Recap: DeFi Week of August 12 🦄

Hi defiers, hope you’re all having a great weekend. This is something new I’m trying: A weekly recap. Let me know if you like it/hate it. Summing up: It was a rough week for ether but there was no sign of short sellers, a sign traders aren’t betting the rout will continue. Also, the composition of ether holders might explain why it’s been hard fro ether rallies to pick up steam. And while it’s been tough for ETH, loans in DeFi keep making records. Devs in the space continue working on new ways to bring Bitcoin to Ethereum, and wallets continue integrating DeFi products. There’s a new interest-gaining token, and a new DEX.

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