Even though most of the cryptocurrency markets are rebounding slightly, there are still some interesting metrics to keep an eye on. The DeFi TVl has taken a significant hit over the past two days, although things are improving. Even so, several platforms note a strong outflow of funds, with CREAM Finance leading the pack.
CREAM Finance Loses Traction
Whenever a DeFi platform sees a significant drop in total value locked, there is a reason for concern. For CREAM Finance, there is a daily change in TVL of -24.05%, which is a rather steep amount. Considering how the platform still has over $460m in locked assets, it seems unlikely this pattern will repeat itself.
However, under most circumstances, there would be a hack or theft or bug to trigger such a massive outflow. For CREAM Finance, it seems as if everything is in order, making this negative change rather curious. There is no apparent reason for such a steep TVL decline with no negative developments to speak of.
Even though there are other reasons as to why people may be pulling funds out of CREAM Finance, those reasons remain unclear. The recent price decrease of all markets will not help matters, yet it seems 90% of DeFi platforms note growth in TVL again. There will always be outliers, yet it is uncommon to see such popular platforms on this list.
CREAM Finance isn’t the only platform noting a decrease in TVL these past 24 hours. Several projects, including Cryptex and DeFiner, have lost over 10% in total value locked. Losses are a bit less steep for ForTude, DODO, KeeperDAO, and dYdX. An interesting situation well worth keeping an eye on over the next few days.
A Strong Rebound For Some Platforms
It is remarkable how some of the DeFi platforms suddenly note a substantial increase in total value locked again due to the recent market recovery. Interestingly enough, these platforms are not necessarily the market leaders. Synthetix, Set Protocol, and Polygon lead the pack percentage-wise, as they all note an increase by over 10% overnight.
Despite these statistics, maker, Aave, and Compound remain the undisputed DeFi kings on the Ethereum blockchain. All of them maintain well over $10 billion in total value. Further down the rankings, Uniswap is close to overtaking Curve Finance , which may prove interesting as well.
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