The rise and growth of the value of closed funds “TVL” in the decentralized finance market to new records…Details here
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Answer The rise and growth of the value of closed funds “TVL” in the decentralized finance market to new records…Details here
The decentralized finance (DeFi) sector has seen tremendous growth this year.
Several DeFi cryptocurrencies have already surged, many reaching all-time highs and looking strong to continue rising.
According to the data collector “Pulse Challenge” The total market capitalization (TVL) in the decentralized finance market has exceeded $82 billion, with AAVE as the dominant lead project with 15.78% and $14.98 billion in TVL.
Some of the factors that have contributed to the bullish state of DeFi coins include the rise in total locking value, the increase in trading volume on decentralized exchanges, and the increase in new users in the DeFi system.
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Total closed value touches all-time highs:
The data from “DeFi Pulse” highlights that the total value locked across all DeFi protocols is a small distance from reaching an all-time high of $87 billion.
Among the top 5 projects present in the Locked Value ranking in the DeFi arena, we find:
- Aave worth $14.98 billion.
- InstaDApp worth $11.47 billion.
- Curve Finance worth $11.07 billion.
- Compound worth $10.07 billion.
- and Maker at $8.72 billion.
All of these projects combined give a total of $56 billion or about 65% of the total closed value.
Analysts expect TVL to be one of the best metrics for analyzing DeFi ecosystem sentiment and growth.
Increasing number of new users in the decentralized finance market:
One important indicator that suggests that cryptocurrencies and projects for decentralized finance will rise exponentially is the ever-increasing number of users entering the DeFi space.
Data from Dune Analytics reveals that the number of new users according to unique addresses interacting with DeFi protocols has risen dramatically and is now a record 3 million users.
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The DeFi space has skyrocketed this year.
TVL’s locked-in value in decentralized finance projects reached $13.69 billion in November 2020, then increased to $20 billion in December 2020 and currently stands at $83 billion today.
Matthew Roszak, a veteran crypto investor and co-founder of the Vesper project, believes that the DeFi industry is poised to explode tenfold.
In an interview with Market Insider, Matthew indicated that TVL’s closed value will reach $800 billion in 2022.
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