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VanEck: DeFi transaction volume fell to $52.8 billion in August, a 15% month-on-month decrease

By [DPOS](https://paragraph.com/@dpos) · 2023-09-18

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According to analysis by investment management firm VanEck, as on-chain economic activity decreased, DeFi transaction volume fell to $52.8 billion in August, a 15.5% decrease from July. The analysis believes that although DeFi tokens performed poorly in August, the ecosystem saw positive developments throughout the month. These developments include the dismissal of a class action lawsuit by Uniswap Labs and the growth of stablecoins from Maker and Curve.

Additionally, VanEck noted that current global interest rate levels, especially in the United States, continue to put pressure on stablecoins. The total stablecoin market capitalization fell 2% in August to $119.5 billion.

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*Originally published on [DPOS](https://paragraph.com/@dpos/vaneck-defi-transaction-volume-fell-to-52-8-billion-in-august-a-15-month-on-month-decrease)*