Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Dogecoin (Doge) is higher for the next leg – will the resistance plan break?

2025-05-14

Chainlink: Investigate whether Link Bulls profits can extend $ 18

2025-05-14

Key Bitcoin -indicator flashes again – will BTC gather to new highlights?

2025-05-14
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    SFT protocol joins Glacier Labs to bridge physical and data infrastructure

    2025-05-14

    Dantewada secures more than 700,000 land records on avalanche blockchain

    2025-05-14

    Brave Wallet is expanding support with Cardano -Integration

    2025-05-13

    Bridge bridge bridge with the real world

    2025-05-13

    Pancake wap Infinity brings ZK-driven intelligent UX with Brevis

    2025-05-13
  • NFT

    Bidding starts at Ross Ulbricht’s pre-judgment and prison thinking of the fact that he is starting a new chapter

    2025-05-14

    Why this Facebook group places the news on NFTS

    2025-05-13

    Mey Network launches real estate NFTs to invest real estate in the chain

    2025-05-13

    Animoca Brands plans our mention to record ‘unique moment’ of Trump administration: FT

    2025-05-13

    Donald Trump Jr. Splashes rumors about ‘Truth Social’ -Memecoin

    2025-05-13
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Dogecoin (Doge) is higher for the next leg – will the resistance plan break?

    2025-05-14

    21Shares says that Solana is on Tempo Linchpin of digital finances

    2025-05-14

    Analyst sees crypto repeating dot-com bubble, predicts meetings for XRP and one Solana Challenger

    2025-05-14

    XRP short-term movements remain uncertain, but 4-hour graph shows strength

    2025-05-13

    Crypto -Liquidity lags behind traditional finances despite the profit of market efficiency – S&P Global

    2025-05-13
  • Learn

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-10

    What Is Proof-of-Stake (PoS)? A Beginner’s Guide

    2025-05-09

    What Is a Layer-1 (L1) Blockchain?

    2025-05-03

    What is a Layer-2 (L2) Blockchain Network Solution?

    2025-05-02
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Altcoins»MKR, COMP lead DeFi revival against rough patch
Altcoins

MKR, COMP lead DeFi revival against rough patch

2023-08-01No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email


  • MKR increased by 43% while COMP surged by 83%.
  • Bot trades on Uniswap increased but token prices have now tanked.

The Decentralized Finance (DeFi) market experienced a rollercoaster journey since June with several projects facing tough times amid regulatory heat and challenges. However, this turbulence seems to have taken a back seat with altcoins, led by MakerDAO [MKR] and Compound Finance [COMP], emerging as key players leading the recovery.


Realistic or not, here’s COMP’s market cap in MKR terms


According to Galssnode weekly insight, interest in DeFi tokens spiked after a number of them put up tremendously poor performances. An undeniable reason for the previous decline in DeFi token prices was the SEC memo where about 68 tokens were called unregistered securities.

Also, Ripple’s [XRP] partial win over the U.S. SEC shifted focus and dominance from Bitcoin [BTC]. This triggered an interest in altcoin, DeFi tokens inclusive.

New developments trigger the rise 

Between 12 June and 24 July, Glassnode revealed that the DeFi price index rallied by 56%. For context, the DeFi price index considers the performance of the top eight tokens by market capitalization.

DeFi price index of MKR and COMP

Source: Glassnode

Following the uptick registered, Glassnote noted that,

“This is the first outperformance since September 2022, and with very similar performance thus far.”

But as was mentioned above, the overall hike in value would have been impossible without the input of MKR and COMP. And the rise in the value of these tokens was not just random rallies.

For MKR, the introduction of its Smart Burn Engine was the catalyst needed for an uptick. In June, MakerDAO deployed the MKR Smart Burn Engine contracts on-chain. The engine is a smart contract system designed to allocate excess of its stablecoin DAI while increasing the on-chain liquidity of MKR over time.

See also  Stellar (XLM) Poised for 25% Rally, Buy Signal Flashes, Expert Says

Due to the prospect of removing $7 million worth of MKR while increasing demand, the token surged by 43% in one week.

