The TOP50 losers are mainly ETH tokens, some of them have lost almost 70% in 7 days

The TOP50 losers are mainly ETH tokens, some of them have lost almost 70% in 7 days

The ETH and DeFi token market appears to be undergoing a strong correction, with most of them losing value.


8 Oct 2020 , 11:48 @ Thomas Alford

The TOP50 losers are mainly ETH tokens, some of them have lost almost 70% in 7 days

The ETH and DeFi token market appears to be undergoing a strong correction, with most of them losing value.

The market rules are always the same and even the ETH / DeFi market cannot grow indefinitely. Just last week we informed you that the total value locked in DeFi exceeds $ 11B and today is already facing a bloody dump.

The correction was reflected on almost all ETH tokens and they dominated the TOP50 Losers table:

You can see in the table that in the last seven days, some of the tokens there have lost almost 70% of the value, e.g. ZEON 69.33%.

As you know, out of 215 DeFi projects, up to 204 is built on ethereum, and these tokens have also been affected by a strong correction.

Let’s look at only the most famous TOP10 tokens and their losses in the last seven days. Such Chainlink lost 15.49%, Aave 23.32%, Maker 14.77%, yearn.finance with 46.72% suffered the most serious losses.

However, we must add that only the tokens on the ethereum network were not affected and most cryptocurrencies are currently experiencing increased sales activity. Most analysts attribute this mainly to the ambiguous update of the Trump stimulus package but also to the so-called DeFi bubble, which was very inflated this year.

Read also: ETH 2.0 Testnet reaches up to 76GB of data per node

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    Thomas Alford

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