DeFi space capitalization fell by …
DeFi space capitalization fell 25% in one day
Assets related to the space of decentralized finance lost 25% of their value in one day, according to data from the analytical company Sentiment. At the same time, the trading volumes of these tokens decreased by more than 30%.
During the last week, the deepest was the fall of the most popular assets of the previous period: SUSHI (-50.9%), UNI (-38.2%) and YFI (-31.3%).
“The crypto market plunged into a sea of red this week. The fall of most of the leading DeFi tokens over the past seven days is in the double-digit range, “analysts say.
Sentiment argues that many members of the crypto community have already come to terms with the end of the DeFi experiment, but the “whales” continue to accumulate tokens of individual projects, for example SNX. Analysts also state that the combined value of all DeFi assets is now at an absolute minimum relative to the levels at which they last moved. According to the company, this may indicate that they are undervalued by the market..
YFI, one of the most sought-after assets in the DeFi space, is currently trading at $ 13,000, down 70% from a peak of around $ 44,000 on September 12th. Users who bought 1 YFI at the time of listing and hold a token on the Coinbase exchange incur an unrealized loss of more than $ 25,000. Some tokens in the same category lose over 90% of their highs.
Earlier, TTRCoin reported a decrease in the DeFi index of the Binance cryptocurrency exchange by 50% in a month. On October 6, it lost another 20% of its value. Compared to the first day of trading at the end of August, the index fell by 63%.
At the same time, the volume of assets in the pools of such protocols is decreasing. According to DeFiPulse, the figure topped $ 11 billion at the end of September and has since dropped to $ 10 billion.
NuggetsNews founder Alex Saunders recalls: “On September 2, I wrote:“ Take profit. DeFi is a bubble. A lot of protocols have passed from the category of profitable farming to financial pyramids ”. ETH peaked at $ 480 that day. Were you greedy? ”
The capitalization of Tether has exceeded $ 15 billion, having increased 4 times since the beginning of the year The capitalization of the stablecoin USDT has exceeded $ 15 billion….
USDT capitalization exceeded $ 7 billion; Circle says “explosive interest” in stablecoins Stablecoin-centric startup business model Circle…
Ripple capitalization is approaching $ 150 billion contrary to forecasts of skeptics Ripple course, which, according to some analysts, could not continue…
Coin Metrics: Short-Term Holders Spur Bitcoin Crash The recent drop in bitcoin price was driven primarily by…
Option bidders doubt bitcoin rally amid halving Option bidders doubt bitcoin price rise after halving…