BASED1 slipped roughly

↘2.2%

over the past hour as selling pressure intensified, with more than twice as many people selling as buying over the same period.

Selling pressure dominates

BASED1 dropped roughly

↘2.2%

over the past hour while the number of sellers compared to buyers increased significantly, with approximately 2.1 times more people selling than buying over the same period.

Underperforming DeFi peers

BASED1's roughly

↘2.2%

hourly decline is steeper than the broader DeFi category, which fell about

↘0.87%

over the past hour, and extends a longer trend with the token down roughly

↘22%

over the past month.

Broader DeFi sector facing headwinds

The crypto market is navigating cautiously as DeFi protocols face security concerns

, with recent issues creating a more risk-averse environment for tokens in this category.