DeFi explodes when top tokens drop 50% in a week

The decentralized financial bubble (DeFi) seems to have burst for the time being;; Half a dozen premium DeFi tokens have lost half of their fiat value in the past seven days.

According to crypto market data firm Messari’s DeFi asset list, 32 of the 34 markets fell in the past week; Only PowerPool (CVP) and SushiSwap (SUSHI) recorded increases of prices in seven days.

Curve is one of the hardest hit marketswhich is down 65% this week, followed by meta with a loss of 58%, Ren with 52% AirSwap with 51% and bZx Network and Wrapped Nexus Mutual with a decrease of 49% each.

DeFi explodes when top tokens drop 50% in a week
DeFi explodes when top tokens drop 50% in a week

The sale wiped out gains in most DeFi markets in August Record volatility; More than 60% of the tokens on Messari’s DeFi list have been lost for 30 days at the end of this issue. Curve again leads the monthly losers with a loss of 58%, followed by Bancor with 57.8%, Kava with 50% and Meta with 46%.

Ethereum (ETH) tokens in general have suffered this past weekOnly 14 out of 178 markets are profitable, seven of which are stable coins. Only two Ethereum tokens saw double-digit gains this week, with ZB and Origintrail topping the list. with about 15% each.

Less than a third of Ethereum tokens retained 30-day profits.

The publication of Messari’s findings generated a large number of reactions on Twitter.. The user “stackthosesats” answered::

The DeFi goes straight to the ground. Just another set of scams.

Other traders seem to see falling prices as an opportunity to collect discounted tokens.;; Woman coins’ It says This is a “great time to pick a few at these prices”.

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