BTC PULSE
No Result
View All Result
Play Now
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Blockchain

DeFi Weekly Roundup: Decentralized Finance To Be Reviwed At CFTC Tech Advisory Meeting; DeFi Plunge Below $50 Billion Mark; Synthetix Installs V3 On Ethereum.

by Abimbola Adu
Mar 4, 2023 - 12:00 am
in Blockchain
How 2 DeFi Protocols Crashed When Chainlink Paused LUNA Price Feeds

The U.S. State Department’s Commodity Regulator set up a console at an impending consultative meeting to investigate some issues in decentralized finance.

Join us 3/22 (webcast) to hear presentations from experts on Cybersecurity: The ION Markets Attack and Beyond, Exploring Decentralized Finance, and Responsible Artificial Intelligence https://t.co/iwQvR6fSv2

— Commissioner Christy Goldsmith Romero (@CFTCcgr) March 1, 2023

On Thursday, March 2, 2023, Christy Romero, commissioner of the Commodities Futures Trading Commission, commented on Twitter that there would be a presentation about DeFi from various professionals. The panel is determined to investigate the DeFi space at an upcoming meeting where crypto industry experts are invited and meant to be available. Several consoles will explore adequate Artificial Intelligence (AI) development and any threats that arise from AI, coupled with threats to the market from cybersecurity.

The crypto market’s worth began to drop again after a buoyant bull accumulation over the past week. The TVL in Defi plunged below the $50 billion mark to exactly $49.8 billion.

On February 25, 2023, Ethereum had the highest TVL, leading by 58.45% of all blockchains. Tron came in second with 10.64%, followed by BSC with 10.01%, Arbitrum with 3.89%, and Polygon with 2.36%. These five blockchains captured 85.35% of the total value stored in decentralized finance on Saturday. Among the top ten blockchains, Arbitrum caught the eye with its TVL increasing by 9.39% last week and 60.87% over the last month.

This week, among the first ten smart contract coins, the biggest drop was attributed to Polygon, with a 17.6% dip. The largest pump was Stacked, which rose to 102.5%. The second-largest coin pump was the Kylin Network (KYL), which rose to 69.1%. The two greatest losers were Astar (ASTR), which lost a whopping 26.2%, and Shiden Network, with a dip of 23.9%.

The recent crypto dip had a huge impact on the values of smart contract tokens and the TVL in DeFi over the last month. Jamie Redman, a news and financial journalist at Bitcoin.com gave a rundown of how the recent dip impacted Lido and Uniswap. Both Lido and Uniswap enjoyed a 30-day increase of 8.43% and 6.43%, respectively, during the dip.

Synthetix, an on-chain liquidity and derivative trading protocol, deployed version 3 (v3) on the Ethereum blockchain. Synthetix (SNX) is a convention that allows the issuance of synthetic assets on the Ethereum mainnet. These enable users and participants to mint, hold, and trade derivatives.

Tags: Synthetix
Abimbola Adu

Abimbola Adu

Abimbola Adu is a crypto content writer with a background in English studies. She is keen on enlightening others about cryptocurrency and blockchains. She enjoys writing poems and spending time with family.

Related Posts

Arthur Hayes speaking about Bitcoin as Japan’s new Prime Minister announces economic stimulus measures

Arthur Hayes Predicts $1M Bitcoin as Japan’s New PM Unveils Economic Stimulus

October 22, 2025

Arthur Hayes predicts Bitcoin could hit $1M as Japan’s new PM Sanae Takaichi launches economic stimulus, signaling potential...

blockchain

Bolivia’s President-Elect Rodrigo Paz Turns to Blockchain to Fight Corruption

October 20, 2025

Bolivia’s new president Rodrigo Paz plans to use blockchain in public procurement and crypto asset declarations as part...

Metaplanet and Bitcoin Magazine logos, symbolizing their new partnership to expand operations in Japan.

Japan Moves Toward Allowing Banks to Buy Bitcoin Under New Regulatory Framework

October 19, 2025

Japan’s regulators are reviewing changes that could let banks buy and hold Bitcoin, signaling a major shift in...

24H HOLD token price chart showing 35% surge despite market pullback

Crypto markets surge as Trump confirms October 31 summit with Xi Jinping

October 19, 2025

Crypto markets rebound after Trump confirms October 31 summit with Xi Jinping, easing US-China tensions and sparking optimism...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • About Us
  • Advertise
  • BTC-PULSE
  • Contact Us
  • Events
  • Privacy Policy
  • Sitemap
  • Terms of Service