The rapid development of decentralized finance cannot be stopped. After the market for DeFi applications only recently hit the $ 2 billion mark, they now manage more than $ 3 billion USD. This is shown by the data from Defipulse.com
Managed capital in DeFi applications: 50% increase in just two weeks
While the Bitcoin price was able to move up and finally, if only by 2%, it could not be stopped, the hype about decentralized applications continues. As the data from the analysis website Defipulse shows, DeFi applications now manage more than $ 3 billion USD.
The increase from $ 2 billion to $ 3 billion took only two weeks. For comparison: at the beginning of 2020 this figure was around $ 650 million USD. According to Defipulse, the DeFi market took more than 2,5 years to reach a billion USD at all.
The following graphic shows the enormous increase in the past weeks and months
The DeFi Projekt Maker (MKR) is the leader of the DeFi movement. Overall, more than 20% of the investments are managed in the Maker protocol. The MKR protocol cryptocurrency has recently garnered attention when it was listed on Coinbase. The course was canceled due to the announcement of the listing 30% within an hour increase.
In second place is the cryptocurrency compound (COMP), which is considered by many to be the project that started the DeFi era. In third place is Aave, an application for decentralized lending. Fourth and fifth place went to Synthetix and Curve Finance.
Centralized exchanges list DeFi tokens
Investing in DeFi cryptocurrencies is a particular pleasure for investors. Because similar to the time of the ICOs 2017, in which any cryptocurrency was able to record high price increases, most tokens of decentralized applications from the financial sector are currently developing.
But not only decentralized lending is booming, but also decentralized exchanges. Although they will never completely replace their centralized competitors, the development is remarkable and is growing faster than many expected. Centralized exchanges like Kraken still don't want to miss out on business with DeFi. That's why the Bitcoin exchange announced a few days ago that it would list three new tokens from the area of decentralized finance:
Markus from Kryptokumpel.de
Photo credit: pixabay.com | CC0