The recent market turmoil has sent ripples through the crypto landscape, leading to a staggering $455 million in liquidations. Even giants like Bitcoin and Ethereum weren't spared, but the DeFi market faced an even harsher impact. Total Value Locked (TVL) in DeFi plummeted nearly $5 billion in a day, with Avalanche taking a severe 5.60% hit. Most alarming, Thorchain's TVL nosedived over 29% in just 24 hours, raising questions about the stability of the DeFi sector. What drove this dramatic decline and what it means for...
Altcoin selloff wipes out $4.9 billion in DeFi TVL
06/19/2024 08:30
The DeFi market experienced a sharp $4.9 billion decline in total value locked (TVL) amid a broader crypto selloff.
Altcoin selloff wipes out $4.9 billion in DeFi TVL 19 seconds ago · 2 min read
Smaller chains see substantial TVL reductions, exacerbated by short-term sell pressure from airdrop activities.
2 min read
Updated: Jun. 19, 2024 at 2:07 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.