$106,128.00
-0.31%$2,538.19
2.47%$2.39
-1.40%$651.28
-0.01%$167.93
-2.59%$0.999896
0.00%$0.226746
-2.31%$0.744967
-1.48%$0.266601
0.03%$2,539.58
2.48%$105,816.00
-0.35%$3.86
-1.49%$3,038.85
2.83%$15.88
0.42%$22.36
-2.44%$0.287293
-1.65%$26.58
-1.25%$0.00001469
-1.99%$0.194759
-0.87%$8.62
-1.14%$393.38
-3.23%$3.04
-2.80%$98.88
-1.82%$4.63
-2.98%$0.999722
-0.01%$2,547.15
3.31%$343.37
1.61%$5.21
0.83%$2,702.13
2.89%$1.00
-0.10%$0.00001338
-3.50%$0.746257
0.01%$1.001
0.25%$106,138.00
-0.28%$30.26
-0.28%$250.62
8.46%$414.07
-2.40%$5.99
-1.70%$2.79
-1.82%$5.24
1.29%$52.59
-0.90%$202.55
-2.27%$0.935858
-2.39%$1.00
0.00%$0.096533
-2.90%$0.108744
-2.13%$35.51
0.81%$18.58
-0.24%$5.24
-1.38%$21.61
-0.84%$12.94
-1.90%$0.728361
-1.58%$0.02819619
-2.27%$1.17
-0.02%$4.61
-1.61%$1.052
0.06%$0.37647
-2.91%$4.80
-3.15%$1.00
-0.09%$105,794.00
-0.27%$0.233729
-3.15%$0.740135
-4.69%$0.223169
-1.71%$2.87
-0.97%$0.395173
0.23%$4.39
0.00%$2.65
-1.40%$1.13
-3.36%$4.55
-0.35%$0.501173
-2.09%$0.00001985
-3.39%$2,558.15
3.13%$1.002
-0.09%$11.74
0.96%$0.493934
-2.90%$175.18
-2.12%$2,644.92
2.25%$93.75
-2.58%$0.862038
-2.94%$4.69
-4.66%$1.98
-1.48%$1.26
-2.20%$0.01917591
-1.87%$1.22
-8.49%$1,741.71
0.16%$0.223703
-3.26%$2,877.84
1.87%$0.647949
-2.05%$0.718554
-1.26%$0.77908
-3.99%$11.88
-3.60%$0.999185
-0.14%$105,722.00
-0.50%$0.072573
0.08%$0.11088
-2.51%$1.006
-5.15%$0.0000992
-0.57%$2,701.44
2.05%$3.17
-5.78%$0.674715
-3.21%$0.899393
-2.23%$652.97
0.20%$1.00
-0.02%$0.999655
0.00%$217.64
-2.03%$187.80
-1.28%$0.01798625
-1.95%$105,658.00
-0.43%$0.01917341
-3.79%$106,893.00
0.92%$0.01298945
-0.54%$0.90454
-3.48%$104,849.00
0.91%$0.641456
-3.07%$1.00
0.01%$3,223.91
-0.72%$2,660.54
2.54%$0.780872
-2.71%$0.224235
-2.20%$3,237.74
-0.59%$0.312218
-2.99%$22.43
0.95%$12.70
-2.01%$0.00000073
-1.44%$2,661.94
2.97%$3.95
-0.89%$2.23
-1.88%$36.04
-2.42%$0.069528
-7.20%$0.117108
-1.39%$4.15
0.18%$0.01976461
-1.65%$0.710943
-2.31%$41.07
-1.61%$0.997783
-0.01%$0.618791
-2.28%$1.95
-0.95%$0.406349
-2.71%$2.06
-1.08%$1.80
-3.21%$1.00
0.08%$0.325389
-4.53%$111.11
0.02%$1.10
-0.45%$0.226918
-2.23%$2,545.85
2.97%$2.06
-3.62%$2,557.75
3.29%$0.997463
-0.24%$106,178.00
-0.16%$0.654737
-3.53%$2,698.96
2.42%$18.36
-3.01%$0.631766
-2.56%$0.437316
-5.61%$2,564.03
0.38%$0.138022
-10.50%$0.643448
-3.74%$1.001
-0.11%$105,674.00
-0.59%$2,547.48
2.97%$0.00856787
-2.44%$3.02
-0.39%$7.36
-4.14%$0.152715
-5.57%$0.999893
-0.00%$0.433017
3.27%$0.184102
-2.73%$0.70934
6.89%$0.06481
1.83%$103,604.00
-0.98%$0.185255
-0.94%$1.92
2.22%$0.461245
-2.51%$0.00502226
-3.19%$6.52
-2.32%$1.68
3.28%$0.050034
-0.59%$0.08934
-1.75%$0.00002263
-2.63%$0.094975
-2.52%$0.44115
-6.57%$0.00000043
-0.23%$2,532.96
2.56%$0.00000109
-2.53%$0.04378288
-2.87%$1.30
-3.86%$0.0079246
-1.80%$1.37
-7.09%$1.087
0.00%$1.008
1.15%$1.00
0.00%$0.171572
-3.37%$0.151827
-2.73%$0.00572067
8.34%$0.999967
-0.10%$43.13
-4.64%$106,656.00
1.68%$0.0045732
0.24%$1.54
-2.01%$0.390443
-0.04%$0.999942
0.04%$0.233471
-3.33%$34.20
0.34%$3.14
-2.83%$2,681.06
2.44%$0.01894936
-0.86%$0.0036112
-0.85%$0.33476
-7.15%$26.79
-0.89%$3.93
3.53%$1.001
0.23%$133.39
0.18%$0.371595
-4.46%$0.03536231
-0.08%$2,778.26
2.09%$0.834072
-1.30%$0.347226
-2.02%$0.767775
-5.49%$1.10
0.12%$105,369.00
-0.87%$0.00006246
-0.87%$2,774.46
3.07%$0.829628
23.61%$0.00000159
-1.24%$1.001
0.15%$19.75
-0.92%$2,554.56
3.20%$0.999837
-0.01%$0.227302
0.62%$1.00
0.13%$0.285144
-4.21%$0.252141
-2.93%$0.688453
-2.14%$22.50
-2.22%$2,530.98
2.49%$2,756.71
3.40%$0.00072638
-3.63%$18.58
-3.87%$2.72
0.35%$0.0033636
-2.89%$26.77
-0.69%$0.00284843
-2.83%$0.496868
-5.47%$23.47
-1.53%$0.999638
-0.02%$0.562673
-3.34%$0.00
-3.79%Reading
The prices of top decentralized finance (DeFi) tokens have declined significantly over the last month. The DeFi Composite Index, launched by major crypto exchange Binance in late August, has fallen by over 50% since its inception.
