DeFi Daily News,March 1st, 2021

2 min readMar 1, 2021


1. Bitcoin’s price turned choppy on Friday as the №1 cryptocurrency by market capitalization logged its worst weekly performance since March 2020 when the pandemic hit the global economy. Bitcoin (BTC) trading around $46,244 as of 21:00 UTC (4 p.m. ET). Slipping 5.7% over the previous 24 hours, which trading range was between $44,180.99-$49,325.91.

2. On March 1, according to the data from The Block Research, the monthly trading volume of stablecoins on the chain hit a new high in February, exceeding USD 360 billion for the first time. As expected, Tether (USDT) still dominates, with USDT accounting for 63.5% of the transaction volume, of which 18.7% are US dollars (USDC) and 9.6% are DAI. USDT’s trading volume in February also reached the highest ever of 232 billion U.S. dollars. On February 10, the market value of stablecoins exceeded 30 billion U.S. dollars, indicating that USDT currently in circulation exceeded 30 billion U.S. dollars.

3. According to BlockBeats news, in tonight’s community Q&A, regarding the relationship between ETH2.0 and Rollups, Ethereum founder V God said: “What we have to solve now is the problem of scaling. Now we don’t need Ethereum 2.0, we need Rollups. After Rollups, Ethereum transaction volume can be increased by 100 times. Of course, long-term sharding is also needed, but this problem is not urgent now. The current value of Ethereum 2.0 is mainly to migrate to Pos. The plan is to first become a chain, and then Consider sharding again.”


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