DeFi market reaches $ 50 billion

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

As of Monday, February 1, 2021, DeFi Pulse data shows the total amount of locked assets in the decentralized financial ecosystem. 26.57 billion dollars show in the form.

According to CoinGecko data, the total market value of DeFi protocols is 50.62 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
pNetwork (PNT) 1,14$ 121,5% 152,4% 37.556.052$
BoringDAO (BOR) 730,91$ 52,2% 86,9% 41.186.372$
Basis Share (BAS) 90,07$ 45,2% 31,0% 31.581.140$
Polkastarter (POLS) 1,45$ 34,2% 10,1% 80.637.277$
The Graph (GRT) 0,863346$ 31,5% 54,9% 1.024.635.260$

DeFi protocols gaining the most value in 24 hours. Source: CoinGecko (Monday, February 1, 2021)

The most appreciated DeFi protocol in the last 24 hours as of Monday morning, February 1, 2021 121.5 percent with pNetwork (PNT) happened. The total market value of the protocol $ 37,556,052 while reaching 1 pNetwork (PNT) from $ 1.14 started to change hands.

The second most valuable protocol in 24 hours is 52.2 percent with increase 730,91 was recorded as. BoringDAO (BOR) from $ 730.91 trading. 45.2 percent rising rate Basis Share (BAS) protocol $ 90.07 level.

According to the shared data, 34.2 percent rising Polkastarter (POLS) 1,45 dolar and immediately after 31.5 percent growing The Graph (GRT) If protocol $ 0.863346 trading on.

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

Token Name Price 24s 7g Market value
Tokenlon (LON) 7,22$ -18,4% 71,0% 136.246.981$
Empty Set Dollar (ESD) 0,235016$ -15,6% -30,8% 104.233.975$
Loop ring (LRC) 0,483234$ -14,2% 15,7% 603.231.190$
1inch (1INCH) 4,72$ -13,1% 90,8% 454.803.400$
Wrapped NXM (WNXM) 37,51$ -12,2% -24,2% 63.210.687$

DeFi protocols that lost the most value in 24 hours. Source: CoinGecko (Monday, February 1, 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 $ 136,246,981 calculated as and 18.4 percent declining by Tokenlon (LON) protocol $ 7.22 is traded as.

15.6 percent falling by Empty Set Dollar (ESD) 0,235016 dolardan while processing, 14.2 percent depreciating Loop ring (LRC) if 0.483234 dollars level.

Also in the data, 13.1 percent falling 1inch (1INCH) protocol From $ 4.72 while changing hands 12.2 percent declining by Wrapped NXM (WNXM) 37,51 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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