DeFi Recorded a 15% Decline due to the Failure in August

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DeFi faces setbacks with 15% decline in August
In August, the decentralized finance (DeFi) ecosystem faced increased setbacks as on-chain economic activity declined. According to an analysis by investment manager firm VanEck, exchange volume dropped to $52.8 billion in August, marking a 15.5% decrease compared to July. This analysis was based on VanEck's MarketVector Decentralized Finance Leaders Index (MVDFLE), which monitors the performance of the largest and most liquid tokens on DeFi protocols. These tokens include Uniswap, Lido DAO, Maker, Aave, THORChain, and Curve DAO (CRV). Additionally, the DeFi index also registered a 21% decline in Bitcoin during August.