The fallout from FTX’s collapse has been devastating, and the market is poised for more losses. But according to a recent report by DappRadar, Web3 remains resilient.
Centralized services are on the losing side. With the contagion unfolding, the decentralized finance (DeFi) sector, too, has been impacted. But the user activity in the sector appears to be returning to levels from the previous month.
State of DeFi
According to a recent Dapp Radar report shared with CryptoPotato, the total value locked (TVL) across DeFi platforms has plunged over 20%, from $83 billion to $65 billion, since the beginning of the month. The TVL of the market leader – Ethereum – fell from $51 billion on November 1 to $41 billion on November 13, noting a 14% decrease.
The ETH staking yields have increased by over 10.6% in the network’s largest liquid staking service provider – Lido – translating to its highest ever recorded. However, stETH lost its peg to ETH and is currently trading at 0.9883.
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We współpracy z: https://cryptopotato.com/defi-nft-remains-resilient-despite-ftx-implosion-dappradar/