TrueUSD (TUSD) has surged in popularity among stablecoins, climbing to the 29th position in terms of market capitalization. Its market capitalization has grown from $755 million at the end of 2022 to $2.4 billion as of Monday, thanks in large part to Binance offering BTC-TUSD as a zero-fee trading pair.

However, TUSD lost its dollar peg on Monday, peaking at $1.20 relative to USDT on Binance. This coincided with Tron founder Justin Sun depositing more than $50 million worth of TUSD on Binance, leading to speculation that Sun was trying to farm SUI liquidity pools.

Binance CEO Changpeng "CZ" Zhao threatened Sun with legal action, and Sun then admitted someone on his team was using a portion of the funds to farm, but most were to be used for market making TUSD on the exchange.

Despite the depegging, TUSD's increasing depth and demand due to the SUI launchpad have secured its position as a major player in the stablecoin market. However, analysts from Kaiko have noted that TUSD liquidity has not kept pace with its volumes, making a depegging like this more likely.

The move also coincided with several users on #Aave and Compound borrowing large amounts of the token with organic transactions. The most common strategy was borrowing TUSD and swapping for USDC, effectively shorting #TUSD from its elevated price.

However, neither Aave nor Compound have a large supply of TUSD, causing borrowing rates to surge to over 100% APR on both platforms.

#crypto2023 #dyor

Treasuries are slightly down while membership and total snapshot spaces are increasing. And yes, Optimism Collective’s treasury size overtake of Arbitrum was a bit of an optimistic overreach as they are now back in the #2 spot.

DAO News

▪️Curve Finance recovered 73% of stolen funds 👉 https://bit.ly/47suvW9

▪️#MakerDAO’s Spark Protocol apparently blocks VPN users 👉 https://bit.ly/47qzDKq

▪️#Aave DAO proposal incentivizes delegates with regular and predictable rewards 👉 https://bit.ly/3YxVHz0

▪️#Decentraland DAO’s grants program now has a Community Builders category 👉 https://bit.ly/3QC8j62

▪️ApeCoin #DAO voted to give free ApeCoin #NFT shields to some ApeCoin holders and all its NFT holders for brand awareness in virtual worlds 👉 https://bit.ly/3DQnmBz
▪️1inch DAO’s amendment spotlights and encourages lower voting weight delegates 👉 https://bit.ly/3Yubi2h

▪️Spool DAO has integrated the digital custody provider, Fireblocks 👉 https://bit.ly/3DTQlo9

DAO Proposals

No high-importance proposals this week. Only 23 mid- and 36 low-importance ones.

Most proposals deal with Parameters (23) and Team (24). Decentraland, Spartan Council, and Osmosis are especially active. 

Most active members by DAO

Looks like Stargate Finance has reached a peak of active membership, leaving 2nd place SyncSwap with a chance to overtake it if they merely quadruple their number of voters.

Stargate Finance - 801.5k

SyncSwap - 220.9k

Arbitrum One - 192.8k

PancakeSwap - 130.4k

Optimism Collective - 88.7k

Aave Chan (ACI) is a delegate platform designed to actively participate in the management of Aave and contribute to the development of the protocol.

If the proposal is approved, the allocated budget flow will be activated with a calculation for 6 months and an estimated amount of $250,000.

https://app.aave.com/governance/proposal/?proposalId=202

#Aave #CryptonResearchBot

Avalanche Coin (AVAX) is a cryptocurrency developed by Ava Labs for use on the Avalanche platform. Avalanche aims to provide a scalable and secure network while also supporting decentralized finance (DeFi) applications.

AVAX offers practical payment solutions by making payment transactions within the network faster and more cost-effective. Additionally, users can earn passive income by staking AVAX coins through a shared wallet contribution.

Review of AVAX Coin

In a market filled with numerous programmable coins, what sets Avalanche Coin (AVAX) apart are its distinctive features, particularly its emphasis on security. Security ensures that transactions are recorded immutably. Experts hold positive opinions about AVAX Coin based on reviews and analyses, indicating that the project has a reliable and fast infrastructure.

The Avalanche platform claims to be exceptionally fast in terms of transaction speed and is dubbed the "fastest platform for smart contracts." This speed is achieved through a structure that links three different chains together, each with distinct roles, making the network fast and scalable.

Avalanche Coin holds a significant position among blockchain projects. Its rise in 2021 is believed to reflect the potential of the Avalanche platform. Generally, due to its low transaction fees and rapid transaction infrastructure, AVAX Coin is predicted to have a positive impact on its future success.

Future of Avalanche Coin

Developers in the cryptocurrency field have confidence in the Avalanche ecosystem and see its potential. Currently, over 150 projects are working on the Avalanche platform. According to DeFi Llama, Avalanche is favored for decentralized finance applications, surpassing #SOLANA in terms of total value. Prominent projects include credit applications like #Aave (AAVE), decentralized exchanges, and #Web3 bug bounty programs like Immunefi.

According to experts, the future of AVAX Coin looks promising. Avalanche makes a positive impression with its robust management team and overall identity. Confidence in the project, increasing interest, and new partnerships could contribute to its future growth. While the exact price performance cannot be definitively predicted, there is optimism that Avalanche Coin will gain positive momentum in the long term.

Avalanche Coin Price Predictions (2022-2026)

Looking at the future price predictions for Avalanche Coin, experts and analysts offer the following insights:

2023 AVAX Price Prediction: Analysts suggest that AVAX Coin could surpass $85 by the end of 2023.

2024 AVAX Price Prediction: Different sources propose that AVAX Coin might reach $100 or higher in 2024.

2025 AVAX Price Prediction: Some analysts predict that Avalanche Coin could reach around $180 in 2025.

2026 AVAX Price Prediction: Experts anticipate that AVAX Coin could trade in the range of $160 to $360 in 2026.

2027 AVAX Price Prediction: Analysts forecast that AVAX Coin could be priced between $200 and $210 in 2027.

Note: The provided information is for educational and informational purposes only and should not be considered as financial advice.

$AVAX