It was learned from the Defilama platform that the DeFi TVL (total value locked) in the crypto market has fallen to US$44 billion, which is the same as the data in February 2021.
This figure has fallen by 80% compared to the high of US$200 billion at the end of 2021.
Defi is no longer attractive. Users are becoming less and less confident in the market, and liquidity continues to shrink. They either lose everything or dare not invest anymore.
As the market progresses, BTC has fallen below $26,000, the community is not active, liquidity has decreased, and discussions are not lively anymore.
The number of views of Chuxiaolian’s articles is getting lower and lower, and more and more people are leaving the market.
Judging from the data of various Defi platforms, Lido's total staking volume is relatively large. Its current TVL is US$14 billion, which is 51% higher than the second-ranked AAVE's US$6.8 billion.
Lido is one of the important platforms in the LSD (liquidity staking derivatives) track, allowing stakers to increase potential returns by releasing the liquidity of their staked cryptocurrencies (such as ETH).
By staking ETH on Lido, you can earn 4% APR and get an equal proportion of stETH. stETH can replace ETH to interact on the chain, solving the problem of losing other profit opportunities due to staking.
However, as the crypto market is sluggish, the price of ETH continues to fall and is currently at $1,655, and the APR income cannot keep up with the decline.
Not only are the DeFi data poor, but the decline in NFT is also very obvious.
Blue chip NFTs are all falling, and NFT liquidity is even worse. Currently, the floor price of Boring Ape is 24ETH, Azuki is 4ETH, and Moonbirds is 1.39ETH, Doodles is 1.35ETH, all of which are falling, and the trading volume is getting lower and lower.
Some niche NFTs have already gone to zero, just like all kinds of altcoins have gone to zero, quietly. The entire crypto market is in a bear market, and there is no room for NFT speculation. With the decline of ETH, NFT is under double pressure.
Those who use NFT as an entry ticket and rely on project development have stabilized the decline and prevented it from returning to zero all at once.
For example, the web3 social project DeBox, and its series of NFTs, Penguin, Eagle, etc., although they have also experienced a slight decline, but as a threshold for creating a group and staking to obtain vDBX points, the decline is smaller than that of other NFT projects.
Interacting on debox, understanding the market, occasionally drawing points red envelopes, and lying down waiting for the next cycle are also ways for some web3 players to keep each other warm.
Only by working hard in a bear market can you reap the rewards in a bull market.
Some people continue to interact so as not to miss the recent ultra-low gas fees, but the road to interaction is long, and they may reap a great harvest in the bull market, or they may gain nothing.
Or you can read various web3 information on ReadON, earn points, redeem points for NFT fragments, and synthesize NFT Catto through fragments.
The current floor price of NFT is 0.27ETH. Although there is not much trading volume, the floor price has been stabilized.
As one of the web3 information traffic portals, ReadON is also one of the ways for ordinary players to survive the bear market. Don’t make trouble, don’t chase the rise, don’t be FOMO, pay attention to market conditions in a timely manner, and wait for recovery.
Whether it is the BTC price, the DeFi market, the NFT or the web3 track, the mode of survival first has been started, without any recklessness or tossing; and as a web3 player, the key is how to stay in the market and not be reduced to zero.
In the past two days, it was revealed that the founding team of PEPE sold coins and withdrew. It was a soft RUG. The price of PEPE plummeted by 25% in a single day, and big investors also sold out.
No matter whether it was PEPE, which was popular for a while, or SHIB, which made many people rich, the altcoins eventually ended quietly; only individual players who took over at high prices would face the ending of zero.
In a bear market, there is less fomo and more calmness. Stay in the market and wait for the next opportunity.
The above is just my personal opinion, no investment advice. I am Chu Xiaolian, I am paying attention to the crypto market and web3.
