The post Major Altcoin Selloff Causes $4.9B Liquidation Across Assets, Defi Most Hit appeared first on Coinpedia Fintech News
The recent market turmoil has created waves in the crypto landscape which has led to a staggering $455 million in liquidations. While the dominating BTC and ETH also couldn’t escape it, the Defi market faced an even harsher impact. The Defi market TVL dropped from $104.123 billion to $99.148 billion in a single day with an absolute decrease of nearly $5 billion. Avalanche faced a severe hit of 5.60%. Thorchain’s TVL fell over 29% in just 24 hours, which raised questions about the stability of the Defi sector. Major TVL wipeouts could push investors to become more wise, focusing on protocols with solid fundamentals and a strong user base.