Lending Tokens See Broad Declines in June, But One Altcoin Stands Out
Lending and borrowing in the crypto space are facing scrutiny, with many blaming just that activity for the latest crypto market sell-off. But how have the tokens in this category really performed during the market rout?
We took a look to find out.
The list contains tokens in the Lending & Borrowing category on coinmarketcap.com. Only tokens with a market capitalization of more than USD 10m have been included.
All prices are recorded on Friday morning at 09:20 UTC.
Best performers in the past 30 days:
Worst performers in the past 30 days:
Perhaps most notable from the ranking above is Celsius, the lending and borrowing company that earlier in June halted all customer withdrawals due to what it called “extreme market conditions.” The halt came after a prolonged period of speculation in the crypto community that the company was under pressure, and the withdrawal freeze only served to confirm those speculations.
Still, the company’s own CEL token has regained enough ground in June to become the top performer in the category for the past 30 months – an impressive feat for a token issued by a company that some argued was facing bankruptcy.
On the other side of the spectrum was Alchemix and its ALCX token – a project with a market capitalization of just USD 28m.
Further down the list were better-known decentralized finance (DeFi) tokens such as Compound’s COMP and AAVE, which posted sharp declines of between 35 and 40% for the month.
Solana (SOL)-based borrowing and lending service Solend also made news recently, as it first put forth a proposal that approved the takeover of one of the whale wallets at risk of liquidation, then followed that with the second proposal to nullify the first one, as it was facing community backlash, and
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