August 25: 💥💥💥💥💥 VELVET saw an intraday plunge of over 76%. Binance’s derivatives market saw a sharp increase in open interest. At its peak, open interest reached $15.2 million. The open interest-to-market-cap ratio briefly rose to 3.9%. During the selloff, market cap fell from over $400 million to $270 million, indicating rapid and intense capital inflows and outflows.
💥💥💥 AAVE integrated Coinbase tokenized stock, becoming the first on-chain lending protocol to let users borrow stablecoins using Coinbase stock as collateral. This feature will go live with Aave V4 on the Base chain, available only in certain regions and excluding the United States. The move marks an upgrade to on-chain credit use cases, bringing traditional financial assets into the DeFi ecosystem.
💥💥💥 UNI’s on-chain burn volume over 24 hours hit a new high of 62,000 tokens. Over the past 7 days, a total of 656,000 were burned, bringing the all-time total burned to more than 109 million. This burn is mainly driven by Uniswap’s fee revenue-sharing mechanism, reflecting a recent increase in on-chain trading activity.
💥💥💥 AAVE integrated Coinbase tokenized stock, becoming the first on-chain lending protocol to let users borrow stablecoins using Coinbase stock as collateral. This feature will go live with Aave V4 on the Base chain, available only in certain regions and excluding the United States. The move marks an upgrade to on-chain credit use cases, bringing traditional financial assets into the DeFi ecosystem.
💥💥💥 UNI’s on-chain burn volume over 24 hours hit a new high of 62,000 tokens. Over the past 7 days, a total of 656,000 were burned, bringing the all-time total burned to more than 109 million. This burn is mainly driven by Uniswap’s fee revenue-sharing mechanism, reflecting a recent increase in on-chain trading activity.
