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25 June 2021

Ethereum DeFi Activity Has Slowed Down to 2020 Levels - Decrypt

Ethereum DeFi Activity Has Slowed Down to 2020 Levels - Decrypt


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The bad news: That's because demand for Ethereum and Ethereum-based DeFi protocols has fallen, along with prices, as partly evidenced by a 28% drop in Uniswap trades from a mid-May peak.

Andaccording to DeFi Pulse, the dollar value of the tokens locked into just those four protocols is more than $30 billion.

Moreover, assuming liquidity in DeFi lending protocols and exchanges remains high, trading can now commence at much lower fees

Average Ethereum transaction fees on May 30stood at $4.82, their lowest rate since January 1; at their height, on May 19, the average fee was $71.72 as DeFi traders, NFT buyers, and others using protocols on the Ethereum blockchain tried to push through transactions on the congested network

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