The total blocked value (TVL) in decentralized finance has reached another milestone. On April 13, TVL recorded another all-time record at $54.09 billion. Compund, Maker and Uniswap account for nearly half of TVL According to Defi Pulse data, the three largest protocols account for nearly half of the total. As much as 47.19% of TVL belongs to Compund, Maker and Uniswap - $25.53 billion. The Compound (COMP) protocol running on the Ethereum (ETH) chain peaked at $10.88 billion. Another project is Maker (MKR), also based on Ethereum. The platform has already locked in $8.7 billion. Both protocols belong to the cryptocurrency lending sector. In third place is Uniswap, this time a decentralized exchange (DEX). The total value locked in Uniswap is $5.95 billion. ATH in the DeFi sector reflects the ongoing bull market in global cryptocurrency markets. The total blocked value shows a clear picture of what is happening in the entire digital currency ecosystem. It should be noted that the Ethereum blockchain is mostly the basis of DeFi applications. ETH is used in them as one of the security options. The rise in TLV suggests the growing utility of the ethereum network. A month ago, ethereum blocked in DeFi reached a record high of $16.5 billion. Such a high number represented 8.3% of its supply at the time. Rising TVL, also pushes the value of ETH higher northward. Not coincidentally, the token's price also hit a record high today in correlation with the DeFi sector. DeFi market draws from growing cryptocurrency sector Since the beginning of the year, the cryptocurrency market has surged in value, with DeFi's total blockchain value reaching record after record. The increase in total blocked value is an indicator of the ever-growing world of DeFi. However, fluctuations in asset prices can affect DeFi's TVL because the value depends on the price of Ethereum. The value also indicates that the protocols are serving the purposes for which they were created. However, this does not necessarily mean that new capital and users are entering the DeFi sector. Tags Compound DeFi Maker uni uniswap
No comments:
Post a Comment