DeFi is Showing Signs of Life Despite Drop in Funds Locked in Uniswap
Quick take: According to Coinmetrics, the combined market cap of popular DeFi tokens has increased with Bitcoin’s recent surge The total value locked in DeFi is still above $13 Billion The total value locked in UniSwap has exhibited a sharp decline since it ended its token rewards program The DeFi realm of the crypto-verse is once again showing signs of life. According to a report by the team at CoinMetrics, the combined market cap of popular DeFi tokens has seen a turn around following the recent market surge by Bitcoin and Ethereum.
Source: CoinmetricsUniswap Experiences a Drop in Total Value Locked To note is that the resurgence of DeFi tokens has occurred as the total value locked in UniSwap, experienced a significant drop since the protocol halted its token rewards program two days ago. At the time of writing, the total value locked on Uniswap has further dropped to $1.33 Billion partly due to both Bitcoin and Ethereum suffering significant losses after today’s massive crypto market correction.
