Over the past 24 hours, the capital of decentralized services that are based on the Solana blockchain has fallen by 30%.
The DeFiLlama service presented data that shows that in November last year, the price of tokens that were locked in DeFi smart contracts on SOL reached a value of 10.17 billion US dollars. After that, these data began to decline and on 11/10/2022 reached a minimum value of $437 million. This is 23 times less than last year.
Decentralized service providers on Solana have lost a lot due to this downward trend in the cryptocurrency market. For example, Solend's capital decreased by 57%, Lido's by 38% and Raydium's by 23%.
DeFi capital on the Ethereum network decreased by 9%, on the BNB Chain network by 15%, on the Polygon blockchain by 8%.
In parallel with this situation, decentralized exchanges have had good profits over the past 24 hours. Across all platforms, total trading volume increased by 202% to $8.8 billion. PancakeSwap sold 950% more tokens than before. And the turnover of assets on Uniswap increased by 220%.
