{"id":29060,"date":"2020-09-23T11:34:12","date_gmt":"2020-09-23T08:34:12","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=29060"},"modified":"2025-08-27T14:54:11","modified_gmt":"2025-08-27T11:54:11","slug":"report-defi-tokens-fall-on-average-by-more-than-40-in-the-last-30-days","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/report-defi-tokens-fall-on-average-by-more-than-40-in-the-last-30-days\/","title":{"rendered":"Report: DeFi tokens fall on average by more than 40% in the last 30 days"},"content":{"rendered":"<p>Over the past month, the median price of DeFi protocol tokens fell by 41.5%, four times the rate of Bitcoin&#8217;s decline. Over the last 90 days, the lead was also with the first cryptocurrency \u2014 up 8.8% versus 1.0%. Messari analyst Ryan Watkins, citing these calculations, noted the end of the &#8216;casino&#8217;.<br \/>\n<!--more--><\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">What\u2019s clear right now is that there are more sellers than buyers and DeFi\u2019s summer casino could be coming to an end (it\u2019s the start of Fall anyways?).<\/p>\n<p>But let\u2019s zoom out and look at DeFi\u2019s summer in numbers.<a href=\\\"https:\/\/t.co\/WhCwaD2hSC\\\">https:\/\/t.co\/WhCwaD2hSC<\/a><\/p>\n<p>\u2014 Ryan Watkins (@RyanWatkins_) <a href=\\\"https:\/\/twitter.com\/RyanWatkins_\/status\/1308421302038999049?ref_src=twsrc%5Etfw\\\">September 22, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<div id=\\\"attachment_110978\\\" style=\\\"width: 634px\\\" class=\\\"wp-caption aligncenter\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" aria-describedby=\\\"caption-attachment-110978\\\" class=\\\"wp-image-110978 size-full\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/image2-191.png\\\" alt=\\\"DeFi token dynamics across different time horizons. Data: Messari\\\" width=\\\"624\\\" height=\\\"637\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/image2-191.png 624w, https:\/\/u1f987.com\/wp-content\/uploads\/image2-191-294x300.png 294w\\\" sizes=\\\"auto, (max-width: 624px) 100vw, 624px\\\" \/><\/p>\n<p id=\\\"caption-attachment-110978\\\" class=\\\"wp-caption-text\\\">DeFi token dynamics across different time horizons. Data: <a href=\\\"https:\/\/messari.io\/article\/a-data-driven-look-at-the-end-of-defi-s-summer\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">Messari<\/a>.<\/p>\n<\/div>\n<p>Watkins noted that over the 90-day horizon, there was a significant advantage in profitability for the blue chips of the DeFi sector such as YFI, LEND, SNX and NXM, over Bitcoin and Ethereum. The laggards in this period were the first-generation DeFi tokens \u2014 MKR, REP, and the newly released SWRV, CRV and SUSHI.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">The last couple weeks in DeFi have been an absolute bloodbath.<\/p>\n<p>But keep in mind bull markets never go up in a straight line.<\/p>\n<p>In the 2017 ICO boom ETH pulled back 20%+ seven times before it peaked in January 2018.<\/p>\n<p>So far in this bull market we\u2019ve only experienced one.<\/p>\n<p>1\/ <a href=\\\"https:\/\/t.co\/EXqhmm2MkM\\\">pic.twitter.com\/EXqhmm2MkM<\/a><\/p>\n<p>\u2014 Ryan Watkins (@RyanWatkins_) <a href=\\\"https:\/\/twitter.com\/RyanWatkins_\/status\/1308421300088696832?ref_src=twsrc%5Etfw\\\">September 22, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The day before, Matt Luongo, founder of Thesis and head of Keep Network, <a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-backed-tbtc-token-to-be-launched-for-the-second-time\">announced<\/a> the relaunch of the Bitcoin-backed tBTC.<\/p>\n<p>According to the BTC on Ethereum service, the total market value of Ethereum tokens pegged to Bitcoin surpassed $1.1 billion. Over the last week, a record 21,000 Bitcoins were wrapped, according to <a href=\\\"https:\/\/explore.duneanalytics.com\/dashboard\/btc-on-ethereum_1\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">Dune Analytics<\/a>. The leading market cap WBTC reached $815.6 million.<\/p>\n<div id=\\\"attachment_110979\\\" style=\\\"width: 634px\\\" class=\\\"wp-caption aligncenter\\\"><img loading=\\\"lazy\\\" decoding=\\\"async\\\" aria-describedby=\\\"caption-attachment-110979\\\" class=\\\"wp-image-110979 size-full\\\" src=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/image1-302.png\\\" alt=\\\"Structure of the Bitcoin-on-Ethereum segment. Data: Dune Analytics\\\" width=\\\"624\\\" height=\\\"228\\\" srcset=\\\"https:\/\/u1f987.com\/wp-content\/uploads\/image1-302.png 624w, https:\/\/u1f987.com\/wp-content\/uploads\/image1-302-300x110.png 300w\\\" sizes=\\\"auto, (max-width: 624px) 100vw, 624px\\\" \/><\/p>\n<p id=\\\"caption-attachment-110979\\\" class=\\\"wp-caption-text\\\">Structure of the Bitcoin-on-Ethereum segment. Data: <a href=\\\"https:\/\/explore.duneanalytics.com\/dashboard\/btc-on-ethereum_1\\\" target=\\\"_blank\\\" rel=\\\"noopener noreferrer\\\">Dune Analytics<\/a>.<\/p>\n<\/div>\n<p>The growth in market capitalization of Bitcoin-backed Ethereum tokens is driven by the drive to provide liquidity for non-custodial exchanges, such as Uniswap.<\/p>\n<p>Earlier in September, Uniswap <a href=\"https:\/\/u1f987.com\/en\/news\/uniswap-launches-uni-governance-token\">launched<\/a> the UNI governance token, which was almost immediately listed on leading centralized exchanges. The hype around UNI <a href=\"https:\/\/u1f987.com\/en\/news\/uniswap-distributed-113-17-million-uni-tokens-among-users\">became<\/a> a catalyst for liquidity migration to Uniswap, which returned to first place in DeFi Pulse&#8217;s ranking by the volume of locked assets. There is ongoing discussion in the network about developing the third version of Uniswap.<\/p>\n<p>Subscribe to ForkLog news on <a href=\\\"https:\/\/www.facebook.com\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener noreferrer\\\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the last month, the median price of DeFi protocol tokens fell by 41.5%, four times the pace of Bitcoin&#8217;s price decline. Over the last 90 days, the lead was also with the leading cryptocurrency\u2014up 8.8% versus 1.0%. Messari analyst Ryan Watkins, citing these calculations, noted the end of the &#8216;casino&#8217;.<\/p>\n","protected":false},"author":1,"featured_media":29061,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1093,1145],"class_list":["post-29060","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-defi","tag-market-analysis"],"aioseo_notices":[],"amp_enabled":true,"views":"11","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29060","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=29060"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29060\/revisions"}],"predecessor-version":[{"id":29062,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/29060\/revisions\/29062"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/29061"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=29060"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=29060"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=29060"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}