Weekly Price Movements:
Aug 11 13:30 - Aug 16 00:00 UTC
Aug 9 00:00 - Aug 16 00:00 UTC
YAM farming was the highlight of this week. It started out as an experimental protocol with governance, elastic supply, distribution themes from Compound, Ampleforth, and YFI respectively. It’s speculated that many of the coins with high yields on YAM’s farm (MKR, SNX, LEND, LINK, COMP, AMPL, ETH. YFI) rallied in response to market demand for farming. After a bug in the rebasing function was discovered, the community rushed to patch this via the governance protocol. Alas, the bug was not fixed and shortly after the rebase on Aug 13 YAM crashed from a 57M market cap. Many of the coins yielding YAMs sold off soon after.
Strong inflows into LINK this week - up about 50%. Dave Portnoy tweets “$link to the moon.”
BTC and ETH relatively stable for the beginning of the week with ETH pulling ahead by about +7.5% on Aug13.
FTX SRM Staking is live!