DeFi tokens weekly performance

Source: Glassnode

COMP, on the other hand, had the launch of the Superstate project to thank for its 83% hike. On 28 June, Compound’s founder Robert Leshner revealed that it was launching Superstate to bridge the gap between traditional finance and crypto-native assets.

DEX volume dominates, but now…

Well, apart from the strides of MKR and COMP, other positive developments appeared in the ecosystem. One of which was the Decentralized Exchange (DEX) flow. According to the on-chain analytic platform, DEX volume dominance rose from 3.75% to 29.25% between early June and late July.

Furthermore, the rise in DEX volume could be linked to trading activity on Uniswap [UNI]. But it wasn’t primary because of the top altcoins. Instead, the presence of both human traders and Sandwich bots increased on the platform.

Uniswap volume by trade type

Source: Glassnode


Is your portfolio green? Check the Compound Finance Profit Calculator


Sandwich bots are MEV-extracted bots that help in trading large buy orders and follow-up sell orders. Glassnode revealed, 

“We observe that Sandwich bots generally account for more than 60% of daily volume. The volume share of Arbitrage bots has decreased from roughly 20% to 10% since the beginning of the year. Meanwhile, the share of volume created by human traders has increased up to 30% since the beginning of July, aligning with the period of increased interest in DeFi tokens”

However, the positive developments initially recorded have been subject to a downtrend following Curve Finance’s [CRV] challenges. At press time, tokens including COMP and MKR decreased by 18.19% and 3.02% in the last 24 hours. 

See also  First US XRP ETF debut - will it positively influence prices?

Source link

COMP DeFi Lead MKR Patch revival Rough
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Chainlink: Investigate whether Link Bulls profits can extend $ 18

2025-05-14

XRP sees renewed trading activity while the market absorbs sales pressure

2025-05-14

XRP has a clear path to gather – but this is what you need to know first

2025-05-13

BTC Dominance Shift Sparks Altesean Hype

2025-05-13
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Bitcoin Reclaims $65K – What BTC Needs to Next Reach $74K

2024-09-27

Engineer predicts milestone in ‘strong foundations’

2024-12-07

Can PEPE continue its 100% rally from last week

2023-06-29
Editors Picks

Ethereum Price Is Recovering, But Can It Overcome This Major Hurdle?

2023-09-27

Ethereum Name Service ventures into Layer-2, what about ENS?

2023-07-01

Creditors of FTX have sued Crypto Exchange’s legal counsel on allegations of fraud and civil conspiracy

2024-02-19

Bitcoin Price Rebounds, but Can BTC Bulls Gain Strength Again?

2024-01-27
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Dogecoin (Doge) is higher for the next leg – will the resistance plan break?

Chainlink: Investigate whether Link Bulls profits can extend $ 18

Key Bitcoin -indicator flashes again – will BTC gather to new highlights?

