June 16, 2022, 11:24AM EDT
• 22 min read

Layer by Layer Issue 35: Celsius and More

Quick Take

  • In this weekly series, we dive into some of the most interesting data and developments across the Layer 1 blockchain landscape, from DeFi and bridges to network activity and funding
  • Underlying risks in the crypto economy are being exposed at an alarming rate as on-chain activities by troubled lender Celsius and the hedge fund Three Arrows Capital reveal the cascading effects of forced selling in the Ethereum ecosystem and beyond
  • As valuations in the market continue to shrink, users are starting to look cross-chain in their search for the best sources of on-chain liquidity
  • Meanwhile, TRON faces a major test with the depegging of USDD from USD

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