DeFi Today: Uniswap Dominance, DYDX Rise And DeFi TVL At 2.5 Year Lows

Another pivotal observation by IntoTheBlock revolves around the Total Value Locked (TVL) in DeFi protocols, which has recently hit a 2.5-year low. This downtrend is rooted in a series of events that led to a negative feedback loop within the ecosystem. 

advertisement

 

DeFi Movers: Uniswap, Maker, and Avalanche

Uniswap price a cornerstone of the DeFi space, is currently trading at at $4.57 with a 24-hour trading volume of $91 million. While it witnessed a minor 2.33% decline in the last 24 hours, its significant impact on the DeFi ecosystem remains undisputed.

Uniswap comparison with AAVE, MAKER
                               Uniswap comparison with AAVE, MAKER, AVAX  Source: Coingape

Maker, a substantial player in the DeFi sector, is trading at $996.75. Despite a recent 5.93% dip in the last 24 hours, Maker’s influence in the market is undeniable. With AAVE price at $56.28,  Aave has experienced a slight 0.99% decrease in the last 24 hours. Its unique approach and growing ecosystem contribute to its standing in the market.

DeFi Comeback? Fluctuating Transaction Trends and Promising Signs

With a steep 80% drop in 2022, plummeting token prices set off a chain reaction that impacted yields, eroding the perceived value of DeFi protocols. Coupled with a waning appetite for speculative investments, the current TVL slump is unsurprising, marking its lowest point since 2021.

Recommended Articles
ethereum price crypto news
Crypto Presale Projects For 2023 To Invest; Updated List
Must Read
crypto exchange affiliate programs
Best Crypto Trading Bots List 2023
Must Read
ethereum price crypto news
Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated]
Must Read
ethereum price crypto news
Crypto Telegram Channels List 2023 [Updated]
Must Read
ethereum price crypto news
Top 10 Web3 Games To Explore In 2023; Here List
Must Read

The market Analysis unveils intriguing transaction trends, with a noticeable spike evident at the start of the current month. This surge is far from coincidental, as the data uncovers a sustained trend following a significant upswing observed in June. The robust transaction levels witnessed in this period underscore the growing adoption and resilience of certain DeFi assets.

Comments

Post a Comment

Popular posts from this blog

Australian Regulators halt Bitcoin, Ethereum funds for Investment firm

The Australian Securities and Investments Commission has passed interim stop orders against asset manager Holon Investments from offering or distributing three crypto-related funds—tracking Bitcoin, Ethereum, and FileCoin—to investors. Per the official statement, the said decision has been passed due to Holon’s non-compliant target market determinations [TMDs]. Australia’s apex market regulator made interim orders to protect retail investors from potentially investing in funds that may not be suitable for their financial objectives, situation, or needs. ASIC has made interim stop orders preventing Holon Investments Australia Limited from offering or distributing three funds to retail investors because of non-compliant target market determinations. https://t.co/AXpqgdAQnl — ASIC Media (@asicmedia) October 16, 2022 The official statement noted, The interim orders stop Holon from issuing interests in, giving a product disclosure statement for, or providing general
Read more

Litecoin halving completes as LTC sees increased payments adoption

Image
Litecoin block rewards have now halved to 6.25 LTC as the halving clock is reset for another four years. The Litecoin halving event has been completed with block rewards now halved at 6.25 Litecoin (LTC) per block.  On Aug. 2, the Litecoin blockchain went through its automated halving procedure at block 2,520,000. LTC miners are now getting half the rewards and the clock has been reset for the next halving in roughly four years' time. Litecoin founder Charlie Lee commented on the discrepancies between the different halving countdown timers, suggesting that the NiceHash one was the most accurate. However, all of them agreed on an Aug. 2 date. This is funny. I googled "Litecoin Block Halving Countdown" and checked the first 4 hits. The ETA for the halving is all over the map! From my quick calculation, I believe NiceHash's countdown is the most accurate. I expect the halving to occur in about a 1 day, 2 hours, and 30… pic.twitter.com/7lvOKCtiOh — Charlie Lee ️️ (@
Read more

Exploring the early CBDC adoption results beyond the hype

Image
Preliminary outcomes from countries where central bank digital currencies (CBDCs) have been introduced show mixed results. Despite widespread exploration and a handful of launched projects, CBDCs are yet to achieve global adoption.  According to an Atlantic Council report, 130 countries and currency unions are exploring CBDCs, with 11 nations having launched their digital currencies.  Сountries launched, testing or developing CBDCs, as of July 2023 | Data source: Atlantic Council This rapid pace of exploration is a significant increase from May 2020, when only 35 countries were considering a CBDC. Now, 64 countries are in an advanced exploration phase, including development, pilot, or launch. The European Central Bank (ECB) is on track to pilot its digital euro, while Australia, Thailand, Russia, and several other nations are continuing their pilot testing. In contrast, the United States’ progress on retail CBDC has somewhat stalled, but it’s forging ahead with wholesale CBDC deve
Read more