Total borrowing from DeFi lending platform plunged 23% in a single week, hitting a three-month low."
According to online reports, according to CoinDesk, due to the violent fluctuations in the cryptocurrency market, the total borrowing amount of DeFi lending platform plunged 23% in a single week to US$18.2 billion, hitting a three-month low. Borrowing sizes for the main agreements Aave and Compound shrank by 28% and 19% respectively, reflecting massive deleveraging by traders. Analysts pointed out that the spread of market panic has led investors to prioritize repaying loans rather than new loans, a trend that could further exacerbate liquidity tightening if it continues.
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