DeFi industry ups & downs – WEX increased 5 times in one week

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

As of Monday, May 10, 2021, DeFi Pulse data shows the total amount of locked assets in the decentralized financial ecosystem. 86.53 billion dollars show in the form.

According to CoinGecko data, the total market value of DeFi protocols is 147.19 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
WaultSwap (WEX) 0,375655$ 61,7% 431,7% 311.838.157$
Tellor (TRB) 150,88$ 17,4% 57,2% 249.420.111$
DEA (DEA) 986,35$ 20,7% 99,7% 101.683.826$
Anyswap (ANY) 9,50$ 18,1% 31,8% 165.191.421$
Venus (XVS) 143,21$ 12,4% 14,9% 1.399.612.810$

DeFi protocols gaining the most value in 24 hours. Source: CoinGecko (Monday, May 10, 2021)

The most appreciated DeFi protocol in the last 24 hours as of Monday morning, May 10, 2021 61.7 percent with WaultSwap (WEX) happened. The total market value of the protocol $ 311,838,157 while reaching 1 WaultSwap (WEX) from $ 0.375655 started to change hands.

The second most valuable protocol in 24 hours is 17.4 percent with increase Tellor (TRB) recorded as. Tellor (TRB) from $ 150.88 trading. 20.7 percent rising in the rate of DEA (DEA) protocol $ 986.35 level.

According to the shared data, 18.1 percent rising in the rate of Anyswap (ANY) 9,50 dolar and immediately after 12.4 percent growing Venus (XVS) If protocol $ 143.21 trading on.

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

Token Name Price 24s 7g Market value
pNetwork (PNT) 2,37$ -8,6% 25,1% 100.832.940$
Alpaca Finance (ALPACA) 2,63$ -7,0% -18,0% 189.175.167$
Ampleforth (AMPL) 1,24$ -4,8% 14,8% 520.600.251$
Polkastarter (POLS) 3,29$ -6,0% -9,7% 219.175.943$
Bounce (AUCTION) 43,20$ -5,7% -19,7% 130.108.881$

DeFi protocols that lost the most value in 24 hours. Source: CoinGecko (Monday, May 10, 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 $ 100,832,940 calculated as and 8.6 percent declining by pNetwork (PNT) protocol $ 2.37 is traded as.

7.0 percent falling at the rate of Alpaca Finance (ALPACA) from $ 2.63 while processing, 4.8 percent depreciating Ampleforth (AMPL) if $ 1.24 level.

Also in the data, 6.0 percent falling Polkastarter (POLS) protocol From $ 3.29 while changing hands 5.7 percent declining by Bounce (AUCTION) 43,20 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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