SVB Implosion Dampens NFT Trading, Boosts DeFi Transactions: DappRadar
TL;DR Summary
The implosion of Silicon Valley Bank (SVB) last week caused a frenzy of decentralized finance (DeFi) transactions, according to DappRadar. The news led to a significant drop in DeFi's total value locked (TVL), falling by 9.6% from $79.28 billion to $71.61 billion. However, the market stabilized after USDC reserve deposit held at SVB was fully available to the public, leading to a 13% spike in DeFi TVL, reaching $81.15 billion. Uniswap V3 was behind the surge in activity, with a volume of $14.4 billion, the highest figure ever registered for V3.
- Silicon Valley Bank Implosion Whipped Up Frenzy of DeFi Transactions As Crypto Assets Rebounded: DappRadar The Daily Hodl
- Silicon Valley Bank Drags Down NFT Trading Volume by 51%: Report CryptoPotato
- U.S. Banking turmoil halts NFT hype as DeFi thrives CryptoSlate
- SVB Collapse Tanked NFT Trading Volumes, DappRadar Report Suggests CoinDesk
- SVB collapse chilled NFT trading volumes: DappRadar Cointelegraph
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