According to the analytical company Sentiment, in just one day on October 7, the capitalization of the DeFi industry fell by 25% at once, and trading volumes fell by 30%.
Tokens of industry leaders —decentralized exchanges Sushi and Uniswap, as well as the Yearn Finance project-lost the most. During the week, the tokens of these projects lost 51%, 38% and 31%, respectively.
“The cryptocurrency market showed a decline this week. Including the largest DeFi projects recorded a double — digit drop over the past 7 days,” they write
analysts in the company’s blog.
Despite the fact that messages began to appear on Twitter that the “DeFi bubble is bursting”, researchers found signs of large players accumulating tokens for some projects. The SNX token of the Synthetix project was also included in this list. Sentiment analysts believe that now the tokens of large projects in the field of DeFi have been undervalued.
Recently, the management of
the cryptocurrency hedge Fund Pantera Capital announced its readiness to invest significant capital in tokens of DeFi projects.