On-chain activity under the microscope: Dai lending rates down, DEX volume increases

Quick Take

  • Rates for Compound’s Dai market have fallen as supply increased to over $6.8m
  • Dai supply is up 4% over the week as bulls seek leverage and arbitrageurs close spreads between Maker and Compound
  • Daily transaction volume across Bitcoin, Bitcoin Cash, and Ether remain low versus year-to-date average
  • IDEX continues to dominate DEX volume, despite the recent implementation of KYC requirements
  • One Augur trader has realized $100,000 in profits since launch, close to 50% of all platform profits

The public and transparent nature of blockchain networks provides a wealth of data for analysts to play with. By leveraging this access, industry participants can look beyond the wholly speculative market dynamics and begin to measure the performance and utility afforded to users by these emerging networks.

Compound rates fall as Dai supply increases:

Compound’s Dai Supply APR has dropped to 2.89%, down from 11% in December.