Top DeFi Tokens in Uniswap, Chainlink, Curve All Dip as Crypto Markets Cool

Top DeFi Tokens in Uniswap, Chainlink, Curve All Dip as Crypto Markets Cool


The decentralized finance (DeFi) sector has taken a beating over the past day, with several blue-chip tokens suffering significant losses.

UNI, the governance token of decentralized exchange (DEX) Uniswap is down 11.8%, slipping to an intraday low of $15.29, according to CoinGecko.

The token lost 16% of its value in the past two weeks and is currently 65.9% off its all-time high of $44.9 seen in May last year.

LINK, the native token of DeFi’s leading oracle project Chainlink, has meanwhile slipped to a two-week low, losing 7.1% over the day and almost 20% in the past week.

Speaking to Decrypt earlier this month, Chainlink co-founder Sergey Nazarov revealed that the project is planning to add a staking option for LINK holders later this year.

However, the initial enthusiasm, which took LINK above $28 last week, is seemingly cooling off, with the token trading at $21.56 by press time.

CRV, the token powering Curve Finance, a decentralized trading platform focused on stablecoins and like-valued assets, is similarly down 7% since Tuesday, changing hands at $4.32 at press time.

CRV surged above $6.50 at the start of the year; however, the token’s price retraced since then significantly, losing almost 30% in the past two weeks, as data from CoinGecko shows.

Loopring bucks DeFi downtrend

Elsewhere, LRC, the native token of the Layer 2-based crypto exchange Loopring, seems to be defying the downtrend, going up 3.7% over the day to a daily high of $1.19.

However, this will come as little consolation to longer-term LRC holders as the token is down 20.2% over the last seven days and as much as 42.5% down in the past two weeks.

Looking at the bigger picture, data from DefiLlama shows that the total value locked (TVL) in DeFi protocols has sunk by roughly $25 billion since the start of the year, currently standing at $226.92 billion.


Source link

Latest Crypto News

Popular Links

Notify of
Inline Feedbacks
View all comments