• Contact
  • Privacy Policy
  • Advertise With Us
  • Login
  • Register
Your Trading Edge Magazine
Advertisement
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe
No Result
View All Result
Your Trading Edge Magazine
No Result
View All Result

DeFi TVL Smashes Past $236B, Biggest Contributors include Ethereum, Fantom, Solana

October 27, 2021
in Crypto News
Reading Time: 3 mins read
A A
0
DeFi TVL Smashes Past $236B, Biggest Contributors include Ethereum, Fantom, Solana
0
SHARES
5
VIEWS
ShareShareShareShareShare

The Decentralized Finance (DeFi) sector is riding strong in October after a month-long market lull. The latest charts show figures hitting all-time highs with respect to liquidity stored on these protocols.

The total value locked (USD) has established a new peak after soaring above $236 billion on October 26th. According to Defi Llama, the TVL figures have maintained a steady uptrend over the past month. In addition to the broader cryptocurrency realm, DeFi too had a rather rough month as the market fluctuated tremendously. However, the trend changed, and the board looks optimistic.

Total Value Locked in DeFi. Source: Defi Llama

Ethereum Bounces Back

Ethereum (ETH), the decentralized finance hub, came to the rescue as it peaked as well. TVL locked in ETH-based protocols surged past an astonishing $160 billion this week. As a matter of fact, these levels were last seen on September 6th.

Lending and Decentralized Exchanges (DEXs) on the Ethereum network continued to draw intense activity. Notably, even though lending continued to drive more inflows, it was the DEXs that recorded more participation in recent weeks. Hence, the latest boom indicated an increasing level of confidence and interest which could spur higher inflows in the days to come.

Fantom Follows Suit

img2_defi
Total Value Locked in Fantom. Source: DeFi Llama

Ethereum, a prominent market leader, isn’t the only one contributing to the rapidly growing TVL. Fantom, for one, has mostly remained unfazed throughout the ups and downs of the last few months. As a result, it has managed to create a history for its entire ecosystem.

The strong investor base and the ongoing hype can be attributed to the network recently onboarding the Kyber DEX to enhance the liquidity for token swaps. Fantom also went on to add TrueUSD to ramp up the network’s transactional capabilities and bridge the gap between the legacy and the decentralized finance market.

The flurry of positive news by the network is reflected in the price action of its native token, FTM. The asset, which now stood at the 25th position, has also been hitting new highs every day for the past week, and there is no stopping this bullish momentum. Over the past day alone, FTM rose by 13.18% and was trading at $3.28.

Following the suit was yet another prominent public blockchain platform, Solana. Its TVL neared $14 billion today. The biggest contributor was the liquid staking protocol Marinade Finance which has garnered immense significant interest. On the other hand, Avalanche protocol also fetched a new TVL score rising above $8 billion.

SPECIAL OFFER (Sponsored)

Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.


Credit: Source link

ShareTweetSendPinShare
Previous Post

Cathie Wood Rebuts Jack Dorsey’s Tweet On Hyperinflation

Next Post

Stock futures extend gains after S&P 500, Dow log record highs

Related Posts

Bitcoin Leads the Way by Outperforming Most Assets in Q1: Report
Crypto News

Bitcoin Leads the Way by Outperforming Most Assets in Q1: Report

April 1, 2023
5
Bittrex To Suspend U.S. Operations Due to Regulatory Issues
Crypto News

Bittrex To Suspend U.S. Operations Due to Regulatory Issues

April 1, 2023
5
Polygon Price Predictions and AltSignals’ ASI Token: What Will The Crypto Market Look Like in 2025?
Crypto News

Polygon Price Predictions and AltSignals’ ASI Token: What Will The Crypto Market Look Like in 2025?

April 1, 2023
4
Report Singapore High Court Grants Troubled Zipmex 3-Month Relief from Creditors’ Action 
Crypto News

Zipmex’s Restructuring Plan Greenlighted by the Singapore High Court

April 1, 2023
5
Bitcoin Miners in Kazakhstan To Pay Taxes Correlated to BTC Price
Crypto News

The State of Bitcoin as It Approaches $30,000: Santiment

April 1, 2023
6
Next Post
Stock futures extend gains after S&P 500, Dow log record highs

Stock futures extend gains after S&P 500, Dow log record highs

Recommended

BP plc to spend more on oil and gas

FTSE 100 index forecast as Shell, BP and bank shares recoil

March 17, 2023
5
Metacade Presale Hits Final Stage Before Listings, Raising Over $…

Metacade Presale Hits Final Stage Before Listings, Raising Over $…

March 22, 2023
7
Will Tinubu save the plunging Nigerian naira?

Will Tinubu save the plunging Nigerian naira?

March 2, 2023
5
Web3 startup nealthy closes $1.3M pre-seed round

Web3 startup nealthy closes $1.3M pre-seed round

March 8, 2023
6
Global AUM of crypto ETPs rose to $28 billion in February: Fineqia

Global AUM of crypto ETPs rose to $28 billion in February: Fineqia

March 11, 2023
6
Your Trading Edge Magazine

This is an online news portal that aims to share the latest news about trade, finance, crypto and much more. Feel free to get in touch with us!

What’s New Here!

  • Bitcoin Leads the Way by Outperforming Most Assets in Q1: Report
  • Bittrex To Suspend U.S. Operations Due to Regulatory Issues
  • U.S. Small Business Administration Announces Small Business Investment Companies of the Year

Subscribe Now

Loading
  • Contact
  • Privacy Policy
  • Advertise With Us

© 2021 - ytemagazine.com - All rights reserved!

No Result
View All Result
  • Home
  • Feature
    • Market Commentary
    • Expert Advice
    • Columns
  • Trading
    • Shares and Trading
    • Technical Analysis
    • Trading Mindset
  • Crypto News
  • Finance
  • Subscribe

© 2021 - ytemagazine.com - All rights reserved!

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?