FRONT doubles its value in 24 hours

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

As of Wednesday, February 17, 2021, DeFi Pulse data shows the total amount of locked assets in the decentralized financial ecosystem. 38.72 billion dollars show in the form.

According to CoinGecko data, the total market value of DeFi protocols is 76.09 billion dollars calculated as.

Total assets (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
Frontier (FRONT) 2,53$ 108,1% 126,2% 60.294.382$
Trustswap (SWAP) 1,53$ 20,5% 12,8% 98.787.798$
PancakeSwap (CAKE) 7,75$ 14,2% 33,7% 873.215.630$
Polkastarter (POLS) 6,57$ 6,7% 163,6% 372.296.928$
Earth (MOON) 5,95$ 5,6% -8,8% 2.682.051.738$

DeFi protocols gaining the most value in 24 hours. Source: CoinGecko (Wednesday, February 17, 2021)

The most appreciated DeFi protocol in the last 24 hours as of Wednesday morning, February 17, 2021 108.1 percent with Frontier (FRONT) happened. The total market value of the protocol $ 60,294,382 while reaching 1 Frontier (FRONT) from $ 2.53 started to change hands.

The second most valuable protocol in 24 hours is 20.5 percent with increase 1,53 was recorded as. Trustswap (SWAP) from $ 1.53 trading. 14.2 percent rising rate PancakeSwap (CAKE) protocol $ 7.75 level.

According to the shared data, 6.7 percent rising Polkastarter (POLS) 6,57 dolar and immediately after 5.6 percent growing Earth (MOON) If protocol $ 5.95 trading on.

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

Token Name Price 24s 7g Market value
NFTX (NFTX) 331,66$ -27,1% 85,9% 137.459.344$
Meta (MTA) 2,98$ -25,5% -31,1% 54.154.674$
Bondly (BONDLY) 0,591344$ -21,3% 41,6% 61.487.321$
Rari Governance Token (RGT) 9,16$ -21,0% 7,2% 78.448.365$
APY.Finance (APY) 3,90$ -21,0% 288,0% 74.648.716$

DeFi protocols that lost the most in 24 hours. Source: CoinGecko (Wednesday, February 17, 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 $ 137,459,344 calculated as and 27.1 percent declining by NFTX (NFTX) protocol $ 331.66 is traded as.

25.5 percent falling by Meta (MTA) from $ 2.98 while processing, 21.3 percent depreciating Bondly (BONDLY) if $ 0.591344 level.

Also in the data, 21.0 percent falling Rari Governance Token (RGT) protocol From $ 9.16 while changing hands 21.0 percent declining by APY.Finance (APY) $ 3.90 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 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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