DeFi Keeps Surging with Decentralized Finance’s Total Locked in Value at over $9 Billion
Lucas Cacioli Aug 31, 2020 04:30
DeFi's value keeps surging with Decentralized Finance’s locked in value now at over $9 Billion
DeFi's value keeps rising with the latest data showing over $9 billion in locked in value of DeFi projects which continue gaining traction, with several DeFi tokens even outperforming Bitcoin.
Decentralized Finance keep making exponential gains, hitting another major milestone with $9.02 billion locked in value in various DeFi projects.
The largest DeFi project currently is Aave with over 1.7 Billion of total value locked (TVL) surpassing previous leader MakerDao with its TVL of $1.43 billion. Balancer sits at $1.36 billion TVL followed by Curve Finance at $1.26 billion, yearn.finance holds $943.6 million and Synthetix has $857 million total locked in value.
DeFi tokens continue to make waves and yearn.finance’s YFI token has even outperformed Bitcoin—the token price rising over 3,500% in just one month and increasing its maket capitalization to nearly one billion dollars.
Tokens that are leveraged within the DeFi ecosystem and on decentralized exchanges (DEX) have also continued to surge, such as Chainlink’s Link token seeing a meteoric price rise as the DeFi markets expand. Global and recognized exchanges are also now commonly listing the more popular tokens in DeFi.
Major blockchain firms like Algorand and Cardano and Tezos are also preparing to take on the DeFi ecosystem with the recent announcements of new smart contract protocols and the integration of price oracles for transactions on the DEX.
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