According to Binance, the index is calculated using weighted averages of a DeFi tokens basket and tracks the market performance. It includes lending platform Compound’s COMP, DeFi darling yearn.finance’s YFI, Band Protocol’s BAND and other popular DeFi tokens.
Initially, the index reached a peak value of $1,189 but has now fallen to its current price of $515—due to a decline in the prices of its underlying coins.
DeFi’s decline, which began in mid-September, has continued over the past week, according to crypto analytics platform CoinGecko. High-profile projects such as Cream (CREAM), yearn.finance (YFI), Sushi (SUSHI), Uniswap (UNI) and Curve (CRV) remain in a downtrend and have each lost roughly 27% to 55% of their value over the past week.
Commenting on the behavior of YFI, which peaked above $43,600 in the past and is now trading at roughly $18,000, The Block’s analyst Larry Cermak noted that its future is currently unclear, partly because there are not enough people willing to buy YFI at such prices.
“I think that’s part of it but my hypothesis is that it is because yield is dropping and with the lack of market buyers, it’s not clear when it will return in strength,” Cermak tweeted yesterday, adding, “Therefore most metrics that people watch for yearn are down in recent weeks and morale of holders is low.”
Analyst Johnny Mo also pointed out that YFI charts are not looking promising for the foreseeable future. He expects the price to fall towards “at least [the] $10,000 range,” adding that YFI’s horizontal support is only at the $6,000 level.
Not a good look for $YFI. Target at least $10k range, but horizontal support down there is at $6k. pic.twitter.com/ogflPRWhWr
— Jonny Moe (@JonnyMoeTrades) October 3, 2020
On the other hand, Alex Svanevik, CEO of analytics platform Nansen, expressed confidence in the DeFi industry, saying that it will ultimately emerge victorious thanks to its low entry barriers.
The main reason DeFi will win is that it has the lowest barrier to entry.
Fintech companies spend half their time asking for permission from the incumbents.
Meanwhile, DeFi teams can innovate.
— Alex Svanevik 🧭 (@ASvanevik) October 4, 2020
“Fintech companies spend half their time asking for permission from the incumbents. Meanwhile, DeFi teams can innovate,” he added.
But that won’t affect the prices in the short term.
Digital assets may be firmly in the mainstream, with institutional involvement and a crypto-friendly president in the White House. But hackers and fraudsters are having a field day so far this year. Crypto users have lost over $1.7 billion to these groups—already 14% more than 2024’s total losses of $1.49 billion, according to blockchain security firm Immunefi. In the same period last year, losses totaled $420 million, the firm said. The report comes amid ongoing concerns about the vulnerabil...
Libre, a regulated real-world asset platform, and the TON Foundation have launched a $500 million tokenized fund on The Open Network, aiming to bring Telegram’s $2.4 billion in corporate debt onto the blockchain for the first time. Dubbed the Telegram Bond Fund, the product allows institutional and accredited investors to gain exposure to Telegram’s outstanding bonds directly through the TON blockchain, according to a statement shared with Decrypt. The fund will also participate in future Telegr...
Solana decentralized exchange Raydium has deployed its native token launchpad, which is designed to rival the popular Pump.fun. This comes almost a month after Pump.fun deployed its own decentralized exchange, cutting ties with Raydium in the process. LaunchLab by Raydium offers a more sophisticated token creation process, compared to Pump.fun’s simplistic approach. The new launchpad allows for deployers to toy with the token supply, how many tokens will be sold on the bonding curve, and how muc...
