Jamal Al-Farouq On the brink of falling under the $40 billion threshold on August 2, the total value enclosed in decentralized finance (defi) has recovered, climbing to more than $41 billion. The defi cryptocurrency sector has also expanded to $45.08 billion, demonstrating a 6.17% increase within just one day.
Defi Revival: $45 Billion Market Capitalization Reached Despite Varied Performance Among Leading Tokens
By Sunday, August 13, 2023, the defi token market’s valuation stood at $45.08 billion, with about $1.8 billion exchanged in 24 hours. This indicates a daily growth of 6.17%, with the trading volume surging by 6.39%. Among the top ten leading defi tokens, Chainlink (LINK) surfaced as one of the significant gainers this week, its value soaring by 5.14% over seven days. However, cryptocurrencies like synthetix (SNX) and injective (INJ) declined between 2.70% and 3.36% over the past week.
In the last week, ellipsis (EPS) witnessed an impressive ascent of 129%, while thorchain (RUNE) advanced by 49.29%. Conversely, persistence (XPRT) plunged by 12.47%, and mobox (MBOX) faced a decrease of 10.94%. Curve’s CRV token carried on its struggle, dropping another 4.81% following a recent hacking occurrence. Although defi tokens grew in the previous day, defi’s entire value locked (TVL) attained $41.94 billion as of Sunday, August 13.
The TVL nearly stumbled beneath the $40 billion mark on August 2, yet remained over this vital point. Leading the group in TVL size is Lido Finance, proudly displaying an outstanding $15.11 billion in its liquid staking protocol, a growth of 2.34% in the last week. Lido is followed by Makerdao, Aave, Uniswap, and Tron’s Justlend protocol, ranked by TVL size on Sunday.
Among 202 blockchain systems, Ethereum’s TVL reigns supreme, representing over 58% with a substantial $24.38 billion. Tron, BSC, Arbitrum, Polygon, Optimism, Avalanche, Mixin, Solana, and Cronos are subsequent. Tron’s TVL holds a 13.31% market portion, with a total of $5.56 billion as of Sunday morning, 9:30 a.m. Eastern Time.
In conclusion, an astonishing 10.89 million ether is held in 23 unique liquid staking defi protocols related to Ethereum (ETH), amounting to $20.252 billion. This substantial amount within the defi world represents nearly half (48.28%) of the total $41.94 billion locked over the weekend across 202 blockchain platforms.
We invite you to share your insights and viewpoints on the current status of decentralized finance protocols and tokens this month in the comments section below. What’s your take on the present conditions and future prospects?
Table Of Contents
Frequently Asked Questions (FAQs) about fokus keyword: decentralized finance (defi)
What was the total value locked (TVL) in decentralized finance (defi) as of Sunday, August 13, 2023?
The total value locked in decentralized finance (defi) reached $41.94 billion as of Sunday, August 13, 2023.
What was the value of the defi token market on the same date?
On Sunday, August 13, 2023, the defi token market’s valuation was $45.08 billion.
Which defi tokens emerged as top gainers and losers over the past week?
Chainlink (LINK) emerged as one of the top gainers, with its value jumping by 5.14% within a week. Ellipsis (EPS) saw a significant rise of 129%, while thorchain (RUNE) climbed by 49.29%. On the other hand, persistence (XPRT) plummeted by 12.47%, and mobox (MBOX) declined by 10.94%.
How did Curve’s CRV token perform after a recent hacking incident?
Curve’s CRV token continued to struggle after a recent hacking incident, falling by another 4.81% this week.
What percentage of the total value locked in defi is dominated by Ethereum’s TVL?
Ethereum’s TVL dominates by over 58% of the total value locked in defi.
Which platform leads in TVL size, and what is its total value?
Lido Finance leads the pack with TVL size, boasting a significant $15.11 billion in its liquid staking protocol.
More about fokus keyword: decentralized finance (defi)
- Decentralized Finance (DeFi)
- Chainlink Official Website
- MakerDAO
- Aave Protocol
- Uniswap Protocol
- Ethereum Foundation
5 comments
Really impressed with the way defi is going. it’s the future of finance. Have invested in LINK myself, good to see it’s doing well!
is it to late to jump on the defi train?? I feel like I missed the boat, but this resurgence is making me think again!
I love how the article highlights both the winners and losers. It’s a good reminder that investing in defi, like anything else, has its risks and rewards.
can someone explain this whole defi thing to me? I’m kinda new here and not getting all the details.
Ethereum still dominating defi, no suprise there! what’s happening with Curve though, they need to get their act together…