The last couple weeks in DeFi have been an absolute bloodbath.
But keep in mind bull markets never go up in a straight line.
In the 2017 ICO boom ETH pulled back 20%+ seven times before it peaked in January 2018.
So far in this bull market we’ve only experienced one.
1/
What's clear right now is that there are more sellers than buyers and DeFi’s summer casino could be coming to an end (it’s the start of Fall anyways?).
But let’s zoom out and look at DeFi’s summer in numbers.
messari.io/article/a-data…
The median DeFi asset is down more than 40% in the past 30 days.
Take some time to digest this table.
Below are a couple takeaways from the data.
1. After the 40% pullback over the past month the median DeFi asset is now down 3% over the past 90 days, underperforming both Bitcoin and Ethereum.
2. Blue chip DeFi assets like YFI, LEND, SNX, and NXM are all still up big this summer even after the recent pullback, far outpacing Bitcoin and Ethereum.
3. First generation DeFi assets such as MKR and REP, and newly launched / forked DeFi assets such as SWRV, CRV, and SUSHI, have suffered the most in the selloff and weighed down the DeFi sector.
Check out my latest piece where I take a quick by the numbers look at how far DeFi has come this summer and put the recent growth in perspective.
messari.io/article/a-data…
Share this Scrolly Tale with your friends.
A Scrolly Tale is a new way to read Twitter threads with a more visually immersive experience.
Discover more beautiful Scrolly Tales like this.