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$103,855.840.41%
  • ethereumEthereum(ETH)$2,607.415.13%
  • rippleXRP(XRP)$2.622.82%
  • tetherTether USDt(USDT)$1.000.00%
  • solanaSolana(SOL)$180.794.00%
  • binancecoinBNB(BNB)$656.600.92%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2365944.26%
  • cardanoCardano(ADA)$0.822.67%
  • tronTRON(TRX)$0.2743843.75%
  • suiSui(SUI)$3.95-0.68%
  • chainlinkChainlink(LINK)$17.092.93%
  • avalanche-2Avalanche(AVAX)$25.905.62%
  • stellarStellar(XLM)$0.3122461.39%
  • shiba-inuShiba Inu(SHIB)$0.0000162.56%
  • hedera-hashgraphHedera(HBAR)$0.2119901.32%
  • hyperliquidHyperliquid(HYPE)$25.462.42%
  • piPi(PI)$1.185.22%
  • the-open-networkToncoin(TON)$3.361.77%
  • unus-sed-leoUNUS SED LEO(LEO)$8.843.02%
  • bitcoin-cashBitcoin Cash(BCH)$407.872.00%
  • polkadotPolkadot(DOT)$5.111.98%
  • litecoinLitecoin(LTC)$102.400.08%
  • moneroMonero(XMR)$340.11-0.37%
  • pepePepe(PEPE)$0.0000141.03%
  • bitget-tokenBitget Token(BGB)$4.801.41%
  • daiDai(DAI)$1.00-0.01%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • uniswapUniswap(UNI)$6.740.59%
  • bittensorBittensor(TAO)$455.42-1.41%
  • nearNEAR Protocol(NEAR)$3.162.89%
  • aptosAptos(APT)$5.974.26%
  • aaveAave(AAVE)$230.336.47%
  • okbOKB(OKB)$54.811.49%
  • kaspaKaspa(KAS)$0.1231352.20%
  • ondo-financeOndo(ONDO)$1.020.31%
  • internet-computerInternet Computer(ICP)$5.833.99%
  • ethereum-classicEthereum Classic(ETC)$20.223.54%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.817.16%
  • render-tokenRender(RENDER)$5.273.46%
  • crypto-com-chainCronos(CRO)$0.1022473.54%
  • gatechain-tokenGateToken(GT)$21.960.17%
  • vechainVeChain(VET)$0.0313172.98%
  • mantleMantle(MNT)$0.801.61%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2561102.45%
  • ethenaEthena(ENA)$0.42717312.85%
  • usd1World Liberty Financial USD(USD1)$1.00-0.06%
  • filecoinFilecoin(FIL)$3.174.19%
  • algorandAlgorand(ALGO)$0.2456553.66%
  • arbitrumArbitrum(ARB)$0.4397703.26%
  • bitcoinBitcoin(BTC)$103,855.840.41%
  • ethereumEthereum(ETH)$2,607.415.13%
  • rippleXRP(XRP)$2.622.82%
  • tetherTether USDt(USDT)$1.000.00%
  • solanaSolana(SOL)$180.794.00%
  • binancecoinBNB(BNB)$656.600.92%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2365944.26%
  • cardanoCardano(ADA)$0.822.67%
  • tronTRON(TRX)$0.2743843.75%
  • suiSui(SUI)$3.95-0.68%
  • chainlinkChainlink(LINK)$17.092.93%
  • avalanche-2Avalanche(AVAX)$25.905.62%
  • stellarStellar(XLM)$0.3122461.39%
  • shiba-inuShiba Inu(SHIB)$0.0000162.56%
  • hedera-hashgraphHedera(HBAR)$0.2119901.32%
  • hyperliquidHyperliquid(HYPE)$25.462.42%
  • piPi(PI)$1.185.22%
  • the-open-networkToncoin(TON)$3.361.77%
  • unus-sed-leoUNUS SED LEO(LEO)$8.843.02%
  • bitcoin-cashBitcoin Cash(BCH)$407.872.00%
  • polkadotPolkadot(DOT)$5.111.98%
  • litecoinLitecoin(LTC)$102.400.08%
  • moneroMonero(XMR)$340.11-0.37%
  • pepePepe(PEPE)$0.0000141.03%
  • bitget-tokenBitget Token(BGB)$4.801.41%
  • daiDai(DAI)$1.00-0.01%
  • ethena-usdeEthena USDe(USDE)$1.00-0.01%
  • uniswapUniswap(UNI)$6.740.59%
  • bittensorBittensor(TAO)$455.42-1.41%
  • nearNEAR Protocol(NEAR)$3.162.89%
  • aptosAptos(APT)$5.974.26%
  • aaveAave(AAVE)$230.336.47%
  • okbOKB(OKB)$54.811.49%
  • kaspaKaspa(KAS)$0.1231352.20%
  • ondo-financeOndo(ONDO)$1.020.31%
  • internet-computerInternet Computer(ICP)$5.833.99%
  • ethereum-classicEthereum Classic(ETC)$20.223.54%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.817.16%
  • render-tokenRender(RENDER)$5.273.46%
  • crypto-com-chainCronos(CRO)$0.1022473.54%
  • gatechain-tokenGateToken(GT)$21.960.17%
  • vechainVeChain(VET)$0.0313172.98%
  • mantleMantle(MNT)$0.801.61%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2561102.45%
  • ethenaEthena(ENA)$0.42717312.85%
  • usd1World Liberty Financial USD(USD1)$1.00-0.06%
  • filecoinFilecoin(FIL)$3.174.19%
  • algorandAlgorand(ALGO)$0.2456553.66%
  • arbitrumArbitrum(ARB)$0.4397703.26%