$118,116.00
1.11%$4,201.60
0.48%$3.19
-3.96%$802.14
-0.84%$179.70
-0.55%$0.999802
0.00%$4,194.16
0.63%$0.232806
-1.18%$0.339204
0.69%$0.793937
-1.69%$5,070.97
0.57%$117,994.00
0.91%$21.88
5.04%$43.18
0.41%$0.437636
-3.44%$3.83
-2.29%$4,510.80
0.49%$4,503.10
0.55%$563.59
-3.88%$0.2568
-3.95%$1.001
-0.01%$4,201.11
0.39%$23.50
-4.01%$119.66
-4.07%$3.34
-1.05%$9.03
0.44%$0.999269
-0.03%$0.00001341
-1.04%$1.00
-0.01%$44.78
0.48%$10.65
-5.16%$118,145.00
1.07%$4.01
-1.76%$1.19
-0.03%$4.46
-1.59%$0.156914
-3.06%$0.00001202
-2.29%$272.93
-3.73%$0.743509
2.29%$301.58
0.15%$384.68
-0.13%$22.83
-2.16%$1.026
-2.46%$2.73
-2.22%$0.411237
2.29%$1.013
-2.45%$4.70
-3.31%$5.58
-1.10%$46.57
0.16%$219.35
-0.78%$4,198.73
0.38%$0.092853
-3.01%$0.03840211
0.76%$0.456187
-1.03%$1.00
0.00%$0.26236
-3.65%$1.00
0.03%$0.2426
-3.03%$4.63
-1.89%$0.02492109
-1.05%$0.0000267
-1.42%$16.85
-1.07%$3.87
-2.74%$4,777.79
0.50%$6.66
3.44%$4.56
-0.17%$1.041
-2.69%$1.062
0.02%$4,403.88
0.37%$9.31
-2.97%$0.319235
-1.87%$191.27
-0.91%$0.705401
-0.55%$0.08628
-1.40%$5.12
-0.15%$2.57
-1.26%$1.88
-2.26%$112.76
-3.42%$0.02264039
-4.03%$118,083.00
0.97%$4,418.28
0.44%$0.513752
-0.81%$12.00
7.97%$4,532.28
1.19%$4,499.77
0.65%$0.999866
-0.02%$0.088265
-5.77%$0.02868488
-3.54%$14.06
-3.98%$0.999825
-0.03%$1.35
-0.01%$0.765421
-3.40%$0.956852
-2.45%$0.736474
-1.77%$1.76
-3.21%$1.004
0.56%$4,431.87
0.46%$0.999689
-0.01%$3,386.39
-0.01%$0.999972
-0.00%$118,103.00
0.98%$1.27
7.91%$43.24
0.46%$0.00011611
-3.63%$0.583795
2.20%$0.00314213
-7.08%$202.79
-0.69%$0.209234
-2.92%$1.07
-3.44%$801.24
-0.82%$0.999226
-0.06%$1.16
5.37%$0.387383
-1.02%$0.097322
-1.08%$0.999823
0.01%$0.308734
-1.24%$0.980098
-2.45%$2.83
-1.88%$117,866.00
1.05%$29.14
-0.82%$3,385.57
0.04%$1.12
0.05%$4,198.30
0.34%$0.870977
1.11%$118,157.00
0.36%$5.44
0.96%$1.37
-3.79%$3.32
9.99%$0.151646
-0.85%$4,385.09
0.71%$0.853641
-0.18%$0.533447
-1.45%$235.92
-0.78%$0.203556
-1.94%$0.01736478
-0.69%$0.01610478
-1.03%$0.466439
0.92%$4,192.91
0.59%$4,200.42
0.47%$0.124978
-2.26%$0.291589
-2.47%$4,498.51
0.94%$112.12
0.00%$118,246.00
1.40%$2.09
-2.35%$0.998447
0.02%$1.078
-0.74%$1.86
-0.52%$0.00000068
-0.57%$4,471.90
0.37%$1.00
0.07%$38.76
-1.79%$0.623777
7.59%$0.38155
-1.67%$4,201.06
0.52%$4,631.78
0.64%$0.232285
-1.64%$0.00818346
-0.10%$0.193973
5.36%$0.059078
-2.93%$0.304738
-2.29%$1.43
3.09%$117,991.00
0.99%$0.99765
-0.02%$0.407316
-3.00%$0.00000146
0.95%$28.21
3.26%$3.01
-0.58%$0.00937782
6.67%$116,698.00
1.10%$4,545.04
-0.77%$0.491695
-2.49%$0.00589231
0.85%$0.51911
-1.55%$0.073023
-0.29%$0.13429
-1.11%$7.70
-1.30%$0.628351
-2.30%$0.649126
-0.89%$1.19
-2.72%$4,190.76
1.41%$53.11
-2.71%$1.41
-1.56%$0.998582
0.00%$0.999656
-0.01%$0.00000117
-14.02%$0.01410629
-1.85%$4,202.66
0.66%$0.784189
2.87%$0.00000047
-0.65%$0.391079
9.85%$6.97
-0.53%$8.04
-3.55%$6.42
-2.66%$15.81
-1.63%$0.00521203
-9.31%$1.16
0.00%$1.38
-4.08%$1.004
0.41%$14.80
0.55%$0.00002142
-1.72%$0.392708
-1.10%$0.02208926
-1.47%$5,064.55
0.24%$0.999982
0.01%$0.057318
-2.82%$0.04236235
-1.92%$0.087568
-6.27%$2.48
-1.21%$1.095
0.00%$10.78
0.00%$1.004
0.22%$5.06
-0.65%$0.00790664
-3.46%$0.282939
-4.07%$0.999801
0.00%$0.03685515
1.04%$0.156618
-2.63%$0.564709
-0.36%$118,079.00
1.09%$197.33
-0.83%$4,411.66
0.74%$22.95
0.58%$4.53
-3.93%$28.59
-4.09%$0.174819
0.59%$43.20
0.73%$0.138061
-3.68%$0.00362238
13.69%$136.84
-1.21%$23.48
-4.07%$0.785158
-2.47%$0.351083
-2.77%$4,722.61
0.40%$0.53384
-1.03%$116,702.00
-0.05%$1.27
-1.75%$0.242381
-3.04%$0.00006176
-2.15%$0.557375
-3.03%$117,988.00
1.09%$0.999554
-0.01%$0.03388013
0.66%$0.00484805
-0.76%$4,210.89
0.81%$0.00439638
1.52%$0.784174
-2.53%$0.32681
-3.03%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.
Coinbase will offer decentralized exchange trading for U.S. customers, the crypto exchange giant announced on Friday. The feature will mean that new tokens previously only available via decentralized platforms will be available via Coinbase's mobile app. The feature won't be available for New York State-based users. New digital coins and tokens are frequently minted—including via Coinbase's Base network—and the exchange said it wants to make them available more quickly on its app. The exchange...
CrediX’s team has grown increasingly quiet since hackers swiped $4.5 million worth of crypto from the decentralized finance protocol on Monday. On Friday, blockchain security firm CertiK said on X that CrediX team “has disappeared,” noting that the protocol’s X is now inactive, and its website has been offline for four straight days. An attacker bridged $4.5 million worth of crypto to Ethereum on Monday after the Sonic-based protocol was hacked, with the funds still spread across several wallets...
XRP Ledger’s Ethereum sidechain could lead to more experimentation within the network’s ecosystem, while potentially attracting fresh talent, according to Ripple CTO David Schwartz. A lot of Ethereum-based applications are “just garbage,” but developers’ overarching focus on experimentation “is good,” and could benefit XRP Ledger, he told Decrypt in a recent interview. “The XRP Ledger’s set of developers is not as big as I think it should be,” he said, attributing part of that to the fact that “...
