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