The decentralized finance (DeFi) is now facing a serious downturn of activity. This space had been growing quickly for the last few years, but the opposite seems to be happening now. The price of Ethereum actually dropped a few days ago, which is bad news for DeFi, because most DeFi applications are built on Ethereum. At decentralized exchanges (DEXs), where you can trade one cryptocurrency for another, the trading volumes this week have dropped like a stone. PancakeSwap is one of the DEXs that is being hit hardest. Its losses are even worse than those at the other DEXs. DEX
The post DeFi and DEXs Struggling Amid Market Uncertainty: PancakeSwap Takes the Hardest Hit appeared first on The Merkle News.
