DeFi token IETH skyrocketed as crypto market receded

We share daily data of the decentralized finance (DeFi) ecosystem with you.

As of Friday, January 22, 2021, DeFi Pulse data reflects the total amount of locked assets in the decentralized finance ecosystem. 21.80 billion dollars show in the form.

According to CoinGecko data, the total market value of DeFi protocols is 31.50 billion dollars calculated as.

The total amount (USD) locked on DeFi. Source: DeFi Pulse

TOP 5 – The most profitable DeFi protocols in 24 hours

Token Name Price 24s 7g Market value
iETH (IETH) 769,73$ 26,6% 5,5% 31.984.098$
Curve DAO Token (CRV) 1,74$ 16,0% 122,1% 339.953.652$
Bella Protocol (BEL) 1,47$ 14,3% 50,7% 32.938.017$
DODO (DODO) 0,517617$ 13,1% 62,8% 15.518.261$
Kyber Network (KNC) 1,32$ 8,1% 23,2% 264.905.462$

DeFi protocols gaining the most value in 24 hours. Source: CoinGecko (Friday, January 22, 2021)

The most appreciated DeFi protocol in the last 24 hours as of Friday morning, January 22, 2021 26.6 percent with iETH (IETH) happened. The total market value of the protocol $ 31,984,098 while reaching 1 iETH (IETH) 769,73 dollars started to change hands.

The second most valuable protocol in 24 hours is 16.0 percent with increase 1,74 was recorded as. Curve DAO Token (CRV) at $ 1.74 trading. 14.3 percent rising rate Bella Protocol (BEL) protocol $ 1.47 level.

According to the shared data, 13.1 percent rising DODO (DODO) 0,517617 dolar and immediately after 8.1 percent growing Kyber Network (KNC) If protocol $ 1.32 trading on.

TOP 5 – DeFi protocols that lost the most in 24 hours

Token Name Price 24s 7g Market value
Frax Share (FXS) 11,48$ -31,4% -30,0% 24.661.091$
Index Cooperative (INDEX) 6,90$ -22,5% -1,6% 8.564.418$
BoringDAO (BOR) 371,28$ -21,1% 3,9% 20.391.744$
Empty Set Dollar (ESD) 0,397718$ -19,8% -34,5% 188.404.593$
Badger DAO (BADGER) 11,48$ -17,3% 5,2% 27.084.389$

DeFi protocols that lost the most in 24 hours. Source: CoinGecko (Friday, January 22, 2021)

According to the data shared, when we look at the declining names of the decentralized finance (DeFi) sector within 24 hours, the total market value $ 24,661,091 calculated as and 31.4 percent declining by Frax Share (FXS) protocol $ 11.48 is traded as.

22.5 percent falling by Index Cooperative (INDEX) 6,90 dolardan while processing, 21.1 percent depreciating BoringDAO (BOR) if $ 371.28 level.

Also in the data, 19.8 percent falling Empty Set Dollar (ESD) protocol From $ 0.397718 while changing hands 17.3 percent declining by Badger DAO (BADGER) 11,48 dolar was traded as.

What is decentralized finance (DeFi)?

DeFi, which is an abbreviation of the words Decentralized and Finance (Finance), is a financial structure that does not need any center or authority. DeFi, which is basically built on blockchain networks, is among the most important developments for the creation of next-generation digital money infrastructures.

In addition to providing decentralized financial services, DeFi structures also aim to provide trust to participants. Because the absence of anybody in the management means preventing abuses.

Smart contracts, consensus protocols and decentralized applications (Decentralized Application – DApp) are among the important parts of decentralized finance structures, based on the logic of “If this condition is met, the following transaction will take place”.

For detailed information: What is DeFi? What Does Decentralized Finance Mean?

The opinions and comments expressed here are only to the author belongs. It may not reflect Cointelegraph’s views. Every investment and trading move involves risk. When making your decision, you should do your own research.

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