Optimism have performed well in shrinking DeFi ecosystem
The contagion from the Curve Finance exploit is spreading throughout the DeFi ecosystem. JP Morgan’s team of analysts led by Nikolaos Panigirtzoglou penned a report on the state of DeFi and said that the ecosystem is in a shrinking or stalling mode.
Bitcoin price is at a six-week low as BTC options contracts worth $530 million are set to expire on Friday. The maximum pain point or the price at which the contracts would incur the highest financial losses is $29,500.
The crypto market capitalisation has seen little change over the past 24 hours, stabilising around $1.165 trillion. The Fear and Greed Index is also little changed at 54 since the middle of last week. The market has been waiting for new signals, equally ready to return to growth or continue to fall.
