DeFi Platforms See Profits Amid FTX Collapse and CEX Exodus: Finance Redefined
Bears were in check for the second week after FTX crashed, leading to a dismal performance across the market, including Top 100 DeFi Tokens.
Newsletter
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) news – a newsletter designed to bring you significant developments over the past week.
The collapse of the FTX has created a sense of uncertainty among large and retail investors alike, who are unsure whether or not to keep their funds on centralized exchanges. The dilemma has led to a major rise in DeFi protocols and decentralized exchanges.
DeFi protocols and decentralized exchange (DEX) platforms have gained momentum following the FTX implosion. A new report from Delphi Digital suggests that DEX platforms gained 24% in volume following the collapse of FTX.
In other DeFi news, crypto scammers are actively using black market identities to avoid detection. DeFi 1Inch protocol seeks to optimize gas costs with its new v5 router.
The DeFi market, like the rest of the crypto market, is still recovering from the turmoil that followed the collapse of FTX. The majority of the top 100 DeFi tokens traded red for week two, except for a few.
DeFi Platforms See Profits Amid FTX Collapse and CEX ExodusA week after the FTX and Alameda mayhem fallout, there are some on-chain data points that are interesting to watch. Despite record amounts of Bitcoin (BTC) and Ether (ETH) leaving exchanges, not all DApps and protocols have seen growth, primarily due to reliance on FTX and Alameda.
Combined with the migration of centralized exchanges (CEX), the
Bears were in check for the second week after FTX crashed, leading to a dismal performance across the market, including Top 100 DeFi Tokens.
Newsletter
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) news – a newsletter designed to bring you significant developments over the past week.
The collapse of the FTX has created a sense of uncertainty among large and retail investors alike, who are unsure whether or not to keep their funds on centralized exchanges. The dilemma has led to a major rise in DeFi protocols and decentralized exchanges.
DeFi protocols and decentralized exchange (DEX) platforms have gained momentum following the FTX implosion. A new report from Delphi Digital suggests that DEX platforms gained 24% in volume following the collapse of FTX.
In other DeFi news, crypto scammers are actively using black market identities to avoid detection. DeFi 1Inch protocol seeks to optimize gas costs with its new v5 router.
The DeFi market, like the rest of the crypto market, is still recovering from the turmoil that followed the collapse of FTX. The majority of the top 100 DeFi tokens traded red for week two, except for a few.
DeFi Platforms See Profits Amid FTX Collapse and CEX ExodusA week after the FTX and Alameda mayhem fallout, there are some on-chain data points that are interesting to watch. Despite record amounts of Bitcoin (BTC) and Ether (ETH) leaving exchanges, not all DApps and protocols have seen growth, primarily due to reliance on FTX and Alameda.
Combined with the migration of centralized exchanges (CEX), the
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