Many of you mentioned yield going down, which is true.
However, rather than TVL, I’m more concerned about the ‘number of trades’ chart. It shows Synthetix has not increased adoption at all over the last 12 months. In fact, less people are trading using the protocol.
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Mirror Protocol's growth seems to have stagnated recently, both in terms of TVL and volume.
Synthetix doesn't look good as well. Number of trades is actually lower than DeFi summer of last year.
Any insight on what's going on with the synthetic asset market?
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