Assessing the Impact of FTX Meltdown in the Dapp Industry

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Assessing the Impact of FTX Meltdown in the Dapp Industry

Key Takeaways

  • On November 8, the FTX and Alameda Research wallets had $1.7 billion and $177.3 million, respectively. At writing, the net worth of both wallets has decreased by 94% and 69%, respectively.
  • DeFi UAW peaked on November 9 and 10, reaching almost 500,000 UAW on both days; DeFi activity is now back to last month’s levels (400K dUAW).
  • Gaming dapps and gaming chains as EOS, Hive, Wax, Ronin and IMX seem mostly unaffected by the FTX meltdown; gaming UAW peaked on November 10 with almost 900,000 UAW.
  • Since November 1, the DeFi TVL has dropped 20.60%, from $83 billion to $65 billion.
  • Solana decreased its dUAW by 6.53% (46K) and the transactions count by 10.42% (1.5M) since October 31; its activity peaked on November 8 with 65K UAW. Solana lost 18% in TVL measured in SOL and 66% in TVL USD.
  • Since November 1, Solana’s NFT trading volume increased by 380% and the NFT sales count increased by 396%. DeGods had a decrease in the floor price in SOL of 24.01% and 69.11% in USD; additionally, the number of NFTs listed has increased by 58.04%.
  • After rumor of Crypto.com potentially being insolvent on November 13, the activity in Cronos has reached 15,000 dUAW and 25k in transactions count. Its TVL has decreased by 19% in USD, but gained 45% in CRO.
  • The overall NFT trading volume since November 1 decreased by 68.60%, and the sales count dropped by 24.50%. The blue-chips collections have maintained their value, as they decreased on average by 9.78% in ETH value or 30% in USD value.

    Full report from DappRadar here.

Is Pollen the Next Generation of DeFi?

Community powered DeFi protocol Pollen aims to shake up the asset management industry with its bold attempt to really put the community in the driving seat, led by top performing traders that emerge from the community. As the first really tangible step to making that happen after two years’ development and several months of testing involving 7,000+ beta users, Pollen has now launched its trading simulation product after 99% backing in a 100K strong community vote in line with Pollen’s merit-based DAO structure. In essence Pollen’s mission is to “rethink asset management from the ground up, reduce market risk, and provide a safe harbor for market volatility.”

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