Crypto Long & Short: The Striking Dichotomy in DeFi Tokens Post 10/10

3. Lending and yield names have broadly steepened on a multiples basis, as price has declined considerably less than fees. For example, KMNO’s market cap fell 13% over this period, while fees declined 34%, according to data from Artemis. Another factor may be that investors are crowding lending names in the selloff, considering lending and yield-related activity is often seen as stickier than trading activity in a downturn. Lending activity may even pick up as investors exit to stablecoins and seek yield op ...