DeFi not slowing down: RGT increased by 72% in 24 hours

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

As of Wednesday, March 3, 2021, DeFi Pulse data shows the total amount of locked assets in the decentralized financial ecosystem. 39.62 billion dollars show in the form.

According to CoinGecko data, the total market value of DeFi protocols is 74.70 billion dollars calculated as.

Total asset (USD) locked on DeFi. Source: DeFi Pulse

TOP 5 – The most profitable DeFi protocols in 24 hours

Token Name Price 24s 7g Market value
Rari Governance Token (RGT) 14,79$ 72,9% 42,9% 113.972.447$
saffron.finance (SFI) 2.514,68$ 24,5% 21,0% 190.410.812$
cBAT (CBAT) 0,01414919$ 21,6% 46,2% 92.472.273$
Nest Protocol (NEST) 0,03667637$ 18,0% -9,6% 71.792.639$
Trustswap (SWAP) 4,50$ 17,2% 58,2% 290.707.820$

DeFi protocols gaining the most value in 24 hours. Source: CoinGecko (Wednesday, March 3, 2021)

The most appreciated DeFi protocol in the last 24 hours as of Wednesday morning, March 3, 2021 72.9 percent with Rari Governance Token (RGT) happened. The total market value of the protocol $ 113,972,447 while reaching 1 Rari Governance Token (RGT) at $ 14.79 started to change hands.

The second most valuable protocol in 24 hours is 24.5 percent with increase 2.514,68 recorded as. saffron.finance (SFI) from $ 2,514.68 trading. 21.6 percent rising in the rate of cBAT (CBAT) protocol 0.01414919 dollars level.

According to the shared data, 18.0 percent rising in the rate of Nest Protocol (NEST) 0,03667637 dolar and immediately after 17.2 percent growing Trustswap (SWAP) If protocol $ 4.50 trading on.

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

Token Name Price 24s 7g Market value
Unit Protocol New (DUCK) 0,303025$ -16,6% 17,7% 77.773.386$
Auto (AUTO) 4.011,78$ -13,1% -34,3% 54.619.408$
Badger DAO (BADGER) 56,62$ -11,9% 32,1% 383.762.483$
xDAI Stake (STAKE) 24,35$ -10,5% -17,0% 99.520.092$
Linear (LINA) 0,077065$ -9,2% 26,8% 95.604.743$

DeFi protocols that lost the most value in 24 hours. Source: CoinGecko (Wednesday, March 3, 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 $ 77,773,386 calculated as and 16.6 percent declining by Unit Protocol New (DUCK) protocol $ 0.303025 is traded as.

13.1 percent falling at the rate of Auto (AUTO) from $ 4,011.78 while processing, 11.9 percent depreciating Badger DAO (BADGER) if $ 56.62 level.

Also in the data, 10.5 percent falling xDAI Stake (STAKE) protocol From $ 24.35 while changing hands 9.2 percent declining by Linear (LINA) 0,077065 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 DeFi structures, besides providing decentralized financial services, it is also aimed to provide trust to the 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 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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