Scouring for bottom markers in today's DeFi carnage
It's the slaughtering of the sacred DeFi cows.
The crypto market has been engulfed in a sea of red this week, with most DeFi blue chips recording double digit losses over the past 7 days:
According to our DeFi watchlist, the collective market cap of all DeFi-related assets has shrunk by 25.1% in the last 24 hours alone, with their daily trading volumes down by a combined 30.2%.
As expected, many of the crowd’s favorites are among those hit the hardest, with SUSHI down by 50.9% for the week, Uniswap’s new token (UNI) losing 38.2% and Andre Cronje’s YFI down 31.3%.
With so many DeFi tokens erasing a bulk of their summer gains, it didn’t take long for crypto Twitter to emphatically declare death of the entire DeFi experiment:
And while most
There’s more of this Insight
Choose your subscription plan
Years of market experience, compressed in each report
Since 2017, Santiment has been an industry leader in on-chain data, social intelligence and behavior-based analysis of the crypto market.
Our tools have a proven track record of timing price tops for cryptocurrencies, helping traders find profitable exit points and mitigate HODLing risk.
Our previous TOP calls:WAVES crowd sentiment patternMATIC charts a new ATH: is the top in?ICX insanity. How far could it go?
What you get with Sanbase Pro:
- Members-only daily market insights and analysis
- 30+ on-chain, social & project indicators for 900 cryptocurrencies
- Custom alerts for the coins' price, on-chain & social trends
- Santiment Spreadsheet plugin with 10+ pre-made market templates
- Personalized asset watchlists and weekly performance reports
Gain unfair advantage with Sanbase Pro
Subscribe to Sanbase Pro for access to exclusive insights, market-beating metrics, strategies and templates!