Worst cryptocurrencies in the DeFi sector for the week
Experts analysed the worst cryptocurrencies of the week in the decentralised finance (DeFi) sector as of 8 September 2022.
Although the total capitalisation of virtual assets rose to $49.91bn, up 16.5% from yesterday, there were projects that took losses for their investors over the past seven days.
Rari Governance Token (RGT) was the worst performer of all DeFi cryptocurrencies. The decentralised platform’s governance token has fallen in value by 12.38% over the past seven days. Yesterday afternoon it was trading at $4.02, with a market capitalisation of $50.15bn.
Second place on the list of losing assets from the DeFi sector went to Raydium (RAY). This virtual currency was worth $0.609. Its value fell by 7.84%, with total coin supply falling to $81.27m.
Nervos Network (CKB) was next in the loss ranking. The digital coin was trading at $0.0035. The exchanges recorded a 7.27% drop over the past 7 days. The virtual currency capitalization amounted to $118.2 million.
In addition, several other cryptocurrencies fell by more than 7%. Kava (KAVA) fell 7.19% to $1.59. Theta Fuel (TFUEL) was trading at $0.054 (-7.1%), while Fantom (FTM) was trading at $0.25 (-7.09%)
Activity in the decentralised finance (DeFi) sector increased by 3.7% during August 2022, according to the Blockchain Industry Report. Compared to July’s data, the total number of blocked funds (TVL) fell by 10.5%. Analysts assured that this is due to the situation happening in the crypto market. Meanwhile, ETH network scaling solutions have increased their own numbers in anticipation of the upcoming network merger.