August 14, 2023

Defi Crypto Sector’s Value Recorded $45 Billion



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.

Author profile

Whether you want to learn about NFT, Blockchain, Web3.0, Metaverse, or any other emerging technologies, we have the vital resources that will enlighten and help you make an informed decision.