DeFi Weekly Recap｜The Market is Recovering, and the NFT Summer is Still Hot

This week, we saw clear signs of a rebound in the DeFi market. Ethereum's protocol revenue increased by 278% to $89.43 million. The TVL of the 10 mainstream DeFi protocols increased by an average of 11%. The TVL of dYdX has increased by 36%.

The overall leverage ratio of the market has also increased. The total outstanding debt of loan assets increased by 7% this week. At the same time, the interest rates of some popular lending agreements such as Cream Finance and dYdX have also increased.

As for the NFT market, the heat has not receded at all. Axie still dominates in sales, with sales reaching $200 million in the past 7 days. Some popular digital NFT avatars began to receive more widespread public attention, and Pudgy Penguin appeared on the New York Times column.

As the DeFi market expands, the tool and data services industries are catching up. Dune Analytics completed the financing of US$8 million, and security rating agreement DeFi Safety raised US$1 million for its seed round.

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