An overview of what is happening in the crypto markets, summarised by Crypto Finance AG Senior Trader Patrick Heusser in the market commentary.

Market commentary

Good Morning!

I think it is time for another DeFi update since we have seen some crazy moves over the past 30 days in a series of tokens.

You might remember when I explained some of my choices in my DeFi portfolio. The main reason was and still is the tokenomics behind the protocol. I mainly invest in tokens that show a kind of positive cash flow model for the token holder. Many of the tokens with that kind of concept did very well:

- DEX’s UNI, SUSHI, PERP, 1INCH, CRV, SNX, ALPHA, HEGIC
- Borrow/Lending AAVE, CREAM, COMP
- Investing Strategies YFI
- Service Providers LINK, BAND, DOT, LRC, NXM

As a benchmark you can use the BTC performance over the past 30 days which was +47%

There are also some highlights to mention which were for sure additional drivers of the price for some protocols. For example CREAM and their announcement of the Iron Bank (pretty cool name).

In short, CREAM is trying to get to the next step in the borrowing/lending space by enabling protocol-to-protocol lending. This has a knock-on effect to protocols that are “whitelisted” with the Iron Bank. Currently they have (obviously) cream.finance (CREAM), yearn.finance (YFI) and Alpha Homora (ALPHA). Those protocols are now able to offer their users undercollateralized borrowing. Some more infos you will find here and here.

The last innovation or development comes out of the curve.finance (CRV) corner. But it is actually a combination of protocols – curve.finance & Synthetix (SNX). It is not something a retail investor is interested in since it requires an amount over $1mio to capture the efficiency. It is more for liquidity management or large capital swaps between crypto or stable coin assets. A full round trip of how it works you will find here.

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