DeFi market reaches $ 53 billion

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

As of Tuesday, February 2, 2021, DeFi Pulse data shows the total amount of locked assets in the decentralized finance ecosystem. 27.56 billion dollars show in the form.

According to CoinGecko data, the total market value of DeFi protocols is 52.99 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
IDEX (IDEX) 0,084922$ 55,8% 72,1% 47.803.979$
Harvest Finance (FARM) 292,49$ 41,1% 142,6% 129.126.750$
Band Protocol (BAND) 12,36$ 35,9% 36,7% 279.168.609$
Sushi (SUSHI) 13,57$ 34,6% 74,7% 1.726.120.759$
Earth (MOON) 1,97$ 33,8% 126,3% 954.965.423$

DeFi protocols gaining the most value in 24 hours. Source: CoinGecko (Tuesday, February 2, 2021)

The most appreciated DeFi protocol in the last 24 hours as of Tuesday morning, February 2, 2021 55.8 percent with IDEX (IDEX) happened. The total market value of the protocol $ 47,803,979 while reaching 1 IDEX from $ 0.084922 started to change hands.

The second most valuable protocol in 24 hours is 41.1 percent with increase 292,49 was recorded as. Harvest Finance (FARM) from $ 292.49 trading. 35.9 percent rising rate Band Protocol (BAND) protocol $ 12.36 level.

According to the shared data, 34.6 percent rising Sushi (SUSHI) 13,57 dolar and immediately after 33.8 percent growing Earth (MOON) If protocol $ 1.97 trading on.

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

Token Name Price 24s 7g Market value
The Graph (GRT) 0,738441$ -12,6% 38,4% 896.919.688$
DODO (DODO) 1,54$ -12,5% 121,2% 50.637.448$
Keep3rV1 (KP3R) 359,02$ -8,4% 24,0% 73.736.218$
DriftDAO (DDX) 7,04$ -5,0% -24,9% 183.740.272$
Rocket Pool (RPL) 4,08$ -5,0% 9,7% 68.335.631$

DeFi protocols that lost the most value in 24 hours. Source: CoinGecko (Tuesday, February 2, 2021)

According to shared data, when we look at the declining names of the decentralized finance (DeFi) sector within 24 hours, the total market value $ 896,919,688 calculated as and 12.6 percent declining by The Graph (GRT) protocol 0.738441 dollars is traded as.

12.5 percent falling by DODO (DODO) from $ 1.54 while processing, 8.4 percent depreciating Keep3rV1 (KP3R) if $ 359.02 level.

Also in the data, 5.0 percent falling DriftDAO (DDX) protocol From $ 7.04 while changing hands 5.0 percent declining by Rocket Pool (RPL) 4,08 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 anyone 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 fulfilled,”

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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