VanEck: DeFi protocol transaction volume fell to $52.8 billion in August, down 15.5% from July

Odaily information management company VanEck released an analysis report. As economic activities on the chain decreased, the transaction volume of DeFi protocols dropped to 52.8 billion US dollars in August, a month-on-month decrease of 15.5%. The DeFi index lagged Bitcoin and Ethereum, falling 21% in August as investors sold tokens to retain July gains. Additionally, TVL fell by 8% in August, from $40.8 billion to $37.5 billion, slightly better than Ethereum’s 10% decline that month. The analysis believes that although DeFi tokens performed poorly in August, there were positive developments in the ecosystem, including the dismissal of a class action lawsuit by Uniswap Labs and the growth of Maker and Curve’s stablecoins. (Cointelegraph)