Ethereum DeFi Projects Dropped To Levels 2020 of the year – Bits Media

In recent days, fees on the Ethereum network have dropped to $5. This is due to a decrease in the number of transactions in DeFi applications, which has returned to the level 2020 of the year.

In just two weeks, the volume of transactions in the Ethereum network in US dollars has decreased 60%. Quantity transactions on a decentralized Uniswap exchange decreased 28% Compared to peak values ​​of the mid -May.

“In almost all indicators of activity in the Ethereum blockchain, a significant decline has been recorded over the past month. There was a quick transition from growth to stagnation, All mempoules were cleaned, And the demand for transactions has fallen strongly ", - noted Glassnode analysts.

Separately, they analyzed the dynamics of transactions and the prices of tokens of popular Defi protocols. The number of translations, As well as their volumes, With COMP tokens, AAVE, UNI and YFI also significantly decreased.

“These indicators are simple, but very effective as a high -level mood indicator of a mass investor, And you can see, How they correlate with tokens courses ", - Representatives of Glassnode write.

Really, Over the past month, the YFI TOKEN has lost 26%, And the AAVE token showed a decrease in 27%. The UNI and COMP tokens suffered more significant losses, which decreased on 40% and 55% respectively.

However, like Defi project tokens courses, and the number of transactions in them still remain quite high. for instance, UNI token is still three times more expensive, than at the beginning of the year.

At the beginning of the month it was reported, that the commission has fallen on the Bitcoin network - the indicator has reached the smallest value from the beginning of the year.