Lynn Johannson, Advisor, Sustainability and ESG
January 4th, 2024
Lynn Johannson, President of E2 Management Corporation and Catalyst for THE Collaboration
In a care[...]
DeFi Market Cap Reaches $45 Billion as Token Prices Shoot Up
Decrypt | Liam Frost | Jan 25, 2021
Decentralized finance tokens have been growing rapidly and now make up 4.6% of the $1 trillion crypto market.
In brief
- The market cap of decentralized finance (DeFi) tokens has exceeded $45 billion.
- Some DeFi tokens grew by 50–100% or more over the past week.
- Even most cautious crypto enthusiasts say there is still a lot of room to grow left for DeFi.
The total market capitalization of all decentralized finance (DeFi) tokens has exceeded $45 billion today, according to crypto metrics platform CoinGecko.
Market capitalization is an asset’s current price multiplied by its total supply—a metric that lets you compare multiple coins that have wildly varying supplies. In other words, this means that all DeFi-specific tokens combined are worth over $45.5 billion at press time.
“DeFi total market cap. 2020 was at $2 billion. 2021 now at $43 billion,” CoinGecko tweeted yesterday.
Evidently, the DeFi ecosystem grew by another $2 billion in terms of its market cap since then—in just one day. During the same period, the total daily trading volume of DeFi tokens exceeded $12 billion.
Over the past week, for example, many DeFi tokens have seen significant price surges, thus contributing to the total market cap’s growth. Out of the top 10 assets, Uniswap (UNI) and AAVE showed the most notable results, both increasing in price by roughly 40% in the last seven days, according to CoinGecko. Other coins rose even faster, with DODO and Alpha Finance each doubling in the last seven days.
However, considering DeFi’s somewhat chaotic nature (and the tendency to get hacked regularly), some users are skeptical toward the ecosystem—but even they acknowledge that there is still a lot of room for this “bubble” to grow.
Continue to the full article --> here
See:
All-In on DeFi: Why the Days of Centralized Exchanges Are Numbered
Intro to yield farming and the latest developments in DeFi
FFCON20 Week 6 Wrap-Up: Currency Wars, Digital Assets, & The Rise of DeFi
Interested in a High Interest Bitcoin Saving’s Account? Interview with Ledn CEO, Adam Reeds
Lock BTC, Get DAI: Lending Firm Bridges Bitcoin-DeFi Divide in Latin America
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
 |  |  |
Support NCFA by Following us on Twitter!Follow @NCFACanada  |
Related Posts
Canada’s Open Banking Journey: Interview with EY’s Dr. Francesco Pisani and Dr. Alexander Christoph- Hester Peirce: Nothing but Crickets at the SEC
- Wealthsimple to expand into crypto trading
- Applications of a world-first Blockchain Excise Platform in the Canadian Market
- Intro to yield farming and the latest developments in DeFi
- A Guide to Building an Audience for Crowdfunding
Leave a Reply