Huge rises in DeFi tokens: 88% increase overnight!

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

As of Wednesday, January 27, 2021, DeFi Pulse data shows the total amount of locked assets in the decentralized finance ecosystem. 25.64 billion dollars show in the form.

According to CoinGecko data, the total market value of DeFi protocols is 44.70 billion dollars calculated as.

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
Bounce (BOT) 1.013,02$ 87,9% 113,4% 29.014.388$
Alpha Finance (ALPHA) 1,39$ 35,9% 139,2% 246.524.857$
Earth (MOON) 1,20$ 32,7% 32,1% 581.301.073$
BoringDAO (BOR) 502,57$ 30,1% 3,5% 27.029.617$
Mirror Protocol (MIR) 3,30$ 27,0% 72,3% 88.335.245$

DeFi protocols gaining the most value in 24 hours. Source: CoinGecko (Wednesday, January 27, 2021)

The most appreciated DeFi protocol in the last 24 hours as of Wednesday morning, January 27, 2021 87.9 percent with Bounce (BOT) happened. The total market value of the protocol $ 29,014,388 while reaching 1 Bounce (BOT) from $ 1,013.02 started to change hands.

The second most valuable protocol in 24 hours is 35.9 percent with increase 1,39 was recorded as. Alpha Finance (ALPHA) from $ 1.39 trading. 32.7 percent rising by Earth (MOON) protocol $ 1.20 level.

According to the shared data, 30.1 percent rising BoringDAO (BOR) $ 502.57 and immediately after 27.0 percent growing Mirror Protocol (MIR) If protocol $ 3.30 trading on.

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

Token Name Price 24s 7g Market value
Venus (XVS) 8,81$ -22,7% 94,2% 37.420.776$
bZx Protocol (BZRX) 0,316431$ -17,1% 14,0% 44.537.496$
Perpetual Protocol (PERP) 5,66$ -9,7% 16,0% 115.817.602$
Wrapped NXM (WNXM) 43,04$ -8,2% -3,5% 74.217.160$
GoalkeeperDAO (SMOKE) 343,20$ -7,8% 1,0% 110.321.643$

DeFi protocols that lost the most in 24 hours. Source: CoinGecko (Wednesday, January 27, 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 $ 37,420,776 calculated as and 22.7 percent declining by Venus (XVS) protocol $ 8.81 is traded as.

17.1 percent falling by bZx Protocol (BZRX) from $ 0.316431 while processing, 9.7 percent depreciating Perpetual Protocol (PERP) if $ 5.66 level.

Also in the data, 8.2 percent falling Wrapped NXM (WNXM) protocol From $ 43.04 while changing hands 7.8 percent declining by KeeperDAO (ROOK) $ 343.20 was traded as.

What is decentralized finance (DeFi)?

DeFi, which is the 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 administration 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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