DeFi Daily News,February 1st, 2021

1. Even Elon Musk’s power has its limits, apparently, as bitcoin gave back all its gains from a nearly 20% pump that coincided with commotion over the tech mogul’s Twitter account. Before the weekend, the Tesla CEO changed his Twitter account biography to read “#Bitcoin,” sending social media into a frenzy. Coinciding with the hoopla, BTC (-4.1%) jumped from around $32,200 to above $38,400 in a couple hours. Several hours later, however, the leading cryptocurrency started to drop, dropping below $34,000 on Friday evening. Through the weekend, BTC continued to trade below $35,000, dropping even further on Sunday. At last check, BTC was trading at $32,831.88 on CoinDesk, up slightly from its 24-hour low of $32,229.55.

2. According to the ChainNews, data from The Block Research shows that the trading volume of Uniswap, a decentralized exchange, exceeded US$30 billion in January, a record high. Uniswap’s transaction volume in December was 15 billion U.S. dollars, and the last historical peak was September, when the monthly transaction volume was 18.5 billion U.S. dollars. In addition, data on the chain showed that Uniswap had a record high number of users in a single day on January 31, exceeding 40,000 users. Overall, the monthly transaction volume of the DEX ecosystem exceeds 60 billion U.S. dollars, and the monthly transaction volume of SushiSwap and Curve is 13.48 billion U.S. dollars and 5.92 billion U.S. dollars, respectively.

3. According to BlockBeats news, on January 31, Yam Finance tweeted that the deadline for migrating from YAM v2 to v3 is two weeks away. The deadline for migration is February 15, 2021 UTC time, which is Beijing time 00:00. The official reminder asks users to migrate to V3 to avoid potential capital loss.

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