DeFi sector rising & falling: YFII flew – WEX crash

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

As of Tuesday, May 11, 2021, DeFi Pulse data shows the total amount of locked assets in the decentralized financial ecosystem. 80.21 billion dollars show in the form.

According to CoinGecko data, the total market value of DeFi protocols is 135.74 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 (YFII) 3.132,26$ 18,6% 15,6% 123.068.926$ (YFI) 61.268,58$ 9,5% 14,9%$
ONE (ONE) 26,93$ 4,3% 1,0% 1.637.645.647$
DriftDAO (DDX) 6,39$ 2,3% 35,4% 166.852.073$
Compound (COMP) 804,64$ 1,4% -2,8% 4.139.647.033$

DeFi protocols gaining the most value in 24 hours. Source: CoinGecko (Tuesday, May 11, 2021)

The most valued DeFi protocol in the last 24 hours as of Tuesday, May 11, 2021 18.6 percent with (YFII) happened. The total market value of the protocol $ 123,068,926 while reaching 1 (YFII) from $ 3,132.26 started to change hands.

The second most valuable protocol in 24 hours is 9.5 percent with increase (YFI) recorded as. (YFI) from $ 61,268.58 trading. 4.3 percent rising in the rate of ONE (ONE) protocol $ 26.93 level.

According to the shared data, 2.3 percent rising in the rate of DerivaDAO (DDX) $ 6.39 and immediately after 1.4 percent growing Compound (COMP) If protocol $ 804.64 trading on.

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

Token Name Price 24s 7g Market value
WaultSwap (WEX) 0,166470$ -55,4% 98,7% 142.815.013$
Tellor (TRB) 118,78$ -21,7% 20,4% 194.143.479$
Vesper Finance (VSP) 34,11$ -19,2% -7,9% 108.127.715$
Hegic (HEGIC) 0,190336$ -17,5% -7,1% 88.664.120$
Anyswap (ANY) 7,68$ -16,9% -28,3% 132.140.746$

DeFi protocols that lost the most value in 24 hours. Source: CoinGecko (Tuesday, May 11, 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 $ 142,815,013 calculated as and 55.4 percent declining by WaultSwap (WEX) protocol 0.166470 dollars is traded as.

21.7 percent falling at the rate of Tellor (TRB) from $ 118.78 while processing, 19.2 percent depreciating Vesper Finance (VSP) if $ 34.11 level.

Also in the data, 17.5 percent falling Hegic (HEGIC) protocol From $ 0.190336 while changing hands 16.9 percent declining by Anyswap (ANY) 7,68 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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