DeFi Market Cap Plunges 25% in One Day
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8 October
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According to the market data company Santiment, the decentralized finance sector (DeFi) suffered a significant fall yesterday.

In particular, according to the data provided by the resource, the market capitalization experienced a 25% decline yesterday.

On top of that, the resource has reported through a blog post this fall was accompanied by a 30% decline in the trading volumes of DeFi tokens. In particular, the most affected DeFi tokens are Sushi (SUSHI), Uniswap (UNI) and yearn.finance (YFI) after suffering weekly losses of 51%, 38% and 31%, respectively.

While many have already predicted the end of the DeFi experiment, Santiment suggests these declines may be related to "whale accumulation" around several DeFi assets, including Synthetix (SNX).

This is not the first news related to falls in the DeFi sector. For example, iHodl has recently reported that Binance DeFi index has dropped by 50% in one month.

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