.
According to the Crypto-Assets Regulation (MCA) Markets – the regulatory framework that governs digital assets in the region – the European Commission is required to prepare a report by December 30, evaluating the implementation of the decentralized financial market and certain regulations. sector.
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Ethereum Layer 2s to Reach $1 Trillion Market Value by 2030 – VanEq
Ethereum Layer-2 Skating Networks Hits $1 Trillion Market Capitalization in Next Six Years According to analysts at investment manager VanEyck, they include thousands of use case-specific chains.
Layer-2 blockchains address Ethereum's “main challenge” — “limited capacity to process, store and compute data,” VanEck's senior digital assets investment analyst Patrick Bush and head of digital assets research Matthew Siegel said in an April 3 report.
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AssangeDAO's crypto activities are suspicious, analysts urge caution.
SlowMist analysts raised concerns about a possible “soft carpet drag” on March 10 when a 100 Ether (ETH) transaction from an AssangeDAO address went to a receiver that appeared to be affiliated with a decentralized autonomous organization (DAO).
Blockchain forensics firm Assangedao's true intentions are unclear, but stresses that investors should proceed with caution and exercise general caution before engaging with the organization.
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Overview of the DeFi market
According to data from Cointelegraph Markets Pro and TradingView, DeFi's top 100 tokens had a heavy week by market capitalization, with most trading in the red on the weekly charts. The total value locked up in DeFi protocols remains below $100 billion.
Thanks for reading this week's roundup of the most impactful DeFi developments. Join us next Friday for more stories, insights and lessons about this dynamic and evolving space.
