DeFi TVL hits new highs while Metaverse tokens show signs of exhaustion
Metaverse tokens are starting to cool off while DeFi platforms register steady inflows that pushed the sector’s TVL to a new all-time high. Sentiment in the cryptocurrency market is back on the rise on Nov. 29 as the recent dip down into the “extreme fear” zone on the Crypto Fear and Greed Index improved slightly after Bitcoin (BTC) recovered above the $57,000 support, lifting the index higher into the “fear" zone.Fear & Greed Index. Source: Alternative.meDespite the overall “fear” and “extreme fear” sentiments that have been dominating the market since the index began to decrease on Nov.....
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Bitcoin’s price has been fairly stagnant throughout the past few days, with its recent rejection at highs of $28,500 kicking off a short-term consolidation phase Where the crypto trends in the mid-term may depend largely on whether or not bulls can invalidate these highs as a potential “blow-off top” There has been speculation that the swiftness of the rally and rejection confirmed the bear-favoring pattern, but BTC’s resilience in the time since is a promising […]
Interoperability-focused projects that offer cross-chain bridges and lucrative liquidity mining pools are seeing an influx of funds right as DeFi’s TVL hit a new all-time high. Altcoins and DeFi tokens have been on a tear for the last two weeks and as the end of August approaches many projects are seeing their tokens reach for new all-time highs.Data shows that a majority of the top-10 DeFi tokens gained more than 20% in the past 30-days, with projects like Bancor (BNT) and THORChain (RUNE) seeing gains in excess of 115%. Top-10 DeFi assets by price. Source: MessariHere’s a look at some....
The DeFi tokens market has been taking larger hits compared to Bitcoin since the crash began. This has obviously continued on to the point where most altcoins are down up to 90% from their all-time highs. Some have however been more unlucky than others in this regard. While the larger altcoin market continues to suffer, […]
While digital currencies like bitcoin and ethereum lost roughly 10% in value during the last seven days, the decentralized finance (defi) economy has weathered the storm better than the top two leading crypto assets. A slew of blockchain games coins, defi tokens, and metaverse assets like gala, crypto.com coin, wax, kadena, wonderland, and avalanche have seen double-digit gains during the last 24 hours.
TVL in Defi Weathers the Crypto Economy Storm
While bitcoin (BTC) has hovered just above the $60K zone in consolidation, the defi economy and a number of other crypto assets....
Blockchain games and NFT-related Metaverse projects “managed to sidestep the ensuing bear market” by posting transaction count increases of 9.5% and 27% respectively in Q2. Blockchain gaming and the Metaverse have managed to “sidestep” the “Lehman brothers-like” collapse of Terra in May — though decentralized finance (DeFi) and nonfungible tokens (NFTs) haven’t been so lucky, a report says. In a July 29 report from decentralized application data aggregator DappRadar, the collapse of Terra in May was similar in scale to the 2008 subprime mortgage crisis — causing decentralized finance....