DeFi Market Massacre Continues – Tokens Stuck in Minuses

DeFi Market Massacre Continues – Tokens Stuck in Minuses



DeFi Market Massacre Continues – Tokens Stuck in Minuses

  • Over the past seven days, over 30 DeFi tokens are in the red zone

  • SushiSwap recovers from a fall

  • Curve (CRV) is doing the worst

International consortium of news organizations, developing standards for transparency.

As bitcoin consolidates above the key $ 10,000 mark, the rest of the cryptocurrency assets, especially the small-caps, are in discouragement. Even the decentralized finance (DeFi) token industry is rapidly descending from heaven to earth.

Despite the recovery over the last day, almost all tokens assessed by analyst firm Messari are in the red zone:

Source: Messari

Curve on sale

Curve (CRV), a stablecoin exchange liquidity pool built on the Ethereum blockchain, has seen its deepest decline. Token As the use of cryptocurrencies grows, new types of tokens are emerging. They can represent value or something intangible like voices. Two … More fell 53%, giving skeptics reason to argue that DeFi Decentralized Finance (DeFi) is this is financial services, technology-based blockchain, which offer users access to open, efficient and … More is another bubble like the one we saw in 2017. And he’s ready to burst at any moment.

DeFi Market Massacre Continues - Tokens Stuck in Minuses

CRV is one of the DeFi tokens added to the listing of the cryptocurrency exchange Binance, which is currently receiving a storm of criticism. The company even added SUSHI a few days after launching the project. However, the platform found itself in a delicate position when investors suspected an exit scam from the founder of the project.

This story happened on September 5-6, ultimately the founder passed his share of SUSHI and the leadership of the project to another person. The coin managed to partially recover the losses, but there is no talk about the resumption of the bullish trend..

DeFi Market Massacre Continues - Tokens Stuck in Minuses

Another standout project, (YFI), lost about a third of its value, wiping out investor profits over the same period..

WeChat users are looking for DeFi tokens

Experienced traders mostly take a wait and see attitude, they want to see how the situation around DeFi develops and how the mechanics of this market work. On the other hand, WeChat users are not afraid of uncertainty..

Cole Kennelly, organizer of DeFi NYC, provides statistics on WeChat industry trends. He noted that the number of relevant search queries is holding near record highs. In early September, it approached 1 million.

The number of WeChat searches for #DeFi is at record levels.

DeFi Market Massacre Continues - Tokens Stuck in Minuses

Almost 1 million unique searches on September

– Cole Kennelly ⬙ (@ColeGotTweets) September 7, 2020

Google Trends shows a similar picture, with search volume growing since mid-July..

Source: Google Trends

DeFi remains uncharted territory, even in the cryptocurrency world The only thing the industry can guarantee is high volatility.


All information, contained on our website, published on the principles of good faith and objectivity, and for informational purposes only. Reader yourself bears full responsibility for any actions, committed by him on the basis of information, obtained from our website.

Share Article