June DeFi Eco Report: overall performance down, massive decrease in user transactions

Following May’s plunge, DeFi Eco as a whole showed a downward trend until June, when the substantial decline in DeFi Eco eased.

Since the summer of 2020, the DeFi ecosystem has become a key focus for digital asset investors. Following the plunge in May, the DeFi ecosystem as a whole showed a downward trend until June, when the significant decline in the DeFi ecosystem eased and was already in a relatively stable state, but in from late June, the entire ecosystem started to show the first signs of a significant decline again.

In addition to that, the overall user level as well as the number of transactions in June was lower than in previous months, and the whole market was not too volatile. And at the end of June, the major project agreements all showed a large number of user transactions and a decline in the number of transactions. In order to have a more intuitive feeling of the development of the whole DeFi ecology in June, Ostrich Blockchain integrates the overall performance of each track of DeFi ecology in June in detail, and the following are the details of the analysis.

Total lock volume
From the overall market situation, the performance of DeFi protocols in June continued to show a downward trend. According to Debank data, at the time of writing, the total lock-up volume of DeFi agreements was $72.6 billion, down 9.8% compared to $80.2 billion at the end of May, and the net lock-up volume also dropped to $55.2 billion.

Since PancakeSwap came out of nowhere a few months ago it has reigned at the top of the list DeFi protocol lockups for nearly two months, which has broken the pattern of internal competition for top one among the seeded players like Maker, Compound and Uniswap.

From June, Aave V2 and Curve gradually took off and ranked first on the list several times, while the top 5 DeFi protocols remained without much change. At the time of writing, Curve topped the list with a total lockup of $8.3 billion, Aave V2 came in second with a total lockup of $7.7 billion, and Compound ranked third with a total lockup of $7.1 billion.

Curve ($8.3 billion total locked position)

According to Debank data, Curve’s overall lockup volume showed a slow upward trend in June, trying hard to break through the $8 billion echelon. Trading volume showed a downward trend compared to May, with the number of transactions as well as trading users starting to decrease significantly at the end of June.

Aave V2 (total locked position of $7.7 billion)

Aave V2 performed well in the overall June. According to Debank data, Aave V2’s total locked position and total borrowing volume in June showed an overall straight line and stable development. In addition, Aave V2 only had one relatively large liquidation in the whole month of June, of which, the liquidation volume reached $12.07 million on June 22.

Compound (total locked position of $7.1 billion)

Compound’s overall lockup volume was decreasing slightly in June, and its total lending volume remained largely stable. In addition, Compound saw two relatively large liquidations throughout June, with liquidation volumes reaching $5.34 million on June 11 and $5.22 million on June 22.

PancakeSwap ($6.9 billion in total locked positions)

PancakeSwap’s overall lock-up volume remained flat in June, with a serious decline in trading volume starting in late June and a gradual decrease in the number of trades and users.

Maker (total locked position $5.9 billion)

Maker’s total lock-up volume in June showed a slightly decreasing pattern, with the overall level dropping from the $6 billion ladder in May to the $5 billion ladder, and the total borrowing volume as a whole remained basically unchanged in June. In addition, Maker saw two relatively large liquidations throughout June, with the liquidation volume reaching $2.98 million on June 22.

Uniswap V2 (total locked position of $5.3 billion)

Uniswap V2’s lockup volume fell out of the $5 billion ladder for a while since mid-June, gradually decreasing until it turned back slightly at the end of the month and broke $5 billion. Its trading volume also started to increase in the second half of June, which led to an increase in Uniswap V2’s lock volume for a while, while the number of transactions and users started to decrease significantly since the second half of June, showing a “waterfall” trend.

SushiSwap (total locked positions $2.8 billion)

SushiSwap’s total lock volume trended down slowly throughout June, losing ground on the $3 billion ladder from June 16 onwards and only recovering slightly towards the end of the month, with SushiSwap’s trading volume, number of trades and number of users falling sharply towards the end of the month to the lowest point of the month.

Liquity ($2.4 billion)

Liquity’s total lock position showed a slow decreasing trend in June, with a gradual overall downward trend despite the volatility.

Venus ($2.1 billion total locked position)

Venus’ total lock-up volume and total lending volume in June showed a small downward trend, but its development was relatively stable from an overall perspective. venus had a total of one relatively large liquidation in June, with a liquidation volume of $1.71 million on June 22. The $100 million bad debt in May had a profound impact on its overall ranking from the current Venus is still visible.

Aave ($2.1 billion total locked position)

Aave’s total lock-up volume showed a downward trend from June as a whole and fell out of the $300,000 ladder since June 18, and then still continued to decline slowly.

DEX
According to Debank data analysis, the overall volatility of the decentralized exchange’s trading volume was high from June, and as of the date of writing, the total 24-hour trading volume of the decentralized exchange was $4.14 billion. Of these, there were two significant drops in trading volume throughout June, a 38.8% drop from the previous day on June 5, and a 38.2% drop on June 23.

Although the sudden takeoff of the BSC and Heco ecosystem has led to the rise of PancakeSwap and Mdex projects, Uniswap is still unstoppable in the decentralized exchange circuit, and the newly launched Uniswap V3 has made the whole circuit even more competitive. At the time of writing, the top decentralized exchange on DeFi in terms of DEX trading volume is Uniswap V2 with $1.43 billion in volume, followed by Uniswap V3 with $747 million in volume. In third place is the BSC ecosystem’s Mdex with $413 million in volume, PancakeSwap is fourth with $313 million in volume and 1inch is fifth with $256 million in volume.

At the time of writing, Mdex’s total lock volume has been decreasing since June as a whole, and the number of trades and users has been decreasing since late June.

1inch’s total locked position was stable from June, with the total volume remaining in the range of $160 million to $240 million. Its number of transactions as well as the number of trading users also started to decrease significantly from the end of June.

Stable Coins
At the time of writing, the total issue volume of stable coins on Ether was $72.49 billion, a 6% increase from the total issue volume of $68.28 billion in May. According to Debank data, Tether remains the leader in terms of total supply of stablecoins on ethereum, with USDT totaling $28.9 billion in issuance, followed by USDC with $24.1 billion in total issuance, BUSD in third place with $10.2 billion in total issuance, DAI in fourth place with $5.25 billion in total issuance, and TUSD in fifth place with $1.2 billion in TUSD ranked fifth with total issuance of $1.2 billion.

Secured Lending
After a significant decline in the DeFi lending market since May, total lending remained at around $17.5 billion throughout June, with no significant ups and downs, and at the time of writing, total DeFi lending volume was $17.25 billion. Among them, Aave v2 ranked first with a total borrowing volume of $5.5 billion; the remaining top five lending projects were: Compound with a total borrowing volume of $5.3 billion, Maker with a total borrowing volume of $4.7 billion, Venus with a total borrowing volume of $1.1 billion and Aave v1 with a borrowing volume of $210 million.

BTC Anchor Coin
Compared to May’s 12% growth in BTC anchor coins, June’s growth was less pronounced. According to Debank data, BTC anchor coins grew 7.8% from June as a whole, with a total issue volume of 260,000 now. Among them, WBTC sits firmly on the list with 190,000 issues.

Prophecy Machine
The only prophecy machine projects on DeFi are still ChainLink, Uniswap V2, Maker, SushiSwap, and Nest. according to Debank data, the overall number of prophecy machine calls in June was lower than in May, with the highest number of calls being 23,483 on June 22. The lowest number of calls was 5,508 on June 27, the

Author: Chen Yi Evening Wind

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/june-defi-eco-report-overall-performance-down-massive-decrease-in-user-transactions/
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