The DeFi market has risen: 60 billion dollars!

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

As of Thursday, February 4, 2021, DeFi Pulse data shows the total amount of locked assets in the decentralized finance ecosystem. 32.30 billion dollars show in the form.

According to CoinGecko data, the total market value of DeFi protocols is 60.33 billion dollars calculated as.

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

TOP 5 – The most profitable DeFi protocols in 24 hours

Token Name Price 24s 7g Market value
ONE (ONE) 28,84$ 81,2% 189,1% 1.607.590.885$
Wrapped NXM (WNXM) 62,80$ 39,9% 56,2% 106.890.192$
Aave (AAVE) 414,09$ 34,1% 44,1% 5.105.796.560$
Aave [OLD] (LEND) 4,08$ 32,5% 42,7% 287.980.061$
Value Liquidity (VALUE) 5,41$ 27,7% 10,0% 36.966.827$

DeFi protocols gaining the most value in 24 hours. Source: CoinGecko (Thursday, February 4, 2021)

The most appreciated DeFi protocol in the last 24 hours as of Thursday morning, February 4, 2021 81.2 percent with ONE (ONE) happened. The total market value of the protocol $ 1,607,590,885 while reaching 1 ONE (ONE) 28.84 dolardan started to change hands.

The second most valuable protocol in 24 hours is 39.9 percent with increase 62,80 was recorded as. Wrapped NXM (WNXM) 62,80 dolardan trading. 34.1 percent rising by Aave (AAVE) protocol $ 414.09 level.

According to the shared data, 32.5 percent rising Aave [OLD] (LEND) 4,08 dolar and immediately after 27.7 percent growing Value Liquidity (VALUE) If protocol $ 5.41 trading on.

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

Token Name Price 24s 7g Market value
Mirror Protocol (MIR) 5,22$ -8,4% 60,1% 159.049.962$
bZx Protocol (BZRX) 0,375407$ -5,8% 23,7% 52.786.040$
Earth (MOON) 2,14$ -5,8% 90,9% 1.038.802.851$
Hegic (HEGIC) 0,288707$ -4,7% -0,6% 97.335.716$
Reserve Rights Token (RSR) 0,03907550$ -4,0% 20,3% 367.247.213$

DeFi protocols that lost the most in 24 hours. Source: CoinGecko (Thursday, February 4, 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 $ 159,049,962 calculated as and 8.4 percent declining by Mirror Protocol (MIR) protocol $ 5.22 is traded as.

5.8 percent falling by bZx Protocol (BZRX) from $ 0.375407 while processing, 5.8 percent depreciating Earth (MOON) if $ 2.14 level.

Also in the data, 4.7 percent falling Hegic (HEGIC) protocol From $ 0.288707 while changing hands 4.0 percent declining by Reserve Rights Token (RSR) 0,03907550 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 new 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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