Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => DeFi tokens => Topic started by: RSRS on July 06, 2021, 02:18:05 PM
-
Decentralized finance (DeFi) tokens are leading today’s market push which has increased total cryptocurrency market capitalization to over $1.5 trillion once again.
Crypto markets are starting to show signs of recovery today as the total capitalization gains 2%, or $70 billion, over the past 24 hours.
DeFi related assets are leading the charge with some surging double figures after the past eight weeks of mostly bearish trading.
CoinGecko’s top-100 DeFi tokens by market cap index reports a market cap of $79 billion which represents around 5.3% of the total. This has increased by almost 7% over the past 24 hours suggesting DeFi tokens are in the lead today.
DeFi market cap 7-day chart by Coingecko
Top performers and TVL
The top-performing DeFi asset in that list is Instadapp’s newly launched governance token INST. The token has surged a whopping 62% over the past 24 hours to reach $5.22.
The Alpha Finance ALPHA token has pumped 50% on the day to reach $0.758. Meanwhile, Enzyme Finance’s MLN token takes third place with a 38% surge following a Yearn Finance partnership and Binance listing.
Other DeFi tokens performing strongly today from that list include Synthetix (SNX), Aave (AAVE), Linear (LINA), Perpetual Protocol (PERP), and Compound Finance’s COMP.
In terms of total value locked (TVL), DappRadar is reporting a total of $81 billion across all platforms listed. DeFiLlama, which lists a lot more, puts the total TVL at $112 billion.
The leading protocol at the time in terms of TVL is Aave with around $8.7 billion locked up. Uniswap is a close second with $8.4 billion in collateral lockup while Curve Finance comes in third with $7.3 billion according to DappRadar.
The total amount locked into Binance Smart Chain-based projects is $18.9 billion according to BSCproject. The PancakeSwap DEX leads the pile here with a TVL of $7.5 billion.
All TVL figures are down between 20-30% from their mid-May peaks, but they have been making solid gains over the past week or two.
Bloomberg DeFi index
In a related development, a new DeFi Index has been spied on the Bloomberg Terminal. Screenshots were posted by Bloomberg TV’s Joe Weisenthal on July 6.
The index is sourced from the MVIS CryptoCompare DeFi 20 Index which includes the top-20 assets in the sector, accordingly weighted.
DeFiPulse has its own index called the DPI, which was trading up 15% on the day, and IndexCoop launched a Metaverse Index for NFTs in April.
Sourch (https://cryptonews.net/en/news/defi/977265/)
-
Decentralized finance (DeFi) tokens including Synthetix Network the rebound, Compound (COMP) and SushiSwap (SUSHI) are having a field day in terms of daily gains, leaving the rest of the crypto market in the dust.
The rebound, the native token of liquid synthetic assets platform Synthetix, is leading today’s DeFi gains parade so far.
-
Decentralized finance (DeFi) protocol Aave has seen its price surge by double digits following the announcement that its Aave Pro platform will launch later this month.
Aave Pro, a permissioned version of its platform geared towards institutional investors, was first revealed
-
Defi platform geared towards institutional investors, was first revealed during a webinar last week.
Attendees of the Next Steps in Institutional DeFi webinar reportedly received a follow-up email with additional information on Aave Pro.