MarginFi, a lending platform on the Solana blockchain, experienced a record-breaking day of withdrawals, with lenders pulling out $80 million in a single day. This has led to a decline in MarginFi's Total Value Locked (TVL), possibly due to recent leadership changes.
was one of the few networks that gained massive popularity over the last few months. However, one space where Solana was observed to be facing challenges was the lending sector.MarginFi, a lending platform on the Solana blockchain, experienced a record-breaking day of withdrawals. In a single day, lenders pulled out a staggering $80 million, signaling a potential loss of confidence.
This could be due to recent leadership changes at MarginFi. Edgar Pavlovsky, the CEO of the company behind the crypto borrow-and-lend platform MarginFi, resigned on 10th April as internal conflicts within the prominent Solana DeFi project became public.
Solana Lending Platform Withdrawals Marginfi Total Value Locked TVL Leadership Changes
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Solana’s $4.6 billion TVL: How Tensor’s token debut played a roleThe listing of a Solana-based token on major exchanges caused a discussion around the network, but major metrics remained unmoved.
Read more »
Solana DeFi TVL soars 80% in a month: How will SOL react?Solana's [SOL] decentralized finance (DeFi) total value locked (TVL) has surged by over 80% in the last month, according to data...
Read more »
Dog Chews Up Teen's RetainersA teenager's dog chews up their retainers, costing $80 to replace.
Read more »
Vitol Sees Oil at $80-$100 This Year With Strong Demand GrowthCrude prices are likely to stay between $80 and $100 a barrel this year, according to Vitol Group, the world’s largest independent oil trader.
Read more »
'Godzilla x Kong: The New Empire' roars to an $80 million box office openingLOS ANGELES (AP) — The Godzilla-King Kong combo stomped on expectations as “ Godzilla x Kong: The New Empire ” roared to an $80 million opening on 3,861...
Read more »
Godzilla x Kong: The New Empire roars to an US$80-million box office openingThe monster mash-up from Warner Bros. and Legendary Pictures starring Rebecca Hall and Brian Tyree Henry brought the second-highest opening in what has been a robust year
Read more »