The price of main DeFi tokens has plummeted in the last 24 hours as the broader crypto market continues to fall.
Over the last day, the decentralised finance (DeFi) sector has taken a following beating, with numerous blue-chip tokens losing considerable value:
- UNI, the governance token of decentralised exchange (DEX) Uniswap, is down 11.8 percent, dropping to an intraday low of USD 15.29.
- LINK, the native token of DeFi’s flagship oracle project Chainlink, has fallen to a two-week low, dropping 7.1 percent in a single day and about 20% in the last week.
- Curve Finance’s CRV token, which powers a decentralised trading platform focused on stablecoins and like-valued assets, is down 7% since Tuesday, trading at $4.32 at press time.
LRC, the native currency of Loopring, a Layer 2-based crypto exchange, appears to be bucking the slump, rising 3.7 percent to a daily high of $1.19.
Looking at the big picture, according to DefiLlama, the total value locked (TVL) in DeFi protocols has dropped by almost $25 billion since the beginning of the year, to USD 226.92 billion.
It’s a wrap for this story.
