Aave briefly overtook MakerDAO as the second-largest DeFi protocol in terms of TVL following the collapse of Silicon Valley Bank. However, the tides turned following Curve's hack, and it slipped back to third place.
Although the alt’s price has declined by 7% in the last week, an on-chain assessment of its ratio of daily on-chain transaction volume in profit to loss revealed that many transactions completed during that period returned profits.This metric tracks the ratio between transaction volume in profit and transaction volume in loss. A positive ratio above zero suggests market participants make more profits than losses.
On a 7-day moving average, for every 1 AAVE transaction that resulted in a loss, there were 1.29 AAVE transactions that resulted in a profit. However, a closer look at the asset’s general profitability revealed that many investors have continued to hold at a loss. A look at AAVE’s Market Value To Realized Value ratio revealed this. At press time, this was -3571.04%.An asset’s MVRV measures the ratio between the current market capitalization of an asset and its realized capitalization. It is used to determine whether an asset is undervalued or overvalued.
Resting under the zero line in the last year, AAVE has since been severely undervalued. This suggested that most traders realized losses on their investments each time they sold their AAVE tokens at the current price.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
How MakerDAO showed resilience in the wake of Curve Finance attackWhile other DeFi protocols grapple with TVL losses in the aftermath of Curve's hack, MakerDAO sees some action.
Read more »
Why Solana’s flourishing DeFi space might not bear fruit for investorsOver the past few months, Solana’s TVL has been on the rise, as have its fees and revenue. However, SOL’s price continued to remain bearish.
Read more »
Here’s how Avalanche could make progress in the DeFi sectorInterest in RWAs begin to rise. Avalanche's huge investment into the tokenization sector may help improve the condition of the ailing TVL of the protocol.
Read more »
Caribbean carnival's Grand Parade brightens city streetsThe Toronto Caribbean Carnival\u0027s Grand Parade packed the streets around Exhibition Place on Saturday.
Read more »
Unhappy ending for Hollywood stars Reynolds, McElhenney and Jackman as Wrexham loses league opener | TSNRyan Reynolds, Rob McElhenney and Hugh Jackman watched an eight-goal thriller which had an unhappy ending for the Hollywood stars as Welsh soccer club Wrexham lost its first match back in England’s Football League on Saturday.
Read more »
Canada’s Carol Zhao loses in qualifying at National Bank Open in MontrealThe 28-year-old Zhao from Richmond Hill, Ont., ranked 245th in the world, lost to Spain’s Critstina Bucsa Saturday
Read more »