The total value of assets blocked in the DeFi-segment has again renewed a record high.
The DeFi Industry May Be Preparing To Launch Bullish Phase 2.
The dynamics of DeFi-tokens is still controversial.
International consortium of news organizations developing transparency standards.
The total value of assets blocked in the DeFi segment again hits a record high after a year-on-year gain of nearly 2000%.
Massive interest in the decentralized finance (DeFi) industry persists despite the recent 6-week correction hitting almost all tokens in this segment. This week, the total dollar value of all assets locked in DeFi protocols (TVL) once again hit all-time highs.
According to DeFi, Decentralized Finance (DeFi) is a blockchain-based financial service that offers users access to an open, efficient and … More Pulse TVL has surged to a record $ 12.3 billion. 12 months, its growth was almost 2000%.
Around this time last year #DeFi was catapulting past $ 500M towards $ 1B … now that looks so insignificant on this chart. https://t.co/zqMQAHgdAG pic.twitter.com/d3WMzVaHGR
– DeFi Pulse (@defipulse) October 23, 2020
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“More than alive”
According to some market participants, the aggressive increase in dollar volumes of blocked assets in the segment of assets, observed in recent days, could be associated with the positive dynamics of prices for Ethereum. It is common knowledge that most DeFi protocols and pools are based on ETH.
According to Coingecko, the market capitalization of all DeFi-related tokens has grown by billion in the last couple of days, which could indicate that they are ready to resume the rally..
DTC Capital CEO Spencer Noon called this a possible “Bullish Phase 2” that could surpass the summer rally. He noted in his Twitter post that despite a difficult month that deprived most tokens of 50 +% of their value, the DeFi industry continues to record records in a number of parameters, including TVL.
Despite a month that saw most tokens fall 50% or more, #DeFi is * still * at ATHs with its most important indicators:
– TVL: $ 12.41B
– ERC20 Stablecoins: $ 14B
DeFi Hacked AGAIN! Ethereum Smashes $1,700! What’s Next!?
Don’t listen to the degens who burned out. Phase 2 of this #DeFi bull market will make this summer look like nothing.
– Spencer Noon (@spencernoon) October 22, 2020
DEFI EXPLOSION IS REAL AND ITS GOING TO GET BIGGER (BITCOIN HOLDERS PAY ATTENTION)!!!
Noon also suggested that the US presidential election could be a turning point for DeFi farmers. In the meantime, in anticipation of their outcome, farmers could lock in astronomical profits from the third quarter and temporarily return to bitcoin, which is considered a more stable coin compared to DeFi..
So far, the situation in the sector remains ambiguous. Uniswap remains the undisputed leader in it. DeFi Pulse has a 21% DeFi market share and a $ 2.6 billion TVL.
Let’s remind, however, that, as the BeInCrypto editorial staff said earlier, the TVL indicator may actually be an unreliable benchmark. In this case, the crypto community significantly overestimates the scale of the boom in the DeFi ecosystem..
Meanwhile, many DeFi tokens, which have suffered heavy losses over the past couple of months, are beginning to feel tentatively at the bottom, but most are still trading at a huge distance from their historic highs..
So, token As the use of cryptocurrencies grows, new types of tokens appear. They can represent value or something intangible like voices. Two … More of the Yearn Finance project YFI has strengthened by about 8% over the past 24 hours, approaching the $ 15,000 mark, while Aave has grown intraday by 6.5%, reaching $ 41.50 at the moment. Meanwhile, the same cannot be said about the dynamics of Curve and Sushi now. They continue to decline, sagging from historic highs by 90 +%.
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