The recent crypto market crash has wreaked havoc on DeFi tokens, with with 95% of DeFi assets posting a seven-day loss
The decentralized finance (DeFi) bubble appears to have popped for the time being, with half a dozen top DeFi tokens shedding half of their fiat value over the past seven days.
According to crypto market data firm Messari’s list of DeFi assets, 32 of 34 markets are down over the past week — with only PowerPool (CVP) and SushiSwap (SUSHI) posting seven-day price gains.
The markets hardest hit include Curve — which is down 65% this week, followed by Meta with a 58% loss, Ren with 52%, AirSwap with 51%, and bZx Network and Wrapped Nexus Mutual with a 49% draw-down each.
Rough week in DeFi land with 6 assets dipping more than 50% + over the last 7 days Where are we going next? pic.twitter.com/3vJiqb4xhr— Messari (@MessariCrypto) September 8, 2020
The sell-off has erased the gains enjoyed by most DeFi markets during August’s month of record volatility, with more than 60% of the tokens featured in Messari’s DeFi list posting a 30-day loss as of this writing.