{"id":17874,"date":"2024-04-13T08:01:06","date_gmt":"2024-04-13T08:01:06","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=17874"},"modified":"2024-04-13T08:01:06","modified_gmt":"2024-04-13T08:01:06","slug":"solana-based-defi-wars-spark-30-altcoin-price-swings","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/solana-based-defi-wars-spark-30-altcoin-price-swings\/","title":{"rendered":"Solana-Based DeFi Wars Spark 30% Altcoin Price Swings!"},"content":{"rendered":"<p>A clash between Solana-based DeFi protocols MarginFi and Solend has sent shockwaves through the ecosystem, leading to significant power shifts and dramatic price movements.<\/p>\n<p>Investors have withdrawn over $200 million from MarginFi in favor of rival platforms like Solend and Kamino. Solend&#8217;s token airdrop announcement attracted substantial inflows, driving 24-hour trading volume to $17 million. <a href=\"https:\/\/coinengineer.net\/blog\/kamino-finance-airdrop-a-new-era-for-solana-defi-users\/\">Kamino<\/a> witnessed the most significant surge, onboarding $81 million in fresh deposits.<\/p>\n<p>Solend founder 0xRooter accused MarginFi of spreading false narratives and engaging in smear campaigns.<\/p>\n<p>&#8220;Last July, MarginFi attempted to discredit Solend and its peers through backchannels. They spread misinformation and constantly badmouthed Solend to boost their own engagement.&#8221;<\/p>\n<p>Solend&#8217;s native token soared by 30%, climbing from $1.36 to $1.77. However, the rally proved short-lived, with prices quickly retracing back to the $1.36 range.<\/p>\n<p>Despite the recent turmoil, MarginFi remains Solana&#8217;s second-largest DeFi platform.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A clash between Solana-based DeFi protocols MarginFi and Solend has sent shockwaves through the ecosystem, leading to significant power shifts and dramatic price movements. Investors have withdrawn over $200 million from MarginFi in favor of rival platforms like Solend and Kamino. Solend&#8217;s token airdrop announcement attracted substantial inflows, driving 24-hour trading volume to $17 million.<\/p>\n","protected":false},"author":1,"featured_media":13828,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[3112,2891,319,5395],"class_list":["post-17874","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-kamino","tag-marginfi","tag-solana","tag-solend"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Solana-Based DeFi Wars Spark 30% Altcoin Price Swings! - Coin Engineer<\/title>\n<meta name=\"description\" content=\"The conflict between DeFi platforms MarginFi and Solend has led to significant movement within the Solana ecosystem.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/solana-based-defi-wars-spark-30-altcoin-price-swings\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Solana-Based DeFi Wars Spark 30% Altcoin Price Swings! 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