Bear market dip signal? DeFi lock-up volume has bottomed out by 9%; Alameda transferred 30.68 million USDC to FTX

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Bear market dip signal?  DeFi lock-up volume has bottomed out by 9%; Alameda transferred 30.68 million USDC to FTX
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With the recovery of the cryptocurrency market in the past week, the total lock-up value (TVL) on various mainstream public chains has also recovered recently. The TVL of the entire network of DeFi protocols is currently US$76.63 billion, an increase of more than 9% from the previous week. However, at the same time, the wallet address of Alameda Research transferred about 30.68 million USDC to FTX yesterday, and the market may experience further volatility. (Recap:‘Bitcoin is dead’ searches hit a 4-year high!17 obituaries this year; gold bulls: no signs of bear market bottoming)

according to According to DefiLlama data, the total lock-up value (TVL) on various mainstream public chains has recently recovered. Ethereum TVL has risen by 6.24% to US$53.25 billion in the past 7 days, and BSC TVL has risen by 2.79% in the past 7 days to US$6.44 billion. Avalanche TVL rose 3.88% to US$4.89 billion in the past 7 days.

TRON TVL has risen 4.64% to US$4.17 billion in the past 7 days, Solana TVL has risen 5.74% to US$2.86 billion in the past 7 days, Polygon TVL has risen 4.46% to US$1.84 billion in the past 7 days, and Waves TVL has risen 3.66% to US$1.48 billion in the past 7 days Cronos TVL rose 12.38% to $1.37 billion in the past 7 days.

Public chain TVL ranking. Source: DefiLlama

Coinmarketcap data shows that after the sharp decline in the previous weeks, the cryptocurrency market has rebounded in the past 7 days. Bitcoin rose 6.5%, Ethereum rose 13.5%, BNB rose 15.43%, Solana rose 24.62%, TRON rose 13.73% , AVAX rose 30.92%, and MATIC rose 54.58%.

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Network-wide DeFi protocol TVL rebounded by 6%

In addition, DefiLlama data shows that the network-wide DeFi protocol TVL is currently US$76.6 billion, up 9% from US$70.25 billion on the 19th, but it is still down 69.66% from the historical peak of US$254.14 billion in December last year.

In detail, AAVE has risen 11.70% to US$10.28 billion in the past 7 days, MakerDAO has risen 3.34% to US$7.93 billion in the past 7 days, Lido has risen 13.71% to US$5.26 billion in the past 7 days, and Uniswap has risen 11.87% to US$5.21 billion in the past 7 days In the past seven days, Curve rose 2.28% to $5.15 billion.

DeFi protocol TVL ranking. Source: DefiLlama

Glassnode, an on-chain data analysis agency, has previously issued a weekly report that the Ethereum DeFi market is experiencing a sharp deleveraging. In the previous 6 weeks, more than $124 billion of funds evaporated, and investors suffered serious losses in spot positions. , and potentially record huge realized losses at historical levels.

Ethereum DeFi TVL previously lost $124 billion in just six weeks. Source: Glassnode

Glassnode mentioned that the previous collapse of DeFi protocol TVL was mainly caused by two reasons, including the liquidation of leveraged and revolving lending positions accumulated in the market during the bull market, and the drop in the price of tokens locked in DeFi protocols, resulting in cryptocurrency collateral. value dropped.

Glassnode pointed out in its conclusion at the time that the ongoing DeFi market deleveraging event is very painful, similar to a mini-financial crisis, but as this pain eliminates excessive leverage, the market is expected to rebuild healthier in the future.

Alameda transferred about 30.68 million USDC to FTX

However, it is worth noting that, according to Etherscan data, the FTX Deposit wallet address (0x83a127952d266A6eA306c40Ac62A4a70668FE3BD) of the world’s top cryptocurrency market maker Alameda Research transferred about 30.68 million USDC to FTX at 10:07 on June 27, Taiwan time. However, it is also reported today that Hodlnau has missed huge losses due to Terra’s huge losses, or that the market may experience major fluctuations in the near future. The dynamic area reminds readers to be cautious before investing. The information in this article does not represent any investment advice.

Alameda transferred about 30.68 million USDC to FTX. Source: Etherscan

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