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At the end of May, bitcoin and Ethereum fell by 15.6% and 28.8%, respectively, and the total value of assets in the DeFi segment fell by 43%. This is stated in the ForkLog report.
The collapse of the Terra ecosystem provoked a protracted market correction. On May 12, the first cryptocurrency reached $26,700 , the lowest since December 2020.
The price of Ethereum tested the level of $ 3000, but could not gain a foothold above it. On May 27, the cryptocurrency reached a local low near $ 1700. The last time the asset was at this level was in July 2021.
Daily chart of BTC/USDT exchange Binance. Data: TradingView.
The daily chart of ETH/USDT of the Binance exchange. Data: TradingView.
The volume of blocked funds (TVL) in smart contracts of decentralized applications decreased by 43%, to $ 117.48 billion.
Dynamics of the cost of funds involved in the DeFi sector. Data: DeFi Llama.
The second-ranked TVL ecosystem Terra lost to BNB Chain ($ 9.13 billion as of June 1) – its own figure fell from $ 23.62 billion to $ 0.05 billion.
The volume of blocked funds in smart contracts of the permanent leader – Ethereum – decreased from April $ 108.83 to $ 71.98 billion In third place in the rating came the ecosystem of applications based on Tron, whose TVL over the past month grew by 48% ($ 6.34 billion).
Top ecosystems by the cost of blocked funds, billion $. Data: DeFi Llama.
Against the background of the market correction and the collapse of Terra, all the tokens of the DeFi segment from the top 20 by capitalization were in the red zone.
The worst dynamics was shown by the token of the project yEarn Finance (YFI), which lost more than 53%. In second place is the native token of the thorChain cross-chain protocol (RUNE). Its quotes fell by 52%.
Top 20 coins of DeFi-projects by market capitalization. Data: Messari (as of 01.06.2022).
Among the projects on Ethereum, leadership in TVL passed to the landing platform Aave ($ 11.61 billion). In second place is MakerDAO ($ 9.89 billion).
Top 5 DeFi-based projects based on Ethereum by the cost of blocked funds, billion $. Data: DeFi Llama (as of 01.06.2022).
Shares of public companies associated with cryptocurrencies reacted to the negative background in the same way – with a fall. At the end of May, the securities of Galaxy Digital and Coinbase lost 42.38% and 30.93%, respectively.
Quotes of Riot Blockchain, Hut 8 and Marathon Digital decreased by 28.74%, 28.37% and 34.25%.
Data: ForkLog.
Interest in non-fungible tokens declined again in May. The dynamics in the segment was reflected by the flagship marketplace OpenSea – the trading volume on it reached $ 2.48 billion, which was the minimum since November 2021. The drop was also demonstrated by the number of search queries “nft” in Google.
Sponsor of the rubric “Bitcoin Industry in Numbers” – global blockchain ecosystem Binance.
Recall, JPMorgan analysts admitted that the crypto winter will be short-lived due to the influx of venture capital into the industry.
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