Data shows value locked on DeFi ecosystems on Cardano, Solana and BNB Chain networks fell just over 1% on a monthly basis, despite the SEC classifying the tokens of the networks as securities. By shauryamalwa.
value locked on Cardano, Solana and BNB Chain networks fell just over 5% in the past week – in line with a broader market decline. These declines hovered at just over 1% on a monthly basis, the data show.Some market observers opined that the lack of capital from DeFi applications was suggestive of the type of market participant that dominates the current climate.
"The tokens themselves being deemed securities have nothing to do with the viability of the underlying tech of DeFi and does not make the tokens/dApps any more or less valuable. These forces will likely only drive more financial activity to DeFi,” Doane added. “Personal view is that until regulation is enforced and these tokens are officially classified as securities, it’s unlikely that we see a significant impact on the ecosystems,” he added.
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