TokenInsight WeekFi Recap! A Week for Loot
Loot is the most hotspot this week. With no signals, its floor price surges to 12 ETH in 7 days. Its unique addresses break 2.5k and its trading volume surged 5,043% this week. What is Loot? And what can you do with Loot? This week we cover some Loot details for you to help understanding the whole thing.
As for the market data, the DEX spot volume rose, Uniswap and Sushiswap’s weekly volume increased 25%. It may partially because of the activity of Loot. However, the volume of Opensea seems shrunk a lot this week. Although we saw a peak at the beginning of this week ($323m, 8.29), the volume decreased over 50% to $138m by the end of Sep 2. This is not a healthy signal.
This week, Ethereum L2 solution Arbitrum finally launched with a fresh $120 million from a series B funding round led by Lightspeed Venture Partners. The differences between Arbitrum and competitors like Optimism are subtle, but in general Arbitrum is likely to have cheaper transaction fees long term, and will function more predictably during times of high Ethereum L1 congestion.
Fantom announced a rewards program intending to distribute 370 million FTM to users of DeFi protocols that set up on Fantom. Solana have started the new global hackathon. Alpha Finance announced the new liquidity mining.
Want to know more about what happened this week? Check out the latest DeFi Weekly by TokenInsight.