CryptoMediaClub
Thursday, June 26, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Analysis

DeFi exchange volume down 15% on a monthly basis amid UNI, CRV price crash – VanEck

17.09.2023
A A
0
129
VIEWS
ShareShare

The decentralized finance (DeFi) landscape faced a challenging month in August as exchange volume dipped 15.5% to settle at $52.8 billion — led primarily by a decline in some of the most dominant DeFi tokens, according to data from investment manager VanEck.

VanEck’s report also touched on global interest rates, especially in the U.S., and their pressure on stablecoins. August saw a 2% decline in the total market capitalization of stablecoins, which stood at $119.5 billion at the end of the month.

The firm associates this drop with rising interest rates in conventional finance, prompting investors to transition from stablecoins to money market funds, enticed by an approximate 5% risk-free yield.

DeFi dip

The figures in the report were taken from VanEck’s MarketVector Decentralized Finance Leaders Index (MVDFLE), an index that monitors the performance of the most prominent and liquid tokens in the DeFi ecosystem.

Some major tokens, including Uniswap’s UNI, Lido DAO’s LDO, Maker’s MKR, Aave’s AAVE, THORChain’s RUNE, and Curve DAO’s CRV experienced significant decreases, affecting the overall health of the market.

The DeFi index lagged behind digital currency giants, Bitcoin and Ether, in August, dropping by a notable 21%. This decline was further intensified by the Uniswap token, which plummeted by 33.5%, as many investors opted to offload their tokens, seeking to realize gains made the previous month.

On a broader scale, the DeFi sector’s total value locked (TVL) saw an 8% reduction, falling from $40.8 billion to $37.5 billion — narrowly outpacing Ethereum’s 10% downturn during the same period.

In contrast, several optimistic indicators emerged in August, including the successful dismissal of a class-action lawsuit against Uniswap Labs and the noticeable growth of stablecoins, especially with Maker and Curve.

Curve Finance

Curve Finance, which had been grappling with the aftermath of a severe exploit in July, witnessed its stablecoin crvUSD attain a record high with $114 million borrowed in August. Despite its promising rise, Curve Finance’s governance token CRV failed to show a significant recovery post-exploit, losing 24% of its value in August to close at $0.45 at the end of the month.

A notable mention in the VanEck report centered on the performance of the CRV token. The document highlighted concerns surrounding the declining value of the CRV token, with potential relief only in sight if the growth of crvUSD compensates for the dip in DeFi volume.

Adding to the market concerns was Curve Finance founder Michael Egorov’s significant debt, backed primarily by the CRV token. After a near 30% drop in the CRV token value following the hack, worries over a potential liquidation of Egorov’s collateralized loan triggered fears of a ripple effect in the DeFi sector.

In an attempt to reduce this debt, Egorov offloaded 39.25 million CRV tokens to a group of prominent DeFi investors.

The post DeFi exchange volume down 15% on a monthly basis amid UNI, CRV price crash – VanEck appeared first on CryptoSlate.

Share10Tweet6ShareSharePin2

Related Posts

Binance Bitcoin inflows plunge to 5,700 BTC, less than 50% of the monthly average since 2020
Analysis

Binance Bitcoin inflows plunge to 5,700 BTC, less than 50% of the monthly average since 2020

26.06.2025
0

Binance’s monthly Bitcoin (BTC) inflows have fallen to 5,700 BTC, less than half the 12,000 BTC average recorded since 2020...

Read moreDetails
Number of XRP holders almost doubled within six months, overtaking Solana

Number of XRP holders almost doubled within six months, overtaking Solana

24.06.2025
XRP leads crypto market rally as Iran-Israel’s tentative ceasefire lifts sentiment

XRP leads crypto market rally as Iran-Israel’s tentative ceasefire lifts sentiment

24.06.2025
Bitcoin whipsaws back to $104k after losing six-figures as Iran’s failed attack signals end of tensions

Bitcoin whipsaws back to $104k after losing six-figures as Iran’s failed attack signals end of tensions

24.06.2025
Texas to buy Bitcoin for state reserves long before Trump’s Bitcoin reserve delivers

Texas to buy Bitcoin for state reserves long before Trump’s Bitcoin reserve delivers

23.06.2025
Load More
Next Post
Goldman Sachs Predicts Possible Interest Rate Delay by U.S Fed

Goldman Sachs Predicts Possible Interest Rate Delay by U.S Fed

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

Coinbase and Gemini Join Bid Race for Celsius Network’s Assets: Report

2 years ago
Dogecoin Price Prediction as DOGE Sees $5 Billion Flood In – $10 DOGE Possible in 2024?

Dogecoin Price Prediction as DOGE Sees $5 Billion Flood In – $10 DOGE Possible in 2024?

1 year ago
Bloomberg analysts’ rankings present Litecoin main altcoin ETF approval race, whereas XRP trails

Bloomberg analysts’ rankings present Litecoin main altcoin ETF approval race, whereas XRP trails

4 months ago
Japan’s Largest Bank MUFG Facilitates Domestic Banks to Issue Stablecoins

Japan’s Largest Bank MUFG Facilitates Domestic Banks to Issue Stablecoins

2 years ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

Solana Price Prediction: Institutional Demand Hits New High – $1,000 SOL Incoming

Bitcoin’s Astonishing Surge: Eyes $160K as Investor Confidence Returns

Web3 Security: GoPlus Unveils Crucial Clarification on Venus Protocol $2M Theft

Animoca Brand’s Moca Network Unveils Identity-Focused Moca Chain

BIS Frames Tokenization as Foundation of Next-Generation Financial System

Why Is Crypto Down Today? – June 25, 2025

Trending

China’s DeepSeek AI Predicts the Price of XRP, Pepe and Cardano by the End of 2025
All news

China’s DeepSeek AI Predicts the Price of XRP, Pepe and Cardano by the End of 2025

26.06.2025
0

China’s state-of-the-art AI platform, DeepSeek, predicts an optimistic outlook for the cryptocurrency sector as the year 2025...

Pi Breaks 45-Day Slump with 15% Pop on Chainlink Integration — $1 Target Now in Play

Pi Breaks 45-Day Slump with 15% Pop on Chainlink Integration — $1 Target Now in Play

25.06.2025
[LIVE] XRP Price Prediction: John Deaton Says $100B Ripple Valuation Is Possible – Here’s What That Means for XRP

[LIVE] XRP Price Prediction: John Deaton Says $100B Ripple Valuation Is Possible – Here’s What That Means for XRP

25.06.2025
Solana Price Prediction: Institutional Demand Hits New High – $1,000 SOL Incoming

Solana Price Prediction: Institutional Demand Hits New High – $1,000 SOL Incoming

25.06.2025
Bitcoin’s Astonishing Surge: Eyes $160K as Investor Confidence Returns

Bitcoin’s Astonishing Surge: Eyes $160K as Investor Confidence Returns

25.06.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz