August 14, 2023

Defi Crypto Sector’s Value Recorded $45 Billion

DeFi

DeFi

As of the end of Sunday, the defi token market had reached a value of $45.08 billion, with roughly $1.8 billion traded in the past 24 hours. This indicates a daily increase of 6.17%, and the trading volume has also risen by 6.39%.

This week, Chainlink (LINK) was among the top-performing defi tokens, with its value increasing by 5.14% in just one week. However, other coins like synthetix (SNX) and injective (INJ) experienced a decline in value, dropping by 2.70% and 3.36%, respectively, over the past week.

Over the past week, there have been notable changes in the value of several cryptocurrency tokens. EPS rose by 129%, while RUNE increased by 49.29%. However, XPRT experienced a drop of 12.47%, and MBOX decreased by 10.94%. Following a recent hack, CRV struggled and fell another 4.81% this week. Despite this, defi tokens experienced growth in the past day, and Defi’s total value locked (TVL) reached $41.94 billion on Sunday.

On August 2, the TVL almost dropped below $40 billion, but it remained above this crucial level. Lido Finance has the largest TVL size, with a significant $15.11 billion in its liquid staking protocol, which increased by 2.34% in the past week. Makerdao, Aave, Uniswap, and Tron’s Justlend protocol are ranked based on TVL size after Lido.

According to a recent report, Ethereum is currently in the lead among 202 blockchain platforms with a total value locked (TVL) of $24.38 billion, which accounts for over 58% of the market. Other platforms such as Tron, BSC, Arbitrum, Polygon, Optimism, Avalanche, Mixin, Solana, and Cronos trail behind Ethereum. Tron comes in second place with a TVL of $5.56 billion, giving it a 13.31% market share as of Sunday.

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