According to data from data source DeFi Llama, the value locked in decentralized finance (DeFi) protocols approached $ 79 billion.
The value locked in DeFi reached nearly twice the market cap of Binance Coin, the third-largest crypto asset, and about a third of Ethereum’s market cap.
There are apparently only a few platforms behind the increase in this value last week. Only three of the 10 largest protocols in the industry grew in the past week.
Decentralized applications based on Binance Smart Chain continue to lead the growth of the industry. The value locked in at PancakeSwap has grown by about 29 percent over the past week to $ 1.3 billion. The newly launched stablecoin exchange Ellipsis Finance also attracted great attention, attracting $ 1.9 billion in capital less than a week after its launch, ranking 13th among the largest protocols.
Some Ethereum-based projects have also seen significant growth. Ranked 11th among the largest protocols, Instadapp’s locked-in value doubled to $ 1.05 billion. The value locked down at Yearn Finance, which was ranked 14th, also rose to double the $ 850 million. The value locked down at Vesper Finance, ranked 18th, exceeded $ 1 billion, an increase of 84 percent within six weeks of launch.
The value locked in DeFi protocols has increased by an average of 10 percent in the past seven days, while DeFi assets have lost an average of 1 percent in the past week, according to data from crypto analytics provider Messari.