After remaining above $40 billion for much of 2023, the total value locked in decentralized finance, or defi, fell below the threshold on August 17, reaching $37.9 billion by August 22. Additionally, from August 13, the top 100 DeFi tokens have decreased by $1.74 billion in value over nine days.
Defi’s Rocky August: Value Retreats…
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The value of the crypto market has started to slide again after a bullish run-up over the last seven weeks. The total value locked (TVL) in decentralized finance (defi) has slipped below the $50 billion mark to $49.8 billion. The TVL in defi has fallen by 2.24% over the last 24 hours. During that same…
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Aave has halted ETH lending until the Merge has gone through, while Compound Finance has opted to cap the number of loans and introduce a “jump” interest rate model. The growing number of speculators taking out Ether (ETH) loans to maximize their potential to earn forked Ether Proof-of-Work tokens (ETHPoW) has been causing headaches for…
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The Cryptopunks non-fungible token (NFT) collection has seen a new record as the NFT Cryptopunk #5822 sold on Saturday for 8,000 ether or more than $23 million. The new owner of the NFT, Deepak Thapliyal, the CEO of a blockchain firm called Chain explained that he used leverage via Compound Finance in order to acquire…
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Cross-chain collateral will soon be available with Compound Finance. Decentralized finance lending protocol Compound has unveiled a new blockchain that will enable cross-chain collateral. It is the latest move to mitigate expensive operations on the Ethereum network and enable more interoperability in the DeFi ecosystem. The new Gateway chain, announced on Mar. 2, has been…
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