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More than $ 13 billion locked in DeFi protocols. This is a new record
DeFi TVL breaks record to break $ 13 billion
Uniswap became the first protocol with blocked funds above $ 3 billion
Many tokens have shown double-digit growth over the past week
Total capitalization of all protocols in the decentralized finance segment (DeFi) Decentralized finance (DeFi) – this is financial services, technology-based blockchain, which offer users access to open, efficient and … More) reached a record level of $ 13 billion, amid the rapid growth of tokens
The DeFi sector has resumed its rally, according to DeFi Pulse, and the amount of assets held on hold (TVL) has broken a record to surpass the $ 13 billion mark, rising more than $ 2 billion since early November, up a whopping 1800% YTD..
I’m not superstitious but let’s just blow past $ 13B TVL … just in case pic.twitter.com/e1EFiKGjqm
– DeFi Pulse (@defipulse) November 10, 2020
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Uniswap’s total blocked value reaches $ 3 billion
Uniswap became the first DeFi protocol with TVL above $ 3 billion, up 2.5% over the past 24 hours. Cryptocurrency collateral locked in various liquidity pools on decentralized exchanges has grown by about 1,700% over the previous 90 days.
The bulk of this volume was loaded into four Ethereum-based liquidity pools with UNI tokens. About $ 2.36 billion is distributed over these four pools, however, the payment of premiums for the mining of tokens will end on November 17, respectively, after that, most likely, an outflow of liquidity from Uniswap will begin.
Each pool will continue to charge commissions, but UNI tokens will no longer be distributed. It is possible that Uniswap will open up alternative mining and profitability pools to keep the protocol liquid, although so far there have been no official announcements to that effect..
During the day, the UNI price has not changed and it is currently trading at $ 3.05. Starting from a similar point last week, TokenAs the use of cryptocurrencies increases, new types of tokens are emerging. They can represent value or something intangible like voices. Two … More UNI is up nearly 50%, but still more than 50% below its all-time high.
At the moment, it is unlikely that the token will return to these levels anytime soon, especially in the event of a sale after the close of the farming season next week..
Rebirth of DeFi
UNI is not the only DeFi token to have shown positive momentum over the past few days. The DeFi Messari Yield Tracker shows impressive results across the segment:
Yearn (YFI) token became the record holder, which has risen in price by more than 90% in a week, while YAX token jumped 82% in the same period..
Tokens ranging from Curve, Loopring, UMA, Swerve to the hard-hit bZx Network have gained over 30% over the past week. SushiSwap, Yearn, Compound, Balancer, Bancor and Aave are also showing strong growth.
As the recovery continues, the market cap of DeFi tokens is up 30% in seven days, according to Messari..
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