DeFi Projects Gains Speed In The Past Few Months
DeFi Projects Gains Speed In The Past Few Months
August 31, 2020
DeFi Projects Gains Speed In The Past Few Months
DeFi Projects Gains Speed In The Past Few Months
August 31, 2020

DeFi projects gained speed in the past few months as locked in value reaches $9.02 billion.

It has been reported that Aave continues to be the largest DeFi project, with $1.71 billion locked, followed by MakerDAO with $1.43 billion, Balancer at $1.36 billion, Curve Finance at $1.26 billion, yearn.finance at $953.6 million, and Synthetix with $871 million.

However, Yearn’s YFI token surged 75% in the past day, with its price hitting $38,883 on Binance, as the price moved its market capitalization to $1 billion.

As per the report, excitement for DeFi has not waned even with the proliferation of DeFi projects. 

DeFi tokens have outperformed Bitcoin this year, as tokens related to DeFi infrastructure, like Chainlink’s LINK, have also surged.

Exchanges have also listed many of the more popular DeFi tokens.

Thus, industry players still see some issues the DeFi community needs to address to encourage mainstream adoption, despite it’s continued rise, such as security and ease of use.

ALSO READ :  Binance Enables Hong Kong Dollars Fiat Gateway Through Epay

Source: Cointelegraph | Image: Genesis Block


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. She is an archetypal writer, who loves to create her own little world with words and locutions. Apart from this, her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
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