DeFriday #1: May Market Meltdown Madness

Welcome to the first edition of DeFriday! This is a weekly newsletter I'm experimenting with focused on news & updates from the world of Decentralized Finance.

If you’re new to DeFi, definitely check out my first two articles on the subject on creating a crypto savings account and automating your asset allocation. 

And if you have any tips or questions you'd like to see covered next week, be sure to tweet at me: @nateliason.

Market Crash

This is definitely an exciting week to start this newsletter. On Wednesday, Bitcoin dropped from its Tuesday high of ~$45,000 to a low of about $32,000. Ethereum fell from a high of $3,500 to a low of $2,100.

Overall the market dropped about 30% in a day, and while there's been some rebound (Bitcoin is currently at $40,000, Ethereum at $2,800), the market is certainly quite a bit lower than it was last week.

It is helpful to keep things in perspective though. This is the 1 week Ethereum chart: