bitcoin
Bitcoin (BTC) $ 17,274.44
ethereum
Ethereum (ETH) $ 1,288.11
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 291.62
usd-coin
USD Coin (USDC) $ 1.00
binance-usd
Binance USD (BUSD) $ 1.00
xrp
XRP (XRP) $ 0.392413
dogecoin
Dogecoin (DOGE) $ 0.098450
cardano
Cardano (ADA) $ 0.315547
matic-network
Polygon (MATIC) $ 0.922855
polkadot
Polkadot (DOT) $ 5.41
staked-ether
Lido Staked Ether (STETH) $ 1,275.48
litecoin
Litecoin (LTC) $ 77.40
shiba-inu
Shiba Inu (SHIB) $ 0.000009
okb
OKB (OKB) $ 20.99
dai
Dai (DAI) $ 1.01
solana
Solana (SOL) $ 13.76
tron
TRON (TRX) $ 0.054055
uniswap
Uniswap (UNI) $ 6.21
avalanche-2
Avalanche (AVAX) $ 13.41
leo-token
LEO Token (LEO) $ 3.81
chainlink
Chainlink (LINK) $ 7.06
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 17,247.39
cosmos
Cosmos Hub (ATOM) $ 9.81
the-open-network
Toncoin (TON) $ 1.82
monero
Monero (XMR) $ 147.43
ethereum-classic
Ethereum Classic (ETC) $ 19.17
stellar
Stellar (XLM) $ 0.085684
bitcoin-cash
Bitcoin Cash (BCH) $ 112.01
quant-network
Quant (QNT) $ 123.85
crypto-com-chain
Cronos (CRO) $ 0.064941
algorand
Algorand (ALGO) $ 0.224705
filecoin
Filecoin (FIL) $ 4.43
apecoin
ApeCoin (APE) $ 3.94
near
NEAR Protocol (NEAR) $ 1.70
vechain
VeChain (VET) $ 0.019093
hedera-hashgraph
Hedera (HBAR) $ 0.048100
internet-computer
Internet Computer (ICP) $ 4.34
trust-wallet-token
Trust Wallet (TWT) $ 2.62
eos
EOS (EOS) $ 1.00
flow
Flow (FLOW) $ 1.04
elrond-erd-2
MultiversX (Elrond) (EGLD) $ 45.21
terra-luna
Terra Luna Classic (LUNC) $ 0.000174
frax
Frax (FRAX) $ 1.00
axie-infinity
Axie Infinity (AXS) $ 8.17
the-sandbox
The Sandbox (SAND) $ 0.592451
tezos
Tezos (XTZ) $ 1.00
aave
Aave (AAVE) $ 63.19
theta-token
Theta Network (THETA) $ 0.871963
huobi-token
Huobi (HT) $ 6.55

DeFi, NFT Remains Resilient Despite FTX Implosion: DappRadar

0

- Advertisement -



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.

BNB’s TVL also suffered a similar fate and was down 14%, reaching $7.3 billion, while that Tron’s TVL was down by over 25%, decreasing from $6.1 billion to $4.6 billion. Other networks, such as Avalanche, Polygon, and Arbitrum, also recorded a TVL decrease of 25.06%, 8.76%, and 10.26%, respectively.

The biggest loser, in terms of TVL in USD, is, however, the Solana blockchain slashing its TVL by nearly 65% from a whopping $1.65 billion to $585 million.

On the brighter side, the decentralized applications (DApp) sector keeps going strong despite the FTX scandal. The report revealed that unique active wallets (UAW) in the industry noted a decline of 11.67% and hit an average of 1.9 million dUAW in November. Contrastingly, the total number of transactions decreased by only 0.28%, reaching 26 million.

DeFi UAW, on the other hand, peaked on November 9 and 10, reaching nearly 500,000 UAW on both days. This coincided with the FTX unraveling. But data suggested that DeFi activity is now back to its levels from the previous month – 400K dUAW.

Dapp Radar noted that the subsequent meltdown from the now-bankrupt crypto exchange appears to have had little effect on gaming dapps, its UAW skyrocketing on November 10 all the way to 900,000.

Meanwhile, activity in gaming chains EOS, Hive, Wax, Ronin, and IMX remained mostly remained unfazed and did not face any significant fluctuations.

State of NFTs

Dapp Radar noted that the lackluster trading volume in the NFT market has socio-economic factors to blame rather than a slowdown in collector interest. In the first two weeks of November, the sales count took a hit by a little over 24%. Since the beginning of the month, NFT trading volume in most blockchains has slumped.

Ethereum’s daily NFT trading volume noted a decline of 73.75%, falling from $17 million to $4.4 million. Figures for Flow decreased by 67% during the same time frame. Polygon’s daily volume of NFT trading also began the month with a daily NFT trading volume of $307,830, and by November 13, it had decreased by 67% to $101,375. During the same time frame as Flow, the daily volume of NFT trading for Polygon also dropped from $235,794 to $114,465.

SPECIAL OFFER (Sponsored)
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.



Source link

- Advertisement -

Leave A Reply

Your email address will not be published.

Shares