DeFi value locked hits $18B amid Ether rally and SushiSwap gains
DeFi TVL is breaking new highs at $18 billion, but most of it is just the Ether and Bitcoin rally. The total value locked in decentralized finance, a measure that tracks the amount of assets committed to the DeFi ecosystem, has soared to $18 billion according to DeFi Pulse.TVL chart by DeFi PulseWhile the chart may suggest that DeFi adoption is growing, it requires some interpretation to be properly understood. Total value locked is often an imperfect metric in these scenarios. Differences in how it’s counted, protocols adopting measures to artificially boost it or just price rallies of....
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After a rally in long-standing DeFi blue chips, newer tokens have begun to surge. SushiSwap’s SUSHI token is up 30% in the past 24 hours alone, making it the top-performing crypto-asset in the top 100 by market capitalization. This rally comes amid strong technical upgrades for the cryptocurrency, along with positive technical trends. Related Reading: […]
The U.S. dollar value of the cryptocurrency liquidity locked up in decentralized finance is surging, buoyed by big gains for some lesser known projects.
The decentralized finance market cap reached $45 billion as the total value locked in DeFi continues to rise to new highs. The decentralized finance sector continues to charge full steam ahead as multiple tokens notch new all-time highs and the total value locked in DeFi protocols grows with the passing of each week.Data from Messario shows projects like AAVE, Uniswap (UNI), SushiSwap (SUSHI) and Synthetix (SNX) have all rallied by double-digits, creating a positive feedback loop as more users engage with the protocols to yield farm and capitalize on flash loans. DeFi asset performance.....
Interoperability-focused projects that offer cross-chain bridges and lucrative liquidity mining pools are seeing an influx of funds right as DeFi’s TVL hit a new all-time high. Altcoins and DeFi tokens have been on a tear for the last two weeks and as the end of August approaches many projects are seeing their tokens reach for new all-time highs.Data shows that a majority of the top-10 DeFi tokens gained more than 20% in the past 30-days, with projects like Bancor (BNT) and THORChain (RUNE) seeing gains in excess of 115%. Top-10 DeFi assets by price. Source: MessariHere’s a look at some....
While the amount of ETH locked in DeFi protocols is up 75% since the start of 2020, the sum of Ether held on centralized exchanges has fallen by 30% over the same period. Ether is being locked up in decentralized finance contracts at an accelerating rate this year, while the amount held on centralized exchanges continues to fall.On May 7, on-chain analytics provider, Glassnode, shared a chart comparing the number of Ether deposited in Ethereum-based smart contracts to the number of ETH held on centralized exchanges over the past 17 months.Since the start of 2020, the share of supply....