American Securities and Exchange Commission SEC has put massive pressure on crypto since the beginning of the year. The government agency’s successive investigations into various exchanges have led to investors seeking decentralized finance. DeFicausing it to move to their platform.
Earlier this week, the SEC BinanceAnd Coinbase filed new accusations against its stock exchanges. The US government agency has decided to sue crypto exchanges for failing to comply with securities law. The action center that the SEC bought at the beginning of the week negatively affected the stock markets. However, the resulting on-chaindata shows that the DeFi industry remains intact.
Market tracker DeFiLlama has publicly shared the latest on-chain data as of today. Decentralized finance remained largely immune from SEC influence, according to the data. While TVL metrics have decreased slightly, the horizontal trend continues on a monthly basis.
The TVL metric on ADA, SOL and BNB networks has lost 5% since the start of the week. However, based on the monthly data, it turns out that the total value locked down has decreased by only 1%. Top 3 slices in DeFi pie, respectively Ethereum, TronAnd to Binance Chainbelonging
DeFi Tokens Suspend Drop
Although the investigations by the SEC had limited impact on the TVL metric, DeFi-linked tokens suffered a massive depreciation. Since the beginning of the week BNB, ISLANDAnd LEFTThe average 14% decline in tokens attracts the attention of investors.
Binance’s native token, BNB, fell to its lowest level in the last 6 months. Binance Coin and other tokens are moderately volatile today.
