Steaker Monthly Report (11/08/2021–10/09/2021)

Market Recap:

In August, we saw strong momentum in the cryptocurrency market, showing how important to diversify your assets by having a position in the crypto world. Last week, the Bitcoin and ETH market entered price consolidation, largely hanging onto the impressive gains since the bottom set in late July.

However, the crypto market crashed on September 7; we saw the max daily drawdown of 19.04% and 23.87% on BTC and ETH prices, respectively. On the same day, the overall futures liquidations hit the current peak of $3.58bn, including $1.4bn and $877mm from BTC and ETH, citing data from bybt. Last month, BTC prices traded between a monthly low of $42,843 and a new local high of $52,920, while ETH prices traded between a monthly low of $2,950 and a new local high of $4,027.

DeFi continued to boom last month, following the call from the BTC and ETH. According to CoinGecko, the top 100 DeFi tokens’ market cap advanced from $110.1bn on August 11 to $122.6bn at the time of writing, an increase of 11.35% MoM. The DeFi dominance in the crypto space currently sits at 5.6%.

According to DeFi Llama, the total value locked (TVL) also ballooned from $138.7bn to the current level of $170.3bn, expanding by 22.78% MoM. Around 7.3mm ETH and 194k BTC are locked in DeFi respectively at the time of writing.

Top 100 Coins Price Index:

Top 3 price gainers: FTM (+560.59%), SOL (+417.36%), XEC (+373.84%)

Top 3 price losers: OKB (-20.45%), UNI (-18.98%), ICP (-13.70%)

Benchmark: BTC (+1.23%)

DeFi Price Index:

Top 3 price gainers: IDEX (+884.41%), TLOS (+565.14%), MOBOX (+399.75%)

Top 3 price losers: UQC (-29.81%), BADGER (-28.04%), UNI (-19.33%)

Benchmark: Top 100 DeFi Tokens’ Market Cap (+11.35%)

Top Industry News

1. Visa Buys a CryptoPunk as it Takes First Steps into ‘NFT Commerce’
2. MicroStrategy Bought an Additional $177mm of Bitcoin, Now Holds $2.34B Worth Of Crypto
3. Hacker Returns all Stolen Assets from $643,000,000 Crypto Heist
4. Coinbase Announces $500 Million Investment into Bitcoin, Ethereum, and other Crypto Assets
5. Cardano Adds Smart Contracts Capabilities to Alonzo Testnet
6. Twitter to Allow Users to Add BTC and ETH Addresses to Profiles, per Leaked Screenshots
7. Offchain Labs Launches Arbitrum One Mainnet, Secures $120M in Funding
8. Fantom Foundation Unveils 370M FTM Incentive Program