Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • TRADING
  • HACKING
  • SLOT
  • CASINO
  • SUBMIT
Crypto Flexs
Home»ALTCOIN NEWS»The total value locked in this DeFi protocol crashed by 70%.
ALTCOIN NEWS

The total value locked in this DeFi protocol crashed by 70%.

By Crypto FlexsFebruary 5, 20243 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
The total value locked in this DeFi protocol crashed by 70%.
Share
Facebook Twitter LinkedIn Pinterest Email

The LBR native token of decentralized finance protocol Lybra Finance has experienced significant price volatility over the past week as major supporters have sold off the asset.

Lybra Finance, developer of the high-yield eUSD stablecoin, aims to maintain a stable $1 peg and generate revenue from collateralized floating staking tokens. In January 2023, the DeFi protocol reached its maximum TVL of nearly $400 million.

LBR price drop by 50%

SpotOnChain, a prominent blockchain analytics firm, reported that Key Opinion Leaders (KOLs) and anonymous addresses holding significant amounts of LBR tokens control a significant portion of the network’s Total Value Locked (TVL).

LBR’s decline began when these substantial holders began selling their assets. On January 15, Blurr.eth, the top protocol staker, removed all 34,000 ETH ($70 million), while other major stakers sifuvision.eth and czsamsunsb.eth removed 6,000 ETH ($13 million) and 4,000 ETH. ($8 million) was thrown away. , respectively today.

LBR token flow. source: Spot on Chain

Due to these actions, the value of LBR has fallen approximately 14% over the past day to $0.4263 at press time. Over the past week, LBR has experienced a significant decline of around 50%.

“Influential key opinion leaders (KOLs) have abandoned their tokens. It is unclear whether LBR will ever make a comeback,” wrote blockchain analytics firm SpotOnChain.

Meanwhile, increasing selling pressure had a negative impact on the eUSD stablecoin, causing it to briefly deviate from its peg and fall to $0.97. It has recovered to $1.01 as of press time, but it is worth noting that trading volume has remained below $4,000 over the past 24 hours, according to CoinMarketCap data.

DeFi TVL drops 70%

As a result of these developments, the total value of assets locked in DeFi protocols plunged nearly 70% over the past day, from $245.85 million to $79 million, according to DeFiLlama data.

Industry experts have suggested that the sharp decline was caused by whales withdrawing ETH and moving to other protocols with better returns.

“People simply have better ways to use their ETH, that’s all. Why Lybra when people can re-stake Lybra, get LRT, get lots of EL+ other points, and rent stalls for that?” Would you like to store ETH in a position,” said cryptocurrency analyst Yorki.

Lybra Financial TVL
Lybra Finance total value is locked. Source: DeFillama

Lybra Finance attributed the decline to user behavior, adding that the protocol and user funds remain safe.

“We know that there has been a sudden drop in TVL due to user behavior. The protocol is secure and users’ assets are not affected. Don’t panic,” said the Lybra team.

disclaimer

In compliance with Trust Project guidelines, BeInCrypto is committed to unbiased and transparent reporting. These news articles aim to provide accurate and timely information. However, before making any decisions based on this content, readers are encouraged to check the facts and consult with experts. Our Terms of Use, Privacy Policy and Disclaimer have been updated.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

‘Fat Apps’ can lead the cryptographic story in the next few months.

September 11, 2025

Binance explodes 466m LUNC with oblivion: revival play or special effect?

September 4, 2025

Defi Surges, BTC Swings & Tradfi faces freezing: Daily encryption failure

August 28, 2025
Add A Comment

Comments are closed.

Recent Posts

Zircuit Launches $495K Grants Program To Accelerate Web3 Super Apps

September 16, 2025

Kintsu Launches SHYPE On Hyperliquid

September 16, 2025

New Cryptocurrency Mutuum Finance (MUTM) Raises $15.8M As Phase 6 Reaches 40%

September 16, 2025

How XRP Enthusiasts Can Earn $15k/Day

September 16, 2025

Bringing 1R0R To R0AR Chain Unlocks New Incentives

September 16, 2025

As the Air drop recipient is sold, the infinite price is 46% conflict after Binance listing.

September 16, 2025

Vulnerability or orbit again? BTC has a line at $ 115K

September 16, 2025

Bitcoin Treasury Firm Strive adds an industry veterans and starts a new $ 950 million capital initiative.

September 16, 2025

France can break the EU password market with ‘atomic weapons’.

September 15, 2025

Cardano (ADA) Signal Recovery -Is there a strong rise?

September 15, 2025

BitMine Immersion (BMNR) Announces Crypto And Cash Holdings Of $10.8 Billion, ETH Holdings Exceeding 2.151 Million

September 15, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Zircuit Launches $495K Grants Program To Accelerate Web3 Super Apps

September 16, 2025

Kintsu Launches SHYPE On Hyperliquid

September 16, 2025

New Cryptocurrency Mutuum Finance (MUTM) Raises $15.8M As Phase 6 Reaches 40%

September 16, 2025
Most Popular

According to this indicator, Litecoin investors are truly diamond hands

February 25, 2024

Bringing 1R0R To R0AR Chain Unlocks New Incentives

September 16, 2025

The lowest price for Bored Ape Yacht Club (BAYC) has fallen below 10 ETH.

June 18, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.