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Terra Fiasco Stirs Value Locked in Defi — Lido, Anchor Plummet to Lower Positions

Terra Fiasco Stirs Value Locked in Defi — Lido, Anchor Plummet to Lower Positions

Decentralized finance (defi) protocols are having a hard time weathering the storm, as the total value locked in defi today is down 39.26% since April 3, from $230.18 billion to the current $139.81 billion. The sudden value drop stemming from Terra’s native assets, LUNA and UST, has pushed Lido down to the third-largest TVL position in defi, losing 19.42% in 24 hours. Anchor Protocol has slipped down to the 12th largest TVL position, losing 66.34% in the 24-hour timeframe.

Value Locked in Defi Sheds 10% During the Last 24 Hours — Terra Defi Apps Rock the Boat

  • According to defillama.com stats, the value locked in decentralized finance protocols has dropped 10.58% in value during the past 24 hours, and 39.26% over the past 38 days since April 3, 2022. All ten of the top defi protocols in terms of TVL size have dropped between 1.61% and 19.42% in the last day.
  • The defi protocol Lido dropped from the second-largest position to the third-largest on Wednesday after losing close to 20% in value. Lido supports a number of blockchains, and one of them is the Terra network as it pays rewards in UST payments and allows LUNA bonding.
  • While the defi lending protocol Anchor was once the third-largest defi project just three days back, it is now holding the 12th position as it lost 66.34% during the last 24 hours. Seven-day stats show Anchor’s TVL lost 85.92% in value.
  • One of the only defi protocols that has seen its TVL rise over the last week is Tron’s Sunswap as it’s up 10.69% during the past seven days. Dydx managed to see its TVL rise by 0.80% this week and Arrakis Finance jumped 4.48% higher this week.
  • The stablecoin-centric automated market maker and decentralized exchange (dex) Curve Finance still dominated on Wednesday by 9.94% of the entire $139.81 billion. However, Curve is down 11.51% during the last 24 hours, 27% down for the week, adn 31.85% during the last month.
  • The TVL in cross-chain bridges has also dropped 20.3% this month and there’s currently a TVL of around $16.49 billion spread across cross-chain bridge protocols. Polygon and Avalanche command the largest cross-chain bridge TVLs today.
  • While Terra was once the second largest in the defi space under Ethereum’s TVL, it has dropped to the sixth position. $3.71 billion remains in Terra-based defi protocols, while the leader Ethereum has $86.51billion.

What do you think about the decentralized finance market action during the last few days and how Terra’s ecosystem is affecting the value locked? Let us know what you think about this subject in the comments section below.

Binance Coin Price Prediction for Today, May 14: BNB Under Pressure As Price Plummets Below $290

The Binance Coin price prediction eyes $285 support to gain momentum to overcome resistance at the $300 level. BNB/USD Market Key Levels: Resistance levels: $350, $370, $390 Support levels: $230, $210, $190 BNBUSD – Daily Chart BNB/USD has been facing the downside as the coin heads to cross below the lower boundary of the channel.::Listen

The Binance Coin price prediction eyes $285 support to gain momentum to overcome resistance at the $300 level.

BNB/USD Market

Key Levels:

Resistance levels: $350, $370, $390

Support levels: $230, $210, $190

Binance Coin Price Prediction
BNBUSD – Daily Chart

BNB/USD has been facing the downside as the coin heads to cross below the lower boundary of the channel. Before the sideways trading, the Binance Coin touches the resistance level of $298 with the generally bullish market during the European session as the coin retreats below the opening price of $290.2.

Binance Coin Price Prediction: Would BNB Price Move Higher?

The Binance Coin is trading at $287.3 amid losses below the 9-day and 21-day moving averages in the daily chart. At the time of writing, the drop is likely to be consistent as the technical indicator Relative Strength Index (14) emphasizes the declines trending lower below 35-level. The nearest support at $250 is likely to hold despite the strong arm of the bears while sideways trading could also take precedence based on the technical indicator.

However, to come out of the resistance range under $300, BNB/USD must pull toward $320 and focus on taking down higher hurdles at $350, $370, and $390. Nevertheless, if the bullish push failed and $270 support comes to focus, expect more support at $250 below the lower boundary of the channel, and any further support levels could be located at $230, $210, and $190.

BNB/BTC Market: Consolidating to the Downside

Against Bitcoin, the recent price decline places the Binance Coin below the 9-day and 21-day moving averages. However, the 0.009 BTC and below could provide a support level for the next selling pressure as the Relative Strength Index (14) moves below 50-level.

BNBBTC – Daily Chart

Meanwhile, after touching the daily high of 0.010 BTC today, BNB/BTC price drops to where it is currently trading at 0.0098 BTC. However, if the support level of 0.0094 BTC can act as a solid line of defense against any further downtrend; the resistance level of 0.010 BTC and above may come into focus.

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Terra Fiasco Stirs Value Locked in Defi — Lido, Anchor Plummet to Lower Positions

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