Defi

Uniswap

Wrapped Bitcoin

DeFi

Jito

<ul>
 <li>Total commissions of the leading DeFi platforms declined 24.4% in August, down to $288 million.</li>
 <li>This is driven by a shift of traders toward memecoins, affecting the market.</li>
</ul>
In August, the DeFi protocols fee accumulation dropped 24% from July. DeFi protocol’s total amount of fee, excluding the base layers is $288 million. This has recorded the lowest since February. In February, the total was $265.18 million. Uniswap led the list with protocol fees of over $85.44 million. August’s fees were lower than July’s $381.45 million and even lower than March’s $494.14 million.&nbsp;
In August, <a href="https://thenewscrypto.com/lido-dao-ldo-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">Lido</a> topped the list with $76.18 million followed by Uniswap ($49.6 million), Jito ($31.98 million), and PancakeSwap ($27.34 million). Lido has been decreasing from March with $115.28 million in fees. Since then, it has recorded a lower accumulation comparatively. The fees of Lido in the past 24 hours is $1.97M leading the protocol ranking by <a href="https://defillama.com/" target="_blank" rel="noopener noreferrer nofollow">exceeding</a> the other.&nbsp;&nbsp;
Nick Ruck, a well-known market researcher has stated that the lower fees this month are due to the <a href="https://www.theblock.co/data/decentralized-finance/protocol-revenue/defi-protocols-revenues-monthly" target="_blank" rel="noopener noreferrer nofollow">lower</a> return from DeFi protocols. As APRs from liquid restacking tokens have fallen, more traders are moving their money into memecoins, which is affecting the DeFi market.&nbsp;
<h3 class="wp-block-heading" id="h-defi-protocol-threshold-proposes-merger-of-bitcoin-wrappers">Defi Protocol Threshold Proposes Merger of Bitcoin Wrappers</h3>
Threshold, a <a href="https://thenewscrypto.com/bitcoin-price-plunges-to-57k-causing-uncertainty-in-the-market/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> DeFi protocol, has proposed merging its own BTC wrapper token, tBTC, into Wrapped Bitcoin (WBTC) according to a proposal in Threshold’s governance forum. This move aims to protect WBTC amid concerns over an upcoming change in the control of the BTC wrapper.
WBTC, the leading Bitcoin wrapper, boasts a market capitalization of approximately $6 billion. These wrappers are ERC-20 tokens backed by BTC.
Highlighted Crypto News today: <a href="https://thenewscrypto.com/when-will-wazirx-users-be-able-to-access-their-funds/" target="_blank" rel="noopener noreferrer nofollow">When Will WazirX Users Be Able to Access Their Funds?</a>

Defi Protocols Fee Accumulation Drops to Lowest Since February

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