DeFi Not Spared From Crypto Massacre As TVL Drops Almost 50%
The decentralized finance (DeFi) has not been spared from the recent crypto onslaught. This crash that had finally put top coins like Bitcoin and Ethereum 50% below their all-time high values had also dragged the DeFi market down with it. What has resulted is a near 50% drop in total value locked (TVL) across all […]
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While the crypto economy shed billions this week, the total value locked (TVL) in decentralized finance protocols slipped under the $200 billion range to $196.6 billion. The TVL in defi lost roughly 3.16% during the last day, and the $592 billion in smart contract protocol tokens dropped in value by 3.5% over the last 24 hours. Defi TVL Slips Below $200 Billion, Numerous Protocols Shed Billions, Dex Trade Volume Dives The value locked in defi has slipped under the $200 billion mark for the first time since March 16, 2022. At the time of writing the total value locked (TVL) is roughly....
The latest data from Santiment shows that the collective market capitalization of all defi-related assets dropped by 25.1% on October 7, while daily trading volumes went down 30.2%. The data also shows popular defi tokens like Sushi took heavy knocks after dropping by 50.9% during the week. Also making the list of heavy droppers is Uniswap’s new token (UNI) which lost 38.2% and the YFI which dropped by 31.3%. According to Santiment’s Defi watchlist, many of these decentralized finance (defi) tokens have already erased the bulk of their summer gains. Meanwhile, as expected,....
The state of decentralized finance (defi) in terms of total value locked (TVL) has been tumultuous, to say the least, and currently the TVL in defi today is approximately $54.95 billion. The TVL has not been this low in over five months since March 29, and the most dominant defi protocol today is Makerdao, leading the pack by 13.27% Value Locked in Defi Slips Under $55 Billion At the time of writing, the top smart contract platform coins by market capitalization are up against the U.S. dollar in value, roughly by 0.6%, and the smart contract token economy is valued at $296 billion. While....
Drops, a platform that facilitates loans for NFTs and DeFi assets, has revealed the first phase of the three-phase rollout of its NFT Lending platform. Per the official release, the Drops NFT lending platform offers users options to use their NFTs as collateral in return for access to trustless loans from Drops’ permissionless NFT lending pools. The NFT lending platform will be first launched on the testnet, flagging off the journey towards the eventual mainnet inauguration. Interested NFT owners can drop in their applications to join the testnet and witness history in the making. The....
The mainnet launch opens up the crypto ecosystem to instant decentralized loans using non-fungible tokens (NFTs), JPEG and metaverse assets as collateral. Drops DAO, a decentralized lending platform, is celebrating the launch of its mainnet, unlocking its ecosystem for users to borrow loans and interact with everything the ecosystem has to offer. Announced Wednesday, the transition to the mainnet will provide users with collateralized loans for NFTs, DeFi assets, and metaverse collections. The launch of the mainnet allows users to lock their assets as collateral, providing the NFT and DeFi....