Following a market flash crash on October 11, Perp DEX's holdings plunged from $26 billion to under $14 billion, according to DeFiLlama. Despite the downturn, lending protocols recorded over $20 million in fees on the same day, marking a new single-day record. Additionally, decentralized exchanges (DEXs) saw weekly trading volumes surpass $177 billion, setting a new all-time high. Meanwhile, total borrowing in cross-chain lending protocols fell below $50 billion for the first time since August, and stETH's annual percentage yield (APY) briefly surged above 7%.
Perp DEX Holdings Plummet Amid Market Flash Crash
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