DeFi market fell off cliff in Q2 but users haven’t given up hope: Report
While on-chain activity slowed down, the DeFi industry has managed to retain most of its daily active users. Despite the decentralized finance (DeFi) market suffering a 74.6% market cap decline in Q2, user activity has remained relatively resilient, says CoinGecko. In a report published by the crypto data aggregator on Wednesday, CoinGecko reported that the overall DeFi market cap fell from $142 million to $36 million over the second quarter, due mainly to the collapse of Terra and its stablecoin TerraUSD Classic (USTC) in May. CoinGecko also noted a rise in DeFi exploits in the quarter....
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Its price fell Tuesday but the amount of BTC in DeFi is at its highest in over a month.