Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
No Result
View All Result
Nairametrics
No Result
View All Result
Home Markets Cryptos

Decentralized finance TVL hits $233 million, sets new record

Ajibola AkamobyAjibola Akamo
1 year ago
in Cryptos
Share on FacebookShare on TwitterShare on Linkedin

DeFi Total Value Locked (TVL), which is a metric to gauge the overall DeFi market, hit a new All-Time High (ATH) alongside Bitcoin yesterday, as it traded a high of $233 million.

Data from DeFi Llama, a DeFi monitoring tool that collects data from DeFi protocols across all major blockchain networks, reveals that DeFi TVL hit a new record of $233.88 billion in protocols across the various blockchain networks.

TVL is the sum of all assets deposited in decentralized finance (DeFi) protocols earning rewards, interest, new coins and tokens, fixed income and so on. According to the statistics on DeFi Llama, AAVE leads with $19.04 billion. This is followed by CURVE and WBTC which are both occupying second and third place with $18.07 billion and $14.24 billion respectively.

The biggest gainers in TVL over the past seven days were Trader Joe with a 57.2% increase and Rari Capital which saw a 50.57% surge. Yield Yak also gained 36.52%.

In addition to the rising token values, the DeFi ecosystem also saw a sharp increase in new user inflow and data from Dune Analytics shows that 3,591,876 unique wallets have now interacted with at least one DeFi protocol, an ATH.

Conclusion

Despite the inflow of new users, trading volumes across decentralized exchanges (DEX) have remained below the highs set in May and are currently lower than the activity seen in recent months as well. A reason for this could be the increased focus on BTC over the past couple of months as speculation about when a Bitcoin exchange-traded fund (ETF) would pass and whether or not BTC price will surpass $100,000 by the end of 2021.

With many DeFi protocols launching new pioneer programs such as an NFT marketplace and offering new ways to earn passive income, the trading volumes on DeFi protocols are expected to increase exponentially, especially now that there are talks of a renewed altcoin season in the works as Bitcoin traded a new ATH.

Related

Tags: BitcoinDeFi

Comments 1

  1. Clyde says:
    October 21, 2021 at 9:29 am

    $233 million? Sure it’s not $ 233 billion?

    Reply

Leave a Reply Cancel reply

HFM
Mega Millions
Mega Millions
Patricia





NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • Naira, fuel scarcity: Lagos announces 50% transport fare reduction on BRT buses, LAGRIDE, others, sets up Food bank 
  • Girl Child: Nurturing Our Women, Nigeria’s Own Wealth
  • Nigeria investing heavily in food, packaging and plastics technology

Follow us on social media:

Recent News

Naira, fuel scarcity: Lagos announces 50% transport fare reduction for BRT, LAGRIDE, others, sets up Food bank

Naira, fuel scarcity: Lagos announces 50% transport fare reduction on BRT buses, LAGRIDE, others, sets up Food bank 

February 8, 2023
GIrl child

Girl Child: Nurturing Our Women, Nigeria’s Own Wealth

February 8, 2023
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Lifestyle
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds

© 2023 Nairametrics