DeFi tokens continue to suffer as Bitcoin dominates

DeFi tokens continue to fall as the price of BTC rises.

Many leading tokens have lost over 70% since their all-time highs.

DeFi TVL still remains high at over $ 11 billion.

Much of the interest and media madness surrounding the decentralized finance (DeFi) industry that emerged last summer has certainly started to wane, especially when it comes to token prices. Many of the top performing Crypto Genius assets are still bleeding despite the uptrend in the larger cryptocurrency market.

In terms of total locked-in value, the DeFi space still looks bullish with only an 8% drop in crypto collateral in the ecosystem from its all-time high. The current figure stands at $ 11.3 billion according to DeFi Pulse, however, the dollar-denominated measure that remains high could be due to Ethereum prices recovering $ 400.

The same cannot be said of the majority of DeFi-related tokens, however, as most continue to drain while Bitcoin’s market share slowly consumes them. Messari researcher Jack Purdy attributes this to an oversaturation of projects combined with insufficient new capital entering space.

The carnage continues.

This is what happens when there are too many projects with not enough money going into the space.

For those who are able to provide real value, we’ll look from afar and salivate these reviews ūü§§

Le dump DeFi continue

The funds that were randomly tossed into DeFi tokens over the summer appear to be moving towards Bitcoin as BTC recently hit an almost three-year high of $ 14,400.

Looking at top tokens by protocol, Uniswap’s UNI suffers among the rest with another 5% drop so far in the day and is trading for $ 1.82.

Since its historic high of nearly $ 8 in mid-September, the UNI has lost 76%. That decline may well get even worse when token farming ends on November 17 and millions of dollars are thrown into the market.

$ UNI – Now under $ 2, not surprisingly. When you give away millions of tokens for free, you can’t be surprised when they all start selling. I just hope people sold when they had a much higher price.

Second in terms of TVL protocol is the MakerDAO crypto mainstay, which is holding up well as its native MKR token has remained relatively stable in terms of price over the past year.

Wrapped Bitcoin is third in terms of TVL and it has also risen to record highs of over $ 2 billion in tokenized BTC on Ethereum.

No more suffering on the horizon

Compound Finance’s COMP token continues to take a hit with a 74% drop from its peak, while Aave’s 100-fold supply reduction program hasn’t stopped its new asset from dumping 52 % since last month.

The Curve DAO token, CRV, is in a world of suffering losing an additional 4% today and an agonizing 98% since its all-time high during the DeFi media madness in mid-August. Synthetix is ‚Äč‚Äčup for the year but has lost another 64% from its peak of $ 7.50 at the end of August.

Related Articles

Analista historicamente preciso pede uma queda de bitcoin para US $ 15.500-16.000

O Bitcoin explodiu em alta nas √ļltimas semanas em meio √† press√£o de compra institucional e de varejo em massa. H√° alguns que est√£o pedindo uma corre√ß√£o, no entanto. Um analista historicamente preciso disse recentemente que o Bitcoin pode em breve ser enviado para ‚Äú$ 15.500-16.000‚ÄĚ. Outro analista concordou com este sentimento, observando que o […]
Read more


Bitcoin hatte in den letzten Tagen M√ľhe, √ľber 19.000 $ zu halten, wobei sich der Verkaufsdruck oberhalb dieses Preisniveaus als erheblich erwies. Wenn die Verk√§ufer die Preisaktion der Kryptow√§hrung weiterhin unterdr√ľcken und sie f√ľr einen l√§ngeren Zeitraum unter diesem Niveau halten, k√∂nnte dies zu einigen ernsthaften Verlusten f√ľhren Ein H√§ndler bemerkt nun, dass Bitcoin in […]
Read more

L’Afrique peut-elle compter sur Bitcoin comme sa valeur refuge?

Le statut de Bitcoin Method en tant qu’actif de valeur refuge est depuis longtemps l’un de ses principaux arguments de vente. En fait, cela a permis √† la crypto-monnaie la plus grande et la plus dominante du monde d’accueillir davantage d’utilisateurs dans l’√©cosyst√®me, en particulier au vu du fait que les citoyens des √©conomies en […]
Read more
Search for: