Monday, June 5, 2023
cryptonews100
No Result
View All Result
CryptoNews100
No Result
View All Result
Home Uncategorized

$124 Billion Wiped Out of Ethereum Market in 6 Weeks, Report Says By CoinQuora

cryptonews100_tggfrn by cryptonews100_tggfrn
June 21, 2022
in Uncategorized
0
Crypto Flipsider News – Coinbase, Binance + Animoca Brands Cut Off Russian Users; Terra Surpass ETH in Staking; Hackers Stole Nvidia’s Data; NFT Vending Machine in New York
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter
spot and derivatives trading, low fees! Use VPN to Spain if in US.


(*6*)
$124 Billion Wiped Out of Ethereum Market in 6 Weeks, Report Says$124 Billion Wiped Out of Ethereum Market in 6 Weeks, Report Says
  • The ETH DeFi market underwent a dramatic deleveraging, the place over $124 billion in capital disappeared in six weeks.
  • The mixed market cap of USDT, USDC, BUSD, and DIA, now exceeds the market capitalization by $3 billion.
  • ETH at present trades at $1,173, with a 5% improve in the final 24 hours.

In accordance with information from Glassnode, a blockchain metric tracker, the Ethereum (ETH) decentralized finance (DeFi) market underwent a dramatic deleveraging, the place over $124 billion in capital disappeared in six weeks. Glassnode made the assertion on June 17 in a analysis piece titled “The Nice DeFi Deleveraging.”

In accordance with them, early warning indicators of a decline in ETH utilization and community demand manifested after the November 2021 all-time excessive (ATH) of $4,808. They stated there was a decline in on-chain exercise and gasoline charges, which signaled a discount in DeFi-related transaction exercise.

The report said that the Complete Worth Locked (TVL) on ETH fell from $205 billion to $81 billion, presenting a 60% fall in six weeks. The rice collapse occurred through two important tranches by means of Could and June.

The primary was $94 billion throughout the implosion of Terraforms Lab’s tasks, the LUNA 1.0 and Terra USD (UST). The second was $30 billion as ETH traded beneath its 2018 ATH of $1,030 in June.

These occasions put the ETH investor base in traditionally important realized losses. The mixed market cap of the highest 4 stablecoins, USD (USDT), Circle USD (USDC), Binance USD (BUSD), and the ETH-based USD (DIA), now exceeds the Ethereum market capitalization by $3 billion. In the meantime, their mixed dimension by no means reached 50% of the ETH market cap all through 2021.

Glassnode later famous that although the present de-leveraging in the ETH DeFi ecosystem is a painful course of, it is going to enable the ecosystem to heal and rebuild on firmer foundations.

Over the weekend, ETH touched $880. It at present trades at $1,173, with a 5% improve in the final 24 hours.

Continue reading on CoinQuora



Source link

Related articles

News: blockchain MEP Eva Kaili corruption arrest, Nigerian CBDC … – David Gerard

February 28, 2023

War had no impact on Ukraine’s regulatory approach to crypto, Kyiv lawmaker says – Cointelegraph

February 28, 2023
Tags: billionCoinQuoraEthereummarketreportWeekswiped
Share76Tweet47
kucoin-exchange

Related Posts

News: blockchain MEP Eva Kaili corruption arrest, Nigerian CBDC … – David Gerard

by cryptonews100_tggfrn
February 28, 2023
0

News: blockchain MEP Eva Kaili corruption arrest, Nigerian CBDC ...  David Gerard Source link

War had no impact on Ukraine’s regulatory approach to crypto, Kyiv lawmaker says – Cointelegraph

by cryptonews100_tggfrn
February 28, 2023
0

War had no impact on Ukraine’s regulatory approach to crypto, Kyiv lawmaker says  Cointelegraph Source link

Binance Secretly Moved $1 Bln User Assets Just Like FTX: Forbes – CoinGape

by cryptonews100_tggfrn
February 28, 2023
0

Binance Secretly Moved $1 Bln User Assets Just Like FTX: Forbes  CoinGape Source link

Terra (LUNA) Price Prediction 2025-2030: LUNA can reach $2 if… – AMBCrypto News

by cryptonews100_tggfrn
February 27, 2023
0

Terra (LUNA) Price Prediction 2025-2030: LUNA can reach $2 if…  AMBCrypto News Source link

First Mover Asia: Solana in the Green After Weekend Deep Freeze – CoinDesk

by cryptonews100_tggfrn
February 27, 2023
0

First Mover Asia: Solana in the Green After Weekend Deep Freeze  CoinDesk Source link

Load More

Crypto Fear & Greed Index

Latest Crypto Fear & Greed Index

Recent News

US accuses world’s largest cryptocurrency exchange Binance of mishandling funds | US News

US accuses world’s largest cryptocurrency exchange Binance of mishandling funds | US News

June 5, 2023
GameStop NFT back in the spotlight after partnership with Illuvium

GameStop NFT back in the spotlight after partnership with Illuvium

June 5, 2023
Ethereum Top 10 Whales Now Hold 31.8M ETH, A New All-Time High

Ethereum Top 10 Whales Now Hold 31.8M ETH, A New All-Time High

June 5, 2023

Categories

  • Alt Coins
  • Bitcoin
  • Blockchain
  • Cardano
  • Chainlink
  • Cryptocurrency
  • Dogecoin
  • Elon Musk
  • Ethereum
  • Exchanges
  • ICO
  • Litecoin
  • Market & Analysis
  • Pokadot
  • Polygon
  • Shiba Inu
  • Solana
  • The FED
  • Uncategorized
  • VeChain
  • XRP

Download the official CryptoNews100 Android App! Click the button below:

Tags

ADA (35) Binance (64) Bitcoin (350) blockchain (61) BTC (74) Buy (41) Cardano (73) ChainLink (39) Classic (70) coin (52) Cointelegraph (45) crypto (449) Cryptocurrencies (39) Cryptocurrency (90) Cryptos (56) DOGE (38) Dogecoin (80) Elon (37) ETH (52) Ethereum (152) FTX (45) gains (40) Heres (41) Inu (72) investors (56) LUNA (241) LUNC (43) market (137) MATIC (37) million (37) Network (53) News (128) Polkadot (37) POLYGON (43) prediction (78) price (259) SHIB (42) Shiba (73) Solana (63) Terra (283) token (36) top (77) trading (35) VeChain (40) XRP (55)

© 2023 Crypto News100 All Rights Reserved.
By visiting this website, you understand that the content provided within is for educational and entertainment purposes only. Nothing on this site may be constituted as financial advice and this site is not directing you to make any investments in cryptocurrency or in anything else. Thank you for visiting and please proceed responsibly.
As an Amazon Associate I earn from qualifying purchases.

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Alt Coins
    • Cardano
    • Dogecoin
    • Litecoin
    • Pokadot
    • Polygon
    • Shiba Inu
    • Solana
    • XRP
    • VeChain
  • Market & Analysis
    • Blockchain
    • The FED
    • ICO
  • Profit with Crypto
    • Crypto Exchanges
    • Crypto Interest-Earning Accounts
    • Crypto Retirement Accounts

© 2023 Crypto News100 All Rights Reserved.
By visiting this website, you understand that the content provided within is for educational and entertainment purposes only. Nothing on this site may be constituted as financial advice and this site is not directing you to make any investments in cryptocurrency or in anything else. Thank you for visiting and please proceed responsibly.
As an Amazon Associate I earn from qualifying purchases.