Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => DeFi tokens => Topic started by: RSRS on July 20, 2021, 07:48:56 AM
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The market cap of decentralized finance (DeFi) has bounced off of a recent low of just under $61 billion and is currently hanging above $70 billion, as per CoinGecko. Though we are nowhere near the all-time high of about $144 billion from mid-May, it is a start. A similar uptick in activity can be seen in the percentage of ETH circulating supply locked in DeFi protocols which have recovered from the June drop. According to IntoTheBlock, currently, 9.33 million ETH (8% of the circulating supply) has been deposited into DeFi applications. Amidst this, total DeFi users over time have now crossed 3 million. The milestone of 2 million unique addresses was broken only less than three months back, and before that, the 1 million level was hit in early December, 11 months after the 100k. However, given that a user can have multiple addresses, these numbers are expected to be overestimated. As per Dune Analytics, the popular DEX Uniswap has the highest number of total users at nearly 2.38 million, followed by Compound’s 325k. 264k users are on 1inch while 191.5k are using SushiSwap with 173k on Balancer, 123k using Kyber Network, MakerDAO’s 73k, and then Aave’s 65k users. In terms of TVL, the total value locked in DeFi is currently at $108 billion, down from the $155 billion peak in mid-May but up from $86.76 billion low the same month. While Ethereum controls roughly 77% of TVL in major platforms, it has recorded a drop of more than 20% compared to a level from five months ago, with BSC emerging as a contender capturing $15 billion TVL. Polygon has also started to chip away at Ethereum’s dominance.
More information (https://cryptonews.net/en/news/defi/1099865/)