Tech

Despite declines, the value of crypto assets in DeFi protocols is up 3x from a year ago – TechCrunch

Total DeFi TVL is down 16% from the peak, but market participants argue that this is just a bump on the path to growth

The bears could Did you think this was a declining chain of decentralized finance (DeFi) market where the aggregate value across all chain of decentralized finance (DeFi) has fallen from all-time highs, but historically that has not been the case for most major protocols Week.

Of the top 100 chains, only 18 have lost value in the past seven days DeFi Lama Data. The rest, it seems, are riding a rising wave due to demand and enthusiasm from early adopters.

Blockchain protocol Terra hit a new TVL peak of $27.45 billion on March 22, up over 68% month-on-month 13.4% increase from a week ago to $20.41 billion.

The total value locked or TVL across all DeFi protocols is the sum of all staked crypto assets earning rewards, interest, etc.

The total amount tied to chains is down about 16% since a peak in early December 2021, but market participants believe that the DeFi space is still in its early stages and has room for growth.

“At a high level, TVL is a good indication of user confidence in the various DeFi protocols, namely the blue-chip ones like Maker, Aave, Uniswap.” Derek LimHead of Crypto Insights Crypto exchange Bybit called.

“It is also representative of user recognition that DeFi protocols have some substantive value. While TVL paints a specific picture of the DeFi landscape, it doesn’t paint a complete one.”

Despite declines, the value of crypto assets in DeFi protocols is up 3x from a year ago – TechCrunch Source link Despite declines, the value of crypto assets in DeFi protocols is up 3x from a year ago – TechCrunch

Related Articles

Back to top button