Analyst highlights 3 macro metrics that clearly show DeFi sector growth
Taking a bird’s-eye-view of the DeFi sector shows that even though asset prices are down, the ecosystem continues to rapidly expand. Decentralized finance (DeFi) has been one of the hardest-hit sectors since Bitcoin (BTC) price corrected from its all-time high in early May and this can be seen by the decline in the total value locked (TVL) on all protocols. According to data from DeFi Llama, the total value locked in decentralized finance platforms dropped from $154 billion and currently sits at $108.7 billion.Total value locked on all DeFi protocols. Source: Defi LlamaWhile the roughly....
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The pullback in the value of Yearn.finance and Aave signals that the DeFi market may be oversold but increasing revenues of the top projects suggests otherwise. Over the last month the crypto market has seen a significant amount of volatility as a 6-month altcoin bull market abruptly came to an end with the most recent Bitcoin (BTC) price rejection at $12,000.At the same time, the DeFi sector saw an amazing run as the total value locked in DeFi platforms surged above $10 billion but at the time of writing the sector is in the midst of a mild correction.DeFi index daily, weekly, monthly....
Nansen, a cryptocurrency and blockchain statistics and analytics platform, has issued a report on the growth of decentralized finance (defi) in 2021. The document highlights how defi managed to keep growing, opening the field to new participant chains. Non-fungible tokens (NFTs) also had a notable year, with many new wallets experiencing growth as a result.
Nansen Puts 2021 in Review
Nansen, a blockchain analytics firm backed by Coinbase Ventures and a16z, has presented a report about the behavior and growth that decentralized finance and NFTs experienced in the last year. The....
The $4 billion gap between the current decentralized finance TVL and an ATH could be closed using recent implementations from AAVE, Curve and Spell Token. As 2022 gets underway, the decentralized finance (DeFi) sector of the cryptocurrency ecosystem appears to be gaining momentum in what could be an echo of the bullish market seen in seen in early 2021. Data from crypto market intelligence firm Messari shows that over the past 30 days, five out of the top 10 DeFi protocols have seen their tokens post double-digit gains. This is in spite of the struggles that Bitcoin has faced, a dynamic....
DeFi platforms have seen a steady surge in user activity and token prices, leading some analysts to say that the ‘DeFi Summer 2.0’ is well underway. After a blistering start to 2021 saw token valuations and trading volumes surge to ignite the current bull market, the DeFi sector as a whole took a break while the NFT sector stepped into the limelight. While investors' attention was elsewhere, DeFi prices have had time to consolidate and project developers were able to focus on protocol upgrades and in the past month, DeFi-related tokens have been gaining traction and look poised for a....
Bitcoin fast approaching towards a critical intersection of macro support, according to a crypto analyst. Critical Intersection Of Macro Support As pointed out by a Bitcoin analyst on Twitter, the cryptocurrency is coming closer to an intersection with a macro support curve. BTC macro support curve | Source: TheCryptoCactus The above chart showcases how Bitcoin […]