New projects introduced on decentralized exchanges (DeFi) seem to have contributed to DeFi. Total miltae locked in the entire industry as an all-time high (ATH) reached $21 billion. Here is the latest situation in decentralized finance.
Many projects developed in DeFi protocols have shown a serious rise recently. The total locked investment in the DeFi industry exceeded $210 billion after Fantom TVL in the DeFi industry grew 140% to $7 billion and AnySwap also grew 114%!
According to CoinGecko data, the total market cap of DeFi protocols is $129.34 billion.
The projects that contributed the most to the money locked in DeFi protocols were Curve, AAVE and MakerDAO, and the total investment provided by these projects is over $43 billion. At the time of breaking news, the industry’s total locked value remains at $210 billion today, down 4%.
The growth of the DeFi protocol has been growing since July and can outperform the Bitcoin and altcoin markets at times. One of the biggest reasons for the popularity of the DeFi protocol is the passive income opportunity offered by the protocol. On the other hand, users can also get stablecoin loans in exchange for the collateral they provide.
A large part of the DeFi protocol is built on Ethereum despite the high transaction fees.