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Ethereum Fundamentals: DeFi Total Value Locked Passes $4 Billion

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Nick Chong

After a near-unstoppable uptrend, Ethereum’s rally was stopped dead in its tracks just 20 hours ago. In the span of just around ten minutes, the price of the leading cryptocurrency plunged from $415 to a low of $325 on most spot exchanges.

Chart of ETH's price action over the past few days from TradingView.com

This move purportedly triggered over $100 million worth of liquidations over Ethereum’s margin markets.

Despite this extreme volatility across the cryptocurrency market, Ethereum’s killer use case, decentralized finance (DeFi), continued to gain steam